4 Overlooked Tips for Business Owners
Running a business or managing a team tends to come with a lot of responsibilities and tasks. So it’s not surprising that there are some things that get lost in the mix––put off until you have “more time” (when does that happen?!) or ignored until they become impossible to avoid.
There are some things that tend to be overlooked that really should be a bigger priority because of how they impact your overall operations or marketing. Today, our experienced team of EAs are weighing in with 4 overlooked tips for business owners based on what they’ve seen with their executive clients and on our own team at Elevate.
Keep reading to find out if you’re ignoring or avoiding any of these important tasks. If you are, we’ll give you some advice for making them a priority without adding even more to your to-do list.
Tips for business owners with direct reports
Whether your team is you and one other support person or you’re directly responsible for a dozen team members, one-on-one check-ins are a crucial part of being an effective manager.
However, a one-on-one is often the first thing to get moved off the calendar when other meetings, requests, and deadlines pop up.
Don’t make this mistake!
Regular, face-to-face check-ins with your team members give you a chance to:
Have back-and-forth, direct dialogue without dealing with long gaps in communication or timezone differences if your team is spread out.
Give and receive feedback. You can share what’s going well and where the team member needs to make changes or improvements while also opening the conversation to receive feedback as a leader.
Get more help! Regular conversations about what you’re working on allow your team members to spot new ways they can support your work that you may have not thought to ask for.
Bookkeeping isn’t just for tax season
Oh, bookkeeping. One of the most common business tasks that is ignored by CEOs and business owners… until it’s tax time.
While having updated books will make tax time less stressful, having a consistent bookkeeping system and software is about a LOT more than just taxes.
Consistent bookkeeping allows you to anticipate what you're going to spend.
Think about your personal life. You know that around the holidays, your kids' birthdays, and summer vacation, you're probably going to see an uptick in spending.
The same is true in your business, but a lot of us miss out on this information because we don't have the real-time numbers to recognize patterns and make sense of the ebbs and flows of business.
If you feel like your business spending is “unknowable” or know that things are always going up and down, but have no idea why… consistent bookkeeping will change that!
When you know when funds are going out and where they're going, you can accurately prep for the next month, quarter, and year.
Data-driven insights into what you typically spend and how you typically spend it will dramatically improve your planning and budgeting abilities.
An organized bookkeeping system will also save you money.
Seeing things, like when each platform or software you use charges, shows you where you can potentially switch to an annual payment plan that's cheaper and works better for your cash flow.
Marketing tips for business owners
If someone asked you about the foundation of your marketing strategy, you would probably talk about your brand messaging and your brand identity.
You use words and the logo, colors, fonts, and brand marks to communicate what you do, who it’s for, and why it matters.
But there’s another foundational element of your branding that says a LOT about your brand, team, culture, values, and priorities… but many CEOs and business owners don’t prioritize this like they do their copy and visual brand.
Photo Credit: Mandy Liz Photography
Your brand photos tell your story in a powerful way, and they are one of the things your potential clients and customers pay attention to.
Take 2 minutes and scan the images that are currently on your website and social media.
Do they tell the whole story you want people to know about your brand and team?
Instead of putting off brand photos for years, we recommend making it a priority to schedule a session at least once a year.
Think about how much your business evolves over the course of a year. New brand photos are the perfect way to highlight new team members, showcase a new service, or attract a specific type of buyer.
Up-to-date brand photos that reflect the true nature of your business and highlight what makes you special are the best way to elevate your presence.
Skipping this task is costing you time
Think about how much extra space you would have in your calendar if you never had to answer another question about “How do I do this?” again.
Imagine the freedom of handing off task after task to someone else on your team without having to sit down and explain everything. Just effortlessly delegating without any extra input from you!
It all starts with SOPs –– Standard Operating Procedures.
SOPs are clearly written or recorded steps and processes for completing repeatable tasks in your business.
Things that should have a documented SOP include:
Onboarding
Customer service
Lead generation
Data storage
File access
HR
Event planning
Scheduling social media
Uploading blogs
Calendar management
The list could go on for pages, but you get the idea!
And don’t sweat it if writing SOPs feels overwhelming or confusing. Our expert team can handle the entire process for you in just 2-6 weeks.
SOPs are the best way to make sure every repeatable action or process in your business can be successfully delegated to someone without further instructions.
