Welcome to 2009. Have you noticed how many diet and exercise commercials are on TV and the radio? It’s a proven fact that the #1 New Year’s Resolution is to slim down. And in today’s economy, this goes for businesses too.
Many businesses are going to look at their expenses and decide to simply cut out certain things. Maybe it will be an administrative employee; after all do they really need two? Perhaps their marketing director can go if someone else multi-tasks? And maybe they should rethink the marketing budget while they’re at it? Oh, and while we’re cutting costs, how about that costly web development service that keeps the website updated? Sure, all of these things can save a business money, but just like the dieter who eats only grapefruit and water, it comes with a price. Eventually the health of the business is going to fail.
So what exactly is the smart way to slim down a business? The same way you lose weight wisely…not by cutting things out, but by making wiser choices. The same way you might choose popcorn over potato chips or wheat bread over white, you can choose healthy alternatives that allow you to cut costs while sustaining the same or higher quality of business. And what are some of those healthier business choices?
1. Substitute costly advertisements in local media with a great blog and social media. It’s time to embrace the Internet as a business tool. Turn your static website into a blog site where you connect with your target market. Industry news, question and answer and news about your business are all great content for blogs. Best of all, it’s low cost marketing.
2. Substitute local computer/web development company with a freelancer. You had the only web development/computer company in town set up your network and you’ve been paying them to maintain that website they set up for you. It would be wiser to find a freelancer to maintain and/or redesign your website and use the local company for computer/networking issues that need in-person assistance.
3. Substitute a traditional employee with telecommuting or a virtual assistant. Perhaps that employee would take a bit of a cut in pay if they could work from home? And if not, there is always the option of hiring a virtual assistant. The virtual assistant option relieves your business of paying employee taxes and expenses while giving you a seasoned professional to attend to business. ( If you would like to learn more about hiring a virtual assistant, check out this e-book )
So go ahead, keep that resolution to slim down your business in 2009. Just remember to do it the smart way.
If you have more ideas for how to ‘slim down your business’ the smart way, please share in a comment.