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WNiF Winter Edition: 6 Ways to Efficiently Manage Your Business

6 Ways To Efficiently Manage Your Business

Running a business can be overwhelming. The number of tasks that accumulate is daunting by itself, but the time it takes to manage them all is even more demanding. Put down the pen and paper, get off the phone and implement these six tips to save your business time and money.

1. Run reports to eliminate the guessing game.

Know what’s going on in your business. Use an automated reporting system to keep track of sales by category, new memberships and revenue. The insights will help you determine which products and services are working best for you and the automation will save you countless hours at your desk. You can even create reports that track what your employees are doing (if you have staff).

2. Steady your cash flow and stop chasing down payments.

Business owners that don’t automatically collect membership dues each month spend numerous hours trying to determine who has and hasn’t paid for their services. They also tend to experience lulls in revenue during certain times of the year, often due to seasonal changes (people travelling) or a hard economy. When a recession occurs, people usually cut back (or stop) spending on their health and wellness. Help steady your monthly cash flow with the recurring revenue stream that comes from automatic payments.

3. Offer online booking to capture clients 24/7.

Don’t miss out on making money because clients can’t book services when your business is closed. Forty-six per cent1 of customers book classes and appointments after hours, and 83 per cent2 of them use a mobile device to do so. Accommodate customers’ schedules with online booking, and give them the convenience of booking with an app.

4. Manage your business from your mobile.

Remember when landlines weren’t cordless and you were stuck standing in one place if you wanted to talk on the phone? Now we have mobiles so you’re no longer tethered to a corded phone – or a desktop computer that requires you to work from your desk or office. Use fitness management software integrated with a mobile application that allows you to manage and access your business information wherever your day takes you.

5. Reduce the number of no-shows.

Stop paying someone or spending hours yourself calling or emailing clients to remind them of their upcoming class or appointment. Save both money and time by using automated email reminders.

6. Streamline your marketing efforts.

Don’t market your business with little return. Save time and money by using marketing services that offer customisable templates. Templates require little time to set up and are more affordable than starting from scratch. The right templates can help you easily create marketing tools for your business: everything from a website and emails to key tags and gift cards.

Find out more at  mindbodyonline.com.

References:
1. As reflected in all class and appointment bookings made through MINDBODY software from January 31 – March 1, 2014. v
2. “Report: 60 Per cent of Internet Access Is Mostly Mobile.” Marketing Land. N.p., n.d. Web. August 26, 2014.

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