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Productivity

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.

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.