Are you looking to grow your business? Are you stressed by handling all of the day to day aspects of running your business? More specifically, is the company’s productivity less than it could be because you’re just not sure where to focus your energy?
When you started, you were looking to create a profitable business that would allow you to live the lifestyle of your dreams. Now, your life seems to revolve around your business. Although it is typically common for small business owners to devote the majority of their time to their business in its first couple of years, at some point you should be able to delegate your tasks and spend more time doing the things that you want to do.
Scaling Your Business Is Necessary for Success
As your business grows, you will need extra help to get everything done. The key to running a successful business is the ability to delegate some of your tasks to others. These people should be trustworthy, responsible, and experts in their field. Of course, most small businesses also worry about the expense of hiring or scaling their business.
Forbes and Inc. provide some great insight on the benefits your company can experience from scaling. The Clients ARM team has a few tips of our own to help you make your company successful by utilizing scaling.
Get Help to Increase Your Personal Productivity
Hire an assistant. This should be someone who can handle some of the day to day aspects of running your business. For some businesses, that may be answering phone calls and responding to e-mails. For others, that may be someone who does the filing, prepares documents and handbooks, or someone who help with marketing. The roles of any assistant will vary depending on the need. However, you must find someone who meets your specific needs while supporting your overall business goals.
Consider Outsourcing to Help with Production and Profitability
Outsourcing gets a bad reputation. Outsourcing is, in simple terms, delegating. So, it’s like having an assistant. Small businesses that rely on outsourcing essentially get expert help for a fraction of the price. Outsourcing is a great way of not only being able to focus your time on clients, but it also helps you scale your business.
In fact, your business is put into a position to scale up because of outsourcing. It’s all based on your ability to work on the things in your business that grow your profit. You spend less time focusing on administrative details. Since you have more time to devote toward profitable endeavors, your business begins to grow!
Create a Sound Business Model to Boost Profitability
By planning out the goals for your company’s future, it will help to ensure that these goals are met and you are successful in your industry. It is always better to plan ahead, anticipating your company’s future needs, than to be caught off guard at the last minute or to have no idea how to run your business. Additionally, if you plan to get investors or funding of any sort, you need to have a business plan that explains how your business runs and how you will allocate the capital involved.
Advertising and Marketing for Profitability
Know your market and use the correct tools to reach that market. Your advertising will depend on your specific industry. If you hire someone, it is important that they know whether there are restrictions for your industry.
Your marketing will depend on the services that you offer and your target market. For some businesses, mass mailings are the way to go. For others, advertising on social media sites such as Facebook or Instagram might be the better option. The key is knowing who you are trying to reach.
Up-to-date Contact Information
This may sound like a no-brainer, but it is easy to forget to update your company’s phone number or e-mail address on something such as website. This small mistake will cost you in the long run. If the client can’t reach you, they will likely look elsewhere for services.
Keep Client Accounts Up-to-date
Do not let clients fall behind on their payments. At Clients ARM, we have more than 30 years in accounts receivable management. The number one key to a successful business is ensuring that you receive your payment, in full, for all services rendered. To learn how you can begin to train your clients to pay on time, check out this post.
Provide Excellent Customer Service
The old saying “The customer is always right” may not be 100% accurate, but the fact is that a happy customer is a return customer…and will also refer more people to your company. Work to resolve any concerns or issues your customer may have in a timely and polite matter.
Clients ARM wants to help you succeed in business. We are a full service accounts receivable management firm and offer a variety of services tailored to meet all of your company’s needs. We are here to provide you with these services at a fraction of the cost. We have more than 30 years of experience in accounts receivable management and we have a 90% success rate in collecting on past due and delinquent accounts. We will not only manage the day to day account receivable duties of your business, we will also do everything in our power to recoup any past due balances you are owed. We will do all that we can to ensure your business is a success.
Call us today for your free, no obligation quote at 206-596-3000! Clients ARM prides itself in providing individualized service to all of its clients.