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Tips To Help You Thrive Pt. 2 - Feb. 15, 2024


 

Welcome to our Weekly Digest! 🚀


🙇🏻‍♀️📚 Oh! You're back for Part 2?


For today's read, we'll continue to explore the compiled list of tips for small business owners! After reading through various* articles, we've made a list of the most recommended tips.


FYI: This is Part 2! See Part 1 here.


Just starting your business? Or maybe you're wondering how you can improve your small business. Look no further!


Here are some more tips for you!


✅ Automate what you can.

Sometimes in a small business, you find yourself repeating the same task over and over again. These tasks can vary from data entry to email replying to scheduling meetings.


To save some time, it may be best to find ways to automate those smaller tasks. In addition to saving time, BigCommerce states that "automating repeatable tasks ... ensures [that] small things don’t fall through the cracks".


As a busy business owner, it's important to prioritize your time! By automating tasks, you're able to focus on your company and its goals.


Here are some automation tool options that Shopify suggested:

  • Trello: tracks projects for your business

  • Invoicely: simplifies tracking billed tasks and expenses 

  • Mixmax: schedules emails and sets up reminders to follow up



✅ Protect your intellectual property.

This one's a little complicated, so let's pull some professional insight on intellectual property.


Forbes states that "as a small business, the intellectual property (IP) you create is your competitive advantage. Protecting that property early can be the difference between the success and failure of your entire enterprise."


This is not to scare you! But it's important for a business to protect what is rightfully theirs.


Trinet defines intellectual property as "encompass[ing] brand names, logos, artwork, and package designs. This type of IP has potential for increasing competitive advantages and strengthening brand value."


For a small business, this means protecting things like designs, business ideas and trade secrets. If a competitor tries to copy your product, they can erode your market share and damage your reputation (BigCommerce).


Here's a short video from GoDaddy's team explaining IP and how you can protect yours!




✅ Build a strong team.

Moving on to another important tip, building a strong team.


Sometimes running your own business means you're the jack of all trades. You're every department and you handle just about every little thing. This is wonderful and it shows just how skilled you are as a business owner, but more hands never hurt!


"A one-person business might be cost-effective and easy to manage, but it’s also extremely limited. No matter how talented you are as an entrepreneur, there will likely be some gaps in your skill set that need to be filled in order for your company to thrive," claimed Shopify.


Let's look into ways we can find strong team members. BigCommerce shares,


"Alongside their talent and skill set, assess whether they’re passionate about their field. Did they research you before the interview? Do they exude passion when they talk about their prior work experience? 


Vet quality candidates by creating a form with customized questions for each job application rather than accepting generic cover letters.


This also creates a barrier to entry so you aren’t flooded with resumes. Ask specific questions that pertain to the competencies and soft skills you value."


Having a strong team will not only make your life easier, but we hope it'll make your work life much more fun. Surrounding yourself and your company with people who are passionate and driven can most definitely help your business thrive.



✅ Take care of your health.

Our final tip is to take care of your health. This wasn't in all the articles, but we decided to put this one in.


No matter how important your business is, it cannot thrive with you. A healthy you! Prioritize your health, both mentally and physically.


Shopify agrees.


"No matter how hectic things get, remember to:

  • Get plenty of sleep—at least seven to nine hours per night

  • Exercise regularly and get away from the office at times

  • Eat nutritious meals to fuel your body and mind

  • Find a work-life balance and remember to spend your time doing the things you love"


🧡 Thanks for reading this two-part series. See you next time!


*articles we used for this blog: Forbes, Big Commerce, Shopify, Investopedia, and Trinet.

 

🤙🏻 Get in touch!

Our Bean Counters are experienced bookkeepers who care about your business! Email us at hello@beanlogix.com to learn more.


All information can be found in the linked* articles. No copyright infringement is intended. BeanLogix does not own nor claim to own the rights to the content shared.

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