Tag Archive: accounting



We’re approaching the time of year when people resolve to do various things: lose weight, quit smoking, get back to the gym and the list goes on.  Of all those things, typically business owners don’t think about getting their business in order, which is unfortunate because in order to run a successful business, you have to be organized.

For ultimate success, a business should run like a well-oiled machine.  There have to be systems and processes in place.  It saves time and money, has you making fewer mistakes and keeps you from constantly reinventing the wheel.

Look at the human body.  It’s the most magnificent machine there is.  It is comprised of a number of automatic systems that support proper function.  Each of these systems has a process that and all contribute to the function of the body.  The body continues to function properly until one of those processes or systems is disrupted.

The same is true with your business.  If you have established systems and processes for every area of your business, it runs like a well-oiled machine.  Use of time is maximized and productivity levels are high.  If not, things don’t run so smoothly and time is wasted and there are gaps that cause mishaps and poor customer experiences.  All of which negatively impact your bottom line.

If your business doesn’t have systems and processes in place, there’s no time like the present to create and implement them.  Start by assessing the current situation.  Get rid of the things that aren’t working, and then take a close look at what is working and be sure there are solid systems around those things. Next, create the new systems that are missing.  Typically you want filing, accounting, client and time management systems.

Each one of these systems is an integral part of running a successful business.  Having them in place can make or break you.  At the beginning of the new year everyone makes resolutions.  It’s a really easy thing to do; almost too easy.  You will find everyone popping up with things that they resolve to do in the year ahead.  If you’re a business owner and you don’t have established systems and processes in place, I strongly encourage you to seize the moment and take action now.

 


My last post gave you the first key system that’s necessary for business success. If your paper doesn’t have a home, get things in gear and set up that filing system so that you can get to the next key system!

You can’t successfully run a business if you don’t have a good accounting system in place.  For accurate and easily accessible records and having everything in one place, choose one of the user friendly accounting software packages on the market.

If you don’t know how to set up your accounting software, make the investment to have someone to set it up for you and learn how to use it.  Set up files for your receipts, client invoices, bills, etc and a process for entering things into the software you choose so that everything gets recorded.  Use the benefits that the software has to offer to the fullest extent.

Once you have everything set up, make the necessary entries so that all of your current invoices and expenses are there.  Consult a professional to find out exactly what things should be entered to make things flow for you.

My next post gives you key #3.

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