As a business owner you will have noticed that there are lots of articles about how to make your business grow, but few for the many business owners who want to stay the same size!
This one is for you!
In fact if you don’t particularly want to grow your business you are in the majority according to a recent survey from the Enterprise Research Centre, which found that growth is a low priority. Three-quarters of the respondents said their objective was to keep their business similar to its current position.
I was not surprised by this. For many owner-managed businesses growth simply means additional burdens and sacrifices on over-stretched owners.
If you have ever read the classic book for small business owners The E-Myth, you will know that the working life of many owners is one long stressful slog of long hours, low pay and missing out on family events and outside interests.
Yet, with all the demands small business owners face, the ERC report also found that a quarter of microbusinesses had not adopted any cloud technology at all, preferring to stick with desktop software and paper-based systems.
However, being a cloud technophobe is bad for business and means owners work longer hours for less income. For instance, the ERC says using more cloud-based accounting systems brings an increase of 13.5% in sales per employee after three or more years, while using an online CRM adds 18.4% to sales per employee over three years.
If your objective is to have your business running smoothly and profitably to protect your lifestyle, using technology is key as it allows you to achieve more with less. Indeed, there are now so many apps and online services that are either free or low cost, it has never been easier or more affordable to get your business systems in the cloud!
For instance, Ozlop provides an outsourced bookkeeping service even technophobes won’t mind. Simply photograph your invoices and receipts and email them to us for processing, and we sort out all your bookkeeping. Or you can use the ReceiptBank app to upload them directly to us on your phone.
Even better, you can have your suppliers send invoices by email direct to Ozlop so you have even less to worry about! We will also help you meet your obligations for Making tax Digital.
Having someone else handling your bookkeeping means one less time-consuming chore and means you can benefit from more time to do what is important to you!
David Vine – small business specialist and Managing Director at Ozlop.