As a business owner you need to manage your time on your own. Handling a small business means you are your own manager and employee. Your duties includes inventory, business plan making, and thinking of ways to improve your business. With all these duties you have to know well how to properly manage your time. It may be hard because your store is not just your priority; you also have other things in your timetable especially your family. A small business means you lack people, because sometimes it’s just you. One part of your duty that makes it hard is keeping track of the financial flow of your store.
The financial flow of your business should be well tracked. This will help you to know if your business is improving or not. One factor that you should consider is that your inventory is well updated. The inventory contains what your store sells, what were already sold, and it is where the stocks of your store are listed. If you are having a hard time keeping track of your inventory because of other matters that are not related to your business here are three advices on how to be consistent on keeping tabs on your inventory.
Download a Mobile Inventory App
To be sure and consistent on keeping track of your inventories think of something that you can bring anywhere. Your cellphone is a tool that you can use to track your inventory. Just search a mobile app that can help you audit your inventory everyday.
Keep All The Records Since Day One
Organize your records well. Keep a folder or container where you can put every inventory records. Place it somewhere where you can easily find it. Label it with the date of the record to access information with no trouble.
Don’t Forget to Update Everyday
Procrastination is not an option. Update it everyday, if you tell yourself to just update it tomorrow then you’ll just slack off again and again. Before closing your store do the inventories like a daily homework.
Knowing Your Financial Flow Makes Everything Easy
Checking your financial status everyday will help you know what stocks should be supplied and what should not be kept. This will inform you what changes you should do with your business. Keep on tracking it everyday, it is your business, it is your responsibility.