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Home » Business Planning
Every business owner or manager knows that in order to succeed and grow the business, some big thinking is often required. But how high should you aim?
Many businesses are stuck in the outmoded approach of time based billing, undercharging and setting fees based on what the competition is charging; a situation where the customer and the market is driving your rates and not you. Value based pricing advocates that the customer is the ultimate arbiter of value.
Outsourcing is not just a strategic option for large international corporations, small and medium sized firms can benefit too from the efficiency, functionality and cost savings of outsourcing. Outsourcing simply means “contracting out” various functions of your business.
Building a good business is one thing. Knowing when it is time to sell it is an entirely different matