Running your own business is not for the faint of heart, but the rewards of controlling your own destiny and following your passion make starting or buying a business worth it. It’s easy for small business owners to forget why they became an entrepreneur in the first place when weighed down with endless details, decision making and financial pressures.
Here’s some tips for what small business owners can do to manage their business more effectively and keep the focus on your vision and values.
Simplify Your Marketing Strategies-
To avoid losing brand focus, divide your business into several main marketing channels- direct mail, customer service, social media, website, traditional advertising, etc., and have one main marketing message per week, month or quarter. This way you can combine marketing meetings and memos, plus track for consistency across all departments.
Block Out Your Time-
Your time is your most valuable asset. Avoid random interruptions by setting up daily, weekly and monthly schedules for solicitations, employee concerns/reviews, returning emails and phone calls, meeting with your accountant or lawyer, updating Facebook or LinkedIn, reviewing contracts and more.
Upgrade Your Accounting Software-
Today’s software packages offer sophisticated systems that will combine and automate your POS, reconciliation, invoicing, payments, time-tracking and payroll, banking and taxes. If you’re paying someone to collect and enter data from several sources, you’re wasting money and cutting into employee and company productivity.
Consider a Server-
Create order from the chaos of daisy-chaining several PC’s. A server will centralize your business critical data, allow for file and data sharing, accommodate mobile users, allows for the sharing of high-speed broadband access across your company, accommodates a growing company and new computers/users easily, adds processing power and allows you to better connect with your customers.
Talk to Your Bank-
Many entrepreneurs are too busy to spend time poring over a bank statement and don’t understand how much they’re paying in service charges each month. Request a bank analysis statement so you can make an educated decision about which services you actually need and those your business could do without.
Outsource Your HR-
Entrepreneurs can spend up to one-third of their time performing payroll and benefits administration, and are risking penalties if filings are incorrect or payments miss deadlines. Paying an expert to handle these details will free up your time for strategizing and make any errors theirs to fix, not yours.
Your Website Should Answer Questions-
Your website will be the first or secondary access point for many of your customers. Adding plenty of content and FAQs that make sure visitors get the information they need will cut down on frustrating calls and emails from potential clients, and keep them from going to your competition.
Most entrepreneurs are workaholics, but it’s important to manage the stress of running your own business so it doesn’t eat you alive. Besides trying to organize your operations as efficiently as possible, don’t forget to take 15 minutes for a coffee or music break, call a friend, take a walk, read a chapter in a novel, or dream about your next vacation!
Contact TouchSuite for more information about effective management tools for growing your small business.