As a small business owner, it is impossible to avoid business administration. After all, there are tasks that simply need to be done. The time you spend doing administrative tasks, however, is time you cannot spend on growing your business, generating new sales, or providing a good service to your customers. This is why reducing the amount of time you spend on business administration is important.
Here are seven business administration tips that will save you time.
The best way to save time on business administration tasks is not to do them and instead get someone to do them for you. In many situations, outsourcing these tasks is the best option. For example, you can hire an accountant to do your accounts and prepare your tax returns, or you could outsource bookkeeping. You can also outsource HR tasks or hire a virtual personal assistant.
Just because you are busy doesn’t mean you are effectively using your time. In addition, doing the highest priority tasks first, even when they are the most difficult, will save you time in the long-run. So, prioritise your administrative tasks and then work on the list in order.
3. Hold fewer meetings
It is all too easy to hold a meeting because that is what you always do in particular situations. Many meetings are not really necessary, though, especially if they have an administrative function. Before calling a meeting, evaluate whether it really is necessary while also exploring other ways of achieving the same goal. For example, you could hold the meeting on Skype to reduce travel time, communicate the information by email instead of holding the meeting, or establish a collaborative document that removes the need for the meeting.
4. Put in place effective payment terms and policies
Some of the most time consuming and stressful administrative tasks you must do as a business owner concern payments and credit control. Managing tight cash flows caused by late payers, chasing customers for payment, and answering invoice queries are all examples. Having effective payment terms and policies in place will keep the amount of time you have to spend on these tasks to a minimum.
5. Use the cloud
Having access to documents and files when you need them will save you time. Being able to work at times that suit you, wherever you are in the country or in the world, can also save time. The cloud also helps to establish better collaborative working within your team.
6. Implement process automation
Another way of not doing an administrative task is to automate the process. This won’t work for all such tasks, but it is effective when it is possible. Usually, automation works best on tasks that are predictable and repetitive. For example, good accounting software can automate many of the repetitive accounting tasks your business must stay on top of.
7. Keep good records
Keeping records is an administrative task while making sure you do it properly will save you time. This is because you will make fewer mistakes, particularly if you prevent the work load from building up by staying on top of record keeping. Also, you will always have access to the information you need when you need it when you keep good records.
The common thread through each of these tips is working smarter. When you work smarter, you will save time on business administration tasks.
To get more help or advice with your business, please contact a member of the Gilroy Gannon team today.