Running a business is a lot like keeping your house in order. You pay the bills, you put food on the table, and yet there’s still so much you can’t cover. You forget to clean the sink, you’ve not checked your bank statements in weeks, and there’s no hand wash left in the bathroom. In much the same way, it can be very easy to get caught up in all the important necessities which rule the day-to-day of your business operations that some things slip by you: predominantly, organizing your business finances.
Keeping on top of it all is easier said than done. Your business has deadlines to meet, profit to make, and new projects to be started in marketing, development and every other sector of the company. There are only so many tasks you can delegate, but the responsibility of your company’s success still rests on your shoulders, whether it’s a small startup or a huge empire.
Here’s some helpful advice to help you as an entrepreneur put an end to this headache and start to take back control of your business. It’s time to get your house properly in order, before a faucet leaks.
Get your team on board.
Organizing your business’ accounts, finances and all other core operations that work their way down into the rest of the company starts with getting the staff on topic. You can’t tackle this problem by yourself; organization relies on every last person in the company working to stay on top of things.
A great way to achieve this is to hold regular meetings to discuss the business plan and how you’re going to push each department towards their goals. This helps motivate people, as they feel structured in the workplace. It isn’t about holding their hands and doing their work for them; it’s about offering a little guidance and letting them know what it is the business needs to be doing and what it needs to not be doing. Give them some targets for the week, and you’ll have achieved step one of a more organized business: a more organized workforce.
Get your team organized.
Even if you lay out company goals to your employees in regular meetings, motivation only carries a person so far. When that adrenaline boost and rush of determination expires, you don’t want to find that there’s disorganization in the hierarchy of your business. A messy team, without structure and sub-structure, leads to messy work within the business, and potential mistakes or slip-ups in subtle ways within the operations of the company and possibly its important files.
Remember to delegate roles to managers, clearly and rigidly define separate teams, and spread the workload so as not overstretch anybody. Overwork leads to low productivity, which leads to an inefficient and unorganized business.
Additionally, it’s one thing to have your employees on board with the task at hand, but that doesn’t mean you can neglect them in other areas. Don’t slip up with accounts or payments, because your business only runs well when it has people to run it at all. You don’t want to indirectly cause any employee walkouts over a ridiculous and easily-avoidable accounting error.
Something as simple as issuing business checks to keep on top of the payroll could ensure that your business remains organized, and you’re not left with a team of disgruntled employees who haven’t been paid the correct amount this month.
The right balance of automation and human skill.
As discussed above, sometimes the traditional methods of organization, such as issuing a tangible set of business checks, which can be monitored and categorized, are the best ways to keep a company in order. Of course, in the modern world, we’ve improved on processes that could be slow and subject to human error, so a little bit of entrepreneurial judgement is needed here. Get your business head on, and think through each decision you make.
To keep files and inventory well-structured within your organization, there comes a point at which you need to automate the process of documentation in your records. Tracking company inventory via barcode technology ensures that nothing goes missing, through theft or accidental loss, and it also gives the business more of an idea about where their finances are going internally.
If you’re over-spending on materials and resources that the company doesn’t need, a digital and automated process of recording the inventory will let you know how you’re spending your money and whether you need to cut down on what you buy, or where you buy it from.
Keeping on top of technology and the internet.
Given that we’re discussing how to better organize a business and protect your finances, you might wonder what technology has to do with this discussion. Well, it has everything to do with it, much like other areas of your business that you may have been neglecting.
There are trickle-down effects in any industry, and your business could be ruining its sterling reputation as a professional empire, within whatever industry you operate, simply by engaging in an amateurish use of technology and perhaps the internet.
Incorrect use of social media profiles and poor web design are two of the biggest ways that businesses make a bad name for themselves and their brand, because a bad website layout, cringeworthy social media posts, or other misuse of the internet’s capabilities can leave a question mark lingering in the minds of clients.
If you can’t grasp the correct way to organize your profiles, update regularly and constantly, whilst also keeping your web design fresh on a regular basis, then potential customers and other clients are going to rapidly lose interest in your organization.
Make a schedule when it comes to your use of online marketing techniques. Don’t forget about your Facebook or LinkedIn profile. Make internet research a regular priority, and devote some of your employees to working on your profiles and website development. Hire new people to do that, if needed. This is about your company brand, which you could damage through poor digital marketing. Your profits might hurt too, if you’re not careful.
Remember, organizing your business is keeping your finances secure is about keeping on top of everything. To do so, you need to delegate tasks to others and ensure every last cog in your business is ticking over smoothly.