It doesn’t matter what type of small business you have, there are office tasks you have to complete to operate successfully. In this article we are going to discuss some key operations that you need to have in place to make your business run effectively, efficiently, and, most importantly, economically. We call this the three “E’s” to successful small businesses.
Method for tracking your business expenses and income. Maybe you are starting with only a few customers and keeping handwritten or developing your own spreadsheet seems sufficient. In time, as business grows, and your memory fades, you need to have a method to easily track your finances. Plan for business growth at the start with a method, or program that will meet future growth needs. Accurate financial records are needed for the dreaded tax season and to ensure you are being profitable. Several programs are available that are free and those you pay for, that will help you track your expenses.
Again, no matter the business you need the appropriate technology to operate your business. Technology includes devices such as smartphones, tablets, computers, or technology specific to your business offerings. The list goes on and on and greatly expands depending on the business you have. It is critical that you budget for a technology refresh throughout the life of your business. As technology advances occur rapidly, you need to refresh your technology on a regular recurring basis, often every 3-4 years. Refreshing your technology improves efficiency. Reduced time waiting on slow computers, or having to develop work-around's where technology outpaces your existing devices.
Internet Presence & Management
In this category we include email, web pages, and even social media if you are so inclined. Having a business web page and social media presence increases your reach to customers. Those that do business with you on a regular basis, and potential new customers often look online for contact information, to learn more about your business. Forget the idea that having a web page will increase your business overnight. From our experience, word-of-mouth advertising, then being easily found on the web is what builds your business. Chances are you will need business email to send invoices, communicate with customers, and to receive information about your business.
In any small business you will have suppliers that provide services and products to keep your business going. Develop relationships, shop around for suppliers that can provide you with discounts. If you are a consultant that travels, consider using the same motels to get preferred status as well as business travel discounts, and ease of tracking travel expenses. Don’t be afraid to ask for discounts in the beginning or if you have been a long time customer. Reducing your supply costs increases your profit margin.
Hard copy and electronic files need to be handled in a consistent manner to increase your efficiency, reducing time to locate what you need when you need it. Take time to develop a logical filing system, one that is not overly complicated. Include email filing as well. (See article on Email Organization) Include working methods that improve your effectiveness in accomplishing office tasks. Schedule time each day or a few times a week to focus on the filing and work systems to keep your business operating smoothly.
All of these ideas, or considerations, will help you operate your business effectively, and efficiently, which equals working more economically, saving you time and money. Set a reminder on your calendar every six months, maybe with a link to this article, to review each area presented and see where you can improve.
Follow us on twitter for new articles
Holmes-Tech LLC. All rights reserved.
950 Eagles Landing Pkwy, Suite 422
Stockbridge, GA 30281