The saying “reap what you sow” still applies to modern-day businesses. When it comes to growing your business, it’s important to invest time, money and energy now so that your organization can prosper in the future. Here are some tips to help you build a strong business foundation.
When you invest in marketing, it’s all about the results—extra sales, new leads and positive brand impressions. Investing in marketing, even during uncertain times, helps you reap the rewards down the road. Magnets that display your logo, name and top services are an effective marketing tool. Pass out seeded business cards to existing customers. And be sure to give them a few extra so they can plant a seed with others who may benefit from your products and services. Promotional giveaways, like a sanitizer pen, are sure to get lots of use. Every time they jot a note or clean their hands, they’ll be reminded of your business.
Invest time and effort into your company’s recruitment efforts and you’ll be repaid with a pool of qualified candidates. Often those looking for a job are considering your company along with one or two others—so be sure yours stands out. With many job fairs and interviews being done virtually, it’s more important than ever to make a personal connection with the best candidates.
When writing job descriptions, highlight what your company can do for employees rather than only the new hire’s responsibilities. After an interview, send a small thank-you gift that’s relevant to your brand or the season to make a lasting impression. For instance, a health and beauty brand could send lip moisturizer. If you’re interviewing around a holiday, send a jelly bean tin. Or, if you’re looking for something that appeals to a more general audience, consider a unique mug.
Employees want to feel confident in their ability to do their job well. Investing in their professional development can help boost morale, job satisfaction and happiness in the workplace. Plus, it can reduce turnover. In fact, 7 out of 10 people say professional development opportunities affect their decision to stay at a company. And having dedicated employees is key to building a solid business foundation.
Find out what your team would like to learn in the upcoming year, and have them create a professional development plan so they can track their progress. Reward everyone who accomplishes their goals with a prize, such as an espresso set or a logoed vest.
Innovation is all about new ideas, and employees are a great source. Because they’re involved in day-to-day operations, they can spot ways to improve procedures. Invite your team to share their ideas. Review the ideas and implement the best ones. Hold random prize drawings for participants or reward those whose ideas were chosen with phone grips or stylus pens. Or get innovative with your promotions. Slip an unexpected gift, like a box of chocolate covered cookies, in your customers’ orders.
Reap what you sow
By investing in the right things today, you’ll be well on your way to building a strong business foundation that will pay off in the future.