Running your own business is hugely rewarding, but it’s safe to say it’s not without it’s challenges. To help you stay on track and grow, we’ve shared 11 practical tips every business owner/freelancer/entrepreneur should take on board.
1. Know Your Purpose
Why did you start your business? Having a clear purpose keeps you grounded (especially when things get tough) and helps you make better decisions. It also helps you market you and your business more effectively.
2. Automate Mundane Tasks
This is one of the easiest things you can do to improve your business operations. In the digital age we currently live in, it only makes sense to start utilising automation tools to save hours every week by automating all those boring admin tasks. Tools like Payment Bear (shameless plug) help you send invoices, set up reminders, and process payments automatically. Less admin, more time for your business.
3. Build a Memorable Brand
Your brand is what sets you apart from the competition. Everything from your website to your invoices should reflect who you are. With Payment Bear, you can customise your invoices with your logo and colours for a professional, consistent look.
4. Manage Your Finances Properly
Cash flow is quite literally the lifeblood of any business. Tools like Payment Bear ensure faster payments by streamlining the invoicing process, offering flexible payment terms, and reducing transaction costs. Late payments? We don't know her.
5. Make the Most of Your Precious Time
Time is your most valuable resource. You might not be aware of how long tasks and projects are actually taking you. Luckily, there’s an app for that (welcome to the digital age friends). Tools like Toggl Track can help you identify where your hours go and how to work smarter, not harder. Get more done without the burnout.
6. Strengthen Your Client Relationships
A happy client is a reliant client (yes, we deliberately tried to rhyme there).
Trust and transparency are everything. Features like Payment Bear’s automated reminders and partial payment options make following up on payments stress-free, leaving you to focus on delivering for your clients.
7. Stay Ahead of Industry Trends
Whether it’s adopting new tools (we’ve got a whole article on the best tools for business here) or responding to market changes, staying informed helps you stay competitive. Integrating platforms like Payment Bear into your workflow shows clients you’re serious about efficiency.
8. Set Clear Goals
Be intentional with your targets—whether it's hitting a revenue goal or launching a new service. Goals keep you focused and motivated.
9. Protect Your Cash Flow
Late payments can derail absolutely all your plans. With Payment Bear, you can get invoices out faster and provide flexible options that help clients pay on time, keeping your business moving, come what may.
10. Keep Learning
The best business owners never stop learning. Read books, listen to podcasts, join webinars, or connect with mentors to stay sharp.
11. Don’t Forget About Yourself
Don’t forget to look after numero uno in the business (that’s you).
Running a business can be incredibly demanding, so remember to take breaks and look after your well-being. A well-rested and helthy you is good for your business and your clients.
Key Takeways
Running a business is hard work, but it doesn’t have to be overwhelming. Tools like Payment Bear make invoicing and payment collection simple, so you can focus on growing your business and doing what you love.
If you’re ready to save time and get paid faster, sign up for Payment Bear today and see the difference for yourself.
