Driving Business Growth How To Increase Success In Challenging Times
Business growth is something business owners are always looking for. Success can come to anyone in business at any time, though unless you adapt to changing business conditions, creating business growth and success can be difficult, especially in challenging times.
With the advent of COVID-19 in 2020, plus numerous natural disasters and geopolitical changes that have exerted challenging pressures on logistics and need different strategies in order to eliminate supply chain issues, the business world has changed. Leading to a situation where creating business growth becomes challenging using old strategies. Though these changes resounding around the world and impacting life more locally here in Australia have also brought opportunity for businesses with different opportunities open to those who leverage them, and thus more chances for ongoing business growth and success.
- Driving Business Growth How To Increase Success In Challenging Times
- Federal Government Help For SMEs In A Measure To Encourage Business Growth
- Changes In Working Arrangements Can Leverage Budgets For Greater Business Growth
- Shifting Working Arrangements And The Growth Of The Storage Industry
- Business Growth Comes Through Adaptation To Current And Future Business Conditions
- Online Business And Self Storage Solutions Partnered Concepts For Business Growth
- Optimising Your Business For Greater Business Growth And Success
- How To Generate Business Growth In 2 Simple Ways
Federal Government Help For SMEs In A Measure To Encourage Business Growth
In the Federal budget for 2022 businesses are set to benefit from an estimated $800 cash flow boost. While this may seem like a small amount, having an additional $800 to budget with can be quite significant to any business looking to create growth, and improve its success.
There are lots of true stories about how entrepreneurs have created success starting with less than $800 to their name, in part it is an issue of mindset, in part an issue of education and understanding. Both of these factors can be influenced, and there is plenty of help for entrepreneurs and business owners wanting to leverage knowledge for success in business.
Leveraging Marketing To Create Multiplication Effects In Business
One of the first things that would spring to mind for many is the use of tax breaks and grants to help with easing cost issues. Specifically, many successful business owners will leverage additional cost savings or income into marketing, helping them run targeted advertising to then bring in more income.
Leveraging Storage Solutions To Ease Supply Chain Issues
For other businesses, that additional income can ease pressures on their supply by enabling greater use of flexible storage solutions. By holding more stock and using offsite storage they can weather unforeseen events which have become more common, and make the most of changes in supply and demand to leverage business growth and success.
Changes In Working Arrangements Can Leverage Budgets For Greater Business Growth
At the time of writing, it had been reported that in Perth office rental levels were at 55% of the pre COVID-19 pandemic levels. COVID-19 through various lockdowns and concerns about infections created shifts in thinking which brought about wider acceptance of working from home practices.
With more working from home the necessity to rent offices became less, which then translated to cost savings for many SMEs. Those cost savings have a dramatic impact on the bottom line. Of course, there were other business challenges, though for many, the shift away from high priced office rentals to work from home practices led to a degree of business growth as budgets were freed up to do other things with.
Shifting Working Arrangements And The Growth Of The Storage Industry
A notable challenge for many businesses has been what is done with records and archives of business documents, they still need storage. Though within every adversity comes the seeds of opportunity and success.
Following the beginning of the COVID-19 pandemic the self storage industry went through dramatic growth worldwide, and various studies have tipped that self storage is set to continue to be a big growth and investment area through to 2031 due to increasing demand. Shifting working practices, creation of and growth of small businesses being significant factors. While many businesses are going paperless and working online, most businesses still require various records to be kept as hardcopy, plus of course, there is the need to keep levels of stock.
For most working from home, where space tends to be limited anyway, use of various self storage facilities becomes a natural choice to leverage when seeking business growth, and opportunity to generate success. Those that limit themselves to storing everything at home place limitations on growth, while those that adapt and utilise additional storage open opportunities for higher sales due to increased stock holding.
Business Growth Comes Through Adaptation To Current And Future Business Conditions
Following the dotcom boom in the early 2000’s the essential nature of the internet for business growth became very apparent.
The companies that stuck to old ways, such as Blockbuster and Kodak, missed out in a big way from their reluctance to use online business opportunities. Blockbuster disappeared completely as they believed streaming would never be a viable way to work for them, only to be proved massively wrong by Netflix, Disney+ and a host of other streaming services including Channel 7 and other Australian TV channels.
Kodak had a working digital camera in the 1970’s, though they never seized on the opportunity it presented. Instead they came into a situation where they ended up selling off numerous parts of their business and greatly diminishing in size, while other more digitally oriented businesses reaped the benefits of the tech revolution.
Business growth requires adaptation and evolution, things never stay the same, and the ability to adapt to changing circumstances is what enables business growth to remain in flow.
Online Business And Self Storage Solutions Partnered Concepts For Business Growth
Online business is very much the model for now and the future, the time came many years ago, and those who have embraced it have earned plentiful rewards. Yet, there is still very much a need for physical things, which means that space for storage is still essential for people and businesses.
As much as businesses go virtual, people still require food, bedding, furniture, plus various creature comforts, along with things that enrich their life in the form of decoration, toys for children, hardcopy books to read and study from and so much more. So while cutting out the office rental is great for stimulating further business growth by freeing up budget, business owners still need places for stock, plus all the physical records they have to keep for legal and tax purposes.
For anyone looking for business growth in the current economic climate there are two key things that things like the additional $800 in federal funding can be used to leverage greater benefit:
- More effective online marketing to bring in more clients and leverage business growth.
- Greater stock holding through self storage to ease supply chain issues and enable increased sales.
Increasing sales is always essential for business growth.
There are two ways to enable and take advantage of increased sales opportunities, marketing and having enough stock on hand in storage to meet demand. Do these things and you can create business growth in any economic climate.
Optimising Your Business For Greater Business Growth And Success
There is a lot of help available for businesses seeking greater success online. Searching in Google will bring various organisations and individuals that can help with business growth in various ways, through consultancy and coaching, through process optimisation and improvement. Regardless of how good you are in business, changing your business mindset and looking at things differently is always wise, and something where getting outside help is essential.
Leveraging self storage is also wise. Too many entrepreneurs clutter up their working environment, which has detrimental effects on their capacity to succeed. Clutter blocks business growth due to how clutter affects the mind and psychology. A neater working environment, where you can feel at ease, and free from stress helps boost business growth because the mind focuses better, thus business flows more smoothly.
Having more storage space for products also enables businesses to weather changes in supply chains, thus take advantage of situations where supply is low, providing they themselves do have stock to cover shortfall other businesses are experiencing.
How To Generate Business Growth In 2 Simple Ways
So, if you are wondering how to generate business growth right now. Leverage help to get your business performing better through opportunities with marketing and improving your business processes, or even your mindset around online business so you can work more effectively and gain business growth as a result.
Plus, leverage use of self storage facilities near you, so that you have effective stock levels on hand that enable you to take advantage of market opportunities as they arise. Keep clutter minimal, using offsite storage so that your working environment is conducive to working. These things in combination will really help you generate quality business growth and enjoy improved business success, whatever the economic climate.
Keepsafe Storage has various self storage locations that provide great support for SMEs of all types. Helping them with greater flexibility, and giving them cost effective ways to adapt to the economic situation. So if you are looking to generate greater business growth for your business, and achieve more success with it, allow Keepsafe Storage to help your business.