You only want to make a decision that is worth your while and will in fact increase your business’ performance and profitability. The strategies we can offer you to improve are endless and need to be customized to your situation.
Making the right strategy choice and setting priorities will make the improvement happen. We will help you to implement the strategy and support you along the way.
To give you an idea of the range of strategies we can offer you, here are some examples;
1. Team management
Monitoring might show that your productivity can be improved. Your employees play a key role in this area of your business. Below is an example of solutions for this.
Staff training – educate your staff so they work more efficiently and continue to develop and grow within your business (decreases staff retention and improves the overall business performance)
Staff incentives – implement staff incentives that are matched to their accountability and performance. You will increase your staff’s productivity if you understand how you can motivate your staff.
2. Marketing and sales
Investing in marketing is a good strategy if you need to improve your sales. Beware; a marketing strategy goes beyond investing X amount of dollars into advertising, which will only increase your overhead costs and not necessarily your profits.
Your choice for investing in marketing fully depends on your objectives and target markets. Maybe you need to increase sales within your customer database, or you want offer a new product to open up a new target market and re-position your business.
Online media – there are a lot of online media channels available that offer low cost marketing solutions. However for them to be effective, they do require time and research.
Outsource – Depending on your time, knowledge and budget you might choose to outsource your marketing strategy to an expert.
3. Cost of sales
Strategies that involve lowering your cost of sales vary from trying to find a cheaper supplier or try and negotiate better prices.
Staff training – by training your employees your business might save on waste and errors when handling your product.
Supplier – It might be worthwhile for your business to take away a costly process by buying a near end product from an external supplier and lowering your cost of sales that way.
Eg. a restaurant might choose to buy in readymade sauces instead of the chef making the mayonnaise itself.
4. Overhead costs
In some cases it pays off to look into your overhead costs. Can you save on your electricity bills, rent or office supplies? Can you work from home? Have you invested in a paperless office? With cloud computing you can save on a lot of overhead costs because storage of files can all be done online.