You’re running a business, scheduling your staff across projects, and providing one-of-a-kind genius to help others achieve their dreams - how do you juggle all this?
- Use cloud-based software to run the back end of your company. Cloud-based software is more secure and - if you’re clever enough - can integrate with each other. My accounting firm has vetted many apps and picked the best of breed to run various parts of a company. One such is Xero - a horizontal accounting app (meaning it’s not made for a certain vertical but can support all of them with the help of “add-ons”) that will keep track of your money. At it’s basic use, you can track your spending, upcoming bills, and who owes you money (the best part!).
An example of leveraging an add-on: If you’re providing services to others, you most likely need to create expense reports. We set clients up on Expensify where they can digitally store receipts and pull up transactions quickly to add to a report for reimbursement. This syncs over to Xero for when you’re making an invoice to that client, You add those expenses to the invoice and instantly have a correct amount to bill them. No paper, no double-entry - no sweat!
- Stop doing the same thing over and over again. Are you repeatedly spending time doing the same training for employees or clients? Can you film this, create educational material and link it to someone instead? If yes, then don’t pass GO! Instead of spending one hour for 52 weeks - spend three hours in one year on the same task. Another advantage to consider: if you’re the only one with this valuable knowledge that you have to provide in order to progress the company forward, then you’re too indispensable to ever take a vacation.
- Outsource your non-core activities. You’re (most likely) not a web designer, so you wouldn’t spend your days making your company’s website. The same goes for other non-core activities. Spend your time earning the highest rate you can get, which is going to mean spending your time doing what you do best. Hire professionals to do the rest. Our firm specializes in services for companies that generate $1-5M annual revenue per year, meaning that you’re not looking at hiring a full time CFO until you're generating more than that. Many non-core tasks don’t take 40 hours per week to do, you’re better off hiring experts than a full time jack-of-all-trades for your office.
Next steps: Contact us so we can help you make a checklist of things that you can automate, integrate, and replicate. We’ll get you set up and running smoothly in no time.