May 2012

As women entrepreneurs we are masters at multi-tasking. We know how to schedule an appointment in our calendar while texting our teenager about dinner and sending an email to a client.

Below are a few tech tools to help increase your business productivity.

1. Social media. Facebook and Twitter are THE‘ blast’ communication portal for announcements, press releases and more. Remember the days of sending group emails? Now you just set up a Facebook group or a Google group and send one message that quickly reaches everyone in the group.

Many new business ventures fail as they struggle to generate enough cash flow to sustain operations. Even for established companies, positive cash flow is required not only to take care of day-to-day expenses, but also to invest in infrastructure and future growth.

1. Get rid of excess inventory
Excess inventory causes worry for every business. It adds to locked-in revenue and increases overhead. Companies are recommended to follow the accepted Japanese principle of ‘Just-in-Time’ to ensure that there is no inventory pile-up.

Although your financial year-end can be at any time of the year, many businesses have a Dec 31st year end. This means your accountant will have last year’s financial statements ready by now.

Accounting might be your least favourite part of running your business, but your year-end financials can be a powerful tool to analyze your performance over the past year, compare it to your year-over-year business performance and make informed management decisions moving forward.

Although it is tempting to just look at your financial statements on a standalone basis, it is always good to have something to compare them to. Below are three important comparisons you should be making.

Two of the most difficult challenges for SOHO businesses are Time Management and the separation of Home & Business Life.

It’s so easy to get ‘disconnected’ from a balanced lifestyle when one or the other is vying for our attention. Getting control of both business and personal areas of our lives requires organization and self-discipline.

Here are a few ‘tasks’ to get started.

Determine where the time is spent.
By using a weekly Task TimerTM sheet allocated in 15 minute increments, you will be able to determine how much time and where you spend the time on each task whether it’s personal or business related

You have sorted all your documents into current, reference, or historical compartments. It is now time to develop a tracking system suitable to your thought patterns. Set up correctly and logically, you will be able to locate a document in 60 seconds or less.

How it Works

Your own thought process creates the pattern. It works in conjunction with your style of work and business needs. Find the pattern and your system will flow. The magic happens when you hone in and grasp your own pattern that is logical to you. Almost immediately you will adapt to the system and understand why your documents are filed or stored away in a specific place. Your own thought processes create the pattern.