Many small business owners, even those not selling consumer goods, experience an increase in revenue during the holiday months. While some business owners are celebrating the now, smart entrepreneurs are focused forward into the next year. With the influx of capital from holiday sales you need to determine whether it is most advantageous for your business to save the money for a future downturn. or reinvest the profits in order to expand. If significant growth is one of your goals for 2015 the influx in capital from holiday sales may be just what you need to get position yourself for growth. In order to determine if you should spend the money, and on what I recommend first setting your 2015 goals and evaluating potential opportunities. Read more!
Startups and growing businesses in the one to five year range normally have their own set of challenges to contend with. Here are a few simple but powerful tips to grow and sustain a small business.
1. Setting Smart Goals
Goals are the invisible force that can keep a business moving forward relentlessly. Without goals, a business would lose perspective and motivation. By setting the right goals, a business can be given laser sharp focus, which would then move it closer to achieving that goal every single day. However, it is important to set the right goals. The goals would have to perfectly align with the vision of the organization. The goals should also be achievable and realistic. Unrealistic goals, how much ever noble they are, can discourage employees and instill a sense of defeat. Read more!