Like it or not, Thailand is at a point in time whereby living and business operating costs are increasing to such an extent, that a huge number of people simply cannot afford the necessities in life, let alone the luxuries. If you’re a savvy business owner, then it should be almost second nature to you, to look for efficiencies, to save time and money wherever you can, it just makes sense. Why should your operations be over complicated and cost you more than they should do, if they don’t need to?
The size of your business
In all fairness, the size of your business shouldn’t really matter when it comes to saving time and money, much like employing a digital marketing agency in Thailand, even if you’re a one-man-band, there will be things that you can do to save money, here and there. Naturally, the bigger your business becomes, you’ll have more to think about as things start to become more complex. The beauty of cost-saving initiatives is, that the bigger your business is, you stand a bigger chance of saving more money when you do stumble across a little gem, the value of which can be measured by time saved and money not spent!
Shed some weight
Most people are in favor of saving a few pounds around the waistline, in business terms though it’s a cut-throat operation to undergo, you could find yourself with a much happier workforce, with the potential to even share your cost savings but giving your other employees a little bonus or pay rise!
Dead wood
In business, the terms, to shed dead weight, or dead wood refers to you going through a thorough audit of your staff, their roles, and responsibilities, as well as assessing how much they are being paid when compared to the work that they actually do. The process may need to be carefully approached because, there could be security risks involved, essentially, you might be getting rid of one of your employees.
It’s a hard thing to do for some people but, you have to consider your business and its profit margins, over and above everything else. If you run a large organization then the chances are, that you have some employees that are not perhaps as positive as they could be or get away with not doing a lot. The bigger your business, the easier it is for these guys to fall under the radar!
A sensitive approach may be needed
Now, as you are probably aware, you can’t just go around firing people like something out of a TV show, no matter how tempting it might be should you come across something you really detest whilst on your audit journey. You’ll have to play it smart and go through the redundancy process, which might entail creating some new job titles. Either way, if somebody or some people are holding your business back, it’s time to say goodbye.
Remove yourself from emotion
If you are a caring person, as many are then even if somebody has done something unforgivable, cost you money, or just generally been poisonous in terms of office dynamics this can still be a really hard thing to do. You’ll need to remove yourself from your emotions or get somebody else to go through the process for you.