When Do You Need Professional Business Advice?

One of the reasons people go into business for themselves is they like making their own decisions, so taking business advice from some unknown outsider is something entrepreneurs might naturally resist. But we all know the eighty-twenty rule: When a business grows, founders spend eighty percent of their time dealing with twenty percent of the issues affecting the bottom line, and twenty percent of their time dealing with concerns influencing eighty percent of the bottom line. That’s exactly backwards.

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Four Sections to Include in a Business Growth Plan

When you start a business, it’s important to have some idea of where you’re going in terms of growth. Start-ups want to become small businesses and small businesses want to become more profitable, bigger businesses. Part of the way to accomplish these goals is to implement a business growth plan. This plan helps business owners strategize about how to make that necessary growth happen in the most effective way. Here are four areas of growth that should be included in your plan.

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Business Analysis: A Starter Pack for Improving Business Practices

When you started your business, you probably had a very clear idea of what you wanted that business to be. However, as they say of the best laid plans of mice and men, your perfect vision of your business may not have turned out exactly the way you expected.

Don’t be discouraged by this — it’s the nature of every project. Plans go wrong, deadlines aren’t met, wildly unexpected things appear to throw a wrench in the works. The true mark of a successful business isn’t how close they get to that perfect vision on the first try, but how they’re able to correct for mistakes and how quickly they get back on course when these inevitable mishaps occur.

That’s why business analysis is so critical. It forces you to pause and take stock of where you are and where you’re going, and, most importantly, what you can improve.

To that end, we’ve outlined some brief questions that help foster a meaningful, effective business analysis to make your company more like the one you envisioned when you started out.

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