10 tips that save precious time as an entrepreneur

1. Invest in administration

Administration is the Achilles’ heel of virtually every starter. After all, if you hate something you probably won’t be all that good at it. Fortunately you can subcontract a large portion of those time-consuming administrative processes. Even small businesses can find very interesting packages online to streamline their administrative follow-up and make it much more efficient. Moreover, you’ll easily earn back every investment, not just in time but in return as well.

2. Write standard letters

Writing a business letter takes time. Drawing up a contract takes even more, especially if you’re not legally trained or a writer by nature. In many cases there are mandatory clauses or legal consequences to take into account. To save time you can standardise your correspondence as much as possible so that you can always fall back on the same well-thought-out basic text. Before you start using these standard letters you can have them proofread by a competent professional.

3. Register your domain name

DNS is the official body that can register your domain name in Belgium. Please keep in mind that the organisation only uses registered agents. In practice these are web hosting companies that view the registration of a domain name as part of a broader service. At dns.be you will find the answer to a variety of questions regarding the registration procedure.

4. Draw up a financial plan

As part of the business plan, drawing up a financial plan takes a lot of time and energy but if you apply yourself you can save a lot of work later on. A good business plan will help you determine whether your project is feasible. This saves time in the start-up phase but it can also come in handy at a later stage. If you founded a public or private limited company or a limited partnership, drawing up a financial plan is no longer a good idea, it’s an obligation.

5. Internet use

Add URLs of interesting websites to your favourites. Categorise them in an orderly fashion and give them a recognisable name. This keeps you from having to resort to search engines time and again, only to be overwhelmed by the multitude of search results. Make a habit of adding interesting web links in a magazine, newspaper or brochure to your favourites.

6. Deal with complaints immediately

You can learn a lot from complaints. They rarely if ever just drop from the sky. On the contrary, they usually point to a weak spot in your organisation. Complaining customers are not a ball and chain, nor are they a nail in your coffin or a thorn in your side. Instead they are a golden opportunity because if you handle the complaint well you’ve made a customer for life and this generates priceless word of mouth.

Just keep in mind there’s no such thing as perfection - certainly not companies. This means that negative feedback is always possible. By the way, statistical research tells us regaining a dissatisfied customer is 10 times easier than making a new one. Stay calm, rational and try to gauge what the customer wants. With a little patience you’re usually able to arrive at a mutually satisfying solution.

7. Research the market

Online you will easily find dedicated survey software you can use to set up basic surveys and process the answers automatically. Looking to generate more response? Then you can send a printed direct mailing or hand out forms at your place of business with a link to the online survey. It’s an interesting but very time-consuming way to research the market that can only be used for basic questions. For a more profound study it’s best to call on a professional.

8. Learn to negotiate

Unless you’re born with the charisma of a Kennedy it’s best to prepare thoroughly for negotiations. Decide for yourself what kind of deal you want to secure. You can also intentionally set the bar higher than where you wish to land. Take into account that negotiations are a process that takes place step-by-step and don’t try to force things. Also, strong emotions never work, it’s best to keep a cool business head.

If the negotiations dwell on the same aspect for too long you can change tactics or play hardball. Never let on how much you really want something because it weakens your position. And if you feel that a negotiation is going nowhere fast, that the other party is implacable or that your interests are simply too far apart, don’t waste time by prolonging the negotiations but end them respectfully and on a positive note.

9. Advertise

Have you ever considered mounting an advertising campaign via email? The trick is to share an attractive message packaged in a fun video or animation... If the recipient enthusiastically forwards your message then you’ve hit the jackpot. This way your campaign spreads quickly and for free, like a contagious virus. Be sure to deliver your message in an attractive package. It is just as crucial to collect as many email addresses of (potential) customers as possible and get their permission to send messages. If you don’t, your emails will arrive unannounced, resulting in more irritation than appreciation.

10. Apply for subsidies

A broad range of initiatives are eligible for subsidies. It would be a shame to miss out. Finding your way through the jungle of possibilities, premiums and compensations is very time-consuming. Therefore it’s a good idea to make a habit of consulting a knowledgeable person for every important initiative. It can make you a lot of money without having to invest too much time.

Best of luck with these time-saving tips!

Source: UNIZO
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