Lean business models have become increasingly important in the internet age. This philosophy, based on the idea that expenses should be minimized in order to pass savings on to the customer is an ideal fit for our technology-driven world. In this article, we will discuss a few of the most important characteristics of lean business models and offer some practical advice as to how you can make your business more lean.
- Hire Remotely. Are you looking to hire a new full or part time employee? This is certainly an exciting milestone of growth for any business. However, you may wish to consider a more efficient alternative: virtual assistants. Hiring a remote employee allows you more flexibility when it comes to your schedule and budget. Remote assistance generally have several clients, and are willing to adjust their hours based upon your needs as an employer. This allows you to spend less during slow weeks, and more during weeks when you genuinely need to help.
- Go green. Making your business more environmentally friendly offers a number of concrete benefits. For one, energy efficiency oftentimes goes hand-in-hand with financial efficiency. Installing a smart thermostat or energy efficient windows and appliances are both good examples of this. Eliminating unnecessary paper records and taking more advantage of the world wide web and/or cloud computing options are also popular green options.
- Seek E-Commerce. We’ve talked about hiring online and online record keeping; now it’s time to talk about selling online. Any smart business is always looking for a new customer base. By finding you are new customers in the online world, you can reduce many of the costs associated with having a growing brick and mortar location. If you are interested in this type of option, we suggest that you do a bit of research on e-Commerce, along with its implementation and its many benefits. People’s Host and The People’s Host blog are both good places to start — we hope to see you there!