When you are working for yourself you will find a few problems that you can’t solve. Here are a few problems that we have solved for you:
- Increased Competition – Competition is healthy as it forces us to review what we are doing, make improvements and go to market with an improved product or service. If we don’t improve we lose our customers as we are not keeping up with the needs of the market. By undertaking continuous improvement in our businesses we are keeping our minds active and we don’t become bored.
- Poor Cash Flow – This is something that everyone has to deal with. You need to ensure that the products and services you provide to your customers have a healthy profit margin that is also in-line with what customers expect to pay. When selling goods ensure you get upfront payment before your goods leave the warehouse or store.
With services, ensure you get a deposit or payment in full up front before you begin the work. Ensure you have payment terms drafted up by a lawyer and include them with your quote. Never allow anyone to get their goods or services upfront without payment or a contract as you are setting yourself up for heartache.
- Growth – Whether this is a business goal or it happens naturally, you will have to manage any growth your business has. To do this you will need to have solid policies and procedures and be confident in your ability to get the job done. You will also need to consider hiring staff or hiring people on a project basis. Project workers can be obtained on line through Upwork and other platforms at an International level.
If you have additional problems that you need assistance with, contact Rajiv at Bare Inc today.