Decision Making

Over the next Several Weeks we will be posting a new and different one-minute video providing business tips and instructional commentary for small business owners.   These tips will range from key metrics to consider to the importance of Business and Cash Flow Forecasting.

The number one reason why a business fails is “Poor Decisions”. 

Not taking Care of customers 

Running out of money

Poor Planning

Inadequate Financial Management

Failure to innovate

These are all a function of Poor Decisions.

My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute.

So, if poor decisions are the root cause of business failure, how can decision-making be improved? 

  1. Take care of customers
  2. Have a strategic growth plan
  3. Know your Customer
  4. Consistently add value to your products and services
  5. Pay attention to financial management

And remember, the most successful business owners know their numbers.

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