Time is a resource that is available to everyone, precious to a few, and is impossible to reclaim. Once it's been wasted, all you can do is move forward and focus on the time left available for this project or that. What's draining your time at the moment?
There are so many ways salespeople can contact us nowadays, telephone; email; social media; old fashioned letter... it can seem impossible to escape them! On the one hand, sales people are just doing their job, and as entrepreneurs we have to respect that and appreciate that they are working to improve their own financial and economic situations. It's important to utilise that respect and to try and decline salespeople with as much politeness as possible. That said, we're only human, and if you're inundated to the point that salespeople are encroaching on your business time, put the foot down and move on. You didn't ask for their time, and if you don't want it, don't allow them to use up yours.
If you only need to interact with your bank when depositing cash and managing your existing account, then you will probably have a reasonable relationship. However if you need to untangle mixed up accounts, sort out debts and try to secure capital then your banking relationship can start to become bogged down with bureaucracy and the mind-numbing task of talking to faceless representatives. We're biased, so we would obviously recommend you outsource this kind of thing to us! Bank liaison is something that we can offer as part of our Accountancy+ services. Your time is too precious to be wasted on bureaucracy.
It's important to give your employees a decent amount of your time, you want them to be engaged in your projects and to connect with their workload. They are one of your most vital resources and unless you're superwo/man you probably couldn't run your business without them! That said, it's important to make sure all of your communication with your employees is effective and productive. And it's also important to work out what effectiveness and productivity look like to you. If you need to take an hour out of your day to go through a crucial sales process with one of your sales managers, that's a great way to spend time. However if your interactions with your employees are not focused on either improving the culture of your workplace or working towards generating sales you might need to work on redirecting your own energy.
It may sound a little harsh, but as an entrepreneur your work and personal life are probably very closely tied. And this can be a great thing! In fact many businesses were started specifically because the opportunity to be your own boss offered the freedom to be flexible with your work and home life. Not everyone needs clear boundaries to be efficient with their time, some people really enjoy merging and interweaving their professional and personal lives. However if you aren't so hot on bringing work home or family to the office, make sure you're also not neglecting one for the other. Equal balance is the key here!
No business can function without administration, and that administration often takes the form of taxes, payroll, recruitment, HR, communications and general bean counting. Entrepreneurs usually start out by doing all this themselves, and you can find that it starts to take up more and more of your time. Time that could be spent actually doing your business, instead of just administrating it. You could hire F/T or P/T employees to manage all this for you, or you could consider outsourcing these functions. Outsourcing companies like AFP work together as a group of experienced and qualified professionals, working with each other and constantly striving to improve their knowledge and to become more proficient and efficient. You could chose to utilise this expertise and to outsource your financial administrative duties to a company who can get it done in less time, and with greater proficiency, freeing you up to devote your time to growing your business.