When you are starting up your own business, there are so many things to think about and so many others that demand your time, money and attention. It can be difficult to know quite where to invest your funds and energy, so today we are sharing with you our suggestions, here are 3 investments your startup business must make.
Invest In Your Team
First and foremost, you should invest all that you can into your team.
Your team will be central to your business and so they need to be trained well to be able to carry out their jobs and motivated to want to do so.
Your role here will be in providing appropriate training so that they are confident in their jobs, followed by ongoing support and coaching. In addition to their development, you should ensure that every individual feels respected and valued for the job that they do, as well as feeling comfortable in their work environment.
Providing this to your team doesn’t have to be expensive or eat into your productivity. Tools like the Ezra Coaching App make it incredibly easy to keep your team on their toes, providing them with the means to improve their work without having to attend long sessions. Sometimes, a little bit of advice is all your employees need.
A happy team will also be a productive, engaged and loyal team. This should ensure that your staff retention is strong, your absence levels are low and that the service your business delivers is excellent.
Invest In Equipment
This point is going to be more about monetary investments, as you are going to need to invest in the relevant equipment to allow your business to flourish.
Whether you need a GPS Receiver, the latest accounting software or a studio camera, you must prioritise acquiring the equipment that your business needs in order for it to run smoothly and to make everyone’s jobs easier.
Whilst some of these purchases might appear to be costly initially, they should pay for themselves as they increase your team’s efficiency and deliver a better service and end product to your customers.
Invest In Marketing
There are plenty of budget-friendly ways to promote your new business, so there is no need to throw all of your funds at this one, but it will definitely require an investment of your time.
The first place to start will be in designing and creating a website to serve as an online frontage for your business. This can be completed relatively easily and quickly, but if this is not your area of expertise, then do get a web designer onboard to assist you. Your website needs to appear professional and well-designed in order to make a good impression, so you will want to get this one right.
It is then worth making use of social media, as these platforms are free to utilise and can have an extensive reach. Choose one or two platforms, no more initially, and concentrate on sharing content and developing your following and voice. It is far better to have just one or two platforms that you are visibly active on than to have half a dozen and struggle to manage them all.
Word of mouth and online recommendations are fantastic forms of marketing, so do ensure that you regularly ask your customers for their feedback and to share their opinions and views with friends and on online review sites.