MTR Virtual Solutions, LLC

Posts Tagged ‘small biz tips’

Most entrepreneurs will have to look for ways to cut spending on their small business resources at one time or another.  Many entrepreneurs spend hours pouring over their small business bookkeeping in hopes of finding innovative ways to cut spending.   Some entrepreneurs focus on streamlining small business processes, while others  focus exclusively on reducing the small business budget.  It comes as a surprise to many how much can be saved by reducing the amount of paper used in everyday small business processes.

Less Paper in A/P & A/R for Small Business Bookkeeping

An entrepreneur can save paper in routine small business processes.  In small business bookkeeping, many entrepreneurs repeatedly print invoices to fax to the customers.   Less small business resources can be used by saving a PDF version of an invoice to the PC, and emailing or internet faxing a copy to the customer.   Cutting the amount of paper used in accounts receivable processes is one of the easier ways to rein in a small business budget.

Some small business processes include printing a copy of an invoice before paying it.  Small business bookkeeping can be automated in a variety of ways.  The business owner can simply modify the accounts payable portion of  small business processes to skip the printing entirely.  Many banks already offer small business resources for accounts payable processes anyway, so the business can opt for paperless billing.  Automating small business bookkeeping through online banking can also cut small business expenses.   Accounts payable solutions, such as online banking, can really help the small business budget.

Document management solutions for small business bookkeeping functions are important in cutting paper costs. The small business budget must allow for the necessary records management solution.  When small business processes are automated, and documents distributed electronically, the records should be organized and maintained in a records management resource.   There are some affordable small business resources that are ideal for storing accounts payable and accounts receivable documents.

It is easy to modify printing habits in small business bookkeeping.  Modifying small business processes to reduce the amount of paper used in A/P and A/R is a great way to save.   Printing less helps the entrepreneur save in small business resources, and this can help keep a small business budget in order.

How to deal with slow business …

I remember sitting in a powerful business seminar several years ago where they talked about “honoring seasons” in business.  I thought it to be a great lesson and it did leave a lasting impact with me to this day.  I had been struggling with the challenges that small businesses often deal with in the beginning stages.  I felt that I had put in the work and all of my efforts weren’t yielding the results I desired quickly enough.

The woman talked about ‘honoring seasons’ and remembering that your business will go through phases.  The seminar discussed how business owners needed to remember to relax when business is slow and utilize the “down period” for personal growth and development.  This period was identified as a “winter” or “fall” as far as seasons were concerned.  I realized that the business has to grow in stages and the entrepreneur has to honor the various stages.  This was a different approach to me, as I had grown quite comfortable in the state of perpetual angst and worry.  Many business owners end up in this state during the slower periods in business.

I challenge business owners to take the slower periods in business to regroup, recharge, brainstorm, network, strategize, and grow.  Learn to view the variations in business volume as an opportunity to renew and regroup.  The seasons in business are always temporary.