How to Save Time and Money In Your Small Business

1128_4577288Time is the most valuable thing you can give anyone especially for entrepreneurs.  Last week, I spoke with Sage CEO Stephen Kelly, about how to help entrepreneurs save time and money, because time is money in business, Right?  Here’s a link to our Youtube chat.  New research commissioned by Sage shows that entrepreneurs worldwide put in many hours after the rest of the world goes home –the ‘after hours economy’ they call it. I bet we could help small business owners cut some of those hours by leveraging technology better, prioritizing key tasks, and breaking that workaholic culture. Here are a few more suggestions to save time and money in your small business:

  1. Focus on 5 main tasks a day, get them done before 11am
  2. Set aside two hours a day for sales activities
  3. Leverage virtual staff! Don’t spend your precious time doing $20 and hour work, EVER

The survey showed that business owners contribute $8.3 trillion to the economy, just with those extra hours, but that’s a tough way to live. Over half (52%) of German small business owners have cancelled a ‘date’ because of work. This is particularly high compared with the global average of 27%. Far too often small business owners are workaholics, People are giving up family time for their businesses. Globally, 44% of business owners say that their dedication to their business has affected their personal relationships. Here are few things that small business owners can do to become a family first entrepreneur.

  1. Schedule date nights (and don’t break them)
  2. Do same day travel so your family can still have some of your time
  3. Unplug! Don’t have your cellphone at the dinner table or sleep with it on your nightstand.
  4. Working parents, don’t start up work on your laptop until the kids are in bed

So what are some great technology tools that you can use to save time and money in your business? Here are my top five tech tools:

  1. Dropbox: This cloud-based, file-storing service lets you bring your photos, docs and videos anywhere and share them easily with your laptop or mobile device. Move all your files to the cloud so you can access them from any anywhere. You can also interface with your team to share files, which provides great version control and cuts down on e-mail.
  2. GoBackup: If I lost my phone data, I would be lost. GObackup can back up and restore not only your contacts, but it also stores your calendar, call log, and text data too. If you are running your business from your cell phone, this app will be a lifesaver.
  3. Hootsuite: Hootsuite lets you plan your social media posts in advance and then schedule when you want them released. It works for most channels like Twitter, Facebook and LinkedIn as well. Using Hootsuite, you never have to feel overwhelmed with social media. Scheduled in advance, go run your business.
  4. 1Password: If you have ever forgotten a password, you are going to appreciate this tool. 1Password offers you a system for managing multiple accounts with the same login details. You no longer have to remember several usernames and passwords. My favorite part is that you can create a special password for team members too.
  5. Sage One: Accounting software that is perfect for DIY accounting or working with a bookkeeper. You can access records from anywhere, even your mobile device, create and send unlimited quotes, store details of customers and vendors, track income and expenses, accept online payments through Sage Payment Solutions or PayPal, manage cash flow from the financial dashboard, gain valuable business insights from analytics and reporting, create and send online invoices in multiple currencies, link your financial accounts (over 12,000 institutions supported), and add multiple users.

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