Whenever business owners speak to me, they always start with one question. What is the most important thing I can do to make sure my company stays successful. I always reply with the same answer. You need to do everything that you can to save money. That way, you’ll protect your business in case you have any hard times ahead. You’ll have extra funds in your business accounts that you will be able to rely on. As well as this, you’ll have the money you need available when you think about expanding your company or making improvements. Yes, there is no better advice that I can give then making sure that your business isn’t paying any unnecessary costs. You might be wondering: What are the main areas of my business where I can save money? Well, let’s start with the key to free promotion.
If you need to save money for your company, there is no better place to start than by thinking about marketing. Promoting your business is a great way to increase profits but, contrary to popular belief, you don’t have to spend money to make money. At least not in this case. There are plenty of free forms of marketing that I can certainly recommend.
Firstly, you need to think about social media. Ideally, you should have a profile for your business on all the major networks. This includes Facebook, Twitter and Instagram. Can you use Instagram to your business advantage? Research has proven that the tools of marketing are changing. The most effective way to market your business is to get information shared online. In particular, getting images from your website shared is an excellent method of promotion. To do this, you should be using media accounts like Instagram and Pinterest. You should also be keeping in contact with your current customers on accounts like Twitter and Facebook. You can start discussion pages on Facebook or release new updates on your company, using Twitter. If you want to grab the attention of other business customers, try retweeting that business with the source. This is one way that you can grab the attention of their customers.
Other free forms of marketing include free publicity. Essentially what this means is that if your business is going to be doing something that is interesting to the public, alert the media. That way, you will get some publicity for your business without paying for it. It doesn’t matter if it’s just the local newspaper that is interested. If you can grab their attention, you’re sure to find some new customers.
Lastly, it’s important to mention personalised merchandise. This isn’t quite free marketing as you will need to pay the first fixed cost to make the products. But once you start selling this merchandise or giving it away for free, it’s a form of advertising that pays for itself. You just need to make sure that your merchandise is stylish and attractive. It’s important that customers do want to wear it or use it in public.
Avoid Legal Costs
How much could an AI claim cost your business? Experts believe it could be up to five hundred thousand dollars. In fact, industries in the UK have been inundated with PI claims and the same could happen to any American business. The best way to avoid this to keep up to date with health and safety regulations. To do this, you should keep all your employees trained to the best possible standards. If they can recognise a health and safety hazard and deal with it effectively, your business should not face these types of claims. You can find more about these types of issues and how to handle them at employment law seminars and events.
However, you should also make sure that your business has the proper legal protection for these types of issues. I recommend that you get business insurance including generality and workers compensation. By doing this, a business worker will not be able to start an AI claim. Any legal damages will be paid for by your insurance company.
You may also find that you face a different legal issue from an employee that is not a physical injury at work. This could be an emotional distress claim or a case of harassment. Emotional distress claims are one of the hardest cases to win. But you still do not want to find your business facing one. You must hire effective legal counsel who can protect your business and advise you on key issues.
Easy Being Green
One of the key issues affecting the world today is the overuse of energy. This problem is particularly prevalent in some of the biggest international companies. But even smaller businesses need to think about how they can save energy. In fact, it might be even more important for smaller businesses. A smaller business may not be able to afford higher energy bills. There are a number of ways that you can start to think about saving energy in your business.
If you are running an office, I do suggest you price check your energy provider. You might find that there is another company that can provide you with better rates than the one you are on now. However, you will have to wait until the end of your contract before you can consider switching.
You might also want to think about using a renewable energy source for your company. You can consider paying the cost of installing solar panels on the roof of your company. This saves you a lot of money in the summer months, and it will add to the image of a modern and successful business. Clients are starting to take note of companies that care about the environment. You may find if you invest in this type of change, your company sees a dramatic increase in interest.
I hope you understand how useful these steps could be to your company. They will help your business save money and will put you in good stead for your company’s future.