4 Ways to Optimise Your Business to Maximise Efficiency and Boost Profits
Wan Xin
28 Oct 2022

Managing a small-time business while juggling multiple hats as a business owner can be a daunting task to many, especially if you’re doing it alone. Here are some tips on how you can maximise efficiency by employing a few clever tips in your business!

  • Cross-utilisation of Ingredients

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    Cross-utilisation is the use of a single ingredient across 2 or more menu items. This is especially useful if your menu utilises premium ingredients such as Valrhona chocolate, Japanese matcha powder, or even vanilla beans. Besides improving the marketability of your products, it also leads to better profit and higher quality items. Take for instance, the matcha powder used in a matcha cookie could also be cross-utilized in a matcha loaf cake. Cross-utilization is especially effective for ingredients with a short shelf-life as it can be used across multiple products, thus minimising wastage and maximising efficiency for your business!

  • Streamline Packaging across All Products

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    Product packaging is undoubtedly the first physical touch point your business creates with your customer. It is therefore imperative that it is both visually pleasing, and also reflective of your branding. More often than not, business owners might run into the issue of ordering packaging in various dimensions to cater to the products offered. Coupled with the fact that most packaging comes with a minimum order quantity, this might leave you with a pile of deadstock.

    One effective method to combat this is to streamline your packaging; that is to customize your products according to your existing packaging. Besides keeping your branding consistent, it also saves you the hassle of ordering packaging in various dimensions, thus saving you costs in the long run.

  • Utilise Stickers instead of Printed Packaging

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    While we are on the topic of packaging, festive periods are undoubtedly the busiest period for many businesses specializing in artisanal, handcrafted goods. Many businesses would customize packaging for such occasions to ensure that the festive products stand out from its regular counterparts. However, these festive packages might quickly turn obsolete once the festive season is over.

    An effective way of streamlining this process is to utilise stickers instead of printed packaging to ensure that the lifespan of your packaging is not merely limited to its festive period. Additionally, stickers offer higher flexibility in terms of designs and customizations. The above examples illustrate creative ways of designing your stickers to add flair and a personal touch to your overall packaging!

  • Establish an Order Management System

  • Juggling multiple hats as a business owner is tricky enough; wouldn’t it be awesome if you could automate time-consuming tasks such as orders management? This way, it frees up your time to focus on higher productivity tasks such as daily production, customer liaison, or even business strategizing.

    There are multiple order management tools available online that are free to use. Some of you might be familiar with Cococart, Pickupp, or even Take App. These systems collectively serve to ease order management for business owners, especially during peak hours.

    The Collective marketplace believes in creating a cohesive platform for artisans and buyers to gather together to exchange goods. Rather than spending multiple hours a day manually inputting orders into an Excel sheet, the time can be better utilised on running your daily operations!

    The Collective marketplace app aims to be ready for you in 2023! Meanwhile, do follow us on Instagram and keep your eyes peeled for further updates from us! Feel free to drop us a DM for more information.