It is possible to improve the overall efficiency of your business simply by making small changes in certain areas.
Although your business might be doing well, it is always useful to look at your business processes and evaluate whether anything could be improved.
Firstly, examine whether your bank is still giving your business the best deal. Many banks offer great incentives to businesses looking to switch. Then, in the same way that you have re-assessed your bank, conduct an evaluation of all your suppliers. This applies to everything from material costs to utility bills.
Remember to conduct credit checks when entering into large deals with new customers or suppliers. This costs a small fee but it is worth it for the peace of mind it will provide you.
Get back in touch with customers that have purchased from you in the past. If you don’t have an accurate customer database already in place then you must implement one immediately. Look for ways to market your business more in the bootstrap fashion without adding to your marketing expenditure.