Spending money to lower costs is not a contradiction in terms – unless you’re the Pointy-Haired Boss. The cost of doing nothing can be disproportionately high compared to investing in the right business solution.
As an example, spending $50,000 to increase revenues by $500,000 (or more) may be an easy choice for some managers. But if you don’t know how much you can save or how by much you could increase sales, you can’t evaluate if a project is a no-brainer or too expensive to pursue.
So, how can you know if investing in a marketing or CRM project will pay dividends? Engage a firm who can help you articulate your business objectives and then can identify the best tactics to reach them.
- Develop a simple business case to evaluate a project’s viability – if you’re not experienced in this sort of analysis, a business consultant can help via a needs assessment.
- Look at potential cost savings that will result from streamlined work flow and process improvements.
- Project realistic revenue increases achieved using new systems that improve market penetration and increase sales.
- Identify increased margins gained with greater productivity, lower lead-to-customer costs, or a shortened sales cycle.
With enough time and effort, most B2B, small-to-medium-business managers could determine the answers to most of these questions. Of course, most SMB business managers share common limitations more constraining than money: available time and sufficient resources.
If you want your business to thrive in the coming year, contact us here for a free 30-minute consultation, or call the Chief Problem Solver at 781-606-0433. If you’re serious about growing revenue and lowering costs, we’ll help you explore the alternatives.
Sorry, no Pointy-Haired Bosses need apply.