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 most common strategy I employ when a business owner asks me to scale their business and make it more valuable, is getting the business owner to work on their business instead of in their business. My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute. The small business owner needs to get out of the small day to day activities of the business and needs to work on bringing more business into the company and implement more systems and doing more strategic and people planning. In the long run, this strategy will not only make the company more profitable, but it’ll also make the company much more valuable. After all, if you were buying a business would you rather buy a job, or buy a business where everything runs systematically without your involvement? And remember, the most successful business owners know their numbers!