It’s an exciting opportunity to run your own business – using your own skills and experience to create your own success in the market. But in the early stages, it can feel like a bit of a whirlwind, with so many aspects of business management to handle in any one day.
Each day can be wildly different to the next. In this fast-paced environment, some business needs, such as your admin, can also fall by the wayside as you focus on other important matters. Admin is one area of your business that’s especially important to get right. Our advice on how better to organise your business administration aims to help.
Limit excess in your office
It can be easier to manage your admin responsibilities if you have your own dedicated space to handle it in. A well-structured office can help ensure your business paperwork and documents are organised effectively.
You should make your office a place that’s clearly laid out and organised. So try to avoid it feeling too cramped and stick to the essentials that you need to work effectively. This can help keep your mind free from distractions while you’re working. It can also help reduce the amount of time you spend on your business administration work.
For example, depending on your business, your home office could include a spacious desk, a computer with accounting software, pens and paper for note making, and some filing cabinets for storage. This should give you a well-organised space that’s designed for you to work well in, and help you focus better on your admin responsibilities.
Prioritise your needs
When running your own business, your admin duties might not feel like a priority when you’d prefer to focus on managing and growing your company. It’s an exciting venture and a rewarding opportunity. In that excitement, though, some duties might get unintentionally pushed to one side as you focus on other business issues.
You should review each of your business administration tasks based on quantity, importance, and time frame. Some of your tasks might be small enough to complete by the end of the day, for instance, while some could use a larger time frame.
Where you can, you should try to create time to focus on your admin. Maybe early on in the week, spend time reviewing any duties that still need to be cleaned up from the previous week. Later in the week, you can focus on the bigger tasks that need more of your attention. This could include ensuring receipts, expenses and supplier transactions are all tracked and filed accurately.
By breaking up and prioritising tasks based on importance, you can get a better handle on what needs to be done and when for. Being organised like this can also help you keep a clearer picture of the state of your business, such as observing profit increases month by month, for example.
Use business support
If you’re new to business, some of the more technical administrative responsibilities might feel new too. Being unfamiliar with certain tasks, or unfamiliar with how to handle them better, can eat up time that you might prefer to spend elsewhere in your company.
It could be that some tasks are more confusing than others, purely because you have less experience handling them beforehand. Or it could be that some tasks feel larger than anticipated and that they’d take up too much time, which you could use on growing your business.
So it’s a good idea to use a business support service. Consider making a judgement on what support services work best for you. Using business support doesn’t necessarily mean everything is handled for you. Keep the tasks that you know you can handle well, for instance, and offload larger tasks, and those that are new to you, to dedicated professional support services. This ensures that all your business’s admin is organised and handled in a professional manner that works best for you.
Helping your business grow and succeed with our bookkeeping services
Creating the time to organise and manage your business administration, like your bookkeeping, might not feel like a priority at times. It can often feel more exciting and engaging to spend your time drawing in lucrative new business, or developing your services, for example. However, it’s still important to know that your business’s paperwork and admin is in good order.
It can often be beneficial to use business support services and free up your time to spend elsewhere. If you’d like some additional support in managing, operating and growing your business, TradeFit can help you.
We provide a range of support services that are designed to help businesses run as effectively as they can. Whether it’s call handling services, or taking up your bookkeeping and accounting duties, we’re here to help.
To learn more about our services, please see our accountancy software management page. Alternatively, you can request a free 14-day trial to see for yourself how TradeFit can help your business.