October 3, 2022


Who is Business

How to Run a Paperless Solo Company

5 min read

5 min read

Opinions expressed by Entrepreneur contributors are their personal.

This is the fifth in a series of unique columns for Entrepreneur.com by Laura D. Adams that will publish two Mondays a month. And don’t neglect to order a copy of Adams’ latest ebook for Entrepreneur Push, Cash-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers, via Amazon | Barnes & Noble | Bookshop | IndieBound.

In addition to preserving trees, there are quite a few pros to running a paperless solo enterprise. Not only does paper demand from customers time to system and actual physical room to retailer, but it could contain confidential information that puts you or your prospects at possibility.  

Use these suggestions to safely start or changeover your solo business enterprise into a paperless enterprise. 

1. Opt out of junk mail

If your mailbox receives routinely stuffed with junk mail, this sort of as pre-accredited insurance policy or credit score presents, the next methods will assistance you do away with it:

  • Optoutprescreen.com is the formal web site for receiving taken off from the important countrywide credit rating reporting companies’ provide lists. It really is free of charge to decide out for 5 a long time or forever.
  • DMAchoice.org is the Immediate Marketing Association’s internet site, where you can choose out of unsolicited mail and electronic mail for a $2 charge for 10 years.

Linked: 5 Suggestions to Keep Focused on Your Financial Targets in 2021

2. Ask for e-paperwork

Each time you receive paper mail, locate out if you can change it into a digital doc. Most economical and utility paperwork — these as lender statements, credit history card costs, insurance coverage documents and mobile payments — can be turned into e-documents when you have an on the net account. 

Some organizations even offer you incentives, this kind of as waiving account charges or qualifying for rewards, when picking out e-statements and e-costs. 

3. Make on the net payments

If you are still writing and mailing paper checks, it truly is time to make all of your outgoing small business files paperless, much too. Not only are paper checks high-priced and inefficient, but a thief could take them at the sending or obtaining conclude. 

Most banking institutions provide no cost invoice spend to any company or unique with a mailing handle. The lender sends cash electronically, when probable, or prints and mails a paper look at on your behalf for free. It couldn’t be a lot more practical! Plus, you can authorize your bill spend system to receive your e-payments and notify you about future owing dates so very little falls via the cracks. 

4. Set up secure electronic storage

Your financial institutions could only present totally free obtain to on the web documents for a constrained time. Be guaranteed you have an understanding of their guidelines or potential service fees to down load paperwork afterwards on. 

If you want to store your electronic documents, it is really easy to do. You can download statements and expenditures or snap photos of receipts all through the year. 

After you have business e-paperwork, you can need to have to retain them arranged and safe. Look at location up a method on your computer with a most important organization folder and sub-folders. Use file names for your files that include things like the year, thirty day period and category, so it really is quick to obtain what you will need later on on.  

You can add a layer of defense by demanding a password to obtain your main organization folder. And often update your functioning method and safety software program to ward off cybercriminals. 

And be positive to retail outlet significant e-documents in several spots, so they are not able to get missing in a disaster or pc crash. In addition to your computer, you might preserve a copy of all your company documents on an exterior travel and a protected cloud-centered solution, such as Google TravelAmazon S3 or Dropbox.

5. Try uncomplicated scanners

The least complicated way to digitize paper documents is with a no cost scanning application, this sort of as Adobe Scan or Genius Scan. These resources have excellent functions, including multi-web page scans, textual content-recognition, editing, storage and exporting that you can manage from your smartphone.

If you have a printer, it might have a designed-in flatbed scanner nevertheless, you could find making use of a scanning app a lot more convenient. The scan applications generally combine with other apps, so you can instantaneously file e-documents in which you like.

6. Use e-signatures

There is no require to print out contracts or extensive documents to sign them. Sending or receiving e-signatures is lawfully binding and will allow you to do organization from any place. 

Attempt an e-signature application, these types of as Adobe or DocuSign, that allows you to signal documents on many functioning programs and equipment. They observe the position of required steps, encrypt data and can even store your documents.

7. Pare down outdated paper around time

If you have an place of work currently stuffed with paper data files, do not allow that continue to keep you from likely paperless. You can implement a digital procedure now and pare down or remove your previous paper paperwork over time. Sort by means of your paper data files and produce three stacks for:

  • Shredding.
  • Scanning and shredding.
  • Trying to keep and filing.

8. Know what paper to retain

Based on your enterprise, there may possibly be specified paper documents that you will need to hold, this sort of as legal files with first seals and signatures, titles to vehicles and assets deeds. If you happen to be not certain, talk to with an attorney or accountant just before tossing it. 

Take note that the IRS permits you to preserve electronic copies of tax returns, together with all supporting files. 

Connected: 5 Means to Be Far more Strategic and Productive in 2021

In addition to preserving trees and releasing up far more place of work place, going digital can maximize your company performance. A paperless program streamlines your procedures, makes it easier to collaborate with teams and increases your buyer practical experience. 

When you’ve lightened your incoming and outgoing paper load, you are going to experience fantastic about preserving time, income and hardly ever obtaining to open up up a large submitting cupboard all over again.