2020 may have been a turbulent year for most — but it isn’t over yet! There is still time to use the rest of the year to make progress, bring value to others, and grow your business.
Whether you are looking to expand, revamp, or cut costs, these five ways to upgrade your business below will stand you in good stead. With one or all of the tips, you can help to ensure that your business is functioning optimally even during trying times, and that you can ‘hit the ground running’ by making real progress as soon as the opportunity arises.
Read on to get started today!
Invest In Your Skills
Now is a great time to invest in upgrading your skills, and those of your workforce. Whatever your budget, you can find a solution to suit you.
Whether investing in an online course or official certification, or simply resolving to read more books or tutorials on the topic, education should be a lifelong process and will always benefit your business.
Why not look into a reputable online learning platform such as Skillshare or Udemy, or professionally accredited courses in your industry? If you are experiencing a lull in business, or have more time for another reason, education ensures your days are positive and productive.
Upgrade Your Equipment
Well-worn business equipment and technology can easily become slow and sluggish through overuse. But the consequence is that processes can start to become slow and sluggish too.
If your budget allows, regularly upgrade your equipment to ensure that you are getting the best value and performance — whether from your phone, computer, software (remote worker monitoring software) or more. Don’t forget to include other items that you may use daily for business too, such as a car.
If you can’t upgrade your vehicle, then regular servicing and maintenance is a great way to help ensure its longevity, and performance levels.
Outsource Your Bid And Tender Services
Like many businesses across a range of industries, perhaps your business needs to identify open tenders and opportunities, then prepare applications and bids for them.
Some businesses are not aware that this process can be outsourced to bid and tender service professionals, but this can be an important investment. Some of the best bid and tender service companies have won their clients millions in additional revenue for their business.
You may consider making use of bid and tender services to boost your business and win more work. Alternatively, if your business doesn’t make use of bid and tender services, consider other ways to outsource and improve your processes — such as through social media marketing, advertising, or other forms of outreach.
Perform An Audit
The start of a new year is a popular time to take stock of your business and undertake a complete overhaul. But the middle of the year is arguably even better.
You can start afresh having already identified what has worked well since the new year, and what needs improvement, while you won’t lose those early months to long auditing processes and reviews.
A mid-year review or audit can help to identify the strengths and weaknesses in your business, empowering you with the knowledge to make impactful changes.
You can perform your own audit, looking carefully at individual areas of the business and how they are performing, or enlist the help of an auditing professional. This can be a great way to gain fresh perspective, as well as an objective, thorough understanding of your overall business.
Build Your Network
There has perhaps never been a better time to reach out to others. For many people around the world, 2020 has included a long period of isolation and lockdown which has made interaction and connection difficult. But as that period starts to shift, it can be a great time to emphasise connection — both personally and professionally.
In your business, this might mean attending more networking events, or joining online platforms and communities within your industries. You could attend a video conference, or reach out to businesses and local entrepreneurs you admire, with ideas on how to support each other.
With a creative approach, where you first think how you could offer value to those with whom you network, before requesting anything from them in return, you can build a strong community from scratch. Not only is this a great way to expand your reach, and learn from others, but it can also provide an essential support network during future challenging times.
Together, you can help other businesses to survive and thrive, and they can do the same for you.