GUIDE: How To Get Your Business Organized

GUIDE:How to Get YourBusiness Organizedto Reach its Full Potential

Table ofContentsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Section 1: Tools & Tech . . . . . . . . . . . . . . . . . . . . 4Section 2: Work/Life Balance . . . . . . . . . . . . . . 8Section 3: Tax Tips . . . . . . . . . . . . . . . . . . . . . . . 12Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Author Bio (Darian Kovacs) . . . . . . . . . . . . . . 15How RBC Can Help . . . . . . . . . . . . . . . . . . . . . . . 15

Introduction3IntroductionSince starting my company 7 years ago I know that organizing your ownbusiness is no easy feat! Between long hours, tight budgets and a to-dolist that feels like it never ends, it’s easy to feel overwhelmed. If you’rejust starting out or looking to grow your existing business, without goodorganization, success can elude even the most determined owners. To helpyou on the way to achieving business success, this guide from RBC covers thethree critical areas where business owners should focus on getting organized:Tools to get yourbusiness organizedIn the early days of starting my own business,I found it difficult to find the right balancebetween my professional and personal life.Without the right tools to keep me organized,my time was being spent inefficiently, despiteworking around the clock.Logistical hurdles, like hiring and retainingemployees, managing cash flow and obtainingnew customers, take time away fromgenerating sales. Thankfully, implementing theright tools and technology not only saves time,but can also help your bottom line too.Organizing for work/life balanceAs a business owner, you likely work fromthe time you get up, until right before you goto sleep. You also probably can’t rememberthe last time you had a real vacation. Asa result, the journey may feel difficult andlonely. Through sleepless nights and dayswhen you feel like giving up, it’s important torely on the available resources along the way.Organization can help you avoid burningout, even when it’s tough to completelydisconnect from your business.Organizing your business’ taxesTaxes are a natural part of business andshould be factored into strategy andprojections from the get-go. If you neglect toinclude relevant taxes when crunching thenumbers, the repercussions could negativelyimpact your business decisions later.Educating yourself on the taxes applicableto your business can allow you to prepareaccordingly and can even help yourbusiness. Small businesses in Canada are amajor economic driver, and as such, thereare certain tax benefits that may help youmanage your business. You can read more inthe “Tax Tips” section of this e-guide.One final thoughtA word of advice from successful businessowners: don’t become complacent. There’salways room to improve and grow yourbusiness. If your lack of organization leads toyour neglecting to stay on top of things, yourcompetitors may take advantage of that.There are plenty of ways you can organizeyour business to achieve its full potential.If you’re just starting out, there are ways toorganize your efforts so you gain tractionand hopefully start turning a profit. Nomatter what stage your business is at, thise-guide contains lots of suggestions toimprove your organization!Entrepreneurship can be challenging; noone will argue that. But, if you lean on andutilize the resources available to you as aningredient to your success, your businesscan be more rewarding than you could everimagine! So, what are you waiting for? Let’sget started!Darian KovacsDarian KovacsFounding Partner, Jelly Marketing

SECTION 1Tools & Techto Keep YouOrganized

Section 1 Tools & Tech to Keep You Organized5Five Easy Stepsto Digitize Your BusinessWith the technology available these days to help you go paperless, it’s agreat time to look into digitizing your business. Not only can it help youreclaim your office space, but it may also help save you time and moneywhile reducing your carbon footprint. What’s not to love?1. Move Your Operations OnlineDo an audit to see where your company isusing paper, and find ways to transfer thosebusiness operations online or to a companyintranet. That may mean scanning recordsyou use regularly and keeping recordsdigitally in the future. You can also facilitateteamwork by using software like Basecampor Slack that allows teams to sharedocuments electronically and collaborateonline — cutting down on the need to printout meeting minutes or other documents.2. Switch to Paperless BankingIf you still receive paper bank and creditcard statements, then you can easily switchto eStatements. You can also benefit fromusing online banking rather than going intothe branch to make payments and receivefunds — cutting down on paper receiptsand confirmations. Finally, pay youremployees using direct deposit in order toreduce the paper involved in printing outand mailing cheques.Worried about security?Most banks have advancedencryption software andwill guarantee your onlinebanking security3. Choose PaperlessCash ManagementRequesting paperless statements or billsfrom all your suppliers and service providersis an easy way to cut down on paper. Youcan also start providing e-invoices ande-receipts to your customers. You can alsostreamline your payment and invoicingprocesses with help from your bank, signup to have certain expenses automaticallydebited to cut down on paper processing,and use their technology to help you digitizeyour cash flow management.Any process you can automatewith software saves you timeand allows you to focus onother parts of your business.4. Communicate withClients ElectronicallyInstead of mailing invoices or makingcustomers print out contracts and sendthem back to you, consider using e-formsand digital customer management serviceslike Wave.5. Optimize Your ProcessesEvery company has one or two paper-basedprocesses you do because you’ve alwaysdone them that way. While you’re digitizingyour workflow, evaluate all your processesto figure out how you can cut down on anyduplicates or inefficiencies. Make sure toschedule periodical reviews to continuestreamlining and evaluating your operationsto make more processes digital in the future.

Section 1 Tools & Tech to Keep You OrganizedFive ToolsGuaranteed to Help Any Small Business OwnerBetween long hours, tight budgets and a to-do list that never ends, it’seasy to feel overwhelmed. The good news is that developers continue tocreate tools to help you run your business more efficiently.1. Google AnalyticsIn today’s connected world, it’s imperative for businesses to optimize online and social mediato maximize marketing, attract new customers and build loyalty.One of the most popular ways to do this is with Google Analytics, and the free GoogleAnalytics mobile app allows you to view data on the go, including where your traffic comesfrom, and even the gender and age of your visitors. This can help you identify how well yoursite attracts your target customers, and uncover potential new markets.2. Wave Invoicing & Accounting SoftwareMoney matters, especially cash flow, may lead to a business’s failure. Royal Bank of Canadahas partnered with Wave, a cloud-based financial management provider to simplify and assistbusinesses with money matters. With one simple sign-on experience from RBC Online Bankingfor business, Wave helps businesses stay on top of accounting, customized invoicing andreceipt scanning for free.3. Microsoft Office 365If you’re like many small business owners, you wear many hats — and struggle to find timeto get everything done. The Microsoft Office 365 mobile apps can help you maximizingyour productivity securely. you can share and edit Word, Excel and PowerPoint files from yourfavourite devices — whether you’re working

Since starting my company 7 years ago I know that organizing your own business is no easy feat! Between long hours, tight budgets and a to-do list that feels like it never ends, it’s easy to feel overwhelmed. If you’re just starting out or looking to grow your existing business, without good