For example, if you own a clothes shop and need to advertise your business, you can offer to supply a local theater group with costumes in exchange for full-page, back cover ads. Don't Waste Time Time is money. Study after study shows that most businesses waste 25 to 50 percent of the time it takes to produce a product or a unit of service. Even the best-nm companies spend a significant amount of time performing tasks that add no value to their end products or services. Lost and wasted time can prevent your company from becoming a major competitor.
Time management is a relatively easy concept to grasp and exploit.
Tasks like assembling product parts or shopping for a more competitive insurance policy clearly add value. Tasks like writing a sales report or carrying a part from one end of the factory to another may not add any value. These tasks should become the target of your efficiency analysis. If you don't need them, get rid of them. Another timesaving technique is called process flow mapping.