Here are the suggestions and ideas on the three BIG issues from the break out sessions:
Issue One: The complexity and rising cost of marketing without clear results
- Give top priority to content for marketing since that is what makes you stand out
- Focus marketing messages, promotion and social media on a consistent marketing theme
- Keep the tools and steps to publish as simple as possible
Issue Two: Hiring quality employees, managing turnover and rising wages
- Hire in stages if you can before making the employee permanent. Use probationary periods or internships before you make the candidate a permanent employee.
- Have an on-boarding process so you have lots of opportunities to give feedback and determine the level of trust and confidence in the worker and the work.
- For tech companies you may want to develop non-traditional recruiting and training processes. Develop a program to hire interns with diverse backgrounds from local colleges and train them for full time positions. The employees are more likely to be loyal because of the career support. The positive contribution enhances the reputation of the company. The CraneWorks worked with a local tech services company using this hiring strategy and it helped manage turnover.
Issue Three: How to Manage the Rising Costs of Commercial Rent?
- The classic response to this issue is to purchase a commercial building. Owning a commercial building supports long-term business and financial strategies, such as retirement and securing financing for future growth.
- When you negotiate a lease for commercial space build in the right to sublet space. Then you can sublet space to offset partial or the total cost of the lease payments.
In the two-hour workshop Step Up to Growing Your Business on Tuesday, August 23 from7 – 9 p.m. at NextSpace Berkeley use a framework to decide on the number one strategy to act on.
Our key topic will be how everything the company does supports revenue generation.