How to Simplify and Streamline Your Small Business in 2022 Experts share what tools and processes to use to alleviate small-to-medium business growing pains
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In order to be successful as an entrepreneur, constantly evaluating and reevaluating your business processes to ensure that you're operating as efficiently as possible is paramount. When you run a small business, that reevaluation needs to happen on a consistent basis as you grow.
If you want to one day become the CEO of your own globally-renowned Fortune 500 company, you need to be able to look at your current situation and make practical changes to foster that growth.
Here are some insights from experts, all who are CEOs and founders of their own companies, about how to simplify and streamline to alleviate the growing pains of a successful small business in 2022.
Simplify, Document and Automate Routine Processes and Drive Extreme Ownership Amongst Your Team
"Every business has an outcome it is delivering and a standardized way of delivering. Even if the variables change, the framework in which those variables are decided and delivered remains the same," said Dan Ashburn, co-founder of Titan Network. "But usually, this standardized process for delivery sits in the head of the owner or key team members and is rarely documented, maintained, or automated."
Co-founder Athena Severi added, "Take a few days with your team to write down every stage of your business delivery, from marketing to sales to fulfillment to finance. Then, write down every task that needs completion - and by whom - to deliver a quality outcome. Use a task management system like Asana or a simple spreadsheet to create the engine that will run your business. Automate as many of the steps as possible. Then it's just a case of putting as many clients in at the top of the engine as you can."
Become Inspired By Your Clients To Streamline Your Business Processes
"Use your business specialty for inspiration," said Eugene Tolk, CEO of Verified Movers. "If you are a moving company or an online review platform, observe your end-users processes to streamline your business. Let me explain: Put yourself in the shoes of your clients."
"Say a client is moving cross country," he went on. "First, they will check online reviews of long-distance movers. Next, they will call a moving company that suits their preferences to plan an appointment; finally, they might organize their belongings or calendar to make sure their travel is seamless."
"The key words there were not "moving' or "review,' they were 'research,' "plan,' and "organize.' Whatever your business, become inspired by what your customers do on their end to create plans for your small business streamlining goals in 2022."
Organize Your Finances For Maximum Tax And Business Cash Flow Structure In 2022
"There are a multitude of ways to organize your small business' finances, and they should all play together to create a perfectly synchronized system," said Shauna A. Wekherlien, CPA, MTax, CTC, CTS of Tax Goddess.
"The basis of founding this structure starts with a well-organized financial team. Depending on the size of your business, just one financial executive can make a world of difference. They specialize in finding financial loopholes for tax savings, cash flow, financing, and other financial strategies that can save your business money. Instead of trudging through Google, fighting the overwhelm of trying to wrap your head around concepts that you didn't study in college, find an expert (or two!) in the financial arena and welcome them to your core team."
"The rest is easy: build structural financial systems together on which the rest of your business can grow, thrive, expand, and profit. Creating this backbone will make everything else a breeze in 2022."
Use Growth Goals To Develop Streamlining Processes
"For me, the name of the game is organized delegation. If you dream of your small business becoming a Fortune 500 company, you're not going to get there by micromanaging your employees," said Victoria Kennedy, CEO of Victorious PR. "To foster sustainable growth that lasts years, you need to train and trust your team.
"Develop processes that are foolproof and ask for feedback regularly from your employees. Revamp old systems that may need tweaking, and make sure you review them periodically. Small businesses take so much work on the front end because we start from scratch. There is no template; you have to push on through trial and error."
"By learning from your mistakes and keeping track of your wins, you can put these processes to use, creating a seamless system that you can trust your team to utilize without your constant guidance. Practice a hands-off but thought-out approach so that you can streamline your business and grow exponentially in 2022."