In 1975, actor Roy Scheider delivered one of the most memorable lines in movie history when he said: “You’re gonna need a bigger boat.” The phrase—first uttered by Scheider’s character, Chief Martin Brody, in Jaws—has grown a life of its own in the 40+ years since audiences first heard it. Today, its meaning spans well beyond Brody’s attempt at thwarting the man-eating shark’s thirst for carnage. It’s now a euphemism for a situation where someone is ill-equipped or unprepared to handle what’s in front of them. If you own a small business and you’re feeling overworked and understaffed, let us first congratulate you. Finding that level of success isn’t easy, and many fail before encountering the problem you have. Also, it may cause damage to the long-term health of your business if you don’t consider when it’s time to hire a bigger team. Here are three ways to know when it’s time for that proverbial bigger boat.
There are many incorrect assumptions about how software might negatively impact a business. These include misconceptions around the price, lack of obvious business benefits, or worries about how hard it is to use the software. These myths are particularly prevalent among small businesses. That’s a shame because in many ways small businesses stand to benefit the most from these platforms' features. Here are a few of the biggest and most enduring myths about business software.
Small business owners should never feel like they need to acquire business software simply for the sake of implementing the latest technology. Yes, the business software market is expanding rapidly and growing at a rate of eight percent a year. Its market share is now hundreds of billions of dollars, but that doesn't mean entrepreneurs should rush to purchase the latest platforms. Small businesses should take a careful and strategic approach to select software. They can do this by first examining their own objectives and identifying areas they want to improve on.
There’s a reason why you’re more likely to find an old “Yellow Pages” phonebook in an antique shop than someone’s home. Like rotary telephones, black and white televisions and typewriters before it, new technology basically left the printed directory in the dust. We all know most people now go online to gather information, but did you know 90% of American adults use the internet? And they’re not just searching for phone numbers either.
For small businesses, one of the keys to success is establishing consistent cash flow. Whether you own a three-man plumbing company or a small bakery, you need monthly revenue. Some small businesses can't afford to maintain a dedicated billing and invoicing department and as a result, the work of drawing up and sending out invoices falls to the owner, who already has a ton of other priorities to juggle. In other cases, small businesses may dedicate a specific time of the week to creating and sending invoices. Either way, the billing process can get slowed down, and maybe even delayed or overlooked altogether. Not getting those invoices out in a timely fashion can choke up cash flow and can cause stress. The latest small business software can bring major relief.