What Small Business Owners Should Stop Doing to Stay Sane
Small business owners get a lot of advice on things they should be doing in order to be more successful. But have you thought about things you should STOP doing? SCORE, a resource partner of the U.S. Small Business Administration, recently hosted a Webinar asking just that. It was presented by professor, author and speaker Dawn Fotopulos, who identifies four key areas where small business owners can shift priorities to improve profitability and decrease time burdens from their daily activities.
4 Ways a Business Can Improve Profitability Daily
- Ignoring your financial statements — Learn the basics of reading your profit and loss statement.
- Offering loss leader products or services — Find out how to identify profitable products and services
- Over-servicing unprofitable customers — Understand who are your profitable and unprofitable customers
- Ignoring existing customers — Power profits are generated from existing relationships, not new customers. Learn how to grow your high-potential existing customer base to relieve the burden of new customer acquisition
Small business owners can view a recording of the webinar and/or download a transcript of it at score.org/event/business-owners-should-stop-doing-to-stay-sane. Viewing this webinar requires some basic information. This data is only used within SCORE and will not be distributed to any third parties.
In addition to this webinar, there are many other recorded webinars available on SCORE’s website. You can also find a listing of upcoming LIVE Webinars and interactive courses on demand that cover a variety of business topics. Go to www.score.org/content/take-workshop for more information.
Find more tips on starting and growing your business at sba.gov and find additional resources for your business in The Partnership’s Small Business Resources Hub.