Program Success 25 Noember 2020
10 . Develop Your Leadership Team
The best way to save money as you grow is to invest in your leadership team members to help them effectively work together and build their teams in a way that drives effective planning , coordination , collaboration and joint problemsolving . Otherwise , silos will take over , which breeds power struggles , politics and blame-game behaviors , resulting in poor handoffs , conflicts and duplication of efforts , which are all costly . - Mark Samuel , IMPAQ Corporation
11 . Stay Laser-Focused On Your Priorities
Know your priorities and stay laser-focused . Make certain that investments are made and money is spent only in those areas identified as critical to your objectives — nothing else . Temptations and opportunities to sidetrack will be everywhere . When they arise , bring your purpose forefront . Does making this move get you one step closer ? If not , do not do it . Saving today means having more to go forward . - David Yudis , Potential Selves
12 . Surround Yourself With A Diverse
Set Of Peers
Surround yourself with a diverse set of peers who run other businesses . Peer-to-peer organizations will pair you with between eight and 18 non-competing organizations with whom you can compare best practices . It is lonely running a business , and joining a peer group gives you a trusted set of advisors you can lean on . This will save you from running into the same potholes your peers have experienced . - David Galowich , Terra Firma Leadership LLC
13 . Shift Fixed Costs Into Variable Ones
Wherever Possible
Growing a business while staying lean and solvent requires taking an optimistic yet cautious approach . Find ways to turn fixed costs into variable ones . It is easy to fall into the trap of hiring too many people and inflating inventory . Look to maximize the productivity of people by putting the right incentives in place . Use artificial intelligence technology to predict patterns and manage your inventory costs . - Rick Itzkowich , Vistage Worldwide , Inc .
14 . Leverage Free Marketing Platforms
Building your professional brand doesn ’ t have to cost a lot . Leverage your free social media platforms . You can create quite a following by writing articles and posting vlogs and blogs . Consistency is key . Remember that , as you ’ re building your empire , you need to keep in contact with your followers . Make sure to keep up your engagement . - Joyel Crawford , Crawford Leadership Strategies , LLC .
15 . Outsource Instead Of Hiring Full-Time Staff
When it comes to growing a business while trying to remain lean and save money , outsourcing is important . No one can achieve exponential growth without a team . However , it is not necessary to have a full-time staff to succeed . Outsourcing through contractors and freelancers can be a great way to get the job done while not having to contend with the overhead of employee wages or other expenses . - Lori A . Manns , Quality Media Consultant Group LLC