How Can Your Business Make More Money?

Business owners often ask me how they can make more money.

Most small business owners feel that their business is not making enough profit.

And not generating enough personal income for the work and talent they put into the business.

I tell clients that the quickest way to make more money is to sell and market better.

In the video below, I make five suggestions that can provide fast help.

I also talk about the importance of getting to the root of your business problems.

To make more money, you need to spend more time on activities that make money. And you need to spend less time fighting paperwork problems and bookkeeping hassles.

You need to outsource your bookkeeping and use a paperless office system.

How Does Bad Bookkeeping Hurt Your Business Results?

Most small business owners don’t realize how many problems their in-house bookkeeping is causing.

Bookkeeping is critical for any business.

In most small businesses, though, bad bookkeeping hurts business results in two ways.

First, bookkeeping hassles eat up big chunks of the owner’s valuable time, seriously hurting productivity. Lacking time, the owner never gets around to working on strategy, analysis, and systems.

Second, the bookkeeping system fails to provide the accurate, timely financial data needed to make good business decisions. The owner makes decisions by seat-of-the-pants assumptions and the assumptions are often wrong.

The typical business owner is like a pilot in a snowstorm without an instrumental panel. He doesn’t know where he’s at or where he’s going.

In this video, I talk about the problems and the solutions.

How Can You Become More Productive In Your Business?

Many clients ask me how they can become more productive.

Here are seven suggestions for immediate help in becoming more productive:

• Set daily goals.

•  Do your most unpleasant tasks first.

• Schedule your most important tasks for your times of peak productivity.

• Batch similar tasks. For example, handle the phone calls in one session at your desk. Handle errands in one trip.

• For meetings, provide clear, written, timed agendas in advance.

• Break complex projects into smaller, well-defined tasks.

• Schedule specific and limited time for emails and phone calls.

These suggestions, though, won’t solve the root problems of your business.

For most small businesses, paperwork chaos and bookkeeping hassles are the biggest time wasters.

These problems, though, can be solved. To see how, watch my video.

Why Is Bookkeeping So Bad In Most Small Businesses?

In most small businesses that keep their bookkeeping in-house, bookkeeping is done poorly.

And most small business owners don’t even realize how many problems their in-house bookkeeping is causing.

The bookkeeping system performs very badly because of how it begins.

-- The Typical History Of Bookkeeping In A Small Business

The business owner lacks experience and expertise in bookkeeping and accounting.

Still, the owner assumes he needs to keep the bookkeeping in-house.

Because the owner doesn’t want to pay much, he hires a bookkeeper willing to work for $15 to $20 an hour or less. To hire a fully competent bookkeeper would cost more.

The bookkeeper hired is usually able to do only about 75% to 80% of what needs to be done.

This leaves a competence gap that creates big problems for the business.

But with current network technology and cloud computing, you can completely outsource your bookkeeping and accounting!

I explain all these things in more detail in the video below.

 

What’s The Most Important Thing To Improve Your Business?

As a business coach, business owners often ask me what’s the most important thing they can do to improve their business.

One thing I suggest they do is to apply the model in the E-myth series of books. The top earning owner works on his business, not in his business.

Watch the video below and you’ll see my other suggestions.

One of the hardest things for the small business owner, though, is to free up time to work on his business. Two keys to freeing up time are outsourced bookkeeping and going paperless (link) in the office.

If you want to see how much these two actions can help, please read our free report.

What Two Questions Should You Be Asking About Your Business?

As a business coach, I talk to a lot of business owners. Every small business owner asks questions like:

     - How can my business make more money?
     - How can my business increase sales?
     - How can my business improve cash flow?

These are good questions.

To really make progress with your business, though, you need to go deeper. You need to ask questions that get right at the roots of your business problems.

You need to ask these two questions:

     - What things am I doing that I should not be doing?
     - What things am I not doing that I should be doing?

These two simple questions lead to profound results.