writes copy 12 Jan 2018

12 Ways to Automate Your Business and Boost Efficiency

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Too often, repetition, waste, and unnecessary bureaucracy slow down business. Members of The Oracles share their systems to streamline your business to run like a Swiss watch.

Patrick Byrne

Image credit: The Oracles

1. Implement AI and machine learning.

It's now possible to convert your business metrics into data points and then turn those data points over to an artificial intelligence engine that optimizes many things like price and digital marketing spend. Getting familiar with artificial intelligence and machine learning is crucial.

Get your company on the Google Cloud or Microsoft Azure. Google Cloud has built-in tools for automation and you'll automatically get the latest advancements as Google regularly updates it. Microsoft Azure is coming along right behind them and is priced competitively. With the right machine-learning tools, you can achieve maximum efficiency and turbocharge your business. '”Patrick Byrne, CEO of Overstock.com and tZERO

Grant Cardone

Image credit: The Oracles

2. Create both a sales cycle and business cycle.

A sales cycle starts when a customer shows interest and ends when they buy. With a business cycle, you market and drive people toward your product or service. Most people don't have the money to establish a business cycle when starting out. Big corporations live in the business cycle. They spend money creating traffic. To automate, you need a business cycle that gets constant eyeballs on your business. '”Grant Cardone, top sales expert who has built a $500-million real estate empire, and NYT-bestselling author; follow Grant on Facebook or YouTube

Tim Draper

Image credit: The Oracles

3. Look for repetition.

To find missed automation opportunities, I get my team together to discuss what we're doing that is repetitive. Then, we look for an automated solution that can perform the task as well or better, while delivering exceptional service. We've had great success in taking menial tasks like sorting and responding to emails and automating them. This enhanced rather than harmed the customer experience. '”Tim Draper, VC, founder of Draper Associates and DFJ

Rob Kosberg

Image credit: The Oracles

4. Make it simple and repeatable.

Automation does not need to be complicated to be effective. A complicated system requires more maintenance and is vulnerable to breaking. Each day, people apply to our program and book a call with one of our author development coaches. Our author liaison matches the applications with appointments, so calls are distributed fairly, and appointments are booked quickly. '”Rob Kosberg, #1 bestselling author and CEO of Best Seller Publishing, whose strategies have positioned U.S. Ambassadors, professional athletes, and CEOs as thought leaders

Tai Lopez

Image credit: The Oracles

5. Have a nuclear team, plus ninja contractors.

Sam Walton, the founder of Walmart, said, “The best management style is not to micromanage or be completely hands-off; it’s to look over the shoulder.”

No one does everything well so I hire a fleet of super-specialized 'œninja contractors' for specific tasks like social media, email marketing, and copywriting. Meanwhile, my small team of full-time team manages everything else, with me looking over their shoulder.

Automation means building the most efficient team around you. By outsourcing specific tasks to contractors, you cut costs. And since you're not their only income source, they don’t drag things out. '”Tai Lopez, investor and advisor to multiple multimillion-dollar businesses, who has built an eight-figure online empire; connect with Tai on Snapchat, Facebook, Instagram, or YouTube

Jared Goetz

Image credit: The Oracles

6. Only work 20 minutes a day.

I set my e-commerce business up so I only need to contribute 20 minutes per day to keep things running. At first, I ran everything, then gradually replaced myself. My obstacle was trusting other people to do my job. But when you invest time and money into others, they often become even better than you!

It’s essential to train new people and create standard operating procedures, so your team knows how to handle problems. For my first customer support agent, I copied all my email threads into a document. At that point, I'd answered every question a customer could have, so when an inquiry came in, she knew exactly how to respond. '”Jared Goetz, serial entrepreneur and e-commerce expert; co-founder of four multimillion-dollar companies in five years

Com Mirza

Image credit: The Oracles

7. Work on your business, not in it.

You can't escape the launch work when starting a business. It demands attention, effort, and late nights. After launching, extract yourself from the daily operations to work on your business, not in it.

Ask yourself what your time is worth. Anything below your pay grade '” that can be done cheaper, better, or faster '” should be outsourced. Create a weekly reporting structure, and monitor it three times a week to hold your team accountable. This will free up more time to work on growth. '”Com Mirza, 'œThe $500 Million Man' and CEO of Mirza Holdings; failed in eight companies back to back and today, runs a nine-figure empire with over 600 employees

LeNae Goolsby

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8. Empower, educate, and outsource.

Having a team that takes ownership of your business is paramount. Set clear policies and procedures, and encourage their input. Educate your team by providing supportive, ongoing mentorship coupled with knowledge assessments via the Socratic method (which focuses on asking questions instead of providing answers).

Then, outsource the necessities with trusted experts in areas like marketing, sales, billing, collections, bookkeeping, and incoming calls. This keeps the business running. '”LeNae Goolsby

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