If you had to have a choice between having money or not having it, which would you choose? If you’re reading this article, the chances are that you want to make more money. With 2016 being the year in which many businesses ceased to exist, including high street favourite BHS, what can you do to ensure that your business stays profitable, and only makes good investment choices? Here are three investments that your company could, and should, make to be sure that 2017 is your year.
Know the importance of conference calls, and spend wisely
Conference calls are a big deal in business. They quickly give you the ability to communicate with almost anyone across the world, be it a business partner or a potential client. By simply arranging a time to meet, you can discuss all issues and ideas without any extra travel or business costs, with both of which being a potentially significant drain on your company’s funds.
However, how do you know which service or provider to choose? If you’re investing any money at all, surely you want to make sure that you get the best deal, one which is priced low and accompanied by great quality? Ideally, you want clear conference call services for efficient business communication.
One company offering conference call services for efficient business communication is Planet Numbers. A business based in the United Kingdom, Planet Numbers offer affordable prices on local or worldwide conference calls, often charging just the price of a standard local call.
Of course, when looking at putting money into an aspect of your business, you need to make sure that you know exactly what is that you are after. Knowing which locations your calls will be made to, how many people will be involved, and the added features that you are given are integral to making an educated and well thought out decision; this is where Planet Numbers comes in.
Each location is priced differently. For example, a call to Ireland will not be charged at the same rat as a call to Belgium, and a call to Belgium will be slightly different to a call to Thailand. That said, with the prices starting from just 7p per minute, per caller, in addition to the phone provider’s access cost, it is a tech savvy way of saving money that could have otherwise been spent travelling to meet clients or fellow workers. Just type in the conference number and enter the online room with the fellow callers. With that financial drain taken away from you, you’ve more money to invest in other aspects of your business.
Know your market and make yourself known.
Marketing is huge. Marketing can take a product or business from an unknown into a global success. A prime example of this is Nike. Nike took its sales from $142.9 million dollars in 1988 to over $32.6 billion last year, all thanks to three little words: ‘Just Do It.’ The short and catchy slogan led to a rapid increase in sales, igniting a want within the American nation to put on a pair of trainers and, as the proverb states, to ‘Just Do It’. Those words now have a worldwide appeal, cementing Nike as one of the most profitable businesses in sportswear.
So what can your business do? Investing in marketing to increase your company’s sales and sense of brand is one of the wisest investments that you can make. Raising your company’s profile on search engines and creating an identity are just two components that a worthwhile marketing firm can bring straight to you. Best of all, you can just watch it all happen.
Finding a marketing firm that best suits you is important. You want to find a company that is malleable and willing to fit into your business’ voice, or even to create one that is fitted to your liking. Building a brand for you is the easy part; getting rid of the image takes far more doing.
If you want to invest into a marketing company, ask to see prior work. If they can show you substantial evidence that they will do everything they can to boost your profile, then they may be worth consideration. With many companies offering different options, it’s worth going online to see which best suits you and your price bracket. If successful, you could see a massive spike in your business.
Keep your employees happy
This isn’t quite as simple as it sounds. As you know, a happy team is a helpful and hardworking team… but how can you make sure that your employees fall into this group?
Doing something with the entire workforce can aid in improving your company, even leading to an increase in productivity. Team members who have not previously had much interaction may realise that their strengths lie within working with each other. Previously shy, though good workers, may gain the confidence to push for more within the business. Your employees could end up recognising that you see them all as individuals, rather than just a member of your team.
Psychologically speaking, the benefits of team building workshops and exercises are immeasurable. Not only will you be able to see new characteristics within your employees, such as previously unearthed leadership abilities, but they will in themselves feel more optimistic about the working day. You may well see an increase in morale and stronger relationships within the working environment.
Unfortunately, the easiest way to get the most out of your employees does come at a cost. At the very least, it may involve paying for the activity. At the most, you may have to take a half day/ a day out, losing out on any income you could have earned in those hours. It varies between individual businesses and inevitably is your decision to make. However, if you invest in your employees, they’ll most likely reward you by devoting their time back into you and your company.