Six Essential Investments You Must Make To Grow Your Business

It’s no secret that starting a business is tough. It’s so challenging, in fact, that more startups fail each year than live to be successful. While the reasons for these failures vary, more often than not, all they boil down to is lack of money. Cash is the fuel that keeps the world of business moving, which is why most entrepreneurs do all they can to cut costs. However, that doesn’t mean you shouldn’t ever spend money. Here are six investments that you must make to grow. 

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1. Marketing The Business

The most obvious way to grow your business is by using marketing. After all, regardless of how great your product is, no one will buy it unless they know it exists. When money gets tight, many business owners cut back on their marketing. The issue is, this usually only makes the problem worse. If you’re short of funds, there are plenty of low-cost marketing tactics that you could try. 

2. Hiring Skilled Employees

While most entrepreneurs launch their businesses alone, eventually, you will need the help of employees. Without a workforce to take the pressure off, most of the work simply won’t get done. When the time comes to hire your first employee, you must put effort and money into the hiring process. The last thing you want to do is pick the wrong hire and have to repeat it all. 

3. Upgrading The Office

Productively is hugely impacted by the environment within which you work. When your current premises start to feel cramped, you may need to move elsewhere. This is a long and complex task but can be made much easier with thorough planning. You will also need a van or ute hire to transport furniture and equipment. Make sure you delegate tasks to take some pressure off. 

4. Reducing Inventory Shrinkage

Any business handling physical stock has to deal with shrinkage. Although this is a common problem, it’s not one that you should ignore. There are many precautions you can take to reduce shrinkage, including using more efficient inventory management software and installing better security equipment. You should also train your staff to look for suspicious customer behavior. 

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5. Widening Your Knowledge

Learning to run a business isn’t something you can do overnight. You must keep investing time and money into widening your knowledge, or you’ll struggle to keep up with the competition. There are many different ways you can go about this, from reading magazines and books to attending talks and seminars. Some entrepreneurs even take business classes or degrees. 

6. Preparing For Emergencies

Owning a business is a huge risk. At any moment, something could go wrong, having costly and catastrophic results. This is why you need a business emergency fund. These savings mean that you won’t have to borrow money to cover any unexpected expenses. You should also invest in a comprehensive insurance policy that protects your company against many different threats. 

Businesses need money to survive, so spend yours wisely by following the advice above.

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Seven Ways To Craft A Killer Resume

Writing your resume can be one of the hardest parts of job hunting. Writing about yourself and showing off your professional achievements can be difficult, especially if you’re not naturally a writer. If you’re struggling with your resume, follow these tips to ease the struggle and craft a resume that will lock down that job interview and help you get the job. 

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  1. Tweak your resume for the sort of job you’re looking for. You don’t have to list every job you’ve had since you were 18. Your retail job from college probably isn’t relevant for the career you want now, so leave it off. Instead, showcase the jobs and skills that are the most relevant to the job you want. 
  2. Keep a master list of all your jobs in a document on your computer with your complete employment history. Add some bullet points of key achievements too. As you’re changing up your resume for each application, you can easily go to your master list and just copy and paste the relevant parts you need, rather than having to type them out every time. 
  3. Make your resume still makes sense when skim read. Hiring managers have a lot of resumes to read through. Use clear headings and bullet points to make sure a quick read can still get your key skills across clearly. Allow for recruitment software too. Some companies use software to search for keywords before a human sees your application, so make you use relevant key phrases to get through this stage. 
  4. Keep your resume compact. If you send across a huge document, the person in charge of hiring is unlikely to read it all. Cut the fluff out, and trim your resume down to a shorter length. Aim for about a page, and definitely no more than two pages if you’re struggling to get it to a single page. If you’re struggling to slim it down, read this guide to organise your resume in a more concise way. 
  5. If writing your resume yourself is proving to be too difficult a challenge, think about bringing in a professional. There are plenty of online services for resume writing, so you can hire an expert to write a top resume to show off your skills. 
  6. Keep formatting simple. Choose a simple font in a size that is easy to read and leave plenty of white space on the page. This makes your resume clearer and easier to look over. Separate out different section with headers, but keep the rest consistent and classic in style. 
  7. Be careful about adding too many extras to your resume. Some people advise adding extra details to stand out like infographics, but use these kind of things with a light hand. If you’re applying for a job with a more traditional company, leave off anything too flash. If you go for a job that requests the application in a particular format, make sure you follow their specifications and don’t get too wild trying to make your resume stand out.

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