When you are running a business, it is all too easy to get a bogged down. Especially if the amount of work you have suddenly escalates. When you unexpectedly get uber busy your carefully honed processes tend to go out of the window. Before you know it, your day is spent mainly firefighting and you no longer work efficiently.
Investing in a few tools and learning how to use them during quiet times is an excellent way to prepare yourself for the more frenetic periods. Provided you choose wisely you can drastically cut down on how long each task takes to do. So, that finding the time to do a lot more of them is less of an issue. It doesn’t matter if you own a small business, an Etsy shop or make an income from blogging, here are a few tools for you to take a look at and consider buying to make running your business easier.
Business Invoicing Tools
I am going to start with simple invoicing software simply because it is such a handy way of organising all important payments. This kind of tool is particularly useful when you get busier as your business grows, and you are spending several hours on invoicing each month. If you get to this stage, it is way past the point where you should have invested in some software to handle the processes for you. It will take you less than 2 minutes per invoice, so you can send out 15 invoices in the time it took you to do just 3 manually. A big time-saving. Plus, if you buy the right package, it will also make keeping your accounts up to date far easier and faster.
Time Tracking Software
If you have ever turned around and wondered where the day went, you are not alone. Often, you will find that you are spending hours on tasks that can easily be contracted out. For example, there comes a point where doing your payroll yourself is no longer cost-effective. You need to evaluate if you should hire someone to do the task in question for you on a full time or freelance basis. This can be much more sensible than handling everything yourself, as you don’t want to spread yourself too thin – with an expert to deal with specific tasks, error is less likely.
Profit and Loss Reports
Most business owners already have a good accounting system in place. They have to if they do not want to fall foul of the tax authorities. But an awful lot of them do not make full use of the data that is locked away in their accounts. Regularly running and studying your profit and loss report is an excellent way of identifying which products make you the most profit. This enables you to focus your marketing efforts on them. When you do that, you make more cash for each hour spent running your business.
The above are just a few suggestions. If when tracking where you spend your time you notice a particularly time-consuming task, look for an app, tool, or piece of software to help you to streamline things no matter what your business is.