People make mistakes. It’s the one grounding principle of humanity that most of us learn in our earlier years. Thankfully, it’s no great human failing to make mistakes provided we learn from them and that they don’t harm other people. However, in certain settings (such as when running a business), a professional mistake can cause an enterprise to slowly disintegrate or fall into irrelevance. For instance, there are countless examples of managers lying in order to keep their team calm or to smooth over financial issues, when a clear and direct approach towards resolving the issue could have prevented a problem from getting out of hand.
Yet you don’t have to be incompetent to act in an incompetent manner, at least accidentally. For this reason, it’s important to make sure that your firm, to the degree that you can do so, is made foolproof against your silliest mistakes, and the mistakes of your staff.
In this post, we’ll discuss this and more. While this topic may seem hard to approach, it’s good to humble ourselves once in a while, and get back to basics:
Use worthwhile software
Using worthwhile business software is a key element of keeping your workflow tracked and your business systems functional, but sometimes, we need to make sure this software is easy to use, can encompass everything, and will become the go-to hub for our day-to-day functioning. An all-in-one financial kit can make a massive difference here, allowing you to track all of your pertinent financial information, including categorizing that as necessary, so your records are squeaky-clean and perfectly in line with the documents you submit to your accountant. This way, human error need not throw you off the trail of good management.
Use online resources
The worldwide web is a wonderful collection of information and resources that can help almost anyone and any business. What is more, there are a number of resources available to meet most business needs. Some will be free and some will come at a cost, however, this cost is likely to be lower than employing professional services to do these tasks for you. Here are some further online resources that may be able to assist you.
- Online templates. There is a wide range of online services that can offer business users pre-written templates to assist with their daily operations. It could be template rental agreements or a VC term sheet template. These templates are designed to give business owners peace of mind knowing that all of the important considerations are covered in a professionally worded document without having to go through the expense and time of hiring legal or professional representation.
- Design tools. Tools such as Canva can offer business users the opportunity to design their own logos, webpages, and graphics free of charge, or for a small subscription cost. These tools will allow business users to maintain control of branding and marketing efforts all the while saving on the cost of employing professional graphic designers to do the work on their behalf.
- Blogs. Blogging is a huge space and there can be a lot to learn from online blogs. If you need to stay appraised of industry news and developments or popular opinions following the right blogs can provide you with the answers you need.
Invest in oversight
Oversight may seem unnecessary when you’re a business owner, because you’re the person who, to some degree, should give that. That said, there are many services you can use to keep on top of this, from compliance-focused auditors that can come in and make sure that your business is proceeding within legislation to an exact and stringent standard (perhaps an even stricter standard than government checks will be, making sure you certainly pass your inspection), to health and safety inspectors that can come and help you resolve an issue – these efforts can be worth their weight in gold.
Use professional, dedicated services
Obviously, it’s quite clear that sometimes, we need professional and totally focused services to help us curate a perfect result when nothing less than flawless execution is required. For instance, investing in a payroll firm that is able to calculate deductions to the penny while also paying out immediately can be a key and reliable feature of good financial planning in your firm. With that measure applied, you’ll be sure to focus on the future with care, knowing that your system is correctly calibrated.
With this advice, we hope you can foolproof your business operations, even against yourself.
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)