14 smart ways for small businesses to maximize their resources
Small businesses often operate on tight budgets and with limited staff, so it’s essential for them to leverage their resources as efficiently as possible. Formal resource planning is a direct, focused process of reviewing an organization’s resources — financial, human, technical and otherwise — and mapping out strategies to maximize their productivity and impact. However, many small-business owners may struggle with resource planning, either due to a lack of experience or (again) limits on their time.
The members of Business Journals Leadership Trust are experienced leaders who have learned smart strategies to maximize limited resources that are relatively quick and easy to implement while still providing significant benefits. Below, 14 of them share their insights.
Tip No. 3 Hire ‘part’ of an expert.
As your business grows, seek out experts instead of always seeking out employees. Consider fractional services and sharing resources. Whatever your need — finance, human resources, marketing or IT — hiring “part” of an expert can help you to more quickly and effectively grow and scale your business, without the price tag of, and commitment to, a full-time employee.
Mark D’Agostino, ConnectedHR