Small business owners face the difficulty of having the world on their shoulders. Unable to afford the plethora of employees and assistants that medium to large size businesses have, small business owners often find themselves handling all of the responsibilities and work. Forbes contributor and Product Manager for Stage One Mike Savory points to six different innovations to simplify the workload of small business owners.
Savory points to the following six different techniques for small business owners to take advantage of: (1) going digital with work processes; (2) setting aside time on a daily basis; (3) “hiring” an electronic assistant; (4) utilizing cloud databases and solutions; (5) facilitating payment for customers; and (6) managing workload with an easily accessible dashboard.
Five of these six solutions involve investing in various technological and digital software programs to help boost productivity. Setting aside time on a daily basis however, allows small business owners to manage necessary responsibilities that help keep a business afloat. Savory notes, “Spending just a few minutes a day on invoicing, or whatever your least favorite tasks are, helps you consistently avoid falling behind.”
The other solutions offered by Savory involve a number of different software programs. In a poll by Sage, “among 801 small U.S. businesses found that 71 percent of small businesses use Microsoft Word or Excel to create invoices, and 47 percent send invoices to their client in the mail.” Digitizing invoices is one step for small business owners to boosting their productivity.
Savory also points to other technologies such as hiring an electronic assistant such as oDesk or Fiverr to set up automatic reminders as well as utilizing cloud database management and allowing a dashboard to keep track of the various work related projects that small business owner’s have to undertake. Finally, Savory points out that relying on checks for a small business owner is no longer sufficient-utilizing credit card processing on a smart phone is a necessary expense.
For the small business hoping to expand, Capital Solutions can provide quick capital for businesses hoping to pursue smart growth. Eighty to ninety percent (80-90%) of an invoice or purchase order may be provided by Capital Solutions to business owners as a cash advance prior to payment by the customer. The remaining ten to twenty percent (10-20%) is held in reserve with the factor. When the payment is received, the factor releases the reserve less the charges incurred back to the company.
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