It’s official. Donald Trump has formally appointed Elon Musk as Head of a new Department of Government Efficiency (Fox News).
In the announcement, Trump described the agency’s purpose as focusing on creating a more efficient U.S. government, specifically aiming to make “life better for all Americans … and make the U.S. Government accountable to ‘WE THE PEOPLE.'”
(He does love a CAPS LOCK statement, does Donald Trump.)
The world’s largest economy believes an efficiency audit is the right thing to do.
And the world’s wealthiest man – Elon Musk – is the person who suggested it.
So the chances are it would be a good thing for us each to consider with our own businesses.
As such, let me suggest for you two quick strategies you can implement today to make your business – and your personal life – more efficient.
The first will take less than 5 minutes, and the second less than 45 minutes. Challenge yourself: how much efficiency gain can you identify in under an hour?
Delete value-less subscriptions
Simply delete any subscriptions you’ve forgotten about. Or check if you have multiple subscriptions that serve the same purpose:
Check any Apple subscriptions > App Store app: Tap the My Account button or your profile picture in the top right, then tap Subscriptions (Apple)
Check any Android subscriptions > Settings app > tap Google > then your name > then Manage your Google Account > Payments & subscriptions > Manage subscriptions (Google)
Otherwise, use your banking or credit card app to check for any recurring payments.
Zero-dollar budget
This is a simple mindset shift, best explained with an example:
Let’s imagine you spend £20 a week on biscuits for the team in the office.
If you’re looking for savings, you might typically reduce that amount, perhaps limiting it to £15 a week on biscuits … a 25% saving, a big pat on the back and move on.
Zero-dollar budgeting, however, starts with the assumption you spend nothing on biscuits and asks, “Why do we need to spend anything on biscuits?”
By beginning at zero and understanding the benefits of this spending, you can assess its effectiveness, monitor it over time, or swap it for something more rewarding on occasion.
Perhaps the team simply feel appreciated having a cookie available to enjoy with their morning brew.
Maybe clients love being treated to a quality chocolate hobnob during meetings.
Or, perhaps the all-butter shortbreads are a reward for the most valued colleague each week to take home.
There could be many good reasons for your business to spend on an item (in this case, biscuits). Zero-dollar budgeting helps you understand the benefits and take control of the cost.
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There you have it. Two quick, simple strategies to improve efficiency in under an hour.
Who’d have thought the world’s largest economy and wealthiest man might know a thing or two about business!
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Thanks for reading. If you’d like support in increasing your business’s operational efficiency, or simply to review ways your business could improve, do get in touch for a free initial consultation.
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