Why keeping on investing in your business is crucial to your success

Starting your business

Starting your business requires a lot of investment even before you begin in time, effort as well as money but beyond that start up moment, as long as your business exists, investment plays a vital part of its chances of success.

Of course many will see investment as just an expense they can do without, but there are real upsides when you do invest in your business.

Upsides when you keep on investing in your business

We have found that our staff treat it as really good news when they know we are purchasing new equipment, acquiring new software solutions, supporting training and education programs and recruiting new talent.  Having staff who can see the positive benefits of investment and enjoy the results is a real upside and strengthens the company culture.

Not only our staff give us positive feedback but so do our clients like it when we invest in the company and a superb upside of this is that they promote us through word of mouth as they talk about what we are doing in our own business to grow it.

In 2020 we have also been investing in tools and software to help our staff do their jobs more efficiently and as a result we believe we can maintain and improve our client service as a result – that is a real upside!

Because of the current pandemic, we had to quickly supply staff with laptops and remote access to our server.  I’m sure many businesses will have had to invest in such tools and kit to enable customer service to keep to high standards.

To help us improve and grow our practice management we have only this month invested in Accountancy Manager, a piece of software to help us run the firm more efficiently and improve client service.

Employee training of course is a sure way to invest in your business and common sense tells you that there must be an upside to it.

As a chartered accountancy practice our staff have to maintain their CPD (Continuous Professional Development) points so they must attend professional training courses throughout the year to do so.

We also encourage staff to learn new accountancy software and during this month I’m delighted to say that 3 of the Huddart team (Chris, Fiona and Kendal) passed their online exam and each became a Xero Advisor Certified. It was a real buzz when we all applauded their success during our Zoom Team Meeting.

If you don’t know what Xero is, it is a powerful cloud-based accounting software which helps you run your business on the go and enables you to access your accounts whenever and wherever.  It has features such as payroll, invoicing and reporting and much more.

We have at least 100 clients who are using it every day and to ensure we can help, guide and support them it is vital that we are constantly being trained in its use and development.  If you would like to know more about Xero then please drop Andrea (our very own Xero Champion) an email to find out more.  You can reach her at andrea.parr@jeffreyahuddart.co.uk. Call the office on 0161 703 8353 if you would like to know more about Xero.

 

 

 

Conclusion

I hope you can see from the above that investing in your business has very real upsides and will increase your chances of success in better customer service, improved products and services and better and more fulfilled employees.  These are terrific wins for any business!