If you are a small business owner, you know how much work it is to run the day-to-day operations of your business. Here are a few tips to help you run your business a little more smoothly.
Technology
Most business owners have access to a myriad of technology tools, many of which are free! Aubrey Ferrao suggests making sure that you effectively use the native functionality that your smartphone provides such as calendar reminders and more. These simple, yet useful tools can help you to make the most of your day and help from allowing things to fall through the cracks in your busy schedule.
Lines of Credit
Floating money is part of the game when running a successful business. Waiting to be paid is also something that happens when running a business. According to CEO Aubrey Ferrao, having a healthy cash flow can be the difference between staying in business and going out of business.
Understanding when money is coming in and balancing that with money going out can be a delicate dance to perform. However, there are tools out there that can help you to better forecast this. Most accounting tools, such as Quickbooks, can help you to better visualize this via accounts receivable and scheduled expenditures.
Having a better pulse on your money will help you to make better decisions as many small businesses make the fatal mistake of growing too fast when they don’t have the money to support it.
As you can see, utilizing technology, as well as having a better handle on your money, can help you greatly when it comes to running a business more successfully. You’ve worked hard to start your business, so don’t let inefficiency get the best of you and use the tools around you to give you the edge on your competition.
