Fire everybody & do the work yourself… Is probably not going to work.
Every Business owner will always look for different avenues for the company to save money & hopefully make money. Ultimately this is one of the major elements for any Businesses growth. After reading a few different articles on the Internet, here are some of the suggestions (in which we don’t necessarily agree with);
• Packaging services for a larger rate – This is going to generate a higher profit margin, which ultimately will make your business more money. What you need to be aware of, this may lead to those potential customers going to a competitor because they’re cheaper.
• Add Higher End Services – Depending on the nature of your business you could create a product/service for the high-end clients. You need to understand your true demographic & be confident this will work. By offering product/services that is designed towards more affluent clients could jeopardize your relationship with current clients.
• Lead Generation – Having alternative ways of generating leads is always good. Sales is a numbers game, which hypothetically means the more leads = more sales. Generating leads will cost money & although you may have leads, they’re not guaranteed money. Be diligent when looking at different ways for lead generation.
There was a fair few others I could of mentioned. After reading different articles, I feel there is one key element they’re all missing. This is Tendering for work. There are 100’s of new tenders available every day. Some of these contracts can be worth over £1,000,000. The actual tender process can be quite rigorous & unfortunately not enjoyable, but with hard work comes great reward. With a lot of tenders a business will need to hit certain criteria. Quite often your business will be asked if you hold certain accreditations. Different business sectors do have ones specific to them such as NSI, FORS or CHAS. However please see below some accreditations which are relative to most of businesses;
• ISO 9001:2015 – Quality Management
• ISO 14001:2015 – Environmental Management
• OHSAS 18001:2007 (ISO 45001) – Health & Safety
Not only can these accreditations help your Business win 6 & 7 figure contracts, it also a great way to demonstrate that your business runs an effective management system.
If you would like to learn more about ISO & the process that goes into implementing it. You can contact any of our team members & we’d be happy to talk to you about the process that needs to go into it.
01625 569 474