Tax & admin · 6 April 2018

The business hacks that are helping these small businesses

The business hacks that can help you grow
The business hacks that can help you grow

A lot of entrepreneurs find themselves constantly juggling different business processes, trying to keep several balls in the air at any one time. As time goes on and the business looks to scale, this becomes unsustainable – so what happens next?

We caught up with some business owners to hear what business hacks they use to make sure they are as productive as they can be:

Look after yourself and your team

This one might sound obvious, but in the hectic day-to-day running of a business, it’s all too easy to let health and wellbeing take a back seat.

“I’m a firm believer that happy employees are more productive. If your staff feel empowered in their job and are encouraged to share their ideas with senior management, they’re more likely to go that extra mile for the business,” explained Peter Tuvey, co-founder and CEO of the UK’s first revenue-based finance provider Fleximize.

“Of course, company benefits beyond the usual monetary incentives can also help, whether that’s flexible working or a generous holiday allowance.”

Andrew Mawson, founder of Advanced Workplace Associates, also stressed health as a priority to stay productive: “Staying healthy is pretty important when it comes to being able to think straight.

“We’ve conducted other research which reveals how important it is to keep hydrated, well-nourished in order to stay cognitively fit; not to mention how lack of sleep and exercise can negatively impact the brain. To fire on all cylinders in the workplace, you’ve really got to look after yourself. Also, you’ve got to recognise what it is that helps you be your best every day; and use that to your advantage.”

Understanding all areas of your business

Another tip that some of the businesses offered was to essentially muck in with the business – get to know what staff members do, how different areas of the business work. Sometimes, it’s a good thing to explore outside of your comfort zone.

Angela Love, director, Active, said: “I’ve learnt a nice and simple one over the years – delegate the jobs you are good at, and just learn to do the things you are not so comfortable with! As a business owner it’s important, at times, to be a little ‘uncomfortable’. It encourages you to think outside the box, and experience what the rest of your workforce might experience on a daily basis, giving you a better overall view of how things work.”

Tim Oldman, CEO, Leesman advice was along similar lines: “Understand what employees do. It sounds obvious, but the most productive employees are those who have the tools that support their role in the organisation.

“We now have clear evidence of the factors that most influence an employee’s ability to report that their workplace enables them to be productive. Offering a variety of work settings is key, as is reducing the destructive impact of noise. And don’t overload the collaborative space at the expense of the individual focused space. Our most recent research shows that personal perception of productivity is most strongly associated with the ability of a space to support individual not collaborative work.”

Get a grip on spending

This one might perhaps sound obvious, but it’s crucial – get a handle on spending. All business owners should understand what money is coming in, and what money is going out. If numbers aren’t your thing, investing in software that does it for you might be the way to go.

Harry Molyneux, CEO, BuildUpp explained: “Always check your balance sheet. Every week, if not every couple of days. Remove all unnecessary overheads, work from home as much as possible, just try to keep as tight a control as you can.

“Really think about how you spend your money. You could pay a lot for advertising early on, for example, but it might not actually turn out to be 100 per cent successful or clear. It’s about spending money on the right things.”

For more information on the business hacks that could help your business, click here.


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ABOUT THE EXPERT

Letitia Booty is a special projects journalist for Business Advice. She has a BA in English Literature from the University of East Anglia, and since graduating she has written for a variety of trade titles. Most recently, she was a reporter at SME magazine.

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