We might already be well into 2016, but it still feels like the year has barely begun. Knowing what to focus on out of a laundry list of goals is tough. Housekeeping your business is a brilliant start to laying the foundation upon which to achieve all your other objectives. Let’s take a look at how you can do this and the types of mobile apps that’ll make the path easier.
Devote resources and time into the products that produce the most revenue
First, take a look at all your products and services to control which are bringing in the most revenue. These products are where you need to invest the most time, energy and money. Consider stopping any products that don’t sell well. You’ll have more time, less admin and lower inventory carrying costs. While you’re doing this, you can also review pricing and budgets for the rest of the year.
Fewer providers means time and money saved
The fewer suppliers you have, the better it is for business. Sustaining relationships with multiple suppliers is time and energy consuming. If you can streamline your suppliers, you’ll incur less admin, you’ll strengthen your relationships with them, and may even enjoy some special offers and discounts from ordering more products from one supplier.
Get paid on time, all the time
As hard as it might be to clamp down on suppliers or consumers who owe you inventory or money, you must be firm. Not getting paid or not having stock delivered when you need it will have major long term effects on your ability to do business and on your balance sheet. One strategy for disabling late payments from customers is to invest in smartphone technology that lets you receive payments as soon as a sale is made – as opposed to waiting for promised EFTs to clear. We’re talking about a mobile point-of-sale device made up of your smartphone or tablet, a mobile app and a card reader.
Here are a few that can help reorganise and refresh your business this year:
Trying to complete less exciting, but vital nonetheless, tasks when there’s the entire internet only a click away that’s full of news sites, online stores and social media sites can be challenging. Cold Turkey lets you block a limitless number of websites during certain times of the day (which you have control over), so you can get on with growing your business.
Not only does Billguard keep track of your expenses across all your bank accounts and credit cards, it analyses your spending over time. You can match spending and income between months and notice any patterns, helping you budget better. It also keeps track of your credit score and alerts you if your card is used fraudulently.
Imagine if you had a coach on your smartphone? Well, with Coach.me you don’t have to imagine it. The apps put you in touch with a huge range of coaches ready to assist you with anything from improving relationships and losing weight to becoming a better leader and growing your business. It’s not cheap, but what price can you put on achieving your most wished for goals?
Almost every website you log on to nowadays requires a sign-in and password. Creating a secure and unique password for each one is essential, particularly for business accounts. Trying to remember them all is yet another challenge that a mobile app has found a solution to. 1Password stores all your log-in details for all your accounts in one place, and lets you access them using your secure 1Password password.
This mobile app allows you to transact using nothing more than your smartphone, an internet connection and a card reader connected to your device by Bluetooth. As long as your device is charged and you’ve got signal, you can accept card payments anytime and anywhere.