Entrepreneur Tip #5: Don't Reinvent the Wheel
Running a business can keep you running. In fact, your business can run you instead of you running it.
I know first-hand how managing people, processes, billing systems, lead generation, and much more can quickly turn into overwhelm.
How can you run your business rather than being run by your business? Use some tried and true processes rather than reinventing the wheel.
Technology has made it possible to run many back-office procedures online, with most being extremely intuitive.
Do you need to be able to accept payments from customers? Use one of the payment processing companies equipped to work with very small and very large companies. We partner with Elavon and Heartland and I know either of them will make a great partner for your business because they both have excellent service. Plus, their costs may pleasantly surprise you.
Managing all of the things you need to manage as a leader is time consuming. Putting into place an employee handbook or payroll system could put you over the edge as you deal with other pressing issues. Managing and tracking Payroll could be taking away from your ability to grow your business.
Heartland can also help with handbooks and payroll! They can even connect your payroll and worker’s compensation, so your insurance carrier receives real-time data, eliminating the need to do annual audits. That’s a huge time saver for you.
Do you need a way for your team to track your many projects and deadlines? Check out Asana or Trello. Both have free versions that may be robust enough to handle your business’ project-tracking.
If you need to prepare reports or presentations, or create a marketing plan or invoice, just google whatever you’re looking for and the chances are high you’ll find free templates and guidance somewhere on the web.
You don’t have to be an expert in every area of your business, but you do need to know where to turn to get expert advice on the things you lack experience with. Again, check in with friends, associates, and your professional network, and ask for what you need.
Most likely, what you’re seeking already exists and someone will be more than happy to share it with you
Inventing things takes lots of effort and time. Instead of building out your own stuff, borrow (legally, of course) what’s already available. Give it a twist to reflect your brand, use it, and move on to the next thing.
Just keep moving. Don’t wait for perfection. You can perfect things later. Good enough is usually good enough to keep your business humming until you can do better.
Your main objective as the owner of your business is to get revenue in the door. Don’t spend time on things that are not and will not lead to revenue coming in the door. Outsource it or borrow it so you can spend your valuable time turning prospects into loyal, paying customers!
Don’t reinvent the wheel. Run your business so it’s not running you.
And when you’re ready to protect your business, RaisinBread will be honored to help choose the right coverage at the right price. We’re entrepreneurs, too, so we understand using systems, processes, and handy tools that already exist to keep RaisinBread focused on helping our insureds protect their businesses.
Please give me a call (602.456.9122) or email anthonywashington@myraisinbread.com. I’d love to learn more about your business and what I can do to contribute to keeping it moving.
Anthony Washington has 30 years’ experience in the insurance industry and has now created RaisinBread, an insurance tech company that makes commercial insurance simple for business owners to understand and purchase.
