In business, the bottom line is always the measure of success. You spend countless hours seeking new opportunities, clients and customers, and an equal amount of time trying to reduce expenditure without compromising on quality. However, there are some things that you can’t afford to scrimp on:
- Legal Advice
Nobody likes to pay attorney fees, but by scrimping on legal advice, you risk the cost to your company being far greater in the long run. Good legal advice can nip any legal gray areas or potential lawsuits in the bud before they detrimentally affect your reputation now and in the future
- Insurance
Running any business comes with risk. You are not able to control outside influences: property or stock damage through flood or fire, or a contractual breach (see above), for example. You need to take out quality insurance that is tailored to your business and industry to protect your business’ and employees’ future.
- Public Image
The general rule of thumb is that anything that the customer encounters, you shouldn’t scrimp on. Not only does this mean the quality or standard of the goods or services that you provide but things such as your website and your company stationery. Use quality Epson ink cartridges in your printers and premium quality paper for documents. Every aspect that customers or clients touch need to project the standard of your business.
It’s hard work trying to find the balance between making savings and making money, but sometimes the decisions that you make can only benefit the short term. You must look at the bigger picture, fill in the gaps to the question of ‘What if?’. You need to protect your business and brand so that you are prepared for any change in circumstance and make choices that help grow and expand your business.
