What if a new job opportunity arose or an unforeseen cash inflow has injected some extra income? Or even luckier, you’ve struck the national (or international) online lotto jackpot and you’d now like to invest or start up a new business. What would be the key factors in setting up your own personal small business, and how do we go about simplifying this process to make it accessible for any new business owner starting out?
Below are 6 handy tips to simplify your new business venture and keep you ahead of the curve:
- Simplify by going digital:
Even though technological advancements have overcome most spheres of life, many small businesses are still using manual means and tools to create or send invoices. Surveys from Sage Online show that only 71 percent of small business use Microsoft Word or Excel to create invoices, and the rest are still sending their clients invoices in the mail. Most business owners are concerned with the costs involved for setting up a digital invoice solution – but it’s proven that these solutions save on time and money in the long run.
- Set aside time, daily:
Having a calendar set up to aid in remembering daily minor tasks is essential. These tasks have a way of escaping entrepreneurs throughout the busy working day, and end up becoming an end of week rush-job or an admin nightmare. Menial tasks such as completing and sending invoices might seem as an endless pain, but they are important to the flow of business and should be treated as such. Just setting out a plan or a little time in the day to complete these small, seemingly unimportant tasks will help you consistently to avoid falling behind.
- Employ an electronic assistant:
When trying to curb company costs, instead of hiring a P.A., make use of online assistant to help keep track of your business. Reminders for deadlines or follow up items are important, so try oDesk or Fiverr to find a freelancer that may be right for your business needs or reminders.
- Safer Storing Options:
Keeping your files or storing data in the cloud allows you to access important documents from anywhere. Cloud solutions have been proven to be secure and reliable, so it’s a great deal more advantages than just simply storing files on your desktop.
- Make Customer payment easier:
Electronic payments make transactions safe, easier and efficient for both the business and the client. Gone are the days of dealing in cash and check payments – a business that does not allow for an electronic payment is more likely to miss sales opportunities. Customers prefer purchases to be quick and easy, and in this day and age it has become an expectation for a company to offer these payment options. Retail or service-based business should incorporate mobile payments whereby business owners may accept customers’ credit cards via a mobile device, as well as implementing online payment options so customers may deal through an online account and invoice. These options help making banking easier and allows for more expedient cash flow and payment.
- Stay ahead with an efficient dashboard:
Online dashboards are a better and stress free online solution and alternative. Dashboards are used to generate charts to give you a concise overview of business activities, such as the companies’ financial health, customer interaction, employees’ activities and much more. These charts are useful in keeping an eye on the growth of your business, and to easily identify key areas that need immediate attention. The end result of employing these swift tactics is increased productivity and profit to any savvy, concerned entrepreneur.
Follow these simple steps to creating an efficiently running workhorse of a business, but also visit the PlayEuromillions.com site and register to enjoy the thrill of being in the driver’s seat on the road to becoming the next multimillion jackpot winner.