Keep Control of Your Business
Whichever type you are you must maintain control over your business.
People are different – some thrive on a high activity level while others
prefer one thing at a time. Whichever type you are it is important to keep
control of your undertakings.
Using your skills in financial management is important to keep in control.
Am I a potential control Loser?
Everybody who has his or her own company will now and then lose control.
Suddenly management of the business is getting out of control and you get the
feeling of losing ground.
- Do you often get ideas you want to try out here and now?
- Is your office/work space a shambles?
- Do you often have a hard time finding your things? Also on your PC?
- Do you rarely plan ahead?
- Is it continuously hard for you to meet deadlines?
- Do you often work overtime?
- Do your tasks tend to outgrow you?
- Does payment of rent always come as a surprise to you?
Affirmative? Then you probably suffer from control management problems.
Then you probably also have problems keeping accounts. When accounting is bad
financial management becomes very difficult.
Tools for control
Try to start planning your work. Instead of letting circumstances run your
business you should be the one in charge.
You can not plan everything but you should at least set the course.
Consider the following issues:
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business issue: Mark Up and Contribution Ratio
- Delegate work – you probably have competent staff
- Get yourself a calendar – and use it
- Make sure to update your appointments – make memos as you make
- Avoid, whenever possible, tight deadlines
- Schedule the contents of your meetings – e.g. by means of agendas
- Prioritise crucial issues and make important decisions when you are most
energetic (in the morning)
- Finish one task at a time whenever possible
- Make a schedule for tomorrow – at the end of the business day at the
- List current tasks – if possible, outsource some of them
- Hire a freelance bookkeeper or let your accountant take over the
- Maintain order on your desk and in your workspace
- Use a box system to prioritise your documents/activities
- Ensure easy and logic filing (folder systems) – also on your PC
- Remember frequent back ups
- Work in peace
Month end is approaching - Keep calm and carry on accounting.
- Unknown accountant