5 Big PROFIT DRAINING mistakes SME businesses make
You’re stressed out and wondering whether you made the right choice.
There are many reasons to love running your own business: more freedom, a better work-life balance and total creative control. However, there’s no denying that money matters an awful lot, too.
As a business owner, there’s theoretically no limit to how much you can earn. Gone are the days of asking your boss for a pay rise; if you want extra income, it’s up to you to get out there and earn it. The flip side to this is that there are no guarantees, either, and the sad truth is that many small business owners would be financially better off working for
Furthermore, research by the US Small Business Administration found that 50% of small businesses fail within the first five years. A lack of funds is the biggest threat to an organisation, so careful money management is an absolute must.
Don’t despair and go running back to the day job. If you’re not making as much money as you’d like to, it’s time to take a look at your business and root out the mistakes that are eating into your profits.
It’s possible to enjoy all the benefits of running a business and make much more than you ever could working for somebody else.
Entrepreneurship is a risky path, but the rewards are worth it.
In this eBook, we’re going to take you through the common mistakes that we see our clients make time and time again. It’s essential that you work hard to maximise your profits right from the very beginning of your business to ensure that your company will not only survive but thrive, in years to come.