Friday, June 14

3 Ways to Run a Cost-Effective Business

COVID-19 has created a big difference in the way business owners operate day-to-day. Sadly, it has forced several people who couldn’t make the necessary changes to close their doors for good. It’s left those remaining owners to search for the best way to run a successful, and cost-effective, operation. When looking for ways to improve your company over the long run, mimicking a successful business is good, but following the ideals of a successful person is better. If you’re looking to run a cost-effective business, Malliha Wilson is a good person to follow.

After a quick look at the LinkedIn profile of Malliha Wilson, you can instantly tell that she is a person to admire. As the Assistant Deputy Attorney General of the Ontario Government, Malliha dedicated eight years of her life to serving the people of Canada. To make this achievement more impressive, she was the first visible minority in that position. She currently serves at the law firm Nava Wilson LLP in Toronto, Ontario where acts as the Senior Partner. During her career, she participated in more than 20 cases at the Ontario Court of Appeal and the Supreme Court of Canada. Her career path started with her education. She holds a Bachelor’s degree from both McGill University (Anthropology, German) and York University (Law). Over her career, she has specialized in human rights, various complex litigation, as well as indigenous, constitutional, corporate, and labour law. A recipient of numerous awards and accolades, Malliha is a testament to what hard work and determination can do for an individual and the organizations she works for.

When analyzing her career path, you can see trends that you can follow to help run your business in a more cost-effective way. She’s charted a career path that any consultant, technician, lawyer, or even member of the wellness industry could model theirs after. Keeping an open mind has been critical to her success. If you take the skeleton of her choices and overlay them in a business plan, you can see how it can save you a lot of money.

1. Create an ambiance of success.


One of the keys to Malliha’s illustrious career has been that she personified success. With any business venture, you must create an atmosphere that feels like it’s on the right path. A simple way to do this is at your thermostat. Think about it. Your insulation, heating system, and ducts are working together to create an atmosphere for your clients and employees. If there is too much cold air or warm air, no one is going to be comfortable. A vent or air leak can create more issues than just heat loss and increased heating costs.

Learning how to lower your heating costs during the winter can not only save you money on energy costs, but it can provide a pleasant workplace to thrive in where everyone’s comfortable. To do this, have your air vents routinely checked for leaks. Make sure caulk isn’t worn out in areas prone to air leaks. Has your HVAC system routinely checked for issues? Also, sometimes a simple programmable thermostat can be the addition you need to lower your heat bill.

2. Focus on health.


Wellness and a healthier lifestyle were two aspects of life that Malliha Wilson focused on, though she never worked directly in the field. There are plenty of careers in the health and wellness industry she would have thrived in, however. When your company focuses on a wellness program, they tend to thrive. That’s mainly because a healthy lifestyle often equates to a more productive lifestyle.

People tend to want to work and are more effective when they do. Healthy habits transition to positive habits with work. Adding health education to the list of services you have for your employees can go a long way toward making your workplace better. Additionally, personal trainers and physical therapists can help motivate people in your business to improve their overall health. A nutritionist can help provide vital information about the foods you have in the workplace. This is also material that employees can take home to share with their family members. Providing resources and promoting a healthy environment can go a long way toward making your company more cost-effective.

3. Pay attention to details.

A final look at Milliha’s career points to an attention to specifics. Her career changes were executed with precision. The first step you can take in your cost-saving process is to stop overpaying for internet service. Just like with our energy bill, our monthly high-speed internet can be more expensive than it needs to be. Surcharges and promotional rates expire, and high hikes seem to happen on a regular basis. Stop allowing your internet provider to dictate what you pay. Search for lower options from an internet service provider. Don’t settle for prices that are higher than their current promotional offer.

With a little bit of looking and some time on the phone, you can make sure your utility bill stays affordable. If you do, you’ll be well on your way to thinking like Malliha.