We start out in business enthusiastically because we have a good idea for a service or product we want to offer. We are also often the best and most experienced in our field as well. Why then do so many small business fail? This usually has nothing to do with our expertise but more around our lack of general business skills.
To help we have identified some areas most business owners can improve which will positively affect their chances of success.
- Be super organised
- Manage your time, prioritise and be focused
- Use your calendar
- Avoid unnecessary distractions
- Actively manage your cash flow
- Have an extra savings account to put money aside for your BAS and super
- Create a budget to help track your income and expenses
- Review expenses to look for savings
- Manage your debtors to ensure prompt payment for your services
- Get online
- Use online accounting software and embrace all its time saving features
- Implement other Add ons to streamline business processes such as rostering, payroll, POS systems, workflow tools, CRMS, etc
- Take time to investigate and learn what other online tools are available that can save you time
Smart Business Guardian