Business
10 Areas of Operation Your Business Needs to Improve

Most businesses operate inefficiently in at least some ways, but how can you tell which areas need improvement, and how can you improve them? Identifying these problem areas and working to fix them is vital if you want your business to succeed.
In this guide, we’ll discuss how to improve the areas of your business that are struggling the most, and the areas that can most benefit from improvement.
How to Improve a Business
In the next section, we’ll discuss 10 of the operating areas most likely to need improvement. But how can you plan to improve something you didn’t even know was inefficient?
According to Chicago management consulting firm AArete, one of the most important concepts is quantification. You need to be able to quantify your goals, measure your current performance, apply changes, and measure how your performance changes; if you can objectively measure an improvement, you’ll know your strategies were successful. Quantification is easier in some contexts than others; for example, you may be able to increase sales from $2 million per year to $2.8 million per year, or you may be able to cut hours wasted from 100 per week to 40 per week. In any case, you’ll need to have some way to track your performance, before and after your strategic changes.
As for the specific tactics meant to “improve” a certain area of your business, those will vary depending on the area you’re working on and what you’re trying to achieve.
Key Areas to Improve
These are some of the most common areas of operation that businesses need to improve:
- Goals and strategic imperatives. First, you may need to address your high-level goals and strategic imperatives. Oftentimes, businesses struggle simply because they don’t have direction—or because their direction is poorly defined. For example, let’s say your business has been stagnant for a few years, seeing little to no growth; which goals are you trying to meet, and which strategies are you applying to achieve those goals? If you have a lack of specificity, or if your goals are somehow untenable, the stagnation is unsurprising.
- Expense management. Chances are, your business is spending more money than it needs to in at least one area. You may have hired too many people too quickly, you may be overpaying for your lease or your utilities, or your cost of raw materials may be exorbitant. Identifying and trimming down these expenses will help you operate in a lean (and profitable) way.
- Financial tracking and monitoring. Most businesses have an accounting department responsible for keeping track of their spending and revenue, but that’s not a guarantee that you’re tracking things correctly. If you’re not actively looking at the right trends, or if you’re not tracking every dollar precisely, it could come back to hurt you.
- Marketing and advertising. One of the most reliable ways to grow a business is through marketing and advertising, but there are a lot of ways your marketing strategy can go wrong. You can pursue the wrong target audience, invest in the wrong strategies, or simply overspend on your campaign, ruining your ROI. It’s important to take a critical look at your marketing and advertising strategies, analyzing them for effectiveness and bottom-line value to your business. Weed out the tactics that don’t work and keep experimenting with new ones.
- Data analytics. Data is becoming increasingly important for modern businesses, thanks to competitive pressure and more accessible technology. But to use data effectively, you have to gather the right data, use the right tools, and apply the right types of analyses. For inexperienced businesses, this can be overwhelming; inaccurate data, poor analytics, or incomplete tools can compromise an otherwise promising data analytics strategy.
- Competition analysis. Most businesses start out with a business plan that sketches out a competitive analysis, but your competition analysis shouldn’t end here. In fact, you should be analyzing your competition constantly. If you’re not actively watching what your competitors are doing and finding new ways to outcompete them, you’re quickly going to become outclassed by your rivals.
- Sales. Depending on the nature of your organization, you’ll also need to worry about sales. How are your salespeople spending the hours of their day? How many sales are they closing, compared to how many leads they’re getting? How can you help your team land more sales while simultaneously improving their time efficiency?
- Employee morale and motivation. Employee performance is important, but so is employee retention. Too many businesses neglect employee morale and motivation as critical factors for success. What are your employees thinking and feeling? Are they satisfied with their working conditions and with their potential for the future? How can you make them feel better about their positions?
- Communication efficiency. Few organizations are operating at peak communicative efficiency. In some cases, businesses are plagued by poor communication habits, from time-wasting meetings to emails without subject lines. In other cases, the root cause is a lack of access to the right tools and technologies to support good communication. No matter what, it’s your job to improve communicative efficiency, reduce miscommunications, and ensure nothing gets lost in the process.
