Weighing up a big investment in your business

Marcus Wolfgram • July 5, 2022

 Are you thinking about putting money into a new system to improve the efficiency or productivity of your company? Finding ways to maximise productivity is more important now than ever before because of the tight labour market. However, the cost of a new website, e-commerce platform, software system, or automations may be substantial. If you're weighing the costs and benefits of a significant investment, here are some questions to ask yourself.


How much will it cost up front, and how much will it cost in the long run? The design, creation of content, and development of a website, for example, all have significant up-front costs. It's easy to assume that once the costs are incurred, the job is finished, but that's not the case. It is possible to do this in-house, in which case a specific employee must be assigned to it, or to do so via an external vendor.


If you're considering making a significant investment, it's critical to take into account the long-term costs. You'll have to cut back on which of your current expenses. With a new system, some of your current costs may be eliminated. It could be as simple as cancelling an old subscription and no longer paying for it. The time saved by not having to manually enter data, process payments, or deal with customer issues that arise from an outdated system may also be a benefit to the company.

 

Calculating the financial costs of a project is straightforward. It's more difficult when it comes to time, but if you can, estimate how much time you'll save.

 In the long run, how will this affect your costs? Take a look at the future of your company and how it will operate in five years. Is it possible to increase your profits without expanding your workforce with this new investment? How much time will you be able to devote to finding high-value clients and how much time will you be spending on processes?


Your company should run more smoothly, increase output, and easily pay for itself with any large investment. How long will it take for this investment to pay off?

 

To get a sense of when the investment will pay for itself, you need to have all the numbers in order.



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Reshaping Our Future

By Marcus Wolfgram • March 18, 2025
n today's rapidly evolving business landscape, technological disruption and digital transformation have become more than just buzzwords—they represent fundamental shifts in how organizations operate, compete, and deliver value. As we navigate through 2025, these forces continue to reshape industries at an unprecedented pace. Digital transformation refers to the integration of digital technology into all areas of business, fundamentally changing operations and value delivery. Meanwhile, technological disruption describes how emerging technologies can render existing business models obsolete, creating new markets and value networks. The intersection of these two phenomena is where the most significant changes occur. Companies that embrace digital transformation proactively can become disruptors themselves, while those that resist change risk becoming obsolete. Key areas where we're seeing profound impacts include: Artificial Intelligence and Machine Learning : From predictive analytics to autonomous systems, AI is revolutionizing decision-making processes and automation capabilities. Cloud Computing and Edge Technologies : The shift from on-premises infrastructure to cloud-based solutions has democratized access to computing resources. Internet of Things (IoT) : Connected devices are generating unprecedented amounts of data, enabling new business models and operational efficiencies. Blockchain and Decentralized Systems : These technologies are reimagining trust mechanisms in transactions and record-keeping. For organizations looking to thrive in this environment, digital transformation isn't optional—it's imperative. The most successful companies approach transformation holistically, considering not just technology implementation but also organizational culture, talent development, and business model innovation. As we look toward the future, the pace of technological disruption shows no signs of slowing. The organizations that will succeed will be those that can adapt quickly, innovate continuously, and harness emerging technologies to create new value for their customers.

Cash is King

By Marcus Wolfgram • November 17, 2024
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Support for Business Growth?

By Marcus Wolfgram • January 28, 2024
Business growth is a multifaceted challenge. Whether you're a startup or an established company, understanding the type of support you need is crucial in navigating the journey of expansion and success. This blog explores various avenues of support that can fuel your business's growth. 1. Strategic Planning and Consulting Overview : Strategic planning is the backbone of any successful business. It involves setting objectives, identifying opportunities, and creating a roadmap for growth. Why It's Important : Proper guidance in strategic planning can help you avoid common pitfalls and align your resources effectively. 2. Marketing and Branding Expertise Overview : Effective marketing and branding are essential for standing out in today's competitive market. Benefits : Professional marketing support can increase your brand's visibility, enhance customer engagement, and drive sales. 3. Financial Management and Funding Solutions Overview : Financial health is key to a business's sustainability and growth. Key Aspects : Expertise in financial management can assist in budgeting, cost analysis, and identifying funding options like loans or investors. 4. Enhancing Operational Efficiency Focus : Operational efficiency involves optimizing your business processes to reduce costs and increase productivity. Impact : Streamlining operations can lead to significant cost savings and improved customer experiences. 5. Technology and Innovation Role in Growth : Technology drives innovation and efficiency. Advantages : Integrating the latest tech solutions can automate processes, improve data analytics, and open new avenues for business models. Conclusion: The path to business growth is diverse and requires a multifaceted approach. Identifying the right kind of support is essential in ensuring that your growth journey is effective and sustainable. Are you looking to grow your business but unsure which area you need support in? Contact us to discuss how we can assist in your growth journey, providing tailored solutions to meet your specific needs.