The top 5 tips weekly post gives hints and tips to small, home & micro business owners.
- If you have to use specialist equipment in your business, it often makes better sense to lease it rather than to buy outright.
- Try to purchase office equipment that will perform multiple functions, such as a fax machine that doubles as a copier.
- Base your pricing on the sum of your costs and the image of your business, then add a reasonable profit.
- Know what drives your business: units sold, customer statistics, average orders, hours billed etc.
- Conserve your capital and only use it when it is absolutely necessary – do not purchase services until you need them.