Spring is a time for renewal and new possibilities. Your small business may use some spring cleaning, too, with a few smart changes.
Three Tips For Spring Cleaning Your Business
Reset and Refresh
As a small business owner, you’re busy taking care of your business. But don’t forget to take care of the most important part of your business – you. Your business won’t be healthy if you aren’t.
Make sure your body and mind are in shape. To get started, take a walk, park your car in the farthest spot and read rather than watching TV. It is also important to eat well and get rest. Small business owners often work long hours, so healthy food and sleep are vital to sustain your energy.
Audit Your Banking Relationship
Take a look at your business’ arrangements with your financial institution. These questions from Chase Ink can get you started:
- What products does your financial institution offer? Of course, there’s business checking, but what about for your credit and capital needs? Is your bank a preferred SBA lender, so you access an SBA loan if you need one?
- What services do they offer to make your business more efficient? Look for mobile apps, for example. The Chase Ink App automatically syncs with your banking account so you can access on-demand reporting or download receipts at the office – and on the go.
- Do they customize services for small businesses? Products and services created for large customers don’t always suit small businesses. Take advantage of information geared specifically for your needs. Chase, for example, offers stories – online – that help entrepreneurs beyond banking.
Maximize Rewards and Benefits
Finally, make sure you are getting all the benefits you can from your bank.
You may be able to earn balance-transfer bonuses by consolidating your credit cards to one institution, for example. Also, you might earn more rewards by authorizing trusted employees to have business credit cards with the same institution, instead of using their own credit cards and getting reimbursed by your company later.
Also, look for a credit card that offers discounts for various purchases. You’ll get the discount — and you may rack up added rewards from the credit card use.
Cleaning Image via Shutterstock
Aira Bongco
It always helps to step back from your business from time to time and assess where it is headed. This way, you’ll know what to do next.
Good point Aira – too many good people just head straight into every quarter with their head down, ignoring all the signs that it’s not giving them or their family what they want. Well said.