Being the business owner can be a lonely business but in these changing times do you have to be left paddling alone?
Last week we attended the Business Network South Manchester a great networking group which brings some of the best speakers to the group to educate and inform the members.
This month we listened to Chris Brindley MBE who was talking about how businesses should be ready to adjust as times change. He used the examples of Kodak, Nokia and Blockbusters. All businesses who at their peak were streets ahead of all the competition but did not react quickly enough to change their business model dues to changes in technology and customer requirements.
Furthermore, is business using all the facilities available to them and using what we would say are the tried and trusted methods of doing it themselves and using technology to the best of their ability?
It is a really great point that business owners will do what they have always done because they feel it is easier. For example, there are two great bookkeeping businesses in the Business Network South Manchester and they will for an hourly or monthly fee keep your books up to date. Yes, this is an additional cost but with the use of technology your accounts can be fully up to date which gives the information you need to make strategic decisions, the cost of your time is probably far more expensive than outsourcing and is definitely a far more efficient use of everyone’s time.
Our credit management service also provides the same form of service. Instead of employing someone which as we all know is far more expensive than just a wage due to national insurance contributions, pensions, holidays etc. We act as your credit control team and with the benefit of technology we have access to your invoices/outstanding debts.
So how does this benefit your business? Well, it saves costs as we mentioned earlier, its efficient as it is our job and does not take members of staff or yourself out of the daily routine to chase outstanding invoices. It also ensures invoices are paid promptly and keeps an open line of communications with your clients.
Collecting debts is a specialism that not everyone wants to be part of, it is like cold calling it needs a special person with broad shoulders. You need just enough tact not to upset when explaining that an outstanding debt needs paying and not to take it personally if you receive abuse for asking for the monies you or the business you are representing are owed.
As we are seeing more and more small businesses setting up, there have been over 100,000 more SME’s set up over the last two years. The majority of these businesses are freelancers offering marketing, social media services, PR and other professions which can offer outsourcing services to reduce your fixed costs as they can be used on an ad hoc basis as they can be called on as required.
There has never been a better time for the small business owner to know that you are not alone and there is no need be paddling without a little help.