• Szabina Korga

Stress Factors of Running a Small Business that Could Be Avoided



Running a business is never easy. When you become a business owner everything could seem fine and perfect as you are your own boss now and you can decide all the important matters. But these important decisions could turn all the fun and challenging new path into a big stressor and you could easily be worn off sooner then you can enjoy the fruit of your hard work and maybe it could lead to canceling your business.


In order to avoid that, you need to recognize these stress factors in time and find a solution for them before they will become so big that you feel drowned because of the frustration.


Work-Life Balance

When you start and run your own business, you think that without a boss it will be easy to manage your time as you wish, you do not need to ask for permissions for time off and holidays and you can relax more. Well, in most cases the opposite happens. As your income now depends on how hard you work, you will work much harder than before. As there will not be real office hours for you, your mind will stay in business owner mode. I am not suggesting to work less, as sometimes it is not possible and can be that you even really enjoy your new role.


I suggest you use good tools in order to organize and track your time, and also solutions which save you time. If you choose a software that has a mobile application, so you can easily have enough information and process tasks on-the-go. You do not need to sit in front of a computer or laptop and be in an appropriate environment. Just grab your mobile and work on the train or when you take your dog for a walk. For example, with Haslle, you can manage all your expenses immediately with the mobile app.


Of course, you need to know when you have to turn off everything and even forgot that you have a company.


Accounts Receivable


Unfortunately, it is quite usual that your clients pay later for your work, even after the due date and you have to waste your time with reminding them and chasing after your well-deserved payment. The best solution can be to have software with that you can track easily the status of the invoices and even automate the reminder emails and avoid all constant fights for your money.


You can define a fee for late payment which can motivate better your clients to pay in time, although that would not solve the problem of stressing and wasting time. The best solution can be to have software with that you can track easily the status of the invoices and even automate the reminder emails and avoid all constant fights for your money.


Cash Flow


Cash flow is always a stressor, it does not matter if you have a big corporate or a young startup. To have more income than expenses are not so easy, especially at the beginning. The key is to be organized and be aware of all the money moving within your company. If you have the good tools it is very easy to follow up on your cash flow, cut expenses which is not necessary and be paid in time. This can be easily done with a proper expense management tool, like Hasllle.


If you are interested in more explanation and tips you can read on: How to Boost Your Startup's Cash Flow?


Taxes


There is that time of the year what every business owner dislikes. This the period when you need to collect all your documents and declare your taxes and file the tax return. If your invoices and expenses are not organized well, this could turn into a nightmare. Not to mention, that if you do not find all the supporting documents, you cannot deduct some big expenses, like travel costs or insurances.

With a proper expense management tool, like Haslle, you can create a report for your tax return with one single click or with the application with an easy touch on the go. No more, running around after papers, missing expenses, and waste of money and time. With Haslle it could be paperless and effortless.


Expenses


Speaking about expenses, the old, traditional expense report procedures can cause you a big headache. It is a waste of your time and could be a waste of your money as well. Collecting all the receipts and keep them until you can file a report is quite chaotic. What if you lose an invoice for a business dinner which costs you hundreds of euros? And even if you keep all the supporting documents, how long does it take you to prepare the report, get it signed, and wait for your money until the end of the month at least.

There is a very simple and effortless solution for handling the expenses of your business. Haslle can provide you with pre-loaded or virtual credit cards that you can provide for your employees or even departments. With that, you can avoid the whole tiring process of preparing reports and get them approved on paper.

With the application, you can do reports of all expenses on-the-go and approve requests immediately in real-time. You can be aware of all of the costs at any time of the day and there will not be any surprise for you at month ends.


If you would like more information or schedule a demo, please contact us:





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