Under the current, unprecedented circumstances being efficient is more important than ever for small businesses.
Being efficient means getting more done in less time. Time is money: If you have more time, you can do more business, increasing your revenue.
The following four strategies are simple changes you can make today to make your small business more efficient.
Make Decisions More Efficiently
Very often decisions are made in a way that’s not efficient. Time is wasted and decisions that could be made in ten minutes drag on for days. To make decisions more efficiently follow two simple steps.
- Consider how much time and effort a decision is worth. Once you have a realistic timeframe, stick to it.
- Always ask yourself “Why can’t we make this decision faster?” Obviously, important decisions may take a long time, but by making a habit of asking yourself this question you’ll make sure that schedules are as efficient as possible.
Use Templates and Checklists
Templates and checklists are two simple ways to make your small business more efficient. With email templates you don’t have to waste time looking for the right words when you write to a client or a supplier. Checklists, on the other hand, make you more efficient because you don’t have to remember what’s the next step in an important process.
Avoid Unnecessary Meetings
Before calling a meeting always ask yourself if you could achieve the same result with an email or a phone call. If the answer is “Yes”, then that meeting is unnecessary.
If you decide that a meeting is necessary, then make sure that the participants understand in advance what’s the agenda of the meeting and what’s the expected result. This way everyone will be on the same page, reducing wasted time and ensuring that the meeting stays on track.
Focus on Your Core Business
Focusing on your core business allows you to waste less time on secondary issues, so you can concentrate on generating more revenue doing what you do best.
Factoring receivables is a good example of how focusing on your core business can make you more efficient. When you factor your invoices, you get immediate cash rather than waiting 30 to 60 days for your customers to pay you. This way, not only you improve cash flow, but you also get more time to take advantage of growth opportunities. That’s as efficient as it gets.
At ACS Factors we are able to advance cash on receivables for companies anywhere in the US so you can keep moving your business forward.
We are located in Upland, California, and have many clients in the distribution and logistics corridor which includes Ontario, Riverside, Fontana, Jurupa Valley and Moreno Valley.
Reach out today by email (info@acsfactors.com), telephone (909-949-5599) or through our social media accounts on Facebook, Twitter and YouTube to learn more about the benefits of turning your invoices into immediate cash!
