The US economy has improved significantly, but now many business owners are facing more unique challenges. The 2 biggest concerns we hear on a daily basis are the difficulty in finding staff and the challenge in getting material/supplies. There are a few strategies that may be helpful in tackling each of these challenges.
- Consider looking for part-time help versus just trying to fill a full-time/salaried position. Many older skilled workers prefer working 10-20 hours a week. One of our clients in the trucking industry was able to hire 2 part-time drivers and set their schedule to equal almost a full-time driver.
- Beyond posting jobs on Indeed or other job sites, a local vocational school that has graduates looking for work may be able to fill a position quickly.
- Can any portion of your business benefit from automation? Even a simple voicemail system can eliminate time your staff gets tied up by
- Evaluate every aspect of your business to see where time is wasted. Can you outsource any portion of your business that consumes you/your employees time?
- If there are parts/components that your business consistently uses, consider stockpiling 3-6 months of this inventory. If the supply chain issues persist into next year, or gets worse, your business can be partially protected.
- If you have multiple clients asking for your product, consider asking them if a partial order would help their own production while you are working on their backlog. As an example, one of our clients works with several homebuilders, even though each homebuilder needs a certain amount of lumber to finish the job they don’t necessarily need it all at once.
We hope you and your business can overcome these challenges and have a successful second half of 2021. If you have any upcoming equipment needs our team is available to discuss equipment financing options for your business. Give us a call at (949) 271-5800, email at firstname.lastname@example.org or chat us now at the chat box below.