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5 Best Ways to Spend Your Year-End Budget
Whether you are one of the few companies shelling out stacks
of cash or just trying to stretch what you have left, there are a number of
brilliant ways to maximize your year-end spending. In our opinion, these are
the five best ways to spend your remaining budget.
1. Stock Up on the Essentials
This is the obvious. Paper, pens and most other office supplies don’t have expiration dates and will always get used. Give yourself some wiggle room in next year’s budget and buy ahead of the curve on stuff you always use like printer supplies, lanyards, and other office essentials.
2. Pay In Advance
Many vendors and agencies offer price breaks for clients who pay in advance. If you know you’re going to keep the partnership, there’s no reason not to pay ahead! Get a better price, strengthen the partnership, and gain more time to strategize for future projects.
3. Recognize your employees
You and your co-workers are working hard to bring your brand to the next level. Make sure you’re giving recognition where it is due. There are so many reasons to celebrate your workforce and if you have some extra cash, this is a great way to promote an awesome culture and get a solid return on the investment. Award them with stunning trophies or their new favorite mug. We always get out employee recognition products from our friends at Baudville and they are a hit every time.
Seriously. When’s the last time you went to a conference or took an online course on the subject in which you’ve dedicated your career? Let me share a statistic – 50% of what a college student learns in their freshman year is old and no longer applicable by the time they graduate. How many years have you been in your field? My guess is there are some incredible new tools or strategies people are using that would make your job easier. Never stop learning.
5. Upgrade your Facilities
Upgrading your facilities is another great way to get a strong return on your investment. Along with bringing some new excitement into the office, this also has a dramatic impact on your walk in customers. Your entrance is their first impression of you, so own it. You don’t have to completely renovate, but upgrading the furniture or signage to a modern look can communicate a lot. If chairs could talk, what would yours say? Is that what you want customers to hear? Another great way to boost your first impression and increase office security is to implement or upgrade your photo IDs and/or visitor management solutions. Check out IDville.com if you want to learn more about that.
This is no definitive guide to maximizing your ROI but we know it’s important to spend wisely. These are some great options but if you have another thought, make sure it springs your brand forward and promotes a happy workplace.
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