Running your own business isn’t easy, but thankfully with technology we can run things more efficiently and track the changes as we go. Long gone are the days we have to work everything out in a ledger or on a piece of paper. Tools are often available free or for only a few dollars. This not only allows you to take your company on the go with you, and makes working mobily easier every step of the way.
Once you have your business, do you know what you need to keep your business running smoothly? What tools can help you make your daily tasks easier?
Organization is one of the hardest things to do, and not just in the business world. You have to not only manage your email, your clients, your projects and invoices, bills and all of it. How can you keep ahead of it all and not get overwhelmed?
The reality is when you start your own business, you’re going to be your only employee. But setting up an organization for your business is key early on. Using an organization software is one way to help you get through the rough days and to track the amount of hours each and every project takes you. This is a good practice and to set up and get use to early, so when you have employees you can train them with your system and standards.
Track Your Progress
From the very beginning you need to set some goals for you and your business. What is your ideal income? And just how do you get there? One of the best ways to do it is to consider how your customers and business is growing. From tracking the income of your company, but also things like the amount of clients you gain each month – each adds up to your progress and your success.
Be sure you keep track of your Net Promoter Score or NPS. This will tell you how engaged your customers are and if your promotions are actually helping your company grow and head in the direction you want it to go.
Keep Your Finances on Track
Every penny counts when you are running a business. From what goes out and what comes in. Yes, seeing those checks come in the mail (or through Paypal) is great, but just keep in mind how much money is going out as well. You will have to not only make enough money to cover your expenses but the ones of your business.
Things to consider: How much your equipment costs, or software. How much do you spend every week on supplies for your business? Are there other costs you have like legal fees? Filings and more? What about subcontractors to get the job done?
Be sure you’re also tracking your mileage, remember that every mile you drive for your business is a tax write off and can help offset your total tax cost each year.
Keeping track of everything will help you stay on track, but it will also help you at tax time when you have to put everything together for your CPA or the IRS.
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