Information for all of us entrepreneurs to consider!
Content contributed by Lisa Wedin, University of Alaska Extension
In the book Streetwise Finance and Accounting for Entrepreneurs Suzanne Caplan discusses seven problems that can threaten a business. There are many difficulties associated with running a business. It can be difficult to tell what is a problem and what might just be a bump in road. Here are seven red flags that you can remedy and strengthen your business.
1. No Growth: Flat growth in revenue can mean lost volume. Costs are rising so your revenue needs to meet or exceed those direct costs. Periods of no growth are part of the business cycle. You may need to start an aggressive sales and marketing campaign. Price cuts are usually not a good way to do this since the goal is to make a profit.
2. Low Productivity: It is much easier to determine your productivity if you are…
View original post 334 more words