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How to Run a Profitable Research Lab

In movies and TV, laboratories always seem to run like clockwork (until the sci-fi aspect takes over, at least). If you are a manager of a research lab, then you know that this idealised vision of a smooth operation is often the furthest thing from the truth.

Running a profitable research lab takes a lot of hard work, a keen insight into maximising the functionality of operations, and a proactive mindset towards every possible mishap. If you’re looking to make your laboratory more profitable, then there are a few ways to achieve this. From the latest technology trends to budgeting, here’s what you need to know.

Time Is Everything

 

The old adage “time is money” is one of the truest statements ever spoken, and not just in terms of a research lab. Making sure your scientists and other professionals are using every minute of their working day wisely is essential, but might feel like an impossibility most days.

How can you keep everyone on track without becoming a micromanaging boss? What about remote employees? Well, the answer lies in using an excel spreadsheet.

Technically, the answer is a software program called Clockspot, but it creates excel spreadsheets that centre around different aspects of your employee’s time cards. It can tell you when an individual punched in, if they’re at their desk/station working, and if anyone has tried to punch them in as a favour.

This tool allows you to completely monitor when and where your employees are working while also providing a simple way to create your payroll sheets. It ensures their time is well spent, but also frees up your time to focus on more important tasks.

Update Constantly

Budget constraints make it difficult to purchase new equipment every time something hits the market, but you don’t need the latest machines to keep your laboratory profiting. Thanks to the IoT and the continual integration of IT into every sector, all you need are the right programs.

New animal research software, for instance, allows labs across the world to communicate with one another on their research and findings. Scientists can set up these programs to record findings as they happen, leaving no room for error in paperwork. Those findings can then be sent to anywhere in the lab, saving time by improving productivity.

Optimised for collaboration, the latest programs make data processing and management a simple task for everyone involved. Planning, executing, and analysing research has never been easier. Best of all, software costs a whole lot less than new equipment.

Focus on Safety

While safety is never an afterthought in a research lab, it might not be the first thing you think of when working towards profit. However, even the slightest accident can lead to hours of working time lost, setbacks, and possible strain on your organisation’s finances.

Place an intense focus on safety, providing each employee with the training they need for your lab’s working environment. Clearly label hazardous materials, keep that first aid kit stocked, and hold regular meetings about lab safety. These simple steps can ensure your employees are safe, allowing them to stay focused on their work.

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