As the leader in your organization, your first order of business in welcoming the new year might be regaining momentum, especially with the continuing uncertainties and challenges of Covid-19. If the last two years taught us anything, it was that small and medium-sized businesses (SMBs) need to adapt with the times if they want to stay relevant.
Proximity restrictions drove all of us to evolve and figure out ways to retain our clientele without dealing with them face-to-face. Online business transactions, environmental consciousness, telecommuting, shifting talent pool, purposeful enterprise, and the “metaverse” vision are among the important concepts shaping our digital transformation. In this new ecosystem, are you wondering how you can optimize your business processes and stay ahead of your competitors?
This blog post offers food for thought and interesting new ideas on where you can take your business.
1. Outsource your business processes for scalability.
The way we work is evolving! There has never been a better time to hire the best employees to work remotely from just about anywhere in the world. Here are a few of the benefits you’ll get from scaling your employees to your business needs:
- Work with the best people possible.
- Hire workforce per project.
- Reduce your office space and equipment.
- Set time limits on projects.
- Get tasks done around the clock.
The biggest benefit you’ll see from this system is gaining control of your budget. By expanding and shrinking your employee pool, you’re not wasting money in between projects. This allows you to streamline your office staff and ramp up as your projects require. Give it a try!
2. Reduce the environmental costs of running your business to build resilience.
In a recent report from Nielsen, 81% of consumers said it’s extremely important that companies “implement programs to improve the environment,” and 30% of consumers said they’re “willing to pay a premium for products that deliver on social responsibility claims.” Sustainability will create long-term value and longevity for your business as the world comes into the age of “conscious consumption.”
Think of it as operating on a triple bottom line: people, planet, and profit. Truly eco-friendly companies not only create sustainable products, but they also approach every step of their operations—from sourcing to production to distribution—with environmental consciousness entwined into their brand.
West Paw, a pet supplies company that uses recycled plastics for its products, has kept 12.6 million plastic bottles from landfills. Patagonia, a leading outdoor clothing company has pledged 1% of its sales to the preservation of the natural environment for over three decades now. Lastly, the company Pela prides itself in creating the “world’s first 100% compostable phone case,” and its goal is to prevent 1 billion pounds of plastic from being made in the next five years.
What’s one simple action can your organization take today toward a more sustainable path?
3. Create a virtual storefront to boost sales.
Every business has a website, but can your customers purchase your goods and services directly from your homepage? Without a strong web presence, you’re limiting your business to local customers only when you can potentially operate globally. The Internet never sleeps, and neither should your business!
Adding a virtual storefront to your current website is not difficult at all. If you offer products or services that anyone can use, stop limiting yourself to the same group of customers. If the thought of expanding your reach makes you feel like you’re being pulled out of your comfort zone, remember that your competition has already done it. Follow the trends, or you may be left behind.
Click here to learn more about virtual storefront.
4. Leverage AI solutions to improve productivity and affordability.
When it comes to hiring new staff, it’s important that you choose the right person for the job. But what if the right person for the job isn’t a person at all, but instead, an IT solution? Artificial intelligence (AI) offers many benefits for businesses now, and into the future. From bypassing the hiring process, supporting your employees in their day-to-day activities, and engaging your customers via omnichannel customer support, AI solutions can open up your opportunities for growth while staying within your budget.
Before purchasing your AI solution, it’s important that all businesses consider the benefits and drawbacks of artificial intelligence. When looking to optimize your IT management, a quick Google search for the best “automated small business solutions” will lead you in the right direction. Then you can focus the search on your specific industry. Whether you work in financial services, healthcare, insurance, logistics, or nonprofit, there’s an AI solution that will work for you.
5. Make the move toward a more people-first culture with a clear purpose.
Agile ways of working bring great benefits to organizations and individuals alike. But going from a classic top-down pyramid structure to a flatter, more flexible structure is not easy. When you’re changing your operating model and people’s roles, understanding what drives people is key. Work alongside your employees to make the change.
In his book “Start With Why,” Simon Sinek describes the difference between leaders that inspire and those who simply delegate; he encourages readers to look at leadership with a new outlook.
It’s too early to tell if this year will be as challenging as the last, but even if it’s not, we need to prepare for the worst. If you’re not sure how these business trends can save money and grow your business, remember that we are here to help. As a Managed Service Provider, we can show you some of the latest business developments and solutions that just might be the answers you’ve been looking for. Contact The TNS Group today and let’s talk about your future.