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The Non-Lazy Way to Manage Business Finances

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With laziness comes a lack of frugality and an increase in pointless expenses. Why bother making a super-healthy tea when you can order a Domino’s pizza and vegetate in front of an episode of Game of Thrones? Why find something free to do on a weekend when you can head down the pub and sink your cash on a round of pints for your pals?

These are the choices of a lazy person, and they’re alright on your own terms. But if you made these kind of poor decisions in the world of business, your company would sink faster than the Titanic at the sight of an iceberg.

In a business environment, poor financial planning is a death knell. One slip up will see you looking at an expenses sheet that looks more like the outgoings of a playboy billionaire than a struggling SME.

We know how difficult it can be to stay on the right side of your profit margins, which is why we’ve come up with a few tips to help you. Take a look and see how you can control your expenses.

Payslips with ease

Creating a payslip for every one of your employees is the bane of every human resources department, the kind of time consuming chore that leaves little time for much else. The actual business of looking after employees is thrown by the wayside in favour of cold calculations and taxations.

But we’re in the 21st century. Technology is progressing faster than ever before, and the game of human resources has become easier to play. After only inputting a few details into an HR program, you’ll be able to issue payslips online without your HR professionals having to lift a finger.

This will allow you to slim down your HR staff and let them focus on the jobs that really matter.

Avoid middle management

In political activist David Graber’s fantastic book The Utopia of Rules, he argues that middle management is a superfluous expense that should be kept minimal in your organisation. He uses an example of employees in a coffee warehouse in South America who overthrew its middle managers and ran a self-facilitating venture on its own. They remain a successful and profitable business.

While a few coordinators can be a good thing, allowing your employees to simply get on with their jobs can increase your profits and your staffs’ sense of self-worth.

Generally speaking, people are less likely to exploit a company if they’re given a high level of autonomy. They’ll reciprocate the trust that you’ve placed in them, and do their best to make you money.

These are just a few ideas on how you could increase your profits. If you’ve got any others, let us know in the comments below.

Last updated on June 8, 2016.

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