As many small business owners know, starting your own company can be overwhelming; especially when time management is a skill that’s often earned through years of experience. That’s most likely why nearly 50 percent of small businesses fail within the first 5 years. While it may seem like the odds are against you, there are steps you can take as a business owner to ensure the profitability and longevity of your company. Below are three ways that small businesses can save time and money by investing in commercial video conferencing services, which will keep you under budget, on time and on task.
1. Time Management
Did you know that in the United States, there are 11 million business meetings every day? That’s 458,000 meetings every hour or roughly 1,375,000 meetings every business hour. It’s no wonder that a study conducted by NFO Worldwide found that 37 percent of employee time is spent in meetings. In fact, the typical in-person meeting averages 1 hour and 44 minutes, whereas meetings conducted via video conferencing averages only 44 minutes. NFO Worldwide also found that in-person meetings require the most time in preparation, meeting time, and follow-up.
2. Cost Management
The cost of sending employees all over the country is one many small businesses can’t afford. The Global Business Travel Association now expects total U.S. business travel spending in 2014 to grow 7.1 percent year over year to $293.3 billion. For a business to stay competitive in this age of ever changing technological advancements, utilizing commercial video conferencing is a must. Incorporating video conferencing solutions into your business provides the opportunity to do business on a global scale at a fraction of the cost.
3. Operational Inefficiencies
Providing complete stability, exceptional support, and top-notch security are three features essential for corporate video conferencing. Using free video conferencing services like Skype and Google Hangout is great for wishing your grandmother “Happy Birthday” or catching up with your old college roommates, but if you are conducting a professional meeting, you want to ensure your solution is just as prepared as you are. No only are these services lower quality, but your security and support on an overall unreliable network are also compromised. Businesses today need a video solution they can trust to be IT free, secure and high quality.