As a small business owner, you feel like you are open for business 24 hours a day. Before opening the doors for customers, you have to get the store ready for business. After the day ends, the time comes to process all the financial data into a neat statement that tells you how well your business did for the day.
Successful entrepreneurs share similar traits that include a dogged persistence to succeed. However, by following six unique tips for small businesses, you will think outside the box and thus, separate your business from the competition.
Integrated Credit Card Processing
You know you are hard pressed for time, so the time is now to ditch your manual accounting system. Not only will a digital and fully integrated credit card processing system save you time reconciling the books, you will also benefit from a much more accurate description of where your business stands financially.
A credit card processing company such as Double Helix Processing can help you link your accounting software to an integrated credit card processing system. The much more simplified payment process directly sends your credit card sales data to the existing accounting software program
In addition to time and accuracy, here are a few other benefits of installing an integrated credit card processing system:
- Lower costs
- Improved cash flow
- Enhanced financial data security
- A much smoother workflow
Stay on Top of Current Events
Your daily routine might start with a quick read of the local newspaper and/or the Wall Street Journal to learn about what is happening in the business world. Even a few minutes on Yahoo’s business page can provide you with insight into what is unfolding around you. However, no matter how much you are pressed for time, taking 15 minutes out of every day to keep up with news and developments regarding the economy is important to know how public policy affects your small business.
For unbiased news on economics, business, trade, and more, you can stay on top of current events by visiting Newtrals where news is reported without opinions and full sources provided.
Delegate, Delegate, Delegate
You seem to have it all when it comes to running your small business. A sharp vision got you started, and you have carried the vision on by implementing sound business practices. Every trait an entrepreneur needs is a part of your professional arsenal. There is just one thing missing, and it is taking a lot of time out of your day.
You are trying to do too much.
It is common for small business owners to wear many hats, but savvy small business owners share the hats with qualified members of their teams. Not only should you delegate some of the operational tasks to the high achievers on your team, you should also network with like-minded entrepreneurs to share knowledge and learn more about the most recent trends that influence your small business.
Trust a Mentor
Mentoring remains one of the most effective business operating tools. An educator, a family member, or a former colleague can become the inspiration behind your business ideas and leadership skills. A mentor acts as a priceless sounding board for all your ideas because he or she lives by the creed, “Been there, done that.” Running a business should not be a journey that you travel alone. As Cooked Inc’s Mariam Harris said, a mentor is “not somebody who will take over.”It’s someone who’s going to nurture and help you.”
Master Digital Marketing
If you want to be the master of anything, it should be knowing how to leverage digital marketing tactics for your business. Competing against bog box retailers and other types of large companies requires you to dig deep into your digital marketing bag. Creating a business page on Facebook and Google does not cost your business anything, and it should generate more interest in your business. A small business website does not have to be dozens of time-consuming pages. Just upload relevant information that helps visitors to your website solve problems.
When you solve potential customer problems, you build the level of trust that leads to retaining loyal patrons of your business.
Don’t Stop Learning
When you became a small business owner, you did not ascend to the proverbial mountaintop of your chosen profession. In fact, you reached a stage where the learning curve got much steeper. Running a small business is a constant process of learning, especially learning from your mistakes. In addition, it gives you the opportunity to broaden your professional skills by taking one or more low cost online classes. Online learning is the perfect fir for small business owners, because it allows you to learn on your time. Whether you need to learn more about integrated credit card processing systems or simply brush up on your management skills, you will always have something to learn as a small business owner.
Bonus Tip
Running a small business is not just a job; it is a lifestyle commitment that can wear down the most determined entrepreneur. You should focus on taking care of yourself by eating healthy, exercising regularly, and yes, getting enough good sleep. Work on your time management skills by doing things like integrating a credit card payment processing system, and you should have enough time to take care of number one.