Every business has fat to trim and overheads that can be turned into profits through smart decisions and investing in the right resources. Here is our top five list of ways that you can improve your profit margins and your public image by making smart investments
1. Ergonomic Office Supplies
Ergonomics are the ‘human elements’ of any structure or process and the right equipment can streamline tasks. Some equipment your business can benefit from investing in is things like ergonomic chairs and desks that are designed to support a person physically or technology that is safe and supports quick and efficient work. For example intuitive
technology and up to date equipment like computers and Commander Centre Business Phones. These things will ensure your staff can work as efficiently as possible and will stay healthy and pain free as possible (especially for those who work in an office environment the majority of the time).
2. A Crack Team
You can invest in your team in a number of ways, you can treat them well, offer competitive salaries and benefits, and hire well trained and experienced people. All of these things will help your business thrive. Treating your staff well and offering competitive wages will ensure your workers are happy in their job and they will be more motivated to perform well and be more loyal to your business. People that experience job satisfaction will also be less likely to seek alternative employment and this will save you money in the long run.
3. Clever Advertizing
For your endeavours to be successful, people need to know that your service exists. Advertizing is a smart way to let people know who you are and what you do. You should advertize using a number of mediums such as radio, television, online and in print. This will ensure you reach a larger number of consumers from all kinds of demographics. You should also create advertising that is aimed at specific groups of people. The same ads will not catch the attention of 15-20 year old girls and 225-30 year old men so multiple versions of ads will be far more effective than one blanket approach.
4. Reduce Waste
Reducing waste is a great way of saving money and it can also improve your businesses reputation with consumers and the public. You can reduce your waste a number of different ways:
- Cutting your carbon footprint by reducing electricity use. You can do this by using energy efficient technology, having lights that only come on when people are present, ensuring your electrical supplier uses alternative energy sources, etc.
- Buying reusable equipment
- Using eco friendly cleaning supplies
- Reducing paper waste by utilising computers and the internet
- Being frugal with the consumption of your establishment
- Only ordering what you need, and not overstocking equipment and supplies.
5. Upskill Your Workers
Don’t just hire new and more expensive staff when you can upskill the workers you have. Investing in your staff in this way will boost loyalty, and make more efficient workers. They will perform their duties to a high standard and will be able to work faster and smarter. This will again lead to less staff turnover and thus save the company money in the long term. Hiring new people costs money because of the advertising process and also the time it takes to find, interview and train potential new staff.
These are just some of the strategies that will yield fantastic results when a little time and money is put in. We hope you can find greater success in your business by employing some or all of our tips!