Managing and Growing
ManagingManaging a business can be like trying to juggle five balls in the air, when you are only able to juggle three. Some balls get dropped. Most business owners start off self-employed, and then add staff, products, services and layers of complexity as the business grows. The problem is that small business owners don’t know how to manage larger and larger businesses, or they’re too busy being in business and bringing in the cash to worry about managing it. | GrowingAs a business owner, you look for measures of success and signs of a vibrant and growing business – more sales, increased services, diversified product range, larger premises, more profit. But growing your business just for the sake of growing can lead to potential traps, such as overtrading, exporting when you are not ready, adding capacity before demand catches up, or increasing overheads that can’t be covered if there is a sudden drop in sales. |
