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.
In the Movie Wall Street, Gordon Gecko said to Bud Fox: “First rule in business–Never get emotional about stock, it clouds your judgment.” I’d like to add another rule of business. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. The rule of business I would like to add is there’s simply no state of neutrality. Business doesn’t stagnate. Your business is either going up, or it’s going down, and if your strategic plan is to seek neutrality, you’re likely to go down. Today, the business owner has to be proactive to keep gaining momentum. Consider growth strategies like selling existing products or services through new distribution channels, selling information or education about your products or services online, or offering a wider selection of your existing products or services. And remember, the most successful business owners know their numbers!