Management

As your business starts to take off, you may find yourself with a good problem: more work or orders than you can currently handle. If you are unsure about future demand, should you go ahead and hire additional staff or expand your manufacturing capacity? 

October is National Cyber Security Awareness Month, so it’s a good time to check your business’s cyber health. 

No matter how steady your profits or loyal your customers, your business will eventually need money to finance its growth. The choice between small business loans and credit cards is a fluid one; most entrepreneurs will use a combination of both to meet their business targets at some point.

Whether you’re an ambitious entrepreneur or an industry titan, you have an important choice when building or expanding your workforce. Do you recruit employees – individuals who will build value by championing a business objective long term? Or do you bring in contract workers – experts who will jazz up, prune, fix, build, (or do anything else you want), and then leave?

Whether it’s your first or your fortieth, hiring a new employee is a big step. But how much does it really cost? It’s more than just their salary. The cost of an employees is usually 1.25 to 1.4 times their salary, depending on the benefits you offer and other things.

A strategic plan is different from a business plan. A strategic plan is more dynamic and will change and grow with your business. Here are 4 Steps to creating a strategic plan for your business.