Dangers of giving too much importance to economizing in your business
Economizing in your business can be normal, especially if you are starting to build it. However, under the strong inflation that exists, it can be a danger to invest in one, and it must be balanced so as not to fail in the attempt. What are the proper steps to save in a business?
Here are details that you have to avoid so as not to fail
when trying to save.
Plan the calculations
To achieve a successful business it is wise to make a
realistic list of what is needed; a finished business idea becomes a completed
plan. For this business plan it is necessary to take into account the expenses
, for example:
If the business will be a restaurant, but you do not have
the means to hire a chef, one way to save can be to partner with someone who
knows how to cook.
Once all the possible forms of savings have been analyzed,
we start with the inevitably necessary expenses.
Immediate expenses
They are those that are inevitably needed to start, as
perhaps they could be: materials, premises, employees, decoration.
In this cases it is normal that the greatest impulse is felt
to give too much importance to economizing the business; But if you offer a
poor quality service because you want to save, those customers will never want
to return, and that is one of the biggest mistakes.
For example: If you buy cheaper kitchen products but perhaps
expired, or about to expire, to save money on fresh products, your service will
not be of quality. The client will visit you once, and would leave with bad
experiences and inadvertently give recommendations to others.
The same would happen with the decoration, the premises etc.
The risks of over-economizing your business
Below we will show three specific points where it is prudent
to capture the risk of economizing in your business.
Customer acquisition
You can not skimp on the advertising that the business
needs, it is not just advertising, it is marketing designed to meet the needs
of potential customers; which will be decisive in the trajectory of the
business.
Customer Support
Once a client visits you for the first time, the attention
you can give them is decisive; do not underestimate that they feel comfortable with
the place, the lighting, the seat, the setting, even the direct treatment of
your employees.
Although it is true that many seek experienced staff, good
training for all employees guarantees an excellent investment.
Customer loyalty
There is a mistake that both new entrepreneurs and
traditional companies make, because they come to think that if the product is
good, and if the service they offer makes their audience grow, then their
buyers will remain loyal to the brand.
It would be naive to thinks that the competitor is not going
to try to make campaigns more striking than your proposal, you should take
advantage of the advantage by offering an excellent after-sales service to
bring back customers who already know you.
As we have seen, saving in your business is not only saving
money or resources, saving is a conscious practice that you can only execute in
some sectors of your business without affecting the fundamental pillars of your
value proposition.
.jpg)