Five Tips on Running Your Small Business Effectively – While Also Running Your Family:
Rock Motherhood and Entrepreneurship
Date: February 29 2016
When you’re a mum and a business owner, feeling overwhelmed is almost as common as forgetting to reply to emails or losing shoes in supermarkets.
As small business accounts that have been operating for over 50 years, we’ve seen some truly magnificent business ideas stagnate because owners lose sight of the initial passion and vision and in fact become jaded with the whole process. And we can’t blame them - it’s easy with everything else going on, and it often comes down to the fact that it can be a huge chore running a business on a daily basis, satisfying the obligations of regulatory bodies such as the ATO, and of course looking after the little ones you love.
If you find yourself in a situation of being overwhelmed, we’d suggest you take stock, sit back and regain the initial inspiration. You don’t want to let your business run your life - as much as starting a small business is about making money, it is often a lifestyle choice as well.
The team at m.a.s accountants have put together five simple tips on how to take back control over your life, by getting your business to run itself, not you!
1. Take advantage of professional relationships. Sure it may cost a few extra dollars to pay your accountant, but the time you get back can be priceless. You’ll either get some of your life back or be able to invest more time into doing what you love.
2. If you employ staff, empower them to take charge of the business in ways such as allowing the free flow of new ideas. Don't just give them a run sheet to follow.
3. Mobile tablets such as iPads can often be used in ways to improve your lifestyle. From accepting mobile payments to cloud based bookkeeping or social media, they can all be done from such devices.
4. Set a regular day and time to perform the necessary compliance work such as bill payments and meetings with accountants/solicitors etc. Select a day that you know is the least busy for your chosen field and stick to it – if you know have a time and space dedicated to this type of business, you won’t stress about it when you’re doing other tasks.
5. Actively seek out business networks and connect with like-minded people to bounce ideas off. This includes other mums who own businesses, or people in a similar field – knowing you’re not the only one going through the stress or hassles you’ve got will certainly help!
Being disciplined is what keeps yourself going as an entrepreneur. Check out lifehackerguy on how he has done it for the past 20 years.
ABOUT THE EXPERT:
We hope these five tips help you rezone and refresh your perspective on your small business. We understand its easy to get overwhelmed or feel like your business is running your life – not the other way round! For some more information, tips or to get your small business accounting in order, contact m.a.s accountants, the small business accountants in Sydney.