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Optimism For 2015

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Accentuate The Positive

Accentuate The Positive

As I write this at the end of 2014, gasoline prices are down near $2 per gallon, Q3 GDP was revised up to 5%, interest rates remain low and job growth has been robust for the past 6 months.  This is the first time I have felt confident that the economy is on steady footing since before the great recession.  The fact that my confidence rating is up is a lagging indicator as I need much evidence before I feel optimistic.  I don’t know what to do about that.  How do I operate my business with the belief that things are going to be better?

If many business owners have already been feeling optimistic what can they do to act upon that optimism to grow their business?  Here are some suggestions:

  • Invest in new software to increase productivity or manage their inventory more efficiently
  • Invest in employees by training of staff to use existing software to its full potential
  • Invest in capital equipment to increase productivity on the shop floor, better diagnostic tools or upgrade vehicles with more capacity and better fuel economy
  • Invest in key members of your supply chain – work with vendors for win-win outcomes such as having your enterprise-wide computer systems talk to each other better or give and take on payment terms
  • Invest in an advertising campaign utilizing multiple forms of media such as print, radio, TV and of course Social media
  • Invest in promotional materials in conjunction with the advertising campaign
  • Invest in the best form of advertising – word of mouth by training employees to understand the importance to provide top notch service to the customer
  • Invest in yourself by attending training in all aspects of your business from employee relations (how to be a better boss) to improving your product or service (how to be a better company)
  • Invest in yourself by taking a vacation

I hope you can find innovative ways to make your business better in 2015; it will help you in the long run.  Have a great week going from good to great.

 

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Written by pacelinebiz

January 12, 2015 at 8:01 am

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