There’s a lot that goes into starting a small business and running it through the first few years. In the early stages, one of the most important pieces is simply deciding which goals to tackle first. Consider the below management tips to help you along your journey as your grow your small business.
Invest in Your Education
No one wakes up an expert of their industry. It takes time, patience and schooling. If you are nervous about furthering your education because of what it will cost, there are options. Take some time to research the various scholarship and student loan options that are available. Educate yourself on possible scholarships and the different types of student loans that are available.
There are also plenty of free courses for continuing your education that might be of use as you embark on your small business journey.
Empower Employees Through Training
Training your employees may seem like a given but set aside some time to really dive into what their role is and how it benefits the company. Not only do you want them to feel comfortable at your business, but you also want them to learn and fully understand the operations. If somebody feels comfortable at their job, it’s likely their performance will be better. You can get more tips on employee training and engagement here.
Delegating is Key
As a small business owner, you wear a lot of hats. At first it can be difficult to pull back a bit and delegate more responsibilities to your employees. Remember, you spend a lot of time training your team and they’re there to support you, so take advantage of that support. This will not only free up some of your time, but also help your employees better understand the moving parts of the business.
Aim For Inbox Zero Daily
Tackling your inbox could be a hefty task and sometimes become overwhelming. Inbox Zero is an approach aimed at keeping your inbox empty at all times. With each email you must decide whether you want to delete, delegate, respond, defer, or do. Inbox Zero is an approach aimed at keeping your inbox empty at all times. With each email you must decide whether you want to delete, delegate, respond, defer, or do.
Inbox zero can help you prioritize what emails you want to take action on and improve your time management.
Separate Your Personal Finances
Mixing your personal finances and business finances can be a collision of two worlds. If your business were to face any financial roadblocks down the road you want to make sure your personal finances are safe. Consider setting up a business account that is solely dedicated to your business incomings and outgoing. This will also be particularly useful when tax season rolls around. If both are combined, you’ll need to separate personal and business transactions, which could take time away from focusing on your business.
Shiny Objects and Distractions
Success is possible when you take the time to pave the way. Once a small business begins to get into a groove, it can be easy to lose sight of little accomplishments and only focus on ‘shiny objects. It’s important to remember that every accomplishment, no matter how big or how small, is noteworthy. Give praise for the little wins, and keep your eyes set on the big ones.
Be Open to Change
Whether you have a big picture plan, or are simply taking it day by day, it’s important not to let interruptions hold you back. Things happen that we can’t always predict or avoid. The ability to adjust and handle whatever is thrown your way will help keep you and your business moving forward.
Schedule Free Time
Time is valuable so accounting for some delays in your day can help keep your schedule on track. Block free time out in your calendar throughout the day, giving you some room to breathe, get coffee or make it your next meeting.
The Pomodoro Technique is a popular time management method that is used to break down work into shorter intervals. The recommended time is a period of 25 minutes followed by a short break.
Realizing you only have 25 minutes to accomplish something can increase your productivity. It also eliminates the pressure of finishing an entire project, since it can be unlikely, you’ll finish a large assignment in the little time allotted.
Enjoy the Ride
Remember, this is your journey. Enjoy it.
Rachel Dix-Kessler is the Consumer Advocate of personal finance comparison website, finder.com. In her role of Consumer Advocate, she analyzes and reports on the spending and savings habits of Americans. Rachel is passionate about studying financial trends in order to provide actionable advice that encourages more people to talk about, and understand, their own personal finances.