Let’s talk about investing in your business. You might think, “Wait, I’m already doing that, aren’t I?” There are many more investments to make to ensure future success for your company than just time and money.
#1 Capital Expenditures - This is a crucial part of pushing your business forward each year. Do you have a major problem on your factory floor? Would investing in a new piece of equipment improve your workflow.? What about something simpler like upgrading your sales force’s computers or offering new tablets to help them on sales calls? Don’t forget that capital expenditures can pay dividends for you and your business in the short term and long term.
# 2 Investing in People - One of the most important ways you can move your business forward is by making an investment in your team members. Consider adding extra paid-time-off next year. Do you provide regularly scheduled feedback opportunities? What about training opportunities? Are you allowing your employees enough room to grow as you scale your business?
# 3 Invest in Your Marketing - Whether it’s as cost-effective as starting and maintaining a social media account to promote your business or as in-depth as hiring a web team for a complete website overhaul, marketing can be a make-or-break for your business. You’d be surprised how many potential customers, investors, or even suppliers will check your web presence prior to doing business with you. Make sure that you are putting your best foot forward and not letting any opportunities pass you by.
# 4 Invest in your Environment - It’s one thing to provide the tools needed to get the job done and a positive work environment, but what about where the work physically takes place? Are your offices as good as your service, products, or team morale? Investing in real estate or improving the daily life of you and your team members can make positive waves within your company.
We know how daunting implementing all of this can seem at times - that’s why Scandia Partners is here as a resource for our businesses. Contact us to learn more about how we can help your business today.