Last week I started a series to address simplifying the back office of your business. If you own a business, you are going to have back office functions that need to be taken care of. Bookkeeping, taxes, regulations, information management, social media management, human resources…and the list goes on.
From my experience, managing the back office is one area that business owners can really struggle with. Back office work can be tedious and is not always the fun part of running a business, meaning that often back office tasks are regulated to the back burner.
An Excerpt from the Back Office Series Post #1“Part of the issue is that we often view back office work as only dealing with annoying administrative tasks, but the truth is, the back office is what runs your business. The back office is the engine (the guts) to your car. It is what makes the car run. The better you take care of the engine, the better performing your car will be. Time after time I have worked with clients who, for one reason or another, failed to tend to the engine of their business from the beginning. What resulted, was wasted time and energy looking for needed information, that was not in the right place or useful at the right time. The resulting mess required hours, weeks and sometimes months of clean up.“
One of the key areas that a small business owner must, must, must (Did I mention that they MUST) handle well, is their financial bookkeeping. This is a key area that I have seen business owners neglect and later find their business books in a mess. They may have held onto every receipt, even kept it ordered in an envelope, a folder or a box and think “I’ll get to that later.” Unfortunately, later rarely comes. Read more