If you want to work shorter hours, then starting a small business probably isn’t your best choice. Small business owners often work nearly twice as long as employees at larger companies. Of course, there's a bigger dream at stake, and the desire to grow and thrive is a big driver. But even the most determined entrepreneur can't work nonstop. Inefficient use of time is one crucial mistake that can leave a small business owner working way longer than they actually need to. So what can a small business owner do to shave a few hours off their endless week?
Let Go of Control
Often small business owners think they need to do everything. Perhaps the thought is justified because they can’t afford to hire someone to do it for them. But often there's an employee available, and letting go of control has simply proved too difficult for the owner. Good small business owners need to know how to delegate tasks and trust their workers with the work they are given. Vetting employees well during an interview process to make sure they can be trusted with the necessary tasks is critical to handing over control.
Embrace Time Management
Poor time management is about more than personal distractions. There are so many items on a to-do list that a small business owner could easily get distracted organizing their filing cabinet when they need to be sending out invoices. An entrepreneur that wants to cut down on their hours needs to examine how they spend their time and prioritize tasks that are aimed at making money and improving the business rather than more menial jobs, which can be delegated to employees.
There is the old way of doing things, and then there's the new way. These days administrative tasks like accounting don’t need long hours with a calculator and a pencil. Instead, there are hundreds of different programs out there designed to make administrative tasks easier and faster for small businesses. Find the few that will make your days easier.
If you want to learn more about how you can save some of those precious hours spent working on your small business's bookkeeping and accounting, contact us today.