How fast can I grow my small business?

how fast can i grow my small business

Many small business owners ask the question, “How fast can I grow my small business?”  The simple answer to this question is, “It depends on how much capital you have.”  I will use the example of a boot-strapped Service Company.

You start your business with $10,000.  You buy a desk, a chair, and a computer.  You land two new clients which means that you are making enough money to pay your overhead, pay yourself, and still have a little money left over.  Congratulations, you are on your way!  You land two more clients.  Then, you find that you can’t handle all of the work by yourself anymore and you need to hire some help.  You hire some help.  You are still able to pay your overhead, pay yourself, pay your help, and still have some money left over.  Your small business is growing and you are managing your growth in the most perfect way possible!

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4 Easy Ways to Cut Business Costs

cut business costs

As a business owner, you’re probably wondering about ways to cut business costs. It takes time to build profitable revenue streams and carve your niche in your industry. Therefore, you’ll need to be as profitable as possible in order to help your business grow.

Let’s take a look at four easy ways to cut business costs. These methods will give you some ideas on how you can help your business move forward through smart financial planning.

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What is a Cash Flow Forecast and how can it help my business?

cash flow forecast

The key to avoiding a cash crisis in your business is to have as much visibility as possible into your Company’s future cash flow.  A cash flow forecast can help your small business plan more effectively.  If you can look into your Company’s operating results in a quicker fashion, you can make changes to your business quickly if you need to.  Before you make a cash flow forecast, make sure that you track your financial results in real-time (as in right now).   Most companies receive their financial statement two-to-three weeks after the end of the month or in some cases, much longer.  That is a problem because you are now reviewing history and therefore reacting late.

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