Many SME’s are one person or Husband and Wife operations.
The owner/operators often work much more than a standard work week, particularly when you take into account the administrative functions such invoicing customers, paying suppliers, and so on.
Some of these owner/operators are also self confessed control freaks so try to do absolutely everything themselves. This leaves them constantly stressed and tired, dreaming of a better work life balance.
To all business owners, I suggest looking at your systems and embrace technology to make life less busy and more enjoyable.
Is the time that you spend invoicing time that you could otherwise spend generating revenue?
If so, then one option is to generate the invoice on the job using a mobile app. This way you can also charge your customer for your admin time and not have to wait to get back to the office.
Another option is to pay someone less than your hourly charge out rate to do your invoicing, then you carry on doing the work that generates revenue. This could be done by employing someone for the appropriate hours or outsourcing to companies that do this as their day job.
Either method means that your net gain is greater than if you hadn’t taken that action.
With the affordable accounting packages available today you can still stay in complete control without having to physically do all of the data entry.
Look at how you approach the tasks that you need to undertake and work out the most efficient ways to do them. Then, create a standard operating procedure that you follow and continuously refine.
If you have repetitive tasks that you undertake all the time, look at the possibility of automating those tasks, getting someone with a lower skill set to undertake that part of the task at a lower cost than you pay for your skill set, or outsource that part of the task.
This frees you up to concentrate on revenue generation and being more productive.
I could write a novel on the things that your business could do to maximise their revenue generating ability. But, the core of what I am saying is question why you do things the way you do in your business – are there better ways that can improve your productivity, profitability, and life in general?
If you would like to discuss or get assistance in improving your systems give Biz Assist a call and we will help you achieve your goals. Reach out today.