With 2014 almost here, small business owners who are looking to get a jump on the new year are knee-deep in their planning stages for January 1st and onward. While it’s important to look back on what worked (and how you might be able to streamline it), it’s also crucial to consider investments you can make that might serve to take your business to the next level. You’ve got to ensure that every dollar in your budget has a job, which means paying close attention to what types of investments you allocate your money towards. Making a short list of necessary investments can help make this easier.
Every business is different, which means each has its own set of necessary investments to adhere to each year. As a whole, however, there are a few examples that businesses in practically every industry stand to benefit from.
1. Security System
The security of your business is something that should never be overlooked, yet so many business owners are content with operating without a security system. Some believe that because they live in small, community-oriented towns or cities that they’re immune to robbery.
Take a look at the facts, though, and it’s clear this isn’t the case. Consider Henderson, NV for example. Voted one of the best places to live in the country, but home to over 3,000 robberies in 2012 alone (according to ADT alarm systems in Henderson). No matter where your business is located, you owe it to yourself to install a high-quality, modern security system. The right security will not only allow you to rest easy knowing that you’re protected, but could help to mitigate losses that might otherwise put you out of business.
2. New Computer(s)
Sticking to a budget and outfitting your office with new technology don’t typically go hand-in-hand, but it’s one of the better decisions you can make in 2014. Succeeding in business is all about increasing your productivity, and there’s no better way to do so than to ensure that your computer system is modern and updated. Depending upon how many people you have working for you, upgrading your computer system might be a very costly situation. If it’s just you or a small staff, however, you may want to see if you can fit this upgrade into your budget. It’s a rough financial hit at first, but a purchase that will pay for itself as time goes by.
3. Outsourced Marketing
There are countless products that you could invest in to improve your business in 2014, but what about services? Without a doubt, one of the best things you can do for your business is invest in outsourced marketing. Unless you have an effective in-house marketing team, you’ll benefit dramatically from passing the work off to a professional agency that can help to build your brand and gain market exposure for your business. Marketing can be costly, which is why many small business owners shy away from outsourcing. As with purchasing a new computer system, though, you’ll be making an investment that will pay off in the long term. Without proper marketing behind you, it’ll be exceptionally difficult to build a customer or client base. Outsource the work to a group of professionals, and you’ll be one step closer to gaining exposure.
So use the new year as an excuse to take a closer look at the types of investments you’re making for your business, and don’t be afraid to switch things up!
