Many small business owners tend to devote much time to the bookkeeping aspect of their business, thereby taking away from building their business. Think of how many extra hours you would be able to allocate to important business at hand if you had someone else to do your bookkeeping.
Organizing and paying bills, responding to business correspondence, filing forms, posting transactions are all aspects of running a business that someone else can do for you.
You might pay for a bookkeeper to come in and help you get organized and continually maintain your books, but think of the value of your own time. The value of lost time on significant business matters outweighs the cost of hiring a bookkeeper. It is you as the business owner that generates the return on the investment you made in your business. Every hour of time spent on something else reduces the efforts put forth of creating new business. You could spend time on advertising, selling strategies, target your markets, search for new inventory, or come up with an optimal marketing plan to reach your target market.
Your contribution is invaluable. Let someone else measure how much.
Time and space are two significant factors of a successful business. Space has to be utilized efficiently to maximize production and earning potential. Every square foot of space has a return attached to it. Making the most of space will will contribute to the bottom line just as every unit of your time if optimally allocated, can have the same effect.
Howard Edelstein, MBA – Owner of Equitable Paperwork Support LLC
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If you are overwhelmed by bills or simply do not have the time to get organized and pay your invoices, the worst thing you can do is ignore them. I help people in this situation every day, and find that getting yourself out of the unpaid bill nightmare takes organization, budgeting, negotiation with creditors and communication. I do all this and more for clients as a daily money manger. You can find more information on my website, http://equitablepaperworksupport.com.
I have been on both sides of the fence working as a creditor or payee, and working on the client’s behalf as a representative for him or her. The worst thing you can do is ignore invoices all together. Looking at it from the creditor, no communication means one thing. “I don’t care and will not make an effort to pay.” From the view of the business you owe money to, there is nothing to do but send you a delinquency notice and inform you that the next step is sending you to collections. Your credit rating will drop, your ability to apply for credit will be limited, and you might even have your wages garnished if a Judgment is issued against you. Communication with the creditor will show that you are interested in clearing up your balance. I have found that most creditors are willing to work out mutually acceptable payment plan, because they realize that a plan is the only way they will get paid if you are having financial difficulties.
As soon as you see that you are having problems getting your payments out due to lack of time, lack of funds, lack of understanding of your invoices or health insurance, or are just simply disorganized, the time has arrived for you to seek help from a person such as myself, a daily money manager. The longer you wait, the greater the magnification of the problem. You can simply go to https://equitablepaperworksupport.com/contact-us/ or call me and I will be available to help you if you are in northern New Jersey or surrounding areas. If you are from a different area, I can refer you to someone that can help you.
Even if you think a problem cannot be solved, most times the answer is right in front of you. There is always a solution. Don’t be embarrassed to seek help. A daily money manger upholds strict confidentiality laws for your benefit and security.