Home Business and Finance Boost Your Business

Boost Your Business

by admin

In this issue we will look at business development strategies that can facilitate growth and help lay the foundation for short and long-term success.

Ensuring a business runs smoothly is an ongoing challenge, and in seeking to maintain hard-earned momentum and promote further growth by boosting service offerings it is worthwhile exploring a number of options.

From acquiring new equipment, to taking on new staff, investing in training and development, and integrating new technologies across different aspects of your business operations, there are a number of paths businesses in the automotive industry can take to enhance and expand their service suite.

In assessing what course of action is best suited for your business, it may well be worthwhile weighing up your current service offerings, and then considering how you may go about augmenting them.

Seeking external advice on what actions you may potentially take could provide additional perspective, with it also worthwhile observing how your competitors operate, and taking note of and acting on client feedback.

New Equipment

Old and comparatively inefficient equipment may be slowing a business down and driving up operational costs, and it is worthwhile regularly looking into the value that new equipment can provide.

New equipment may deliver productivity and efficiency benefits, along with increasing the range of services your business is able to offer, and over the long term deliver operational savings, however businesses will need to determine the feasibility of making an investment.

Business will need to weigh up a range of factors, from financial to operational considerations, in assessing the viability of investing in new equipment.

New Staff

Bringing in additional crew members could complement and help diversify the services your business is offering, potentially providing a path to further growth.

When considering expanding your workforce, it is, however, important to carefully weigh up your requirements and to keep in mind your responsibilities as an employer.

The Fair Work Ombudsman website offers a number of tips on hiring new staff, highlighting the necessity of being aware of all relevant laws, along with assessing your business’ current and future needs, and defining the role you want to fill.

The Fair Work Ombudsman’s Guide to hiring new employees can be found at: www.fairwork.gov.au.

Training Courses

As advised via the business.gov.au website, training and skills investment “can increase productivity and innovation, help you attract and retain high-quality employees and improve customer satisfaction”.

As an employer, you should consider a number of factors when it comes to training, with business.gov.au advising:

Identify skill needs – to help understand what type of training will benefit your business, encompassing identifying the skills you and your crew currently have

Explore training options – look at a range of options, including formal courses, apprenticeships and traineeships, mentoring and workshops

Find skills funding and programs – consider government-funded programs

Build a diverse workplace – employers can access a wider range of skills by employing people with different backgrounds.

New Technologies

It is worthwhile exploring how new technologies can be harnessed to benefit a business across various operations, from the office to the job site

It may be a matter of gradually integrating technologies, with it important to maintain a long-term outlook and recognise the cumulative effect small changes can potentially have over time in both directly and indirectly building upon service offerings.

Technology integration could range from using a smartphone personal assistant to provide reminders, to using cloud computing to store and share data, to fitting out machines with GPS to keep track of their location, and may in turn pave the way for implementation of complimentary applications.

In the next issue we will look at some of the strategies businesses can employ to diversify their clientele.

Related Articles