Small business ventures have been on the rise since the Great Recession kicked in. One of the reasons why more individuals have been able to take their first steps into business is technology. With recent technological advances, almost anyone can set up a company and work with outsourcers thanks to collaboration tools. It is now easier than ever to form a team of workers to feel fully connected.
A Steep Learning Curve
While stepping into the world of an entrepreneur is easier than ever before you can still expect a steep learning curve ahead. There are many different parts to running a business that you need to take control of, even if you do outsource some of the work to others. You might have the idea in your head that you will spend your time doing what you love and the rest of the time with your friends or family but the reality is far different. Your business idea itself is only a small part of it, you have to actually run the business too which involves marketing, advertising, accounting, sales, website management, logistics and distribution, customer service, stock control, merchandising…the list can go on and on and varies from business to business.
Tools to Implement
- You will need a complete accounting package as soon as possible as you will have to answer to the tax man and have the ability to invoice others, receive payments, keep an accurate eye on your incomings and outgoings and be knowledgeable for any business planning or investing. There are online account packages that offer affordable services, ideal for starting out. You can use free services at the beginning and as your customer base grows you will have to increase your package – which will incur a small cost. Alternatively you can invest in accounting software but you will most defiantly need assistance with managing this unless you have bookkeeping or accounting experience.
- Security is essential as you will be storing delicate data belonging to yourself and your customers. You will also need to ensure that your data is backed up and that the network is secure from hackers and viruses. In order to achieve peace of mind and set up a reliable server that is secure you will need to look at options such as the LinExchange from SevenC.
- Your list of jobs will be endless so you will need to set up and learn to use a project management tool. These tools become even more valuable when collaborating with others. They provide an online place where all the different projects and people can work in real time – you can even set up areas for clients to keep an eye on your current progress.
Save Yourself Time and Get the Basics in Order
More than ever before your time will be fleeting. You will spend your evenings and weekends to the tedious tasks that you might not have thought about. This may put you off starting your own business but it shouldn’t. If you do the ground work in the early days the sooner your business will be able to thrive leaving you with the ability to hand over more jobs to employees and finally the time you seek will be yours, if you want it.
About the Author
Alex is a freelance copywriter and an entrepreneur. In the past three years Alex has produced over 1000 original articles that have been published on hundreds of websites, providing useful and entertaining information to global readers. Alex mainly produces articles and blog posts based around small business, entrepreneurs and small business finance.