The process of growing a small business generally involves two kinds of significant financial outlays – working capital investments for operational growth factors like hiring employees and managing overhead increases, and fixed capital investments for the acquisition of equipment and other hard assets.
Pricing goods and services is a point of severe tension for businesses. Too high and you fear turning buyers away. Too low and you make no profit. So you aim for “just right.” What is “just right?”
Small business owners face many challenges as they grow their companies, from operations and finance to marketing and sales. One of the greatest challenges to scaling a small business, however, is talent.