Business Advisory & Accounting
By Stephanie Palombi/01 Sep 2020/Four-minute read

If you want your business to grow, it’s time to let go of some of those time-consuming, low-value tasks and learn how to automate, outsource and delegate.

Every small business owner, whether they’re well established or just starting out, should always be striving to get ahead of the competition. For a business to do this successfully, efficiency is key. If a business doesn’t meet the current trends or changes, it won’t survive in the market.

The challenge for small business owners

Sole traders and small business owners often have a plethora of day-to-day tasks that bigger business owners with employees just don’t need to think about, like administration, responding to customer enquiries, driving new business, diary management and handling orders.

The ability to manage the balance of working in your business and working on your business all depends on your level of clarity around the purpose of your business. If you’re spending the majority of your working days getting caught up in those lower value tasks, you’re more likely to forget about your why. Why does your business exist? What is its purpose? Many small business owners don’t understand how much time they actually spend on those low-value tasks.

So here’s a challenge: at the end of your working day, sit down and make a list of everything you did that day and how long you spent on each task. As a rule of thumb, business owners should be spending 80% of their working day on dollar productive activities that grow the business.

How much time are you spending on dollar productive activities?

Download our Task Review template and get a snapshot of how much of your day you're spending on dollar-productive tasks.

So what’s the best way to focus on those dollar productive activities?

The key is to not only have a strategic business plan but to stick to it. Then, audit all those non-dollar productive activities – such as administration, responding to emails etc – and begin delegating, automating and outsourcing.

Use automation to streamline your business

Business Process Automation is the use of technology to automate repeatable, day-to-day tasks, like sending out invoices, replying to customer queries and managing data lists. Implementing this technology will most likely involve an initial cost, but you’ll save both time and money in the long run.

Outsource for ultimate business efficiency

Every business has limited resources and every manager has limited time and attention. Outsourcing in business helps owners shift focus from lower value work to growing and driving business. Common outsourcing tasks include administration, lead generation and customer service, accounting and financial duties, marketing, IT operations and human resources.

Regular business health checks can help steer you in the right direction

Undertaking regular business health checks with a trusted business coach can help you look at your business with fresh eyes. Our small business coaches will help you clarify your goals, purpose, road map and business strategy, and then use these insights to provide you with a business improvement program. We work in the background, which means our services give business owners the freedom to develop and grow their company on their own accord.

It's time to start working on your business

Book your complimentary business review strategy session with our Adelaide business advisors today!

At Johnston Grocke, we’ve been providing Australians with personalised financial, business, property and accounting strategies for over 20 years.

We know that life (and especially money) can get complicated, so you can count on us to bring consistency, certainty and confidence to your finances, so you have more time to enjoy the good stuff in life.

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