It’s something that’s at the forefront of all small business owners’ minds: growth. How can we grow the business? How can we become more significant in our industry? What would it take to improve our cash flow?
There are any number of ways small business owners can ensure growth, and some of those methods are dependent on the type of business they’re running. But there are some global means of achieving growth that they can apply, usually with successful results.
Increasing sales is always the top one. That usually means expanding their customer base as well as selling more to existing customers. An increase in sales generally means an improvement in their profit margin, and if they’re making more money, they can use the extra cash to invest in business growth.
Increasing their capacity in order to service a larger client base is also a common and often successful method, as is branching out into exporting if they’re experiencing good domestic sales.
The below article looks at small business growth in more detail.
Read the full article at: www.dumblittleman.com