A classic definition of an entrepreneur is someone who builds the ship while they are sailing it. This way of doing business works fine in calm waters but fares far less well in the kind of storm that descends if a company experiences sudden, explosive growth.
While every company want to expand and finding yourself in a situation where sales are taking off will make you the envy of many, the reality is that rapid growth can be as much of a foe as a friend and failing to deal with the issues properly can actually set your company back. Read on for a few tips on how to make the most of such situations.
Isolate the causes
If your company is growing much faster than expected, it's important to identify exactly why, so that you can work out the best way to respond. If it is due to market conditions beyond your control, factoring this into the equation will make it easier to predict
How to deal with rapid business growth
With a lot of people working hard to pay their bills, and often having no money left over for personal rewards, let alone substantial savings, putting extra money into savings can be a tough task to fulfil. However, it’s important to remember that even the tiniest amount — even if it’s $5 a month — will all eventually add up, and be better than nothing. Here are 4 tips to get you started on a better savings path. Get Out of Any Debt First There is no point planning to put money into your savings if you have a backlog of debt, no matter how small. Although any form of savings is a positive, it’s much better to use any extra money to clear debt in order to get straight with your finances and avoid paying extra due to interest charges. As soon as debt is cleared, the monthly amount you usually pay in minimum debt payments can then be a bonus for your savings pot. If any de 4 Tips for Increasing Your Personal Savings
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