Helping Your Business Finances with Automation
In life, but particularly in your business, we’re constantly aware of the lack of time and need for money. We always have to play a balancing act to determine how to best manage this reality and pursue actions that help us maximize both.
Scarcity creates anxiety, and trying to balance that feeling is a reason why people turn to the health and wellness industry to help them allay their concerns and fears. Business owners in this arena play a particular importance in the lives of their clients. That being said, you have to be sure you’re thinking about your own well-being when it comes to your finances.
Time is money, and one of the biggest reasons accounting clients approach me is because of a lack of it. They want to outsource because they realize they can’t do it all themselves. This is a critical moment in their business journey.
Once we realize that we can’t do it all, we have some choices to make. We can continue to try to do everything ourselves, knowing that it will cost us in terms of overall time, quality, productivity, or all of the above. We can ignore some of the tasks and deal with the ramifications of not attending to one or more areas of our business. Or, we can embrace the fact that it’s time to find solutions to the areas where we struggle most.
How do you identify what you should outsource?
What are the critical activities that generate revenue? Your efforts should always be focused here.
What activities energize you about your business, and which are the ones you dread? We tend to drag our feet on tasks we don’t enjoy, which is not an efficient use of our time or resources.
What areas of your business are you uncomfortable managing? If you feel you don’t have the knowledge to execute certain aspects of your company successfully long-term, you should plan to outsource to a qualified professional as soon as possible. For many entrepreneurs, these include legal and financial tasks.
Identifying the areas of business that don’t play to your strengths or tastes can be a roadmap as your company grows. Those areas are the first that you should seek to outsource when you are able.
1. Finances at a glance
2. Keep in touch with customers
Take this word of advice from me, friends–you’ve outgrown the spreadsheet. You really have. It can be so much easier, and there are no shortage of tools to help you stay on top of knowing what interests your customers most. Hubspot, Zoho, and Salesforce are a few of the ones that you’ve likely heard of, but there are a wealth of other options to explore.
3. Move forward in your projects
Knowing how to make the most of your strengths and effectively delegating and managing the rest is a core component of running a successful business. You don’t have to do it all alone, and technology can be your friend in helping you utilize tools to help free up your time.