Administration

Share The Small Business Love: The Gift Of Outsourcing

MOMENTUM Business Support Administration, Business Support, Digital Marketing, Finance, HR and Recruitment, PA, Project Management, Research, Social Media
Three fanned out gift certificates on a blue background

Time is a precious commodity – especially for small business owners and entrepreneurs. So, if you know an SME that is constantly struggling to find enough hours in the day, why not show your love by gifting them the ultimate luxury – time. A gift certificate for our outsourcing services could be the perfect solution for the busy business owner in your life. It is a practical, time-saving, and problem-solving gift that will be truly appreciated.

So, if you are looking for a unique Valentine’s Day (or any other special occasion) gift that’s straight from the heart, look no further!

Why Outsourcing?

The concept of outsourcing has been around for centuries, after all why invest valuable time into tedious tasks when your expertise could be better spent elsewhere? Outsourcing is a highly efficient, cost-effective way to grow any business. It helps SMEs free up valuable time and resources to focus on core competencies. The ‘gift of time’ is a great way to share the small business love while providing the lucky recipient with a break from the hectic grind of running a business. They’ll be able to enjoy the freedom that comes with delegating and make space for more important things, without having to worry about the costs. It’s the ultimate, strategy to accelerate business growth.

What Services Can You Outsource?

The gift certificate can be redeemed against any service provided by MOMENTUM Business Support Ltd, and covers many aspects of both core and niche business operations. Some of our most popular services include bookkeeping, HR, digital marketing, and administration support – each tailored to suit the recipients needs and requirements.

Whether it’s a gift for someone special, a business or not for profit you admire, or perhaps a treat for yourself – we can agree that we could all use a few extra hours in the day. Available to purchase at any value, our certificates are the perfect way to begin an outsourcing journey.

For more information about purchasing or redeeming a gift certificate, get in touch today! Our experienced, fully trained team would be delighted to talk you through the process, offer their specialised back-office support or answer any quires that you or your gift recipient may have:

T: 01903 688789 E: makeithappen@mbsmih.com

Improve Your File Management Efficiency

MOMENTUM Business Support Administration, Business Support
A person typing on a laptop with a document icon next to them

As a business, file management can be a tedious and sometimes overwhelming task. Between your computer, the cloud, and mobile devices, remembering where all of your documents are stored can be quite the challenge. But fear not – there is always something to be done! To make finding everything that little bit easier, here are our top tips to help you improve your file management efficiency.

Avoid saving unnecessary documents

Saving unnecessary documents will clutter your folders and take up precious storage on your device. Too many files will make it more time-consuming to navigate and find what you’re looking for, so avoid saving documents unless necessary. Take a look through your existing documents and only keep the ones that are relevant to your current work. Declutter regularly!

Name your files and folders consistently

Naming files and folders in a consistent way makes your documents much easier to find. Using abbreviations like “CLI” for clients makes it easy to identify sought after files and folders relating to your customers. Including the date of creation in the file name can also be useful for sorting, while ‘colour coding’ softwares are an effective, tried and tested way to differentiate your content through the help of a third party.

Store related documents together

Store all documents relating to a single project or theme in the same folder. Avoid grouping unrelated documents together just because they have the same file type. For example;  putting all presentations in the same place, all spreadsheets in the same place etc. You can always use the ‘sort’ function in a folder and sort by file type instead if you’re looking for something specific.

Separate ongoing work and completed work

If you store your ongoing and completed work in the same place, things can get really confusing and it can make finding the right files a nightmare. Avoid getting mixed up by moving all your completed work into a different folder every couple of weeks. This will go a long way in improving your general organisation as well as providing a clearer picture of your current tasks and duties.

Don’t overfill folders

Try splitting a busy folder into smaller groups (subfolders). You could try dividing the folder by different categories, for example; clients. Then within those folders by different projects or contracts. This will allow you to navigate through your documents quicker and ensure that you always know where everything is. If you can’t divide the files any further and are having trouble finding what you need – try sorting by date modified, file type, or name.

