Resource management software is the fastest and the simplest way through which you can manage your resources and schedule various tasks in a matter of clicks. This software is specially designed to carry out management tasks effectively in an automated way using software applications. You can divide teams for your projects, allocate resources to each one of them and analyze their work and performance on a regular basis; that too in a very easy and automated way. This is possible through this software.
We begin today’s post with a small challenge. We insist that you pose the following question to other fellow entrepreneurs and small business owners whom you know – “Which is tougher: Starting a business or keeping it functioning?”
According to the report Business Employment Dynamics by the Bureau of Labor Statistics, less than 50% of all businesses can remain open after five years of the initial launch, and the number shrinks further to 30% when you increase the period to ten years. It’s a universally acknowledged truth that transforming a startup or a small business into a thriving success is a massive challenge that has tripped even the most suave businessmen.
The success formula involves more than the right marketing strategy, high initial funding, and steady cash flow. There’s more to it. Resource planning and efficient utilization of resources form the cornerstones of success for small businesses and startups.
It’s true that most small businesses don’t have a surplus cash stack in hand. They start with a modest budget. Therefore, it makes the most sense financially and logistically to make the most of the resources in hand. And, it all depends on efficient resource planning.
First things first,
What is Resource Planning?
Simply put, resource planning and scheduling is a necessary phase of all businesses. During this phase, the team manager or business owner identifies all the resources required for the successful delivery of a project, within the specified timeframe. Once, resources have been designated the next step involves resource scheduling.
Here, the term, “resource” refers to staff members, the equipment required for the project, roles, and responsibilities of the team members.
Resource Planning is incomplete without Resource Scheduling. The plan involves an in-depth schedule that gives detailed information on what needs to be completed and when. Generally, resource plans include the following:
- Number of designers, developers, coders and testers required for a project
- The scheduled dates for the involved resources – when and how long will people be working on tasks
- What tasks are assigned to each team member and for how long
- And, other relevant details
Why the Stress on Resource Planning and Scheduling?
Here are the numerous benefits of resource scheduling for your business.
- Manage Resources Efficiently
Most startups and small businesses start with a handful of employees. Here, each employee juggles between various tasks. This makes the most sense financially as hiring specialists for each task may not work out profitably, during the initial stages.
For instance, a single person may oversee accounting as well as maintaining inventories. Another person may provide customer support while handling sales.
One of the biggest challenges for small business owners is to strike the right balance while utilizing resources. You don’t want to hire more people so that they end up with no regular tasks. On the contrary, overloading your staff with more work than they can handle comfortably causes your team to get stressed and burnt out.
This is where resource scheduling is crucial. It helps business owners get the most out of the resources in hand, without overburdening anyone.
This is highly critical when your business grows. You must ensure that your entire team has his/her work cut out for them. Additionally, it’s doubly essential that you assign the right task to the right person.
Efficient resource scheduling ensures that you match tasks with the person with the right skills.
- Gives you an Accurate Idea of when you Need to Scale
Ok, you may not have a full workload during the first few months. But, that doesn’t mean, it will be the case forever. As your business begins to attract customers, your work volume is sure to grow. Getting your employees to do extra time on an occasional day may work out. But getting them to double their workload, day-in and day-out are sure to cause employee attrition.
With a detailed resource plan, you can accurately predict future resource requirements. This helps you decide when you must bring in extra staff and expand your team.
- Understand your Business Needs and Implement the Right Strategies
Resource Scheduling is more than allocating tasks for your team. It helps you get a clear picture of the talent you have in hand and what’s lacking. For instance, you may need an extra pair of hands to carry out design works, and resource scheduling helps you pinpoint your needs accurately.
Efficient resource scheduling lets you see which tasks are left unassigned and whom you need to hire or reassign, to complete the job.
Additionally, resource plans help team members express their needs quickly. For instance, a designer may need someone to help with backend work; he can take a quick look at the available resources and indicate his needs to the team manager. Similarly, if a team is made up of back-end engineers, they can inform the lead about it and request for front-end developers.
- Help your Staff, and Team Members Stay Connected
According to a survey by the ClearCompany, over 97% of employees surveyed stated that lack of alignment among the team members has a direct impact on the outcome of the task.
The takeaway – You need a robust and connected team to improve productivity and ultimately, the profits. Communication, trust, and transparency are key factors in the workplace. And, by creating a detailed resource scheduling plan lets you achieve that.
With a plan, everyone knows their duties as well as the responsibilities of others in their team. This paves the way for collaboration helping to meet deadlines and nurtures an atmosphere of transparency among team members.
- Forecasting Problems and Rectifying It before it Snowballs
One of the biggest benefits of resource scheduling is that it helps you predict problems along the way. For instance, if a phase appears to be bottlenecked, you can take corrective actions to prevent it before the situation occurs. Additionally, you learn to analyze the root causes of these issues and choose the right measures to prevent it from happening in the future.
Now, that you’ve seen the top benefits of resource scheduling and how it can impact your entire organization, we’re sure, the question that’s running in your mind is,
How to Schedule Resources?
Resource Planning and scheduling are way easier when you have the right planning tools by your side. While spreadsheets may appear as a cost-effective solution in the beginning, as your team grows and your business scales new heights, you are going to need the help of specialized resource planning software.
So, it pays to find the right software from the early stages and get your team acquainted with it and see all the difference it makes, in your projects as well as your entire organization.
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