Top tips to help business owners have a guilt-free break

Owning and operating a business in the construction sector can often mean it’s hard to clock off completely. Despite the industry being renowned for working around the clock, Australia’s seasonal weather is an invitation to book a short break ahead of, or after, end of financial year.

Brad Paterson, VP and MD, Asia–Pacific at Intuit, shares his tips on how business owners can set themselves up for a guilt-free break.

Tip #1. Go mobile: While a holiday break is an invitation to chill out, you can still check in on business finances if you’ve got the right set-up. For example, by using cloud accounting software that offers a mobile app you can access your business on the go, managing your accounts, inventory and even invoicing remotely.

By making a move to mobile, you’ll also save yourself precious time that will reap rewards as you plan a break. You may be surprised to learn that 63% of small business owners using mobile devices and apps say the technology has saved an average of 7.5 hours per week — the equivalent of nine working weeks each year^[i]. So, you can definitely book that holiday with peace of mind!

Tip #2. Manage expectations around your holiday: Small business owners are entitled to a holiday break like everyone else, but holiday plans can go pear-shaped if key stakeholders aren’t forewarned. Contact suppliers, customers and other stakeholders ahead of time to manage their expectations around any change in business hours and to notify them of the new main point of contact during your holiday. Being on the front foot and flagging closure periods upfront is always better than suppliers unexpectedly receiving an out-of-office email response, or having customers turn up at your office to find it closed.

Tip #3. Automate business processes: Consider tools and tech that can do the legwork while you’re away. Everything from emails to finance and payroll can be automated. Google Docs is a great tool that allows SMBs (and workers) to access, input and update documents on the go. This means users can update files at the same time, allowing workers to update project timelines and reports in real time from the job site. When looking to simplify the day-to-day running of the business, cloud accounting is a great solution. Intuit QuickBooks Online helps SMBs save time by automating accounting processes including payroll and invoicing.

Tip #4. Take advantage of the benefits of migrating to the cloud: Most SMBs understand that cloud-based systems have many benefits, but some struggle to quantify the impact these benefits could have on their business. Cloud-based solutions offer increased accessibility and flexibility through being able to access, update and save files from multiple devices in any location; meaning you can access your accounts, send invoices and raise quotes from the worksite. To identify the right cloud-based solutions for your business, get clear on the problem you want to solve so that you’re selecting a product that will address your specific need.

Tip #5. Have a plan: Often when business owners take time off, they still spend the whole holiday working. When you decide to take a break, have a clear plan for how the business and current projects should be managed in your absence, making sure staff know who is in charge. It can be a good idea to set aside just 10 minutes a day while you’re on holiday to check in with your team. This will give you piece of mind as it enables you to switch off, while still being available to manage any issues.

For more small business advice, visit Intuit’s Small Business Centre using this link.

Reference

[i] Mobile Nation: How Youngpreneurs are Transforming Small Business, <http://aumentor.qbcontent.com/wp-content/uploads/2014/10/Intuit-Mobile-Nation-Report.pdf>.

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