Growing Your Business

7 Powerful Strategies to Keep Your Business Organized in 2018

by
Lidia Staron
on
2/28/2018
7 Powerful Strategies to Keep Your Business Organized in 2018

If you want to GROW YOUR BUSINESS and let it STAY ON TOP of the competition, you have to make sure everything is organized.

But getting organized involves more than decluttering your desk or neatly stacking those pile of documents.

Organization, in the realm of business, involves creating effective systems and workflows in all aspects of your business - from operations to financial management.

Here are 7 powerful ways you can get organized in 2018 and beyond.

1. Set Priorities.

At the core of every business are the company goals and vision. At the beginning of the year, you've probably made a high-level plan of how your 2018 should end. To stay focused on these goals, you have to set priorities. Based on what you've accomplished last year; you can definitely identify what your priorities are this year. Regardless of what it is - whether it's reducing cost by a certain percentage, increasing manufacturing, securing cash advance, employing more people, or targeting a new market - decide what your highest priorities are and learn to say 'no' to other things.

2. Get Your Books in Order

Getting books and records organized is always a challenge especially for entrepreneurs who don't have a solid background in accounting. But the thing is you don't always have to carry the burden. You have the option to pass it to someone who specializes in it. Consider outsourcing your accounting and booking tasks. It's going to save you time, energy and trouble!

3. Take a Look at Your Financial Forecast

Being organized means taking control over your business operations. But until you establish financial visibility and understand some critical business numbers, doing so will never be easy. Part of understanding the financial trend in your business is looking at three important documents: profit/loss statement, balance sheet, and cash flow. By taking a look at your financial forecast, you get to see and decide on whether you will need to take a cash advance, limit your spending, and make changes in some if not all of your business processes.

4. Go Paperless.

We've come to the era of digital media. From having to store bulky books and documents, you can easily keep track of (and reduce) your files by simply capturing digital scans of the most important documents and using Excel sheets (and other similar platforms) for easy data entry and analysis.

5. Manage your Expense Receipts.

These receipts let you stay up-to-date with taxes and ensure that your finances are in order. You can easily keep track of your expenses by:

  • • Recording every transaction (e.g. cash advance, vendor payments, customer payments) 
  • • Documenting file receipts 
  • • Reviewing unpaid bills to keep track of amount dues and dates 

6. Improve your space for increased productivity.

Your workspace has a huge impact on your daily operations. Try to adopt the minimalist's perspective - keep only the things you need and you're using. Position frequently used equipment and supplies within reach, establish work 'zones' or areas, clear your piles, organize your desktop, and keep everything clean and tidy as much as possible.

7. Use a cloud/project management system.

There are a variety of management systems, applications, and software that makes it easy for you to keep track of your progress, coordinate with customers and vendors, promote your brand, manage multiple projects, and control all your workflow in one place. Investing in one that suits your business needs is surely a time- and money-saver.

If you're looking to grow your business this 2018 and beyond, you should begin by keeping it organized. There are many ways to do so, and it starts with setting priorities. A few more important things to do is get your books in order, understand your financial forecast, manage your expense receipt, go paperless, improve your workspace, and incorporate a project management system. Sounds a lot but all these are doable. Take one step at a time and ultimately, you will find yourself being more in control of your business and achieving the goals you've set this year.

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Lidia Staron

Lidia Staron

Lidia Staron is a part of Content and Marketing team at OpenLoans.com. She contributes articles about the role of finance in the strategic-planning and decision-making process. You can find really professional insights in her writings.

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