We have all had to make some tough financial choices on behalf of our business since March 2020. We have made cuts here and there, we have cancelled big plans for the future, we have been through furloughs and layoffs, and many of us have stared down the barrel of bankruptcy and business closure. But, after nearly 18 long months, it seems like the worst of the storm has finally passed. Markets are rising and so are the job numbers. We can take a deep breath and think about where we would like our business to go, not just about how we are going to get our business to the end of the month.
We know that there’s no time to waste. We know that we can’t afford to sit around and bask in the fact that we made it through one of the most disastrous periods of the modern era. We need to keep moving forward.
And, as all business owners know, you can’t move forward without spending a little money. Now, most of us will be instinctively cringing at the thought of committing to a spend beyond the essentials after such hard time. But you need to remember that even though things are definitely better out there, it’s far from smooth sailing. Things are brutally competitive, no matter what business you’re in, as companies are slugging it out to hang onto their customers and to re-establish themselves after long closures. The trick will be, as it always is, to make sure that what you’re spending money on will actually help your business to grow. Here are a few areas that you should be making room in your budget for.
Better Security Is A Must
Let’s start with an item that no business should be without. Most bigger businesses will have their own IT team tasked with staying up to date with the latest cybercrime threats and making sure that everyone stays protected. But smaller companies don’t always have that luxury, even if they should. A lot of businesses cross their fingers and hope that having relatively new computer hardware and an up-to-date free antivirus program will keep them safe. Sadly, things have changed since the pandemic.
Cybercrime numbers have skyrocketed and we’re seeing attacks across all industries on businesses of all sizes. Not even hospitals were safe. The world went online went it locked down, but a lot of people did not take the necessary precautions. If you want to make sure that you can operate safely, and grow safely, in the rest of 2021, then security needs to be at the top of your list. This is especially important if you are working remotely, and your team is using cloud software. Talk to a security specialist if you aren’t sure how to proceed, it will be money well spent.
Good Digital Marketing Is A Smart Investment
If we are talking about investments that will help your business to grow in the coming months, then we absolutely must talk about digital marketing. This is something that a lot of businesses try to do themselves, and it is easy to understand why that is the case. Marketing can traditionally be very expensive and very easy to get wrong. There is also the pride element. Why pay someone else to tell people why they should use your business? Who knows your business better than you do?
Well, the fact is that good digital marketing is worth paying for because, to put it bluntly, digital marketing is a lot more complicated than you might think. There are so many different facets to it and so many potential different channels for you to explore. One of the reasons why some businesses end up spending so much money on their campaigns is because they have gone about it in the wrong way. And here’s where we come back to that point about understanding your business: a good digital marketing agency won’t just come in and tell you what kind of campaign you should be running.
They will want to sit down with you to learn about your business, your brand, and your personality. They will understand that you have a very good idea of who your customers are, and they will work with you to develop the best way of reaching them. They will take you through all the options available, from SEO and geofencing to display advertising and social media marketing. They will also have the experience and the tools to get you where you need to be. A Google Partner agency like this one can show you how to get a big boost in the search rankings. LNP Media Group can help you to drive customers to your business with a precision-driven campaign that produces real results.
Now Is Not The Time To Be Without A Good Accountant
Here’s one area where you may already be well covered, but just in case you aren’t: your business needs a good accountant. We have all been through an incredibly complicated time, financially speaking, over the last year and a half and we have all seen just how close to the wire our businesses can get. And, of course, one of the biggest problems we have had is that there just aren’t enough hours in the day to keep everything running smoothly while attending to each successive crisis.
Having a paid accountant on your staff will give you a tremendous peace of mind. Because it’s not just about making sure that you’re saving as much money as possible. An accountant will know about what kind of government grants and incentives that you can be applying for to give you a little boost, from manufacturing to massive tech bills. They are an invaluable sounding board for any future business decision and expansion talks. They can spot possibilities for additional revenue streams in the future, and if you are thinking about growing, you need to have that kind of security.
Think About Finding A Good Lawyer Before You Need One
Along similar lines, it always helps to have some expert advice from someone who knows the ins and outs of local regulations when you’re thinking about growing your business. Most of us don’t think about hiring an attorney until we actually need one but finding a lawyer you can trust is not a process that you should rush into. There are so many different situations where your business might need legal advice.
You might have a business dispute with a partner or supplier that could end up heading to court. You might have a disagreement with an employee that requires both sides to have legal representation. You might find yourself in a position where you could be facing bankruptcy and needing to know what the legal ramifications would be. But an attorney doesn’t just have to be there for those rainy-day scenarios. Much like a great accountant, a business attorney can advise you on opportunities for growth and expansion. Their professional network will open up new avenues for your business and help you to figure out if you’re heading in the right direction, or if now is the time to pump the brakes. Things are still chaotic out there so having that kind of protection is invaluable.
(Visited 5 times, 5 visits today)