3 Ways to Stop Your Business Running Out of Time

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3 WAYS TO STOP YOUR BUSINESS RUNNING OUT OF TIME Howcan SMBowners save up enough time for life’s important priorities, without putting profitability and long term successatrisk?

Do youremember whyyou started yourown business? For many, it might have been to achieve a more balanced lifestyle, spendmore time with family, simply be the boss or be in control of how much you work,and when. All thathowever, requires one thing: time. That’s a resource most SMBs findthemselves lacking, andone thatcan’t be recouped once it’s spent. How can SMB owners save upenough time for life’s important priorities without putting profitabilityandlong-term success atrisk? Here are three ways todo so:

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PICK UP THE PACE WITH AUTOMATION Time moves fast when your business moves slow, and the sheer pace of doing business can often leave SMB founders scrambling to keep up. Often, founders lose the most time to relatively low-level tasks: administrative or routine processes which, while still essential to keep the business running, draw them away from more strategic work that generates real long-term value. Ideally, SMBs would hire new staff to handle those mundane tasks, but that’s a luxury only the few with ample working capital can afford. The alternative: automate as many of those tasks as possible. Today’s technologies allow even SMBs to streamline many aspects of their operations by either fully or partially automating their workflows. Cloud-based ERP platforms, for example, can automate a range of processes from inventory management to financial reporting, helping SMBs handle these day-to-day requirements at a much faster speed, with much less effort. Other platforms, like those for marketing automation or CRM, can speed up how SMB owners engage with new customers or follow up on potential service issues. Ideally, SMB founders should look at automation at the very start: installing the right ERP platform with CRM capabilities from day one can save them even more time that might be spent retro-fitting the business with new technology at a later stage.

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