I am a small business owner, with a successful bookkeeping business and I’m pretty proud of that! While I worked hard to get to where I am, I can say I have had plenty of help and support over the years.
That’s why I always try to give back; whether it’s running a race and raising money for a scholarship or volunteering my time and entrepreneurial skills to a nonprofit organization. I volunteer for an organization called SCORE, that helps small business owners through mentoring.
Just last month, I was part of a team, consisting of three small business owners and a SCORE counselor. We helped small business owner, George Hernandez, deal with a business problem.
Mr. Hernandez and his children operate Nital Trading in Miami-Dade County. The multi-million dollar business has grown so much, the family purchased a new and larger building, but has been unable to move in due to permit issues. That, plus an overdue makeover of his brand and website, had Mr. Hernandez looking for guidance. Here are some of the suggestions from SCORE, who with the Miami Herald, put together a small business makeover for Nital Trading:
- STREAMLINE OPERATIONS – While the company was waiting to move into its new building, SCORE suggested transitioning into a paperless systems, installing GPS tracking software to monitor delivery truck speed and routes, and making sure WIFI was available throughout their new building, so that employees can use their tablets and smart phones to get work done faster.
- NEW TECHNOLOGY– The Information Technology or IT Counselor suggested Nital Trading purchase inventory-tracking software and file-syncing software so employees have an easy way of sharing files. The company was also encouraged to use Voice Over Internet Protocol or VOIP phone service. So that audio voicemail can be forwarded to email addresses.
- NEW HIRES – Nital Trading brings in $22 million a year. With a company that large, I suggested hiring a full-time chief operating officer, so that Hernandez could concentrate on sales and client retention. I also suggested hiring a full-time accounting professional to do the books and produce weekly financial reports.
- REDUCE ACCOUNTS PAYABLE AGING – The best way for a company to improve cash flow is to reduce accounts payable aging. The goal is to reduce aging to no more than 30 days. In order to do this, someone must follow up with clients that have outstanding balances at least once a week.
- WEBSITE MAKEOVER – Just like the business, the company’s website needs a makeover. That would include re-writing their website to include more meta information to improve search engine optimization results. The makeover also should include making the site mobile friendly.
These are just some of the suggestions a small business could use to streamline and improve operations. Nital Trading is doing just that and SCORE and I have agreed to work with the Hernandez family until they implement a majority of the recommendations.
SCORE is a great organization with the goal of helping others. If you would like to read more about SCORE’s small business makeover of Nital Trading, or see my name up in lights, you can click on this link to read the entire Miami Herald article.
In the meantime, make it a point to give back in some way. Oh yes, and to all the Moms out there, including mine, who give so much, I want to wish you all a very Happy Mother’s Day!
