Be honest, how much of a priority is your business admin?
Not much huh?
We know there are lots of other things going on in your business that need your attention, and they probably feel a lot more urgent than staying on top of your tasks and paperwork. But admin is a vital part of running a successful business. So like it or not, it needs to be a higher priority than it currently is for you. Don’t believe us? Here’s 5 reasons why.
Poor Admin = Stress
This one has to come at the top, because it’s the thing we help most of our clients with. Life as a business owner is hard enough, without adding unnecessary stress to the mix! If you haven’t been keeping proper records of what’s happening in your business, this can cause you all sorts of problems in the short, medium and long term.
As a business owner, you need to be nurturing good mental health, and addressing everything that causes you poor mental health. And if you’re not keeping on top of sales, client data, refunds, perhaps even employee wages—you’re soon going to find yourself in a stressful mess. Knowing what’s going on, and that you have everything in place, can relieve a lot of that stress. Once you get into a good rhythm with regular admin, this will be a lot easier – we promise!
Poor Record Keeping = Legal Issues
We know you probably started your own business so that you could be more independent and have more freedom. But a business is still a legal entity, which means you have responsibilities and restrictions. You can’t just wing it and do what you want! Sorry to be the bearer of bad news on that one.
Making sure you have all of your legal paperwork in order for not only the main business but any products and services you offer is essential. Especially if you ever run into customers wanting refunds – as without the right documentation you could end up in legal trouble. From laws around data protection, handling of sensitive information, insurance, storing data and more, there’s a lot of record keeping you need to manage. Honestly, this is one area where a VA pays for themselves!
Poor Organisation = Debt
Poor organisation will almost always have a negative impact on your cash flow. If you have no idea of what’s coming into your business, then you’ll either get into debt with your suppliers, rack up debts with the tax man, or go bust before you reach that point. Good organisational skills are a key factor in running a profitable business. There’s not really any way around that!
In order to set aside the right amount of money to pay your suppliers and all the relevant taxes, you need to know what’s coming in and what’s going out of your business, and when. This means understanding your cash flow so that you can be proactive. Once you get yourself into debt it can be hard to get yourself out of it, so keeping on top of your outgoings is an absolute admin must.
Good Admin Increases Productivity
Time management is one of the biggest challenges for business owners, and admin is often one of those things that takes a lot of time, but doesn’t bring any money into the business directly. And because it’s not a ‘fun’ task (though we disagree), it often gets left until the last minute, so you spend much longer getting everything done. But making sure you have good admin processes in place can save you a lot of time, and a lot of money, at the same time.
For example, if a customer receives the wrong product, or asks for a refund, and you have no idea where to find their order—this is going to take you time to try and find their invoice details.
Or perhaps an employee has an issue with their wage slip, but you haven’t been keeping on top of their working hours – this is also going to take you loads of time to try and find out what has happened.
But if you had proper organisational systems and support in place? Those tasks would take you minutes, rather than hours, and you could pour all of that extra time into things that would earn you money. Good admin helps you stay on top of things, prioritise tasks properly keep you aligned with your business plan.
Great Admin Improves Customer Service
Customer service is an incredibly important part of business. If you provide good service and build good relationships with your customers, then you will see customers coming back to buy from your business time and time again. One of the best and simplest ways to improve your customer service is by getting on top of your admin. This means you can be sure that your customers are receiving the right service, that if any issues do arise the problems are sorted out promptly, and you are communicating with them regularly to strengthen those relationships.
And since we all know that it costs more to acquire new customers than it does to keep your existing ones, it’s important to make sure your customers are being treated well and kept happy!
At Your Admin Hub, Admin is quite literally our middle name. We love all things admin, and it’s our job to help business owners like you take control of the admin jungle and get things running smoothly again. Whether you just need a hand with one or two things, or you need someone to hack in with a machete and get you back on track, we’re here to help. Need a hand with your admin? Get in touch and let’s see how we can help.