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This article originally published December 13, 2015.
Efficiency is a buzzword often bandied about in the office, but what does it actually mean and why is it so important?
Merriam-Webster defines it as “the ability to do something or produce something without wasting materials, time, or energy.” In other words, efficiency — rooted in the Latin verb efficere, which means “to accomplish” — is essentially making haste without waste. In the results now-focused world of business, it’s accomplishing things quickly without frittering away company time or money, both of which many entrepreneurs cannot afford to lose.
To help you mind your business — and, by extension, your bottom line — in good time, the folks at Make It Cheaper, a service that helps small and medium-sized businesses negotiate cheaper rates on insurance, broadband and electricity, have rounded up seven key efficiency lessons from a host of entrepreneurs. From delegating tasks to avoiding distractions, check them out in the short and, yes, efficient infographic below.