5 Ways to Keep Your Small Business Growing

I don’t want to pass up the opportunity to share an article I read about 5 ways to keep your small business growing. Here are some highlights:

If you want to take your business to the next level, you’ll need to be open to the current realities of the new global economy, and get more creative.

Here are five ways to keep your small business growing.

1. Build your foundation

An enterprise that is built on aligned values, purpose, and vision will remain true and committed to their ideals, regardless of changes in the business environment, because they understand their way of doing business.

2. Focus on the flexibility of strategy

A good example would be businesses that integrate flexible work schedules for their workforce. These include the hiring of virtual assistants, which lowers operational costs while increasing the level of productivity. 

3. Outsource services

By outsourcing services, the small business owner can capitalize on comparative advantages in costs, particularly labor. 

4. Set goals to push boundaries

When you set goals, you set the direction of where you want your business to go, and this carries over to the improvement in your level of focus, work attitude, dedication, and commitment.

5. Apply the law of comparative advantage

The formal definition of comparative advantage is a condition where one partner in a deal holds an absolute advantage in production or a situation where the trading partner makes products faster, cheaper, and better.

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.

Thanks,

Robert