So I want to share with you the importance of keeping your business organized. I know it can be hard and overwhelming. The truth is, you may not always be caught up on filing or caught up on your emails or due dates. However, we at least need a system so that we try to keep things in order. So I have a few questions for you. How do you want to keep your files or receipts? Do you want to scan them and keep the electronically? Are you going to take a picture and upload the file from you phone and keep it in the cloud. Or will you keep paper copies organized by year and month in a file cabinet? How often a month will you keep track of you analytics or bookkeeping? Is it daily or will it be weekly? What time and what day? The truth is, this is just as important as the money generating activities we do to manage our business. It is just a different form of managing. I also want you to know, even if you hire someone to do most of this for you, you still have a level of responsibility because at the end of the day it is you who is spending the money in the business.
So I have 3 reasons you should get your business organized.
It is hard to remember things that happen months ago
When you have to recall what you did a month a go or a year ago is tough. For one, no ones memory is that good. Plus, with all the things you have going on, all the transactions that go in or out of your business you are not going to remember the things that happens a month a go let alone a year ago. This is why we keep our receipts, we make notes, we file documents. So that we can easily access them when needed.
You need to be prepared
There used to be a saying stay ready so you don’t have to get ready. ( Do people still say that). Anyway, Basically I am just saying stay prepared. It is hard to stay prepared when you are not doing the day to day activities needed to stay prepared. We are all busy. We are busy doing the work to build our business. The last thing you need is to be overwhelmed with administration work. Either hire someone to do the work for you or create a system you can take care of it yourself.
Harder to work with you
When you are working with other people and they ask you for certain files, numbers, stats or financial statements you want to be able to send the information over in a timely fashion. Don’t miss out on opportunities because you don’t have your business organized or prepared. It is much harder to work with you when you are not organized. For example, it is difficult for an accountant to work with you when you don’t have the necessary information they need. You can’t file taxes if you don’t have financial statements. You can’t produce financial statements without bookkeeping.
So it is important to stay organized. i hope this inspired you to get a process, a system or simply the simply to do better.
If you are unsure of the things you need to do or have in place as a business owner. My book Financial Finesse is a great tool and guide to get you started and keep you up to date. Click here to purchase your copy.