Keeping your business running smoothly requires discipline and efficient time management. It’s easy to get bogged down with tasks that seem urgent and postpone activities that might not seem to require an immediate response. The following tasks should be scheduled into your working week and stuck to! Postponing something by half a day can make good business sense, letting it pile up for 3 weeks can leave you in more trouble than you realise.
Bookkeeping. Keep on top of your bookkeeping. Know what is going into your business bank account and what is going out. As always, this seems like an obvious statement but it is also an important one. Having an up to date knowledge of your accounts will assist you in making your business decisions and not leave any nasty surprises at month end!
Cash-flow. We’ve mentioned this before but keep on going back and revising your cash-flow plan. It’s very unlikely your first, second or third attempts will be completely accurate and as with the bookkeeping, it will help you make a more informed business decision in the long run. Your cash-flow will help you make positive decisions about the future of your business.
New orders/business. When you’re up to your neck trying to serve your current set of customers this can seem like the last thing you will need. If you have the luxury of being busy with customers, you will probably get the benefit of word of mouth advertising that is invaluable for any business. However, there’s a chance that your products and services are seasonal or will not need regular renewals by your customers. Ensuring you have as steady a stream of customers as possible knocking on your business’s door will keep your business ticking over in the quiet times (which every business goes through).
Get paid on time. This isn’t only about being strict with customers who haven’t stuck to your credit payment terms. It is also about being diligent enough to send out your invoices on time, to the correct address and making sure they are completely accurate. Any administrative errors could set back your invoices by weeks and if you are waiting for a large sum of money this could have a significant impact on your business.
Contact. Make sure people can contact you. Although your customers should be number one here, you should consider suppliers, contractors and whoever else is involved with your business. Missing a message because you’re away from the phone is no longer acceptable with the technology available today. A customer will feel better leaving a message with a person (even if that is a family member or Virtual Assistant) rather than a voicemail that could go un-noticed for some time.
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