Ten Top Tips on How to Run a Successful Small Business.

12th December 2016

 

  1. Don’t take on more than you can deal with

We’ve all over- promised when in reality we should have said no. And whist it’s good to be available, don’t oversell yourself to the point where you win contracts but can’t deliver on them. If you call yourself an expert, then be aware that people will expect expertise. It’s not only a question of quality, but quantity and complexity too, so always assess the complexity of the work thoroughly before approximating how long you’ll take to complete it.

  1. Don’t go it alone

Just because you’re working alone, doesn’t mean you have to be lonely:

  • Network, both online and in person using social media, which is great for sourcing other freelancers or those in the same occupation.
  • Join clubs or classes, either online or offline.
  • Meet up with others on your breaks who also don’t work 9-5.
  • Change your scenery and find a workspace, café or library to work in.
  • Share an office or rent a desk in a co-working space.
  1. Have a designated workspace

A designated workspace will allow you to easily switch to work mode and make it easier to resist unwelcomed distractions. It’ll also allow you to keep everything you need for your work in one place.

  1. Have set working hours

Being your own boss means you can choose your own hours and be as flexible as you like, though having set working hours will help you stick to an agenda and become more productive, and also help you feel like you’re able to stop working at a certain point.

  1. Set regular, repeated tasks.

Setting yourself regular tasks will help give more structure to your day. A daily review of priorities and tasks each morning is a good place to start, or maybe end your day reviewing what you got done that day and then create your schedule for the next  day. Most days will vary however finding a few typical tasks will help organize your daily workflow.

  1. Don’t beat yourself if you don’t stick to your set working hours

Choosing to either work less than full time or to make up the hours another time is fine, as long as you rearrange your workload. Providing you do work and ensure that you meet your deadlines, you should never feel guilty about it as remember that’s one of the perks of working for yourself!

  1. Remind yourself of your roles

As both boss and employee, you need to juggle both roles. That means that as a boss, you need to keep yourself on track, understand the requirements of your job, identify training needs and ensure you’re putting in the hours but also taking breaks. Whilst as an employee, you need to get your head down, work to deadlines, not mix business with pleasure and don’t relax just because you’re working from home.

  1. Remind others that this is your job

Some people find it difficult to understand that freelancers work from home full time, and usually have a work routine and normal working hours.

So it’s important to avoid distractions and make it clear to family and friends that they should only call in the day time if it’s urgent – or that they can drop you an email or text.

  1. Find a dedicated accountant

Having a dedicated accountant when running a small business can benefit you in so many ways. They can minimise your tax bill, as they’ll go through your business and check to see that you’re making full use of any tax allowances and reliefs you can claim. They can register you for VAT, reliving you of extra admin duties, and they will also help manage your finances, as they’ll steer you in the right direction for additional finance without putting your business at risk, looking at options such as taking out a loan, increasing an overdraft or issuing share capital.

We provide expert dedicated accountants to our clients get in touch today if you need further assistance!

  1. Referrals

With small businesses it can be tricky to build a wide net in a short space of time, so connecting with a select number of customers, enlisting their trust and loyalty, and having that positive impression spill over among their circle of friends and colleagues will cause beneficial waves surrounding your business.

Never be afraid to ask your customers for referrals as many customers won’t refer if left to their own devices, but will happily oblige if they’re nudged or even offered an incentive.

Remember, if you aren’t asking for them, you are missing out on opportunities!