Make digital copies of paper documents

Making digital copies of business documents is highly recommended. It can be helpful if physical documents are taking up too much space, if you like to have everything in one place, or if you’re on the go and frequently need to take your ‘office’ with you. You can do this by scanning documents and organising them accordingly in relevant folders. Carefully consider if it is appropriate to make copies of sensitive documents and always adhere to the latest GDPR standards.

We know that file management can be a struggle, and so we hope you’ve found our tips insightful! Should you ever find yourself needing help with your admin or any additional business support, please don’t hesitate to reach out to our team – we’re always more than happy to help! Get in touch:

T: 01903 688789 E: makeithappen@mbsmih.com

Bookkeeping Tips for SMEs

MOMENTUM Business Support Administration, Business Support, Finance
Business individual carrying out administrative duties on a white table with a laptop, diary and tablet

No matter how much you try to avoid it, bookkeeping will always be an integral part of your business’s daily operations. Helping to improve your budgeting, target visualisation, and compliance with Government regulations, bookkeeping is the backbone of any well organised business. Failing to designate the necessary time and focus it needs, can quickly result in stunted business growth and progress delay. And while we can’t make it disappear, we can offer a helping hand and some of our favourite tips to help you boost your SME’s bookkeeping efficiency.

Separate business and personal finances

One of the most common mistakes among business owners is the mixing up of business expenses and personal income and spending. While it may seem a small overlook at the time, it is a sure way of overcomplicating your future bookkeeping duties and can actually lead to some larger issues down the line. Get a business bank account and a separate credit card before you begin any business operations. This will help to keep your finances organised and helps your business build its own credit rating.

Learn to automate

Automation can go a long way in helping you to carry out your accounts and bookkeeping operations – it’s a great time saving solution! Streamline your duties with smart accounts and payroll softwares and take time to pick the right one for you. Bookkeeping tasks you can automate include: payroll, categorizing transactions, expense management, bank reconciliation, cashflow forecasting and reporting.

Keep track of business expenses

Predicting and budgeting future business expenses is a tough job, which is why it’s imperative to track any current outgoings and keep organised records. It helps to create a clearer forecast and thus allows more room for any unexpected spendings. These records should include things such as: inventory, supplies, insurance, utilities etc. Not only will this give you a better idea of what to expect it will also make it easier to claim any business expenses when it comes to doing your taxes. Remember to always keep receipts!

Review regularly

Undoubtedly one of the most important things when it comes to measuring your business progress and making sure you’re staying on track are regular reviews. Looking back at past records and reviewing financial affairs gives a more in-depth perspective into any trends, and therefore allows you to better strategize your future plans. It also helps to establish stronger targets, boosts proactiveness, and improve responsiveness to any presented challenges.

Utilise time tracking software

Time tracking software can be a great addition to daily business operations, allowing your team to clock in and out of work using their electronic devices. It also promotes better time management and allows you and your employees to see how your time is distributed throughout the day. This will help you to gain a better understanding of your workloads as well as automatically tracking and monitoring wages and any additional overtime. Do your research and pick a tracking solution that works well with your other business software.

Stay on top of tax deadlines

Don’t back yourself into a corner when it comes to your tax deadlines. Anticipate and avoid running short by leaving finances aside for all established tax bills. Be sure to be timely and on schedule with your payments to avoid any fines and note all important deadlines in your calendar. To improve your efficiency set reminders on your chosen device, alerting you of the approaching deadlines ahead of time. When you can, try and leave room for any unforeseen mistakes and don’t leave your taxes until the last moment.

We know bookkeeping duties aren’t smooth sailing for everyone – which is why at MOMENTUM we offer various outsourcing services to help you and your business thrive. We hope you’ve found this blog insightful and encourage you to reach out should you ever find yourself needing any business support. If you’d like to find out more or have any additional queries, get in touch:

E: makeithappen@mbsmih.com   T: 01903 688789

Are You Spending Too Much Time On Admin?

