Softwares and practices to make your business more efficient (2020 Guide)

Trying to think of some fresh ways to tackle your business strategy? Do you have a small business venture or project in mind, but are unsure of some of the best ways to get it off the ground? To get the ball rolling, here are a few different ideas of software, as well as some general ideas and practices, that may well help to make your business more efficient continuing into 2020 and beyond.

Flesh out the year (or even decade!) ahead

One of the best ways to hit the ground running in 2020 with your business or independent work project is to flesh out some of the important bits and plan ahead so that you know what you’re doing and have a clear goal to work towards. Depending on the resources and time that you have available, don’t be over-ambitious, and set regular milestones so that you can measure progress and actually succeed, rather than overbearing yourself with monolithic tasks and feeling under pressure constantly.

One of the most obvious goals to keep at the forefront of every investment decision you make should be your financial motivations, namely how much you actually want to get out of your venture etc.

Financial software

Handling your business’ finances can be a pretty dull and menial task, and if it’s not one of your strong suits, then even a seemingly simple task, like sorting out paystubs, can often take up a lot of valuable time – time that you’d rather spend doing what you’re passionate about. If you don’t want to worry about this as much, take a look at some of the different software’s out there, and which might be able to streamline the process a bit for you. Quickbooks, for example, if you run a small to medium-sized business, is the sort of thing that might be able to help you clean up the backend.

Tip – As an additional, general rule of thumb, if you’re an entrepreneur or professional that finds themselves always on the go with never much time to spare, making productive use of your smartphone could be a good way of training yourself up in what would otherwise be wasted time.

Your phone is an invaluable tool that you’ll likely have on you at all times, and providing you’ve got a connection, you’re merely a simple tap away from a world of different apps, guides and podcasts depending on what sorts of things you want to learn about – whether that be something that could help to optimise and grow your business, or just something else entirely that you’re interested in. For one great example of a field that you might decide to educate yourself in a while on the go, RWinvest has recently just launched a property podcast, breaking down and explaining some of the fundamentals of buy-to-let investment if that’s something you’re interested in looking into.

Figuring out your finances in the first place

Particularly if you’re starting a new venture with your business and are unsure about whether your available funding/capital can handle some of the many different costs and expenses involved, you should make sure that you run some tests and do some research on competitors and similarly-sized businesses in your niche, to figure out how they have managed.

Remember, you should also try to ensure that any existing financial commitments you have are tied up or dealt with as a priority before jumping into something new. If you can’t comfortably commit to a project, then you might find that it will stunt your development and growth as the month’s tick on. Good luck in whatever it is you’re thinking of pursuing!