Many businesses have been recovering really well since the ending of lockdown restrictions, after the damage inflicted on the worldwide economy. A lot of businesses have come back stronger than ever – in many cases, work from home and flexible working have resulted in more prosperity, and the economy is starting to recover nicely. However, you shouldn’t jeopardise this success by making silly business mistakes. Here are 4 key mistakes you shouldn’t make in 2024 if you want your company to continue to thrive.
Ignore Industry Changes
Paying attention to your industry is one of the best things you can do if you want to ensure your company continues in its growth. For example, knowing which industry changes could affect your everyday business operations is essential so that you don’t get sidetracked or distracted. For example, Grandfather rights are ending in the UK – this means that construction workers will need to get a construction qualification before they are able to get their CSCS cards. Construction companies are preparing for this change, so that there is no change to their everyday business operations – examples like this are why you need to pay attention to your industry’s news.
Don’t Take Advantage of Funding
There could be many funding opportunities available from a variety of different pots that could be very useful to your business, however, many businesses neglect to take advantage of them. For example, there is a skills gap across the world – and many local authorities are providing businesses with funding to close this gap. In England, many local authorities are funding construction NVQs to help workers upskill and find more work. Taking advantage of funding opportunities that may be useful to your workforce is one of the best things you can do if you want to protect your company.
Neglect Digital Marketing
Digital marketing is one of the best things you can do for your company at the moment. No matter if you think your business wouldn’t benefit from doing TikTok dances and social media ads, having a good website and investing in your Google rankings could be one of the best ways to boost interest in your company. There are so many facets to digital marketing, and when over 70% of consumers report searching the internet before choosing to go with a company. Start to work on your digital marketing strategy in 2024 – or risk being left behind.
Not Preparing For The Green Economy
The green economy is coming, whether you like it or not. The push for sustainability isn’t going anywhere – a quarter of consumers consider sustainability over price when it comes to choosing a company, according to research by Forbes in 2023. That means that you need to invest in green skills training for your staff members as well as fully formed sustainability pledges to be able to ensure your company can compete in the green economy. Neglecting the massive surge in green values throughout society could be a very financially damaging business mistake for your company – make sure you’re preparing for the green economy.