3 Tips to Becoming More Efficient in your Business

Managing your own business is many people’s dream. You get to be your own boss, work within the comfort of your home if you want, travel, make time for yourself and your family, and get to pick the clients and partners you want to work with. But when the time comes that clients keep on coming and deals are closed every single day, the need to search for efficient ways of managing your business will eventually arise.

Fret not! There are easy ways to help you and your business to be more capable of doing more without sacrificing too much or breaking the bank.

Here are three major tips to manage your business more efficiently and effectively while getting better results.

  1. Outsource

Getting services from contractors is one way to save time on things you are not an expert on.

When you need writers to copy edit and make content on your websites, just look into content markets and find the perfect freelancers for you. You can also check out graphic designers and web developers who can work with you in building your online presence.

Aside from that, outsourcing a virtual assistant who can help you in email marketing and managing your client’s’ concerns is another way to save more time and have quick and effective results.

Outsourcing not only helps your business but it also helps the businesses of independent contractors who are looking for clients like you.

  1. Move Your Business Accounts Online

While you are busy getting more and more clients over time, let the experts in the finance field take over. Seek experts who are not only fast in giving services but are reliable as well.

Services such as online accounting expertise from The Smart Accountants are a great way to help you with accounting concerns. They handle the online accounting and bookkeeping of your business, as well as automatic bank transaction feeds, and reports on annual accounts and tax of your business.

In this way, you will have more time to focus on building and expanding your brand and business.

  1. Project management tools

Establish a systematic process in your business which will cover all its areas. Make time to look on these process in the finance, marketing, human resource, and the sales and double check what needs to improve.

Seek the suggestions of your staff and your partners and come up with points on how to efficiently save time and effort in fulfilling these projects.

If you are working remotely, consider investing on project management tools. There are softwares and tools which lets you have a conference with the staff even when you are location independent. There are also ones that track and remind the projects they are doing, and the time they finished a task.

Managing a virtual staff can be a swift if you use software that will further enhance productivity while giving the staff ample time for rest and relaxation.

All you need is to look for trustful partners and tools which can help you reach your goals. Eventually, you will see your business grow.

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Staying Safe On The Roads

Whilst we all have our own budgets and stuff like that, safety is something we should never shirk on and is something that we should always be considering. When it comes to car safety and thus the safety of my family, of my children, money is no object. But just how safe are your cars? For instance, would you know when your car tyres need replacing?

Cox Motor Parts have created a fab infographic (read more about it here), talking about 10 warning signs that your car tyres need replacing. How many did you know?

Now I’m not the driver in our household but safety is paramount to me and I knew the majority of these. I must admit that I don’t think we change the tyre pressure as regularly as we should do which will be changing as of today and that I know of plenty of people who probably don’t even know half of these. So many of these things happen because people ‘don’t have the money’ to fix them – surely safety comes first?

It is important to have a budget but it is also super important to ensure the safety not only of yourself but your family, other road users and pedestrians too. Knowing what to look for when it comes to car safety is key to avoiding any unnecessary accidents. Why not pay the small amount to replace your tyres when they need replacing rather than run the risk of paying thousands if you have an accident or even paying with your life? It isn’t worth the risk. Get them checked.

How many of these did you know?

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Facing up to a retirement savings shortfall

When it comes to saving, a lot of people have good intentions. We might plan to squirrel away money into a savings account or make savvy investments, all with the intention of ensuring that we have an emergency fund in place.

Unfortunately, the actual process of saving isn’t always so easy; emergencies can deplete our funds, or we may simply not have enough disposable income to save effectively.  This means that savings aren’t always there when we need them, and it can be troubling to face a hole in our finances with nothing to fill the gap.

Retirees can feel this issue particularly acutely if they need savings to supplement their monthly income. Whether this income is from pensions or other sources, the fact remains that if savings are needed to keep topping up the pot, there may be problems when the fund runs dry.

Alternatively, pensioners may find that they simply haven’t saved enough to meet their needs. Either way, the concern is that many people with these issues may bury their head in the sand rather than seeking a solution.

If you’re retired and worried that you might be running your savings down too quickly, or you’re currently working but concerned you might not be putting aside enough money each month, then this is probably sounding a little too close to home.

Could your property bring you peace of mind?

Facing up to the fact that you’re having a savings shortfall, though sometimes uncomfortable, is an important first step towards finding a solution.

One such solution is equity release – a process which allows you to release some of the cash that is tied up in your home. Available to eligible applicants aged 55-95, equity release can be used to take a lump sum as well as, if desired, additional smaller amounts through use of a drawdown function. The most popular form of equity release is a lifetime mortgage, which is secured against your home.

Last year, the Financial Times suggested that the UK’s retirement savings may be falling short by around £11 billion each year, a concerning figure which suggests that people need to act sooner rather than later. Deciding that it’s time to take action is a good first step, but then it’s time to start fully investigating the available options.

Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. This means that it is important to be aware that there are other options too – such as downsizing – although, of course, this would mean leaving your current home.

If you’re considering equity release it is recommended that you read ‘is it right for you?’ carefully.

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