WOMEN LACK TIME FOR BUSINESS ORGANIZATION

By Frances McGuckin

For years I have been under the misconception that women in business are astute and dedicated organizers who are well in control of their financial situation. Now I am doubting this statement and realign my thinking. On talking to many women in business, I am discovering that many are not organized and in control of their finances and lives anymore.

To back up this rather bold statement are the number of women I have come into contact with who are still filing taxes for previous years, let alone being organized and ready for the current tax year. At a recent seminar I presented to over 100 women, the question was asked: "But why aren't you organized? Tell me." The unanimous answer was "We have no time to be organized."

Being a woman who wears many hats during each day, I relate well to this problem. A woman's role in society has radically changed over the last few years. Many work full-time and part-time jobs as well. They also have family and voluntary commitments. Those running a sole proprietorship business are responsible for nearly sixty different jobs, and this is where women get bogged down.

Many operate their businesses on a shoe-string budget and look for ways to save money. To grow a business and keep financial control, a budget should include funds to hire help. This can be for time-consuming office chores, running around, shipping, sales and marketing. It is important for business owners to identify their strengths and weaknesses and what they do best to grow their business.

If paperwork and bookkeeping are a time problem, the wise move is to hire someone to update the bookkeeping monthly. The results can then be reviewed without letting go of the financial reins. Women still like to think that they can do it all, but they can't. Something has got to give, and usually it's the business. Potentially profitable and viable businesses often grind to a halt or just putter along as the owner burns out and loses interest. Engaging help lifts a tremendous burden and allows the owner to focus on forward planning.

You don't have to hire someone full-time. A few hours a week makes a tremendous difference to a business, and many young people or mothers are looking for that little extra income. Women have to let go of the super-mom image and admit that they can't do it all anymore. The same applies to family life and chores-delegate extra chores to children and spouses and ease the burden.