We’re not sure if our readers are aware of this, but the economy could be heading for a tumble. There were already signs of this yesterday after the results of the US election were finally announced. The world market dived down as investors started to panic. Now, the good news is that everything stabilised and the horror scenario some predicted didn’t happen. But, if we’re playing devil’s advocate it could still occur further down the road. So, now might be a great time to tighten the belt buckle and trim the fat right down in your business. Here are a few ways you can do just that.
Sell The Office
Our first suggestion is that you consider selling the office if you’re still working from one. A lot of people have already embraced the home run business model and found plenty of success. There were once fears that home run businesses would never work. But technology has changed the game quite a lot since then. Indeed, it’s true to say that it’s possible to function from home as you would from a major city office. You do need to invest in the tech but once you have that your business can run like a dream.
You might worry about what happens when your clients find out that you’ve downsized. Well first of all, who’s to say they have to find out? It’s entirely possible to switch to running your business from home without ever telling the clients. You can do this with a service like yourcompanyformations.co.uk – registered office address service. With this service and others like it on the market, you can make it look like your business is run from a large central city office. Clients will never know it’s being run from home. Since you’ll be cutting the costs here, there’re a few other ideas we’d like to introduce.
Cutting Down Staff
These days, it’s easier than ever to run a business with a smaller office staff. You can do that by investing in outsourcing. With an outsourcing company, expensive areas of your business can be handled out of house. An example of this would be marketing. Rather than investing in the services of a full marketing team, you can instead hire a company for a fraction of the cost. You still get a great service without the added paychecks added onto your bills.
You may also want to investigate the possibility of automation. With automation, you don’t need any employees at all. Instead, everything is handled by machine and mechanical processes. This is a possibility when setting up customer service communications within your company.
Lastly, since you might now be running your business from home, you may want to consider going digital. You can get digital replacements for things such as file storage. Digital storage is often seen as the better choice as it is more secure and easier for big and small companies to use.