A successful business comprises of fun and boring stuff. Among the boring stuff a business person has to deal with is paperwork. In this article, you will see the reasons why the boring paperwork is an essential part of your business and how to manage it effectively.
The Boring Paperwork Your Business Should Have
- Employee Manual
The importance of documentation in business cannot be overemphasized when dealing with employees expectations. Where there is no laid down rule and mode of doing things, then any act carried out by the employee is believed to be right.
A serious organization that aims to make a profit and achieve its goals needs to have a predetermined set of rules and policies written down for its employees to work with.
An employee upon assumption of duty in the company needs to have a manual which contains all the pros and cons which they must agree to by appending their signatures. The employee is expected to keep the manual while the employer retains the signed forms. This is one of the most essential but boring paperwork of a business.
- New Hire Packets
Your employees need to be given an organized file, for instance, the “New employee file.” This should contain employee handbook, any required state documentation such as social security cards, driver’s license, etc. This file enables you to keep proper track of your employee.
Each business possesses something’s they are notable for which is peculiar to their companies and which needs to be carried out in a certain way. This may indicate what the industry prefers or what is applicable. Some of the procedures that may require paperwork include hiring, discipline, handling of cash, branding, marketing, etc.
- Disciplinary Policies
Not all businesses need to have official paperwork for disciplinary policies. However, fast food business such as restaurants or retail store will need this paperwork more often than others.
Make a well-documented list of disciplinary measures and include it to your employee manual. Whether you are a business owner or an employee, it’s always great to have what to stick to and know your boundary as regards to official duties. Everyone within the organization should know the set punishment for their actions whenever they cross the line.
Find a way to keep track of your stocks (both those coming in and those going out). Through this, you will have a well-organized invoice and help you to curb avoidable loss. It also helps to reduce the stress associated with any form of payment.
Inventory is critical though it can be so dull having to deal with extensive and voluminous inventory paperwork. Most restaurants and other businesses that make a consistent purchase and use of items need to take inventory very serious.
Several businesses have lost a great deal of money from the inability to keep track of their inventory. You don’t need a very complicated list; neither do you need to buy the software. You could create an excel file on your computer, create columns and rows where you can enter your inventory records per week, twice a month or monthly based on your preference. This is an effective stress saving and cost-saving measure.
Do ensure your checklists are well documented so employees and managers can work with it once they have been trained and hired. Checklists are long exhaustive lists of the things you need to do or put in place for the effective running of your business. Set expectations, a timeline for achievement and a routine for your employee to know what is expected of them. A checklist is important paperwork that needs to be done if you want your business to be well organized and productive.
This could be a bit broad because each company has its peculiar needs and characteristics. For instance, some business may need just pure profit and loss documentation while others may have a more considerable amount of cash inflow that requires more sophisticated software.
However, both scenarios need proper documentation to keep track of cash inflow and outflow. Proper accounting paperwork also helps each person or department in the business to know their account goals and if they are meeting those goals. It could be done monthly or quarterly.
To enhance your business, I would recommend that you look at getting the aforementioned boring paperwork for your business.
Tips To Keep Your Paperwork under Control
There are several jobs with boring but essential paperwork such that if they aren’t done your business risks making a loss. What are your plans towards organizing the massive amount of paperwork that accumulates around businesses? Paperless office, right!
Firstly, you need to understand that we have lots of people who perform excellently well in paperwork while others are crappy at it. You need to know where you stand and how best to improve your ability to do the boring paperwork. Below are tips for handling your tedious paperwork and enhancing your business growth.
- Print only when it’s necessary to do so.
If you need to print out your paperwork for further action, then ensure you keep records of it either by saving it in your mailbox before printing out. Don’t bother printing it out if it will just lie idle and litter the table. You can create a particular folder on your computer for articles of interest which are not necessary to have a hard copy of it.
- Choose a specific weekday to deal with tedious but relevant paperwork.
Discipline yourself on this; don’t get distracted as you set aside time for tasks like this. For instance, you can choose to pay your bills every Monday while you use the Tuesday to file all your paperwork for 30 minutes.
- Keep a small notebook on your work desk.
Start your day with a concise list of to-do lists and activities. Ensure you include one or two tedious but essential paperwork. You might add other things into your lists, but the to-do list takes center stage.
- Break tasks into bits and group them as much as you can
Most times we are often encumbered and distracted such that we hardly focus on one task at a time. However, setting aside a deadline to complete the SAME type of job will go a long way to help with tiresome paperwork. For instance, you can pile up a bunch of paperwork to do between 2-4pm before the closing of work.
- Simply do something.
Paperwork can quickly snowball, and this is its primary problem. Within a minute you are on top of the situation, and in another minute you can’t be seen behind the heaps of paper. You could easily ignore it, but that could lead to more mess created. Simply pick tedious paperwork, set a short time frame for yourself and START.
- Avoid distractions.
Avoid opening emails, chats or other distracting devices till you have completed the set task. Avoid turning on the computer unless it’s relevant to the task at hand hence necessary to do so.
- Ensure everything is well kept.
Get shelves to adequately store your files and folders to prevent it from littering your desk and making it look disorganized. Buy paper clips, staplers and other stationeries that will make your paperwork look organized.
- Consider outsourcing some of your paperwork tasks.
Are you so weak with paperwork that you often procrastinate for days before getting a task done? Have you tried to dig in deep to find the right inspiration to turn your tedious paperwork to something delightful? Then you need to seriously consider outsourcing your business paperwork task to a competent professional. This could be one of the best decisions you will make for your business growth and profitability.
If you are a startup business, it may be difficult to justify these expenses, so you need to find cost-saving ways to do your paperwork. However, as the business grows, you might need to seriously consider virtual assistants who love to do the paperwork you find so dull.
- Educate yourself.
Constant improvement is one of the ways you can overcome the boring paperwork stuff. For instance, take courses online on Microsoft Excel, do a typing practice, financial accounting and bookkeeping. You can also try out some classes on project administration; learn how to keep financial paperwork, and other related skills.
- Understand that the size of your paperwork is dependent on the size of your business, so it’s crucial you set up some systems now.
As your business expands so do the need for paperwork and you could spend hours with business administration duties. So, it will be great to start up your business with the right plan for the timely execution of all admin tasks and paperwork. Focus on the whole aspect of your business especially the boring ones like paperwork which is essential for your business growth.
With all these tips I believe you will solve all the paperwork issues you might be facing in your business.
Do you still need a helping hand with the “boring stuff”?
Contact me NOW at firstname.lastname@example.org.