5 things you can do instead of worrying about bookkeeping
If you're the director of a small business or a start-up, chances are you're not also an accounting and bookkeeping expert. Unless you have experience as an accountant or bookkeeper, the many financial requirements of running a business can be daunting. Rather than overwhelming you with the ins-and-outs of bookkeeping and small business financial management, we're going to discuss what you should be doing instead.
1. Improve upon your products and services
The number one focus for small and new businesses should be their products and services. The stronger your products and services, the easier they are to sell and the easier it is to make money from what you love. Spend more time building upon and improving your products now, while you have time and control of your business.
2. Grow your customer base
Think back to the reasons you started your business. What need or problem do you solve? Who benefits most from the products and services you offer? Create a profile of your ideal customer and note down their lifestyle. Where do they find out about products and services? Who do they trust? When do they get downtime or time for research? What are they really looking for? Once you have the profile of your ideal client, set about contacting them and reaching out to them when and where they feel most comfortable rather then when it's convenient for you.
3. Create repeat business within your customer base
Once you have customers coming through your doors, it's time to consider how to keep them coming back. Even services perceived as one-off can offer opportunities to re-connect with a client for a related service. The more repeat business you can generate, the less marketing expenses you will have.
4. Implement a formalised referral system to do your marketing for you
Soon you will start realising that the best clients are those generated by word-of-mouth. They already trust you and are already willing to spend with you, because someone they trust vouched for you. The more of these word-of-mouth referrals you can generate, the more passive customers you will receive. How do you formalise it? Offer happy clients a discount off their next purchase if they send a friend to you or run a social competition involving tagging friends on Facebook.5. Hire the professional services of [geot country="Australia"]CFOPartners[/geot][geot exclude_country="Australia"]CFOSpot[/geot] to look after your bookkeeping for youThe best thing to do, rather than worrying about bookkeeping and accounting, is to leave it to the experts. Sign up for [geot country="Australia"]CFOPartners'[/geot][geot exclude_country="Australia"]CFOSpot's[/geot] services and rest easy knowing that we will do the worrying for you.