No one works harder than the boss in a small business.
You’re the face of your company and the strategic planner, the crisis manager, the hiring director and the head of operations. When there’s a fire, you have to put it out. When there’s an issue, you’re the one on the phone with the client. You manage payroll, finances and benefits—while leading your company at the same time.
Being a one-person band isn’t sustainable, for you or your company. For one thing, it burdens you with an unpredictable schedule and reactive planning. And, just as important, your business will suffer in the long term as strategic planning is deferred in favor of administrative tasks.
Instead, let’s look at some small changes you can implement to help your business run smoothly:
1. Reduce paperwork.
For most companies, a bank statement on paper isn’t necessary. Request an electronic statement instead and save yourself the clutter. Many banks will reward you with a reduced account service fee.
2. Make payroll simple.
The easier a system is for your employees to use, the more likely they’ll be to participate. It can lower administrative costs, too. Manage payroll through AxiomGO for free. You can also complete account-to-account transfers quickly. It’s easy for employees to self-enroll, and they won’t have to deal with cashing fees or delays.
3. Automate payments.
Chances are, many of your bills recur periodically. Take a few extra minutes to set up automatic bill pay from your bank account. You’ll have to enter the payment information only once, and it will be saved for future use.
4. Go mobile.
There’s no need to schedule time to drive to the bank if you use Axiom Bank’s Business Mobile Banking. Instead, use your phone to check your account balances, transfer money, pay bills, deposit checks and more. Easy access to financial information helps you to make informed decisions about company operations.
5. Develop procedures.
If you keep correcting the same mistakes, or if your employees are knocking on your door all day with questions, strive to clarify company procedures. Create a file of FAQs and keep it in an accessible location. Your employees will thank you for it.
Effectively managing your time is the key to staying proactive as a leader. When you focus on the big picture, you’ll be better poised to capitalize on opportunities when they arise.
Axiom Bank N.A., a nationally chartered community bank headquartered in Central Florida, provides retail banking services, including checking, deposit, and money market accounts. It also offers commercial banking services, treasury management services and commercial loans for real estate and business purposes.