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5 Tips for Simplifying Your Small Business in 2018

When you’re a small business owner, money and minutes always seem to be in short supply. There are never enough hours in the week, and the budget is never big enough for your aspirations. Those are two problems that share a common solution: simplification.

Simplifying your small business doesn’t have to be difficult nor expensive – many times it can involve using cheap or even free options, and making changes around the periphery of your business. But the ultimate goal is to free up your and your employees’ time for more mission-critical work, as well as free up cash for whatever your business needs, be it growth capital or just a rainy-day fund.

The following are a few tips for simplifying your small business.

Simplifying Your Small Business in 2018

1. Trim Down on Meetings: A little strategic planning can go a long way. But every minute is essential when just a few people are keeping a whole company running. So, if you’re bogged down in hours’ worth of meetings every week, it’s time to re-evaluate. For instance, shortening the allotted time can make a meeting more productive by forcing people to focus. And some meetings can be replaced entirely with quick update emails.

2. Go Paperless: Transitioning to a paperless office has numerous perks, including streamlining your office. For instance, it eliminates manual tasks, saving staff valuable time; and it helps save money on office equipment maintenance. Not to mention, it’s good for the environment.

3. Outsource a CFO: Hiring your own accountancy staff can be expensive in a number of ways – not just salary, but recruitment, training and retention. Many companies don’t realize it, but you have the option of outsourcing a CFO – hiring a firm that tackles all-important accounting, bookkeeping and other financial tasks.

4. Get on the Same Page: Wherever you can, try to get obligations to fall on the same date. For instance, try to have all insurance policies expire on the same date so you can review your policies at the same time each year rather than at multiple points. Similarly, try to set up bills such as electricity, power and water so they can all be paid out at the same time, or set up the autopay option if available.

5. Use the Cloud: Several online programs can help you simplify your operations. Email marketing management platforms, such as MailChimp, or accounting programs, including QuickBooks, can help small business owners automate many of their processes for minimal subscription charges.

Many small business owners assume that their modest operations don’t have room for trimming. Not so. The business consulting pros at McManamon & Co. can help you identify inefficiencies in your operations, yielding you extra man-hours and money that can be put to use growing your business.

Untangle your small business today – call us at 440.892.9088 or contact us online.

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