How to run a business and do more of what you want (and less of what you don’t!)
When discovering how to run a business – one thing’s for sure…….it’s time-consuming.
No matter what type of business you own, your time will soon be maxed out by admin tasks such as invoicing, marketing and meeting new customers. You need to free up more time to run your business.
This lack of time impacts on you in two ways. Firstly, you always have that feeling of not being able to get what you want done whilst at work and secondly, you have less time to do the things you enjoy outside of it.
So you are left feeling behind whilst at work and unfulfilled outside of it.
But how can you change that?
Automate Admin Tasks
All too often you’ll find yourself spending hours on important admin tasks such as bank reconciliations and invoicing. These are a drain on your time and don’t actually make your business any better.
However, the time these tasks take can be significantly reduced if you automate them. Better spreadsheets, accounting systems, uploads, and system integration can turn some of these time-consuming activities from hours into minutes with a simple click of a button.
Single Tasking can be better than Multi-Tasking!
You start doing one task, switch to another before remembering a third, moving on to that, and then going back to the first.
Sound familiar? You waste endless hours going backward and forwards between tasks but doing none of them properly.
Research has shown that sticking to one task is not only more time-efficient but also improves the overall quality of your work. Rather than forcing your brain to split its attention in half, let it focus on the task in hand. Once you have completed that task well, you can move on to the next.
How to run a business – Planning
You have loads to do and it’s all kept inside your head. By Friday, you’ve realised you haven’t completed all your business tasks so you spend most of the weekend working to make up for it.
You need to plan ahead. Spending an hour at the end of each week planning the following week in advance will allow you to allocate enough time to ensure you get everything completed. This way, by the time you get to the end of the following week you’ll have a much greater chance of achieving all you wanted.
Then you will be able to take the weekend off work!
We’ve all heard of the 80/20 rule; that 80% of outputs come from 20% of the inputs (effort in your case). So, how does this work in practice? A great way to benefit from this is to look at the list of your tasks each day, choose three that are absolutely vital and make sure they get done, even if that means nothing else is. By the time you get to the end of the week you can then be assured that the most important tasks will have been completed.
Technology has completely changed the way we work, mostly for the good. However, it has also led to an interruption culture. For example we can be working away and then find ourselves distracted by an email notification appearing in the bottom right of the screen. These distractions reduce our efficiency and have a detrimental effect on the quality of the work we produce.
To alleviate this, allocate specific time slots in the day to go through your emails. During these times focus on reading and replying to emails, creating actions, and incorporating them into your plans. Outside of these slots, your email program should be shut down. Your day will then be email interruption-free so you can concentrate on the task in hand.
Being a business owner isn’t easy. You can end up working all hours whilst still finding yourself behind. This will have a negative effect both your business as you’re unable to focus on what’s important and also your personal life as you have less time to spend with friends, family, and having fun.
Taking some of the above steps above on board could help you take back control of your life by freeing up more of your time.
Outsource your accounting tasks with THP Chartered Accountants
So to free up more time to run your business, why not get the ball rolling by automating some of your admin tasks? Speak with a member of our team here at THP Chartered Accountants to discuss how we can help with your accounts and bookkeeping. We have accountancy offices in Wanstead, Cheam, Chelmsford, Saffron Walden, and also in The City. Alternatively call us to discuss our cloud accounting solutions, and how they could benefit your business.
About Mark Boulter
Mark Boulter is responsible for the efficient running of the firm’s infrastructure, and ensuring that THP delivers the best client service. Promoting the vision and culture across all branches, people are the key: “I like people who have a fresh approach and I’m happy for them to run with their ideas,” he says.
Communication across departments is crucial and Mark pioneers this. He ensure that people and departments not only talk to each other, but that they share ideas– whether they’re about marketing, finance, sales, strategy or any other topic that can result in us offering a better service. “I think helping to develop the next generation of THP people is essential to our success,” Mark adds. “We’ve a lot of talented people and our way of doing things increasingly attracts ambitious newcomers who are looking for a fresh approach. That’s good for us and even better news for our clients.”