When people think of spreadsheets, they may picture complicated grids and cells that require difficult formulas. This, however, is far from the truth. We discuss five ways to use spreadsheets to save your business both time and money!
Track Your Expenses
Knowing where your money goes is key to maintaining and driving profit for your business. One way to keep track of your finances is to use a spreadsheet. Make columns in your spreadsheet software tool for the following:
- Type of Expense
- The Date
- The Budgeted Amount
- The Paid Amount
- The Amount Leftover
The most important component to creating a budgeting spreadsheet is to keep up with it! Make sure to input any debits and credits at least once per day.
Create a Mailing List
Many types of software that collect user information, including email addresses and phone numbers, can be programmed to input collected data into the spreadsheet of your choice. This is a great way to collect potential customers’ information en masse and use it to send out a mailing list or newsletter. This ensures you make another touchpoint with the current, previous, and potential customers who have already engaged with your business.
Standardize Information with Other Software
Many spreadsheet software tools contain programming that ensures they align with other software tools sold in their suite. Microsoft Excel, for example, often works seamlessly with other software programs in Microsoft Office, including Word.
Using one spreadsheet tool, therefore, can save your business time and money in the long run since most of the automation is already done for you.
Create and Manage Invoices
Most business owners would say that getting paid is the most important part of keeping their doors open. In order to manage income properly, creating an invoice template is key.
Many spreadsheet tools are beneficial for this. Microsoft Excel, for example, has an invoice template that makes it easy for business owners to bill clients.
Reduced Expenses from Other Programs
Every day, business owners hear of some software tool or another that promises returns of high productivity and efficiency (after the investment of an initial start-up fee or monthly subscription). What many business owners do not realize, however, is that sometimes going back to basics is the best strategy.
When business owners master spreadsheet tools, rather than buying and using a plethora of productivity tools that may not be specialized to their business or industry, they end up saving themselves time and money in the end.
Commit yourself to learn and master one tool, and the returns will be great.
What Are You Waiting For?
Nearly every computer has easy access to a spreadsheet tool built into its operating system. If not, Google Sheets is also a good alternative when getting started.
The sooner you get started using and mastering spreadsheets, the earlier your business will see results!