Most economists agree that outsourcing accounts, provided that a reputable accounting and financial service provider is chosen, is a worthwhile exercise in terms of freeing up your time as a business owner. Once you have this newfound time on your hands, however, how should you use it?
Here are four of our suggestions on what your next steps could be, and how you can use the time alleviated by outsourcing to gain profit and control of your business:
1. Promote yourself
You know how great your business is, but do you say it as often as you should? How often do you really spread the word about what your company does better than anybody else?
With more time on your hands, you will be able to spend a few more hours away from the workplace, perhaps attending networking events and seminars to meet like-minded businesspeople and generate leads. Even old-fashioned techniques like getting out there and talking to people on the streets might help you make your enterprise known.
2. Reflect as well as react
Owners of fast-paced companies often have little time to do anything but answer the call of immediate deadlines, and responding to anything that doesn’t go to plan can use up valuable time.
It’s as important to reflect on successes and lessons learnt as it is to react to issues. Through taking the time to identify what is going well and what could be improved, business owners can minimise the future time they waste and get a better grip off their company.
3. Set strategies
In business, ideas are too often settled upon on a whim. Use your added time to review your budget regularly and consider whether you are making the best or most responsible use of it. One of the most popular questions at a job interview is “where do you see yourself in five years’ time?”, and it’s one that business owners ought to ask themselves as well.
4. Arrange follow-ups
Many entrepreneurs identify prospective clients or customers, but don’t find the time to make them any more than one-time users of your company.
With the bulk of your firm’s accounting tasks off your hands, you will be able to pursue those people who have expressed an interest in what you do but have yet to commit. You can also seek feedback from first-time customers and clients, helping you to identify how well you are meeting expectations and letting the public know that you are a proactive business.