Time Management
Everyone gets the same number of hours in a day, but how effectively you use those hours will largely determine how successful your business can be. Time management is not just getting the most productivity from your working hours, but making good decisions about what activities on which to spend your time.
It's no secret that you can work very hard for very long hours and still fail in your business. The tips and tricks for effective time management fill many books, but if you seek to accomplish the most important tasks first and delegate more minor tasks to reliable employees, you will maximize your chances of success.
Simplify and Automate
Small businesses can quickly become incredibly complex and involve many different tasks and processes. It can easily get to the point where one person can't manage the running of the business without help, even when they have employees to do much of the work involved. Fortunately, automation gets more advanced with every passing year.
Chances are, the tasks that are eating up large chunks of your time (payroll, inventory, and customer service, for instance) can be automated with software programs or other computerized equipment that can help make your workload manageable again. One example of how to streamline payment processing and inventory is with Sterling Payment Technologies, which offers computerized point of sale systems that track inventory and generate monthly reports automatically.
VoIP phone systems also have many automation features that can handle customer service, scheduling employees, and report generation for many aspects of the business. VoIP systems are affordable and there are many providers available for different-sized businesses.
Customer Service and Adding Value
Excellent customer service before, during and after a sale will provide needed value to your customer experience. Successful businesses have carefully considered how to meet customers' expressed and hidden needs and have chosen their products accordingly.
Successful Startup 101 suggests finding higher quality products that you can offer at a competitive price. In certain niches, there will also be must-have brands that customers will need to see in your store in order to purchase there.
Surveying your customers to find out what products they want and how you can better serve their needs will ensure that you are putting your efforts where they will be most appreciated. Online businesses will capture email addresses that can be targeted with surveys, but even a storefront can set up a survey station in the store or develop a customer email list from which they can get information.
As with most business services, many of these suggestions will cost money to implement. If your business doesn't have sufficient cash flow but you still want to take steps toward greater success, a merchant cash advance from Quikstone Capital Solutions can allow you to implement new technologies or provide greater service now and pay it off over time as you reap the benefits.
