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Efficiency: How to Improve Your Business's Efficiency Ep. 61 [The Startup Starter Kit]

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Business Basics: Efficiency has a significant impact on your business's profitability. How do we ensure our businesses are efficient? What does efficiency mean? In this video, I go over the definition of efficiency, as well as what makes businesses efficient or not. A comparison is also made between efficiency and effectiveness.

The startup starter kit is a series of videos designed to teach teach business students, people interested in business, or people that are interested in running a business about the basics and fundamentals. We'll touch upon all of the basic business functions such as accounting, marketing, logistics, etc. Hope you enjoy!

Thanks for watching! This is a video in the Startup Starter Kit, a playlist I created of videos that include the business basics and fundamentals to starting your own business. Want to learn more? Don't forget to subscribe and check out the videos in the Startup Starter Kit below:

https://www.youtube.com/playlist?list=PLHS2n3-8Tcl2GwMuGPEs1ubaFxxiHcUQz

0:00 Introduction
1:05 What is Efficiency? Why does it matter?
3:01 Efficiency v.s. Effectiveness (difference)
4:27 Why focus on efficiency?
5:51 How do you make your businesses more efficient?
6:05: Tip #1
7:55 Tip #2
9:08 Tip #3
11:19 Tip #4
12:17 Tip #5
13:42 Tip #6
14:53 Conclusion
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