Are You Making Enough Profit to Grow?

Posted by stillwagon428 under Finance
From http://www.openforum.com 5557 days ago

I have spoken to many small business owners recently. I wanted to know from them what their plans to grow are. This is what I realized when I talked to them.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by ShawnHessinger
5557 days ago

Good food for thought on growth and profit margins. Of course, the best approach of all is to keep expenses as low as possible in the beginning to develop cash flow. Try consulting or another low cost service that requires only your time and experience. Then invest as you develop cash flow in new products or services. Avoid big investments with high risk on return favoring small investments with greater return on products that can be sold immediately. Focus on increasing overall cash flow while keeping expenses low and avoid adding fixed overhead too soon before you can be sure of stable earnings. Partner with other entrepreneurs to scale your business without adding staff thus avoiding another fixed cost that may need to be scaled back when times are tough.

- 0 +