The culture of the company has a huge impact on the growth of finances and business, so we look into that.
“Sometimes business leaders are so focused on the next big deal that they forget about protecting the company culture and their culture-enhancing
plan altogether.” – Chelsea L. Wood, Insperity
Below are three issues to consider:
Need more capital to finance growth?
When you start sales, you need working capital to get orders before you get paid for that job.
If you make money from the work of others, you need to increase the number of staff. A profitable business acquires both new and retained old customers.
Every delayed delivery means you will lose as many new customers as you have quickly.
More people means more fixed costs. You should observe whether payments are increasing, and whether you have the cash from incremental payments.
In order to maintain a product stock and be ready for turnover, you need to spend more with suppliers and traders.
For example, before you design, ship, and deliver the product, you have to pay employees and sellers, in which case internal and external cash flows are uneven.
Do you have the ability to properly manage services and orders?
When there is a large flow of customers and orders for services, are you sure you haven’t missed a gap? Is your finance department properly prepared?
The last thing you can see is whether you have a net profit. Small companies may have only one person who receives orders and fulfills all accounts receivable obligations.
As your business grows, can this person mobilize all the documents on time? Do you have established procedures for providing accurate information?
Achieving results is a huge triumph for any small business owner.
Now is the time to check the financial transactions of your business to make sure you are not blindly managing it. If you are not able to make timely, accurate and meaningful assessments then the outsourcing team will be able to do so.
Need to hire more staff?
As your business grows, so do employees. Regular staff do more work to meet increased demand.
When you value values and company culture, you increase your chances of attracting the best staff. Specifically, those candidates who care about your business and are more productive performers.
If you need to hire staff, but hire them in advance, make a salary that you would not increase if the demand for the product did not increase.
On the other hand, you hire a new employee and train exactly when you need them, and new employees may start hiring.
It is important to know that the biggest selling is not related to the client.
The key player here is an employee who joins your company and helps you build a quality team.