The Importance of Division of Labor to Optimize Productivity
Division of labor was one of the foundational ideas behind modern economics. It’s what led to the creation of factories, which spurred on the Industrial Revolution. And its usefulness didn’t end in the 20th century. Here’s how to utilize division of labor to maximize your productivity at work or when starting a business.
Use Your Strengths To Your Advantage
Are you a great salesperson? Great with numbers? Great at working with your hands? Pursue a role where you can shine at those things. Now, that’s not to say that you should completely ignore other skills, because there’s still value in learning new things. However, don’t spend too much time trying to learn a ton of new skills, because it’s better to be great at a few things than mediocre at a lot of things.
Outsource Your Biggest Time-Wasters
It doesn’t make sense to slave away for hours doing something that another person could accomplish in 20 minutes. For instance, if you run a website with a blog but struggle with writing, hire a content writer or editor. If you’re selling a product but lack people skills, hire customer service staff to deal with customers while you brainstorm product improvements.
If You Start A Business, Consider A Co-Founder
Having a co-founder means double the people who care about the business, are invested in it, and can handle other tasks. However, choosing the right co-founder is important, so you work as a team and don’t clash. Don’t aim for someone who’s your clone, though. Choose someone who is strong where you’re weak, so you can divide labor and enjoy the synergy and productivity that comes with that.
By dividing labor, you can leverage the power of the professional community to optimize your productivity. Contact Muth Capital to discuss financing for your business as you expand your staff.