Automating your billing
As a route broker I get to see how different entrepreneurs run their businesses. I’m somewhat surprised that many entrepreneurs shy away from automating their backend functions. For instance, quite a few business owners still handwrite their invoices each month and drop off them off while servicing the pool. I always encourage business owners to automate as many functions as possible to increase efficiency. By using software like Quickbooks or Excel you are able to better track income and expenses which will result in less nightmares during tax time. Another benefit of ditching the invoice pad is the ability to analyze how you did last year, last month or last week so that you can make changes to your pricing to cover increased expenses. If you’re still charging $40 per hour for repairs then you might want to review your pricing policy. Automation will help you with that. There is no need to spend a lot of money to bring your billing system into the 21 century. If you have a teenager in the house they could show you how to use Excel or you could pay someone or barter for a couple hours of Quickbooks training. The money spent up front could ultimately make you thousands in the form of increased hourly rates or at least less of a headache at tax time.
About the Author: Mikhail Ruski Rivero is a seasoned professional whose career in the Business Process Outsourcing (BPO) industry spanned a decade from 2010 to 2020. Currently, Mikhail brings his wealth of experience to Sealey Business Brokers, where he serves as an executive assistant, contributing significantly to the company’s operations, strategic initiatives and occasionally contributes to writing articles. His years as a professional in the BPO industry have endowed him with a unique perspective and approach to business processes, setting a standard of excellence in his current role.
