As a small business owner you wear many hats. Time is your most precious resource and something we all wish we had more of. So how do we get more time?
Working more efficiently
Reduce the time you spend on certain activities by using technology wisely:
- Set up rules in Outlook to filter your emails into folders. Use the folders to prioritise those that will add the most value to your business.
- Use smart accounting software. Simplify your process to create your invoices with a few short steps. Use automated reminders and send statements easily. Xero and MYOB offer a great service.
- Choose additional cloud software appropriate to your business. If you have lots of jobs, choose good job management software appropriate to your industry. If labour is a high portion of your costs, make sure you capture and classify those hours using timesheet software. Use rostering software if you need to ensure that all your shifts are staffed.
- Make sure that it is easy for your customers to pay you. Provide online payments, or mobile payments at the end of the job (either EFTPOS or payment solutions offered by your bank). This saves you time chasing invoices.
- Keep your files in a Cloud application (eg Dropbox, Google Drive, One Drive). This allows for easier collaboration and means that you don’t have to worry about constantly backing up your computer.
This is easier said than done in a small business, but if you have the right staff you can empower them by giving them more responsibility. Ensure that you still have the right checks to overview their performance. Make sure you have position descriptions and regular performance reviews.
Plan and Prioritise
If you don’t have a plan, you don’t know what direction you are heading. You can easily waste time going in the wrong direction. Set you goals, plan how you are going to get there, and prioritise the next steps. Spend an hour or two at the end of the week planning the activities for the next week. That way you can go into the weekend less stressed, and you can hit the ground running on Monday morning without wondering where you should start.