Getting things in order is essential for small business owners to maximise business productivity and achieve business success. However, keeping business organized is just like keeping life contained – it often feels like a juggling act. As quickly as you move to catch one ball – say finances, payrolls, or inventory – the next is charged towards you.
This article lists five key steps that will help you kickstart your business organization process so that you can do more business with less stress.
1. Getting A Grip on Time Management
We believe we don’t have enough time when really, we don’t have enough focus. Oftentimes, a lack of adequate manpower means small business owners have to take on multiple tasks themselves. Therefore, it’s vital to master some time management skills to ensure you are running your small business as efficiently as possible.
You can follow these tried and tested techniques to improve your time management skills:
- Pareto Principle. Alternatively known as the 80/20 Rule. This is a principle that dictates that 20% of what you do results in 80% of your outcomes. For example, taking on clients or projects that require the least of your effort and pay the most can help drive your business to grow faster.
- Pomodoro Technique. Developed by Francesco Cirillo in the late 1980s, this technique helps you power through distraction by breaking your workday into 25- minute chunks with 5-minute breaks in between.
- Eisenhower Matrix. Also called the urgent-important matrix. It helps you quickly identify the tasks you should prioritize and the ones you should put on the backburner.
2. Arrange Your Documentations and Papers
Many small business owners often find themselves drowned in a sea of paperwork – invoices, reports, contracts, spreadsheets, records, and financial statements. The list never ends. Hence, it’s of utmost importance to organize your business paperwork in an orderly fashion to clarify what you have and what you’re missing. It also allows you a better sense of control over the administrative side of your business.
Start by deciding on a filing system – whether you want to file numerically, alphabetically, or categorically. If you’re going to build a manual filing system, space is a primary concern as you need to purchase enough cabinets to accommodate your current and future files.
For small businesses planning to shift to the paperless office, it’s advisable to invest in software for functions like invoice and expense tracking and payroll and use the cloud storage services such as Tencent Cloud or Cloudspace for backup and archiving.
3. Maximise Productivity by Using the Organizational Tools
There are many powerful and easy-to-use organizational tools to help your small business stay organized, increase productivity, and minimize your operation exposure to risks.
If you are already using several of these productivity and organizational tools, it’s time to evaluate the existing tools on whether or not they still meet your needs. They are there any new tools you should sign up for to improve your business organization.
Following are some of the main areas where you will find small business organizational tools helpful:
- Bookkeeping and accounting: Tracking revenues, expenses, and invoices are fundamental to running a successful business. The right tools for accounting and bookkeeping such as Autocountand Bukku Accounting can increase efficiency, better manage cash flow, and make managing accounts easier.
- Meetings and communication: If your business heavily relies on a remote workforce, seamless and efficient communication is a must to avoid unnecessary misunderstandings. Try testing tools out, before deciding on which software will be used for what tasks so everyone is working together. For example, if you decide you want to use Slackfor instant messaging and Zoom for video calls, every employee should be available on those platforms throughout the day.
4. Cultivate Existing Customer Relationship
Customer contact is the lifeline to any small business. The pandemic has accelerated the adoption of cloud-based operations for small businesses, and many of them have implemented customer relationship management (CRM) solutions at lightning speed.
CRM platforms help your business to simplify customer data storage into a singular dashboard, making it accessible to all departments and providing a comprehensive view of customers in real time.
5. Plan Your Social Media Strategy in Advance
Social media is one of the most essential components of any successful enterprise. Not only do they offer opportunities for business growth, they are also helping business to increase brand awareness and service their customers. It’s worth your time and effort to sort your social media calendar such as type of content, time of posting, and frequency of posting in advance to avoid stressing yourself out.
You can utilize many of the available social media planning and management tools to make your planning easier. Try Loomly for social media scheduling or Hootsuite for an all-in-one social media management experience.
If you have any financial issues concerning your small business, don’t stress! You can look for help from licensed private money lending companies such as Finsource Credit, providing professional financial advice from its expert loan advisors who are ready to answer your questions 24/7. For more information, call today to learn more about our services.
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