In general, we tend to not spend enough time on rethinking our general costs.  Now that you are revising your yearly budget, it’s important to have a brainstorm with your team to determine your strategy for the next 12 to 24 months and how to best invest your hard earned money.

Below are a couple of ideas of topics to bring up during your meeting.

TOPIC 1: digitalising your business and automating your processes
More than ever, customers have been accustomed over the pasts months to ordering a lot more online and expect everything to be available at a touch of button.  
– How can you digitalise your business and automate your processes?  
– How much budget have you forecasted to be able to put this in place? 
– Who in your team can project manage these changes?

Check this great article on E-commerce global trends

TOPIC 2: business consultants vs. employees
As the cost of employment continues to be high in most countries, we are seeing a trends of working with both business consultants and employees in companies so as to benefit from consultants experience and knowledge.
– Is there one area of your business where you should consider working with a business consultant to help you reach your goals faster?

TOPIC 3: video conferencing vs. traveling
Now that home working seems to be the new normal, it’s important to be able to reflect on how this has benefited your company and your employees.  For most companies, they have seen that they are getting great results from working through video conference and have realised that less traveling is needed in order to run their businesses.  
– Has this been the case for your business? 
– How will you go about your team travelling post Covid? 

TOPIC 4: office space vs. home-working
As with video conferencing, we have also observed the trend of office space closing or making the office space much smaller.  This allows for more flexibility of a work/life balance for your employees and not everyone needing to be at the office at the same time.  
– Check your rental contract and speak with your landlord about adapting your current set-up.

What are some critical decisions you need to make now to ensure the future growth of your company?

Let us know how you have applied these ideas to your business.