Growing Your Business
Growth in a business is essential. How much growth, depends on your vision for your business.... Many business owners often confuse growth with expansion. Expansion is moving into new product lines, new services and new areas. Growth is increasing your capacity to continue with the products and services you have. Growth may require expansion, but expansion is not necessarily needed for growth. Growth is necessary, at the very least, to ensure that your business maintains a healthy profit margin. Expenses typically rise each year and, as such, your business needs to grow, otherwise it will 'fade' away. This is why having a business plan and regularly reviewing your businesses performance is so important! Understanding the businesses financial bottom line and how the target markets are evolving is paramount to ongoing business success and growth. Be Honest With Yourself... Sometimes, the largest obstacle any small business owner can have, is themselves. Far too often, we as ...