- Inter-departmental collaboration. Too often, departments within large organizations turn into isolated silos; the people within those departments become self-contained, and each department develops its own micro-culture and communication styles. Accordingly, departments find it more difficult to collaborate and communicate with each other. Some departments, like sales and marketing, need each other to thrive, so it’s imperative to break these silo barriers down. You can do this with a mix of strategies, including cross-training, hybrid roles, and departmental blending.
Even after addressing these common areas, there will always be room for improving your business. There will be old inefficiencies to address, new techniques and technologies to experiment with, and inventive ways to transform your business. The most successful companies are the ones that remain perpetually adaptable, constantly evolving in response to new conditions and improving their overall functionality.
Business
How Buttonwood Property Management Navigates the Challenges of Property Management in a Thriving Market

A thriving real estate market is full of new opportunities for investment, but it is also rife with significant challenges. One perfect example of this is Toronto’s real estate market, which is bursting with activity due to Toronto’s status as the fastest-growing city in all of North America. Part of Toronto’s fast growth can be attributed to its status as a highly transient city, as 50% of Toronto residents were not born there, but are more recent immigrants or transfers from other nearby cities. As a result, there is a pressing need for more and more residential properties, as well as commercial properties, for companies seeking to take advantage of increased foot traffic.
The challenges of investing in real estate in an urban hub such as Toronto include managing a supply of properties that may not be able to keep up with the demand, as well as keeping property values high in an ever-competitive market. Also, real estate investors struggling to keep up with a highly-demanding market may also experience difficulties with the day-to-day operations of physically maintaining a residential or commercial property.
For these reasons, property management companies have sprung up to address the needs of real estate investors who want to save themselves the time, effort, and stress of tending to all of their properties’ needs. A good property management company should also be capable of paying attention to details and addressing the specifics of relevant regulatory requirements and providing clear communication and dialogue with tenants.
While all of these traits are necessary for property management in Toronto, Buttonwood Property Management has gone above and beyond the call of duty by adding another element to its core ethos. In addition to careful consideration of clients’ needs, Buttonwood Property Management puts people at the heart of everything they do.
“Clients trust us with their most valuable assets because we never compromise on our ethical standards,” Buttonwood Property Management’s [insert name and role of representative here] says. “We specialize in helping owners enjoy peace of mind while ensuring tenants feel right at home.”
In its 14 years of existence, Buttonwood Property Management has built its reputation on long-term relationships with clients and tenants. By thoroughly screening potential tenants, the company has cultivated a spotless reputation, ensuring that rent is always paid to clients on time. Buttonwood Property Management has also provided residential and commercial property management and rental services in the Greater Toronto Area, such as bookkeeping, paying bills, rent collection, initial property inspections, and major renovations.
To date, Buttonwood Property Management has spread its ethos to neighborhoods in Toronto and other nearby areas such as North York, East York, Scarborough, and Mississauga. Through its continuous service, the company has demonstrated that any organization can navigate the challenges of Toronto residential property management by prioritizing quality over quantity and combining expertise with integrity. This has resulted in the company receiving industry awards from organizations such as Kingsway Real Estate Brokerage and iPro Realty Ltd., including the organization’s Platinum Award in 2020.
In the case of property owners, Buttonwood Property Management provides customized solutions to maximize returns while minimizing stress. The company’s experts and specialists take care of everything from tenant screening to maintenance coordination. In the case of tenants, the company seeks to make them feel at home by maintaining properties to the best standards and addressing their concerns promptly. This dual focus has not only strengthened the company’s reputation but also helped create thriving, harmonious communities. Combining professionalism with that personal touch has made Buttonwood Property Management stand out in the very competitive real estate market in Toronto, proving that it is through trust and relationships that sustainable success is realized.
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