MOMENTUM Business Support Admin, Administration, Business Support, PA
office man looking down at his wrist watch with concern

No matter what field your expertise lies in, a common ground for businesses always seems to be a lack of time. But could it be that we’re all just dedicating the hours to the wrong things? Research shows that SME owners and executives spend a weekly average of 16 hours carrying out administrative tasks and duties – almost half of the average working week! Those extra hours could be crucial for growth and productivity, and yet we’re spending them on tasks most of us don’t specialise in. Of course, we’re not suggesting you start neglecting your admin duties (after all they are a vital part of any business). However, outsourcing those tasks to a trained team could give you back that precious time.

What tasks does admin cover?

There are many duties that fall under administration – each varying from business to business. Most of the workloads cover clerical tasks like organisation, communication as well as maintaining internal databases. In short, admin is often the backbone of your business operations – ensuring everything runs smoothly.

Will outsourcing admin cost more?

Quite the opposite! In most cases, outsourcing admin is far cheaper than expanding your workforce internally. It allows your management to utilize specialist, third-party employees instead of delegating admin duties to your existing team members. This results in higher office productivity, promoting business growth, and sales. Finally, since you’re only paying for the exact time spent per task – you’re cutting down the additional costs of an average salary. Lowering the costs of a salary, recruitment and training means the additional benefits of an extra budget to put back into your business.

How will this benefit my business?

The best use of your time is doing what you’re good at, and freeing up those extra, weekly hours can make a ground-breaking difference to business growth. Giving your undivided attention to core tasks, helps you to focus and produce higher quality services for your clients – ultimately increasing sales and reach. It’s easy to get lost under all the admin, there always seems to be a time pressing task. But to move your business forward you must invest your time wisely – into projects with more prospective potential. 

If you’d like to find out more or if daily admin is getting you down, reach out to our team. Our administrative services are always tailored to suit you and your business’ needs, offering efficiency and a helping hand. Get in touch:  

E: makeithappen@mbsmih.com   T: 01903 688789

5 Reasons Why You Should Be Using A CRM

MOMENTUM Business Support Admin, Administration
Happy young woman in an office working with a laptop

Want to listen instead? Click here

Looking after your customers is key to the success of any business. In today’s era of ever evolving technology we now have tools to help us do this in an efficient and user friendly manner without the use of client record cards, manual diaries, Excel spreadsheets or just your memory! Customer Relationship Management databases (CRM’s) have been around for some time and provide a number of benefits to any growing business.

Customer Engagement – CRM’s track and manage all interactions with prospects and customers  and flag opportunities that might require additional nurturing or follow-up. You can even link your email account to your CRM so you will have real time data as to when your customer or prospect was last contacted.

Customer Segmentation – CRMs allow you to sort contacts by the data that you’ve collected about them. You can filter by location, company size, or deal stage. This allows you to target specific customer sets and increase conversion rates.

Efficient Communication – CRMs offer a selection of customisable, ready-to-use email templates, proposals, quotes, invitations, newsletters, marketing campaigns etc. and allows you to easily select the customers you want to send them to and the email address you want them sent from. For marketing campaigns or communications with any large groups of customers, the CRM will also provide you with delivery and engagement metrics allowing you to see how many customers unsubscribed, opened the email, clicked any links in the content, were bounced back etc.

Automated Reports – CRM’s allow you to generate automatic reports to maximise your time and assist you in making strategic business decisions. You can create your own suite of reporting such as conversion rates, sales forecasting, customer contact, source of leads, and goal progress reports to name but a few. 

GDPR Compliance – CRMs can obtain and document your contacts’ permission to store and use their personal details, send automatic notifications to all new contacts informing that you would like to store their data, and manage your customers’ subscription to email communication preferences. This will ensure you are compliant with GDPR requirements.

If you think a CRM would benefit your business, there are a number of systems out there to choose from and we’d be very happy to chat through our experience and ideas with you. Just get in touch! 

E: makeithappen@mbsmih.com   T: 01903 688789