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Helpful Ways to Better Manage Your Small Business - Sophia Belnap - ContactCenterWorld.com Blog

Helpful Ways to Better Manage Your Small Business

Being a small business owner is a full-time job. You work long days and have to sacrifice time with family and friends to keep your company running. While being an entreprenur might never be completely stress-free, there are things you can do to better and more efficiently manage your business. Here are some ideas to help you get started.

Keep Your Business and Personal Finances Separate

Mingling your personal and business finances is a bad policy that can get you in trouble with the IRS. Take the extra time to put your business expenses on your business credit card and invest in help at home paycheck stubs. You may want to consider opening an entity, such as a limited liability company or corporation, with the help of an experienced attorney. At the very least, you should make sure that you have a separate business bank account.


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Avoid Multi-Tasking

If you want your employees to avoid multi-tasking, you should lead by example. Do one thing at a time and you'll produce higher-quality work.

Be Smart About Scheduling

It can be easy to get caught up in treating yourself like just another employee, especially when things get busy. The reality is, however, that you're the boss. If you worked at a large corporation, you would need to attend meetings with your manager. Apply this strategy to your small business. Schedule one hour each week to review your goals and measure your progress. This small step can help you grow and develop your business more effectively.

Utilize Marketing

If your business isn't as profitable as you would like it to be, you should revisit your marketing strategy. Just having a website or a storefront isn't enough to keep customers coming back consistently. You need to be smart and consistent about how you market your business from day one. If you have the available funds, consider hiring an agency to help you create a marketing strategy.

Unclutter Your Mornings

Approaching your morning the right way can set the tone for the whole day. Studies have shown that decision fatigue is a very real condition that has an impact on the way we function. Changing the habit of checking your email when you first get to work can free you up to focus on other important tasks. Try to avoid your inbox for the first three to four hours of the day. Not only will you be able to catch up on your to-do list, but you'll also be able to make better decisions once you do get around to answering your emails.

Get Serious About Employee Training

If you put effort and resources towards thoroughly training your new team members at the beginning of their employment, you will save time and energy in the future. Having employees you can trust is an important part of being able to delegate daily tasks and hopefully enjoy the occasional vacation. Have realistic expectations when it comes to training. New hires won't understand everything right away. It may take weeks or months before you can allow them to work independently. Rather than thinking about training as something you dread, approach it as a long-term investment.

Keep Learning

It can be tempting to just do an online search when you need to learn something new, but this can actually waste valuable time and effort. Rather than approaching new skills with trial and error, you should invest in continuing education. There are countless courses available both online and in-person about business skills, communication and technology. Not only will you be able to handle challenges with confidence, but you'll be able to present yourself as an authority in your industry.

Owning a small business will be one of the most challenging and rewarding experiences in your life. Every day brings unique problems to solve and new ways to serve your customers. Make sure that your company runs smoothly by trying just a few of these tips. Then you can focus on the parts of your business that you enjoy most.

 

 

Publish Date: June 10, 2021 6:45 PM

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