How to have a profitable business, not just a growing business – Credit Control and Cashflow


To print this article, all you need is to be registered or login on Mondaq.com.

Big ideas fit for a SME.

Here’s the problem: many people go into business because
they are excellent at what they do. Quite often, those businesses
grow so quickly and at such a scale that profitability suffers.

So, how do you have a profitable business and not just a growing
business?

The solution: look at how big companies run its businesses.

If we analysed how a big and successful business operates, one
fundamental principle of success would be being able to understand
what’s going on in the business and to hold its people to
account. Some of the skills and resources used are in the table
below.

1248270a.jpg

By adopting what big companies do at the right scale, SMEs can
gain higher growth and profitability and a better understanding of
business performance. SMEs will get more certainty and stability
along with a competitive advantage.

The best part is that big companies’ operations/procedures
can be learnt, developed, and put in place at the right scale into
any business. We can assist you and your clients to obtain these
advantages through adopting appropriate big business ideas. Please
contact your local Worrells contact to discuss how we can
assist.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

POPULAR ARTICLES ON: Accounting and Audit from Australia

Working capital management

Cathro & Partners

Proper management of working capital is critical to achieving business growth to generate value and strengthen returns.



Read More: How to have a profitable business, not just a growing business – Credit Control and Cashflow

2022-11-06 23:28:52

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More