I will confess – the focus here is on administrative time. Those are hours of your life you will never get back. Let’s reveal some ways you might be wasting precious hours, and then look at ways to reclaim those hours and actually do something fun or focus on improving your business! You might be wasting time, if you are…
- Manually recording sales or mailing out customer invoices yourself;
- Storing paper credit card receipts and entering them later;
- Keying in handwritten timesheets;
- Filling out business tax forms by hand; or
- Monitoring your business only from outdated, paper reports.
Add up the minutes you spend on these tasks every day, over a month, over a year. Apply a dollar value to what you could be doing with that time. Feeling your arteries constrict? Before you head off for a physical, let’s review a couple of recommendations: automate and integrate.
I recommend automating any task where you can make more money with the time than it costs to automate the task (or where the cost is small in relationship to the stress-relief). Modern accounting technology providers do just that. A provider exists for time-savings in each of the time-wasting areas we addressed. But, integrated apps are key to successful implantation, meaning apps talk to each other to eliminate manual reconciliation (another headache). Combined, these two strategies can redefine your accounting process, your time, and your business performance.
Want to learn more and develop a specific plan for your business?
Contact Spencer Jones at email@example.com or visit our website at www.reachcg.com.