5 Interesting Ways to Gear Yourself Up For A Thriving 2017

Posted on 12/01/2017

Happy New Year everyone!

Can you believe it’s already 2017? Many of you would have come from vacation feeling all motivated and Interesting Ways to Gear Yourself geared up to strike 2017. Now is the perfect time to plan and implement your new ideas. Below are some simple and highly effective tips for you to make your work life a lot less stressful and much easier.

cash management

  1. Lay your roadmap

It’s about time you prepped your roadmap for the year and planned your budget. Your target and budget planning are the most crucial parts as they are precise and give you real numbers to ponder on. It is wise to fix monthly targets and keep tracking your progress. This way you will know when you are not performing well enough. When you look back on the numbers you are sure to realize some expenses which were totally unplanned but essentials. Bear in mind, without a definite goal, you won’t know what you are working towards.

  1. Bank account for your tax

Take away a few minutes of your time to open separate bank account for taxes. This small move would have a huge positive impact on your cash management, and needless to mention your stress levels too. Many small businesses collect their tax money and use it for other purposes. We will never know what the future has in store for us and definitely nobody likes surprises in this aspect. Therefore, it’s better to have the tax money in a separate account and not get tempted to use it up.

  1. Use Bank Feeds- the best time saver

We all know time is something which can’t be reversed or bought. But by using Bank Feeds you can save at least 10 hours per month. Wondering how? Bank Feeds is the place where all your bank transactions are sent automatically. This is done directly by your bank. Bank feeds saves a lot of time you spend on data entry. On top of it, you can also set rules like when and what transactions must be sent. Try it and save your precious time.

  1. Use today’s technology wisely

There are quite a lot of annoying mundane things which we do as small business owners. Cash management is a pain point for most of the small business owners and the most annoying thing you would have to do is ask your customers for money they owe you. Big thanks to the contemporary technology, which has automated this dreadful task. You can now automatically chase the unpaid invoices with the help of umpteen softwares which do the task efficiently for you. Debtor Daddy is one of the best apps out there. It automatically sends out emails to customers whose invoice is overdue by two days. What’s more? You will not sound like a robot as you can feed your own text for the emails. By using this app, you will get amazing responses from the customers and you are more likely to collect all the receivables.

  1. Try outsourcing

When you are a small business owner, you will find yourself doing most of the work in your business right from developing your product to marketing it to accounts. You will do everything but with limited knowledge and experience in each domain. There are a few areas which you can outsource at relatively lesser cost.

Outsourced Bookkeeping Services

Let’s say you are outsourcing your bookkeeping, you will not have access to the expertise of the bookkeepers you will also save a lot of time. Bookkeepers will tell you ways and means to save your hard earned money. Plus, you can effectively use your time to concentrate on things that fetch you more cash inflow rather than frittering away with unproductive things.

Do contact Joyce at +1-516-717-2049 for all your outsourcing needs.

Topics: Cash Flow Management , Financial Reporting

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