Many business owners struggle to explain their accounts and numbers (we’ve all seen this on Dragon’s Den). However, unless you understand the story your numbers are telling you, you are likely to be running your business on luck alone.
History has a habit of looking unfavourably towards individuals and corporations who don’t hold up to the scrutiny of modern morality. This is evidenced by the demonisation of all slave traders, colonisers and sexual exploiters of history, who often were simply doing what was ‘perfectly legal’ in their period of history.
In a small business, it can be exciting when work is overflowing. Busy times are usually indicative of success and growth. Working around the clock to ensure your business’s success can be rewarding and exhausting. So how do you know when it’s time to hire someone new? If you’re turning down work, that’s a solid sign that you do need some help in the office. However, every business will grow differently. It’s important to consider all your needs before taking on a new employee.
It may be an obvious statement but businesses need to regularly keep tabs on their expenditure. If you feel you are spending too much in certain areas then this article may help you cut business costs. QCR give you tips on how you can improve by cutting costs and lowering your expenditure.
Pricing your products and services may seem pretty simple and straightforward, however you have to put in research and time in order to get it right. You will need to make sure that your product and service are priced at an optimum level, in order to get the best profit. There needs to be a balance of quality and affordability in what you are selling to attract the right customers.
Setting objectives and goals for your business is incredibly important. Goals enable you to decide the direction of your business, as well as provide motivation because you have a goal/image to work towards. Most importantly, setting goals is a way to measure your progress.