Are you being cost effective in your business?
Growing your small business is incredibly exciting, but it’s often a nerve-wracking experience at the same time. If you want to scale, you will need three types of people: the visionary, the specialist and the manager.
Growth requires you to invest a significant amount of time and money and it can take a while before you begin to reap the rewards. We’ve pulled together some powerful tips to identify how much your time is worth, but more importantly, is your time being used cost effectively in your business to accelerate growth.
By putting the right strategies in place, you can propel your business towards success and create the company you’ve always dreamed of.
So, what’s your time really worth?.
If you want to scale your business, you have to stop working in it. Many small businesses put off hiring a team for a later date, but in actual fact, it pays to do this sooner rather than later. Taking on tasks that you don’t enjoy or have little knowledge of won’t save you money, it’ll cost you in the long run. It is easy to become overwhelmed in running a business and during this time any unnoticed administrative and bookkeeping errors could compound and devastate your budding enterprise.
A good VA truly is an investment in the financial health of your business both now and in the future. Of course, every business owner has a unique set of needs and circumstances but identifying the best time to hire help will allow you to get back to doing what you do best!
Where to be effective in business
Rapid growth means new customers, new hires, more investment opportunities and many more demands on your time. As your business grows, new challenges will arise and it is best to have an expert on hand to deal with them when they do. Growth is fantastic but it can lead to instability and the right team can help to keep your business on the path to financial success.
As businesses strive to grow their bottom line and make inroads in the market they are in, the relationship between company growth and available resources is not as straightforward as it might seem. Revenue growth requires financing and this largely depends on the company’s resources. However, if you are ready to step outside of your comfort zone, your company could be on its way to great success.
To find out how to work out the true representation of your “PAID” EHR [including those hours and tasks which often go unpaid but are vital for businesses to operate] and where to be more effective in your business, contact us today for your FREE e-guide.
We’ve written a guide that illustrates how effective you are working by identifying where you may be wasting time and energy in your business, and where tasks can be outsourced. Simply put, unpaid hours equal loss of profit.