There’s nothing easy about running a business, no matter if you are a start-up in your first year or just about to celebrate your tenth year trading. Part of owning and running a successful business is about identifying weaknesses in your current strategy to improve it going forward.
Every digital SMB out there will have a growth plan built around these aspects. But without the correct investments in place to support your efforts, you might be jumping a huge log when you could be jumping a small stick.
So, here are some investments that every digital business owner should consider.
Getting Your Own Server
This may seem far fetched for a lot of digital business owners out there, but there are a lot of advantages to running your own server. This is especially true if you are running an e-commerce site.
Relying on a third party to host whatever it is that you are needing to be hosted is a good way to make things simpler, but it also opens you up to some risks. For example, if your site goes down, that means visitors can’t be converted to customers.
Using a third party host means notifying them and waiting until their admins are free to deal with the issue. This isn’t always an immediate fix.
Hosting your website on, say, your own server can fix this issue. You can get hands-on with your own admin to fix the issues as soon as possible. The less downtime you have as a digital business, the better.
Even if you only use hosting to store data, storing it locally on a server you own is always a safer bet. Hackers will be too occupied going after the larger fish like Google, Amazon, and huge international firms.
But hosting your own server doesn’t need to be expensive. Rack servers, for example, are a good way to choose what you need right now and leave room for expansion in the future.
Go Nomad!
Nowadays even digital businesses will have a physical office, even if it is a small office that barely gets used. However, if the pandemic has taught us anything, it’s that employees are just as (if not more) productive in a home working environment. Lots of businesses have already adopted a flexible working style, but why stay Flexi?
Going full nomad and getting rid of the office for good is a great way to cut down on monthly expenses. ‘But what about client meetings!?’ – well, there are plenty of spaces to rent for a day and time slot to fill that exact need.
Hotels often have conference rooms of all sizes for rent which can easily be used. And if you don’t have many client meetings face-to-face, this option can save you a lot of money on rent and utilities in the long run.
As an added bonus, it means your employees don’t need to travel to work – cutting carbon emissions in the process. You can even use this to prop up your company PR image.
One Last Tip
Investing or learning about Blockchain technology is slowly becoming more important. Invest in yourself, your education, and even your digital assets by learning about what Blockchain is – and the currencies based on blockchain out there.