Time saving tips for business owners often include ways to use technology to move your business ahead. If you’re looking for that blog post, go to another blog. I don’t think any amount of technology can help you build a business if you don’t have some basics in place already.
- Where are you spending the most time?
- How much money is that time generating?
- Who is your target client?
- What are the business income and expenses?
These are basics you need to know about your business. Understanding these will help you understand where you are spending resources and where you can create efficiencies.
Here are ways to create efficiencies in your business with these time saving tips:
- Know Your Strengths: Understanding yourself can go a long way to saving you time in your business. Accounting isn’t my strength so I outsource it. I’d rather pay someone an hour of time if it saves me a couple hours of stress.
- Identify Your Target Client: Rather than restricting you, as many people think, identifying a target client will allow you to say no to people who may not be ideal. It doesn’t mean you will always say no; it means your focus is on clients that you truly want rather than just the ones who want you.
- Processes & Procedures: Creating processes for your business will create efficiency and relieve some of your stress. The process to vet a prospective client, for example, has saved me countless hours in meetings with people who really are not target clients.
- Know Your Numbers: Even if you’re not handling your own accounting, you have to understand where your business is financially. You want to know you’re not spending more than you’re making so you need to know income and expenses. You also want to know your products and services are priced to be profitable.
- Networking and Marketing: At least once a year evaluate your networking and marketing efforts to be sure you’re making and not wasting time. A networking group might be fun but if it’s not making you money, consider another group.
Understanding these basics about your business will help you save time and build your business. It’s not always about the latest technology. Sometimes it’s going back to basics and reviewing our business that can lead us to growth and success.
What are your time saving tips for business owners? Please share in the comments below.