A good investment for your small business doesn’t always have to come with a hefty price tag. In fact, sometimes the simplest solutions can help you work better and faster in the long run.
Here are a few questions you should ask before committing to any investments in your small business:
- Will it save time?
- Will there be a return on investment?
- Will it improve workflow?
- Will it improve customer experience?
- Will it make employees’ jobs and the workplace more enjoyable?
- How long will the effects of this change be felt?
- Will this allow consolidation of tasks, roles, etc. in order to reduce waste?
A smart investment should help bring about as many positive changes for your small business as possible. Remember, this is about protecting your business now and investing in its future. A smart investment should do both.
9 Smart Small Business Investments
1. Office space
Renting or purchasing office space may seem like an unnecessary expenditure when first launching your business, but that will change as your company grows. Your best bet is to get a space that you can grow into, but that isn’t overwhelmingly large.
If you want your small business to continue running like a well-oiled machine, you need to invest in reliable equipment. Beyond that, if you’re looking at equipment to support your company’s long-term efficiency and innovation, you’ll want something like the Xerox WorkCentre multifunction printer.
3. Cloud-based software
Thanks to the internet, software no longer needs to reside on CDs or hard drives. A connection to the internet and a small monthly fee is all you need to access the app of your choice, which means you can stay productive and work on your business wherever you go. Also, cloud-based software is scalable, so it will grow as your needs change. Check out these apps for entrepreneurs if you haven't already.
4. Streamlined workflows
You may be thinking that you can’t “invest” in the work that flows through your company, but you definitely can. There are always smarter and faster ways something can be done, and your business’s workflows, whether they relate to your day-to-day processes or how you use company equipment, are no different. An investment in streamlining workflows will benefit everyone in the long run.
5. Smart devices
Smartphones are not going anywhere, which means it’s time to embrace their usage at work. Invest in the creation of a mobile device management program and encourage and teach employees the best ways to make the most out of their smart devices for work.
There’s no time like the present to invest in your business’s security. This refers not only to the physical security of your office space and equipment, but to the digital data captured by your website, software, and other company systems. A document and endpoint security management plan is a good place to start.
7. Company website
Once you have invested in the internal parts of your business, it’s time to look outward at the digital face of your company. Even if you’re running a brick-and-mortar and searching only for local business, having a high-quality website can greatly improve awareness and credibility for your small business.
In addition to a website, your small business needs to expand its presence everywhere else online. Social media is the first place to look. You’ll also want to design beautiful and informative marketing collateral that can be printed and/or shared digitally with prospective customers. By using high-quality templates, you can save yourself time in creating these and ensure consistency across the board.
Whether you are a small business owner or the CEO of a major corporation, there will never come a time when there’s nothing left to learn. Make a small investment in your professional education on a regular basis. Subscribe to industry blogs and magazines, listen to podcasts, and follow thought leaders on social media.
There’s nothing that says an investment needs to be a massive expenditure that puts your small business in the red. That’s why these small investment suggestions are “smart”. They don’t require an enormous monetary investment and yet they ensure positive outcomes for both the short and long term.
Document Solutions of Springfield is proud to be the Xerox MFP and copier technology dealer serving southwest Missouri for over 23 years. With over 35 years of Xerox technology experience, our goal is to provide the community with the latest products, solutions, technology trends & other means of information and help your company make educated business decisions.
Our job involves helping clients answer questions and find ways to achieve success by improving efficiency, productivity, and controlling costs.
Come visit our showroom at Plaza Towers at the corner of Sunshine and Glenstone, visit our website at www.DocumentSolutionsInc.net or call us at (417) 883-2416. We’re here to help!