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5 tips to streamline your business

Every business owner wants a simple business. The type of business which can run itself. The type of business where all the important decisions are made by talented managers with little to no input from you. After all, you’ve done all the hard work of setting up the business and getting it to this point. Why shouldn’t you have a little time to relax and enjoy the fruits of your labour? Famed theoretical physicist Albert Einstein said: “Everything should be made as simple as possible, but not simpler.” To help you get to that point, here are five tips to help you simplify your business.

Budgeting

Just like you need a budget to properly plan your personal spending, investing and saving, your business needs one too. This is essential so that you know what you’re spending your business’ money on and understand your long term planning. There are a number of online tools which can automate this aspect of your business.

Automation

You need to ensure as much of your processes as possible are automated. From inventory to point of sale systems, you need tools which can do this work for your company. This will save you both time and money in the long run.

Backing up

It’s pointless spending your time worrying about losing information or hard drive failure. Rather, take steps to ensure all of your important data and communication is saved to the cloud immediately. There are a number of solutions available, many of which are available for free.

Bookkeeping

Sending out your invoices and ensuring they’re paid while keeping track of all of your own expenses and bills can be a laborious process. There are many options available for free or low cost booking programs. Because processes are the same for bigger businesses, these are often the same programmes used by these companies, but scaled down for wider use.

Cancel meetings

The best, and most important, thing you can do to improve company productivity? Cancel meetings. There is growing understanding that these are often a waste of time. How often have you been in a meeting where the entire point is to discuss and plan for the next meeting while catching up on weekend plans and office gossip. It has become increasingly popular to hold standing or walking meetings to encourage workers to keep things short and sharp. Meetings held in this way have been found to be more productive as well as less time consuming. It is a win all around.