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Revisiting The Basics To Ensure Your Family's Financial Future.
February 5, 2015 | Category: Future Planning
| Author: Dan Barufaldi
Source - Investopedia
Clearly, small businesses are important to us all, but only the better managed businesses succeed. In a small business, effective management means properly balancing five factors:
- Cash flow
These are referred to as the five "C"s. Let's take a look at these requirements to see how they affect small business success.
The acquisition and retention of customers are prime concerns of every small business owner because they are the lifeblood of the business, and produce the revenues that make the business run. The old saying that "nothing happens until somebody sells something" is certainly true for every small business.
Customer acquisition and retention can be addressed in a number of ways that are often industry, market, or geographically dependent....