New financial year time-saving hacks for small business owners

Summary

Take the new financial year as a fresh start to take control of your time and create more work-life balance for your small business. This article includes tips from small business owners to learn how to delegate tasks, embrace digital tools, set clear boundaries, streamline jobs and use quiet time effectively.

Small business time savers

The life of a small business owner can be a wild ride of passion, perseverance and occasional chaos. As the new financial year rolls in, it’s the perfect moment to pause and ask yourself: Do you run your business, or does it run you? If you’re finding yourself constantly racing against the clock, it might be time to shake things up and reclaim your schedule. We asked five small business owners how they manage their work-life balance with their business, here’s how they do it. 

1. You don't need to do everything yourself

Ben Campbell, co-owner of Sydney bar Chuck Trailer’s, relies on his business partner to share the load. “It always helps to have second set of eyes, but having someone to lean on has been the easiest way to navigate the hardest moments.” 

Abby Locke runs The Tiny Studio, a kids’ craft workshop business based in Tamworth, and tries to remember that it’s okay to seek help. “Accounting has definitely not been my strength, and I felt embarrassed that I didn’t know more, like I was failing at a part of my business I should’ve had under control,” she says. “But it’s okay to not know everything and it’s okay to ask for help. Now, I’ve found a kind and understanding accountant who actually teaches me as we go.” Handing over tasks – like accounting – to experts can free up your time and reduce stress. “For the first time, I’m going into tax time with no anxiety and a bit of confidence!”

Try this: Identify tasks that you find challenging or time-consuming and consider outsourcing them. Whether it's hiring a freelance bookkeeper or a virtual assistant, getting expert help can save you time and mental energy.

2. Embrace the digital revolution

Michelle Brindle (pictured) from baby sensory brand Young Wonderer swears by an accounting software like Xero, which links directly to her AMP Bank Everyday Business account and automates expense categorisation. “You can set up rules to automatically categorise your expenses, which saves so much time.” Michelle also uses an online calendar to schedule all her appointments and important dates. “I rely heavily on Google Calendar – if it’s not in the calendar, I’ll forget it!” Embracing digital tools can simplify your processes and keep you organised year-round, ensuring that the end-of-financial-year chaos becomes a thing of the past. 

Try this: Explore software tools that can automate repetitive tasks, such as invoicing, expenses, scheduling or social media management. Take advantage of free trials to find the best fit for your business needs.

3. Set boundaries and stick to them

Setting personal and professional boundaries is crucial for maintaining work-life balance. Paige Montgomery started Poppin Picnics, a pop-up picnic event business across Sydney and manages her time by setting ‘business hours’ for herself. Abby from The Tiny Studio takes a similar approach: “I remind myself that although people can write to me at all times of the day, I’m not required to respond to a message at 10:30pm at night.” Establishing clear boundaries helps you recharge and enjoy personal time without guilt.

Try this: Define your work hours and communicate them clearly to clients and staff. Use tools like email autoresponders to manage expectations when you're off the clock.

4. Streamline nearby jobs together

Rob Shennan owns R&C Electrical, doing electrical work in the Macarthur region as a side hustle to his job working in the mines, so needs to make sure he uses his working time effectively. “I try to batch jobs in the same area to save travel time.”

During the peak summer season, Paige finds herself juggling multiple events with her picnic pop-up business, and has also found success in grouping jobs geographically. “In summer, there are so many opportunities to book events, often with clients requesting the same start times for their proposed events. To tackle this, I’ve learned that focusing on set locations within a small distance helps me optimise my schedule without turning down work. I can reduce travel time and produce more events efficiently in a shorter timeframe.”

Try this: Plan your schedule to minimise travel time. Use mapping tools to cluster appointments or deliveries in the same area on the same day. Even if your business doesn’t involve you getting out to locations, schedule similar tasks together, like mailing parcels at the post office, for one specific time of day.

5. Use slow periods to focus on getting new business (or taking a break!)

Michelle from Young Wonderer suggests using quiet periods to focus on business growth. "I always reach out to potential stockists on Mondays, as it’s a quieter trading day and I'm more likely to reach the store owner or buyer.”  

On the other hand, Paige from Poppin Picnics uses her slow periods to book some time off. “I schedule annual holidays during the off-peak season, so I can recharge without worrying about missing peak business opportunities.” 

Try this: Use slow days to your advantage, whether that’s reaching out to get new business, focusing on your learning or simply taking time off.

Implementing these time-saving hacks can lead to a more balanced and productive work life. Remember, the goal is to run your business, not let it run you.

Looking for more helpful small business advice? Read tips on how to grow your small business, and how small business owners achieve success after failure.