As your business grows, it is necessary to invest some of your profits back into the company to maintain a steady upward trajectory. There are many different factors that you need to consider when deciding how to invest in your business. This guide will explain three of the most important things that you can do to ensure your company has the best chance of growing and becoming more profitable.
Marketing
Marketing is one of the most important areas of investment for your business. Without a clear and well-planned marketing strategy, there is every chance that you will eventually run out of clients, and this could prove catastrophic for your business.
Depending on what type of business you are running, there are a number of different marketing options to look at investing in.
Search engine optimisation (SEO) involves writing articles for your website that rank well in Google for search queries that are relevant to your customers. This is a great way to drive traffic to your website and gain new leads.
Social media marketing helps drive brand awareness and create loyalty with customers at a minimal cost.
Contests and giveaways are another great method of attracting new potential clients to engage with your company.
Security
While growing the business is always one of the main concerns for entrepreneurs, it is equally important to protect your company from outside threats. After all, it is impossible to scale upwards if your business is unstable or under attack.
For some businesses, physical security in the form of CCTV cameras, security guards, shutters or sturdy locks could be necessary to safeguard the premises and stock.
Data security was often overlooked in the past, but as companies have become more and more reliant on digital technology, the need for data security has increased massively. Data security involves protecting data from unauthorised access and data corruption through processes such as: data encryption, Checkpoint Firewall Protection, tokenisation, cloud access security, hardware security modules and key management processes that need to be carried out by all staff members.
Working Environment
Studies show that employees who are happy are 48.4% more likely to stay with a company, which means that investing in order to create a positive working environment could save you lots of money in the long run by reducing costly staff turnover.
Bringing in natural light can improve the frame of mind of your staff. On average, people who work in offices with windows get an extra 46 minutes of sleep each night due to the increase in natural white light from the sun.
Recreational facilities can also help to improve the wellbeing of your employees. Activities like ping pong or table football allow team members to blow off some steam between tasks and can also increase team cohesion.
Quiet rooms are important features that need to be considered if your business has an open plan office. Multiple conversations and constant sales calls can disrupt the workflow of other employees and reduce their performance. However, installing a quiet room can give staff a place to go when they need to concentrate and focus on a task.