Could your company benefit from the 4-week challenge? Often as business owners we forget to work on our own companies. Take a look at this article from forbes.com to find simple daily steps and ideas for improving your business. Give it a try. Spend a little time each week to focus on the four key categories shown below that can grow your business – and even take it to the next level.
“The more you know, the more you can grow.” Starting your business is just the beginning! Setting up your business to scale can prepare you for growth opportunities. Understanding customer data and potential client needs is one of the key steps for scaling your business. Learn more in this article from Inc.com to discover all 7 tips that play a role in growing your business quickly—and the easier it will be to scale.
Is your accountant acting as a thought partner to fuel growth in your business? They should be if you have the right one. Great accountants can provide insights that deliver value-added benefits, analyze company data and provide strategic advice to help support business owners in important decision-making efforts. This article from entrepreneur.com discusses why having the right accountant is more than just for preparing taxes.
Attention Business Owners! 6 Steps to GROWING your business!
Monthly financial reports – Know your financial story. Analyze and review financial reports every month so you know how your business is operating.
Increase your cash flow – Can you ask for deposits? Change your terms to Net 15? Why not?
Sales plan – In order to grow, you need to establish a sales plan and have achievable goals for the future.
Know your nut– How much money do you need to keep a positive cash flow?
Equity-build plan – If you want to grow your business, you need to first build equity to support that growth for hiring additional employees or purchasing more equipment or both.
Have the right banking partner – It’s crucial to find the right banking partner to facilitate your company’s growth.
Growing your business takes planning, discipline, execution and follow-through. Controller onDemand wants to help you grow your business, in the right direction!