Oz Alon is the co-founder and CEO of HoneyBook, the clientflow and financial management platform for independent business owners.
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In 2024, the movement toward independent work shows no signs of slowing down with more people reimagining their careers and realizing their dream of becoming their own boss. According to the U.S. Census Bureau, new business applications were up almost 8% in 2023, with 5.48 million submitted compared to 5.08 million in 2022.
As corporate uncertainty and wavering economic conditions continue, the ability to exercise autonomy over your work and schedule has encouraged many to go solo. In fact, according to my company's recent study conducted by The Harris Poll, more than 1 in 5 U.S. adults have considered quitting their jobs to work for themselves.
Building your own independent business can be immensely rewarding but it's not without its challenges. Starting, running and, most importantly, maintaining a sustainable business requires juggling multiple responsibilities simultaneously.
Eighty-seven percent of small businesses reported increased efficiency due to technology platforms, according to a 2023 report from the U.S. Chamber of Commerce. The bottom line: It is not feasible to run a successful business without the help of technology. Just as we expect tech-enabled solutions to solve friction in everyday life, they must also be utilized to streamline business operations and provide top-tier client service.
In a highly competitive entrepreneurial landscape, independent business owners need to continually innovate and leverage technology to both stay ahead of the competition and recapture time to focus on their core mission: serving their clients.
Automate your way to operational confidence.
One way that most businesses could likely benefit from technology is by automating tasks like routine client communication, scheduling meetings, sending files, qualifying leads and data entry. Here are a few ways that technology can help to automate these processes:
• Sending Client Reminders: Working with clients is a relationship and often you need something from them to provide the service they want from you. Sending reminders for things like upcoming appointments, recurring payments and document submission is rarely complex and doesn't need to be done manually.
• Scheduling And Invoicing: Software can automate scheduling and client invoicing, reduce operational costs, minimize manual data entry errors and streamline the client experience.
• Lead Management: Tools like AI can help to automatically identify your most valuable leads, allowing you to focus on the people who are most interested in working with you.
• Data Entry: Many platforms offer automated capabilities that can pull important information like client names and project dates from a contact form and populate it in a proposal, contract or thank you email.
Choose the right tools for your business.
Technology is constantly evolving and changing the way we work for the better. Here are some of the innovation areas worth evaluating to elevate your processes as an independent business owner:
• Automation: As mentioned earlier, almost any repetitive administrative aspect of your business can be automated to improve efficiency. From social media posting to client communication to scheduling, invoicing, billing, document management and more.
• Artificial Intelligence (AI): Advancements in AI have soared in the past year. When used correctly, it can be indispensable to help support your business. In particular, AI can help you qualify leads and then respond instantly with a response customized to that specific client.
• Clientflow Management Software: A clientflow management platform can support internal operations—like managing inquiries, creating contracts and invoices, processing payments and tracking expenses—all in one place. It enables business owners to create efficient processes and deliver a professional client-facing experience that moves the customer from discovery to payment.
• Email Marketing Platforms: Whether selling a service or a physical good, email is one of the most effective ways to reach your existing and potential clients. Email marketing platforms allow you to send professional emails to a targeted audience at the most optimal time.
Where should you begin?
With so many tools and technologies available to enhance your business operations, and more emerging every day, it can be daunting to decide where to begin. Here are some of the best steps for evaluating platforms to improve the way you work:
• Identify where technology can make the biggest impact. Consider your business operations and look for areas that could be more efficient. These are often repetitive tasks that take a lot of time or that you struggle to complete yourself.
• Remember that customization is key. Every business is unique and has a preferred way of working with its clients. Before you adopt a new tool, make sure it can be tailored to best support your particular processes and client relationships.
• Seek recommendations. AI and tools to automate business operations are becoming so ubiquitous it's likely you have an industry peer who has advice and recommendations to share. Tap into your network, like online communities or in-person events, to discover the tools that are working best.
• Enlist feedback and evaluate data. As you integrate new tools into your business, consider collecting feedback from both internal stakeholders and clients to ensure the experience is as intended. Look at key business metrics to assess whether the tool is having the desired impact.
Let technology do the grunt work.
According to my company's study cited above, 1 in 5 independent business owners admit they have lost money due to lack of organization, acknowledging the negative impact an inefficient process can have on their business success.
The good news is that 91% of small and medium-sized businesses said they are somewhat likely to consider automation and AI services in the next year to help elevate their business against competitors. By embracing automation and advanced technology, business owners can streamline productivity, differentiate their business and accelerate their growth.
Gone are the days when workers needed to sift through data, individually respond to every business lead or client correspondence, and schedule meetings manually. By using technology to automate administrative tasks, small and independent businesses can focus on their core client work and the business complexities that deserve their attention—like providing the best possible service to your clients.
It’s time every business owner embraces this shift and transforms their processes to set themselves up for lasting success.
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