How To Make 2014 More Profitable
With the New Year rapidly approaching, how confident are you that your business will be more profitable? A recent survey in the Q3 LegalZoom/Kauffman Startup Confidence Index found that 86% of small business owners are “very confident” in the profitability that lies ahead for the next 12 months.
Here are four moves to make now to assure a profitable 2014.
1. Market More
Marketing helps keep your businesses name on the tip of your customer’s tongues. It’s often considered an expense, but the outcome can far outweigh the initial cost in the long run.
2. Spend Time On Existing Customers
Preexisting clients are very beneficial. It’s much harder to attract a new patron then it is sell to repeat customer. The holidays are here, making it a perfect opportunity to touch base with your clientele.
3. Trim The Fat
Auditing your expense accounts can really open your eyes. Try to cut cost back and make sure your money isn’t going to waste.
4. Run Lean and Mean
It’s still possible to grow your business with a small staff behind you. Many of the business owners surveyed said they don’t plan to hire in the next 12 months. A great alternative to hiring new staff members is using temporary workers or freelancers to handle any excess work you may not be able to handle.
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