Monday, March 4, 2024

Wisdom from Experience: How Seasoned Business Owners Do It

August 30, 2021  
Filed under Smart & Savvy

female entrepreneur doing research

By Amber Ramsey —

Self-employed business owners who have been around for a while develop an understanding of the best ways to conduct business. While there is no universal truth when it comes to the best way to run your specific company, it can be useful to learn from those who have weathered the storms of business ownership and are still in business. Embracing technology is a vital part of staying relevant in today’s competitive business market. 

Use Tech to Grow and Develop

Experienced business owners know the value of using technology, even if they are not skilled in it themselves. To make the most of their time and resources, these entrepreneurs often outsource their tech needs. A prime example of wise outsourcing is using a professional website builder who knows what
mistakes to avoid that can inadvertently send potential customers running. 

Businesses can use tech advances to run reports on website data. A lot of useful information can be gleaned from these reports, including demographics of users. Website data can show the most frequently visited areas of your site and highlight popular products or services. Business owners can use this valuable information for growth and development. 

Make Your Payroll Work for You

Experienced entrepreneurs can tell horror stories of how time-consuming payroll can become, particularly as a business grows. Fortunately, it does not need to be this way. Seasoned entrepreneurs often use a multipurpose program that tracks invoicing and payroll in one comprehensive plan. Using payroll software simplifies everything and frees up time for business owners to attend to other aspects of the company. 

Even if your business is small and may not necessitate an automated payroll system, you can still track time with an Excel timesheet template. These spreadsheets make it easy to track schedules, work time, and invoices. Whatever approach you choose, there are multiple benefits to having an organized payroll system, including greater accuracy, fewer hours spent in front of the computer, and lower stress levels for business owners. 

Staying focused on the tasks that demand your direct involvement is good for your company and keeps you committed to the goals of growth and development. As you consider how to make the most of your business, do not forget to invest in your own growth as a business owner. There are many ways to expand your knowledge of business practices.

Invest in Yourself

Your mind is the most valuable resource you have as a business owner. The way your business grows and develops depends on your knowledge and skills. Investing in your
education is a wise use of time and money, and your business will reap the benefits over the long haul. You can learn a lot from listening to podcasts about running a business, and reading journals geared toward growth and development. Whether you opt to take courses online or sign up for relevant workshops to learn specific skills, it is worth your effort. 

Another wise investment for your professional growth is joining a Chamber of Commerce. When you join, you can benefit from collaborating with other business owners, many of whom have been successfully running one or more businesses for years. By joining other experienced entrepreneurs, you can learn the best ways to manage your own business through their example. Teaming up with those businesses can promote your company and offer mutual benefits through collaboration, while making a positive difference in your community.

Your business can grow and thrive when you consider the wisdom of experienced entrepreneurs and implement some of their strategies. 


About the Contributor
Amber is a career woman. She’s fierce, confident, and has the “can do” attitude we all strive for. Like most of us, she started out in the corporate world, but she found that her fire, spirit, and creativity were better suited to the entrepreneurial lifestyle. Amber has been on both sides of the desk, as an employee and the boss, so she has plenty of career advice to share.

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