Regardless of the business you own and how successful it is, you should be proud of it. It takes a lot of time and dedication to get to where you want to go. Even if you have small capital, don’t wait to start your business; with any start-up, you just need to go for it. However, as well as minimising costs, you should also look to minimise time. As the saying goes, time is money.
Create a business plan
Research proves that one of the main reasons new businesses fail is poor planning. Creating a viable business plan will help to save you time, as that plan will serve as a structured road map. It’s also handy to show to your bank or any potential advisors and investors and will save you time in drafting up any new reports.
If you include an executive summary, product or service offerings, marketing plan, target market, analysis of your proposed industry and any potential competitors, all of the go-to relevant information will be in one place and easy to find.
Hire the right staff
Understandably, experienced employees come at a price – and, often, negotiating with them or trying to find one willing to climb on board can use more time than it’s worth. With that said, rather than chasing individuals who are highly qualified or experienced, start with employees with moderate yet efficient skills. Candidates brimming with potential and enthusiasm are perfect for your venture.
Nailing your hiring strategy will save time in re-hiring and firing employees until you find the perfect fit. One person with the capability to carry out basic tasks will keep your business running.
As a start-up, capturing every sales lead is essential; often, being able to do so means answering the phone. Answering the phone is the only means to guarantee consistently high levels of customer service; however, you may find that answering calls is becoming a distraction.
A call answering service can be your saviour in such an instance, as it can free up your time and limit any distractions. Also, consider that many call answering services offer their resources outside of your typical 9-5 Monday to Friday hours, saving you even more time than usual in chasing up leads.
Making a to-do list is highly recommended, as it will make sure that nothing goes amiss and that everything that needs to be done gets done. However, it’s inevitable that, sometimes, you’ll have to sacrifice one or two things. With this in mind, prioritise the order of your to-do-list with objectives of the most importance to the least.
Time management skills
In order to understand how you actually spend your time when working on your business, write down everything you do during the day-to-day running, from greeting clients to answering emails to chasing up leads, and time yourself. Include everything from breaks to social media, and you’ll soon find out what your biggest time-wasters are.
In order to be stricter with your time management, set yourself a deadline and tell others of this deadline. Not only will this motivate you to complete a project, it will also mean that you are held accountable.