Successful businesses need to think about keeping their three-legged stool in balance in order to keep their business from wobbling or tipping over. Each leg of the stool consists of the following business practices:
· Products & Services The product made or service provided by the company if you dont have a good service or product to provide to customers, the business could run into problems.
· Sales/Marketing - without sales a business is dead and marketing is the precursor of revenue generation.
· Financials - money is the lubricant that keeps the business machine running a machine that is well lubricated will run forever with few problems.
And finally the seat that is management, the component that keeps the 3 primary legs of the business together: sales/marketing, product or service and finance. The better these three legs work together, the better the organization functions.
Today's Small Business Development Tip came from the San Luis Valley Small Business Development Center courtesy of the Sirolli Institute.
This message is being brought to you by the Colorado Small Business Development Center (SBDC) Network. The SBDC is part of the Colorado Office of Economic Development & International Trade (OEDIT). The Colorado Small Business Development Center (SBDC) Network is dedicated to helping small businesses throughout Colorado achieve their goals by providing free, confidential counseling and various training programs. The SBDC combines information and resources from federal, state and local governments with those of the educational system and the private sector to meet the specialized and complex needs of the small business community.
For more information on the SBDC please click here. For more information on OEDIT, please visit www.AdvanceColorado.com
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