3 WAYS NOT TO WASTE YOUR TIME AND EFFORTS

Time is a precious commodity. If you are now working remotely and saving minutes or hours each day that you don’t have to commute, it’s still important to make every minute, and every dollar, count.

As business owners, we know that certain business goals are commendable, but often our efforts to see them through may be worthless. Identify actions that use up your time and that drain your energy without real productivity.

Here is an update from a previous blog that identifies 5 actions you should not take, and better ways to achieve the desired results.

1. Making inaccurate estimates

When you’re giving a quote for a job, you have to estimate how much time and materials you’ll need to complete it properly. If you give a bad estimate—one that falls short of the actual costs for doing the job capcutstory.com customers may perceive that you’re not trustworthy. You’ll wind up losing money or a customer, which is not your goal.

2. Charging customers for breakage

If you have a bricks-and-mortar store, posting signs such as “you break it, you buy it” warning shoppers of their obligation to pay for items they accidentally damage or break may not be worth the paper they’re written on.

To recover your loss, you’d have to sue and probably wouldn’t collect—an accident is merely a cost of doing business. Of course, if a remorseful customer offers to pay for the damage, accept it gladly.

3. Charging interest for late payments

If you send invoices for goods shipped or work performed and aren’t paid on time, you could put a note on the invoice that there’s 1% late charge. But don’t bother; I’ve never heard of any customer paying the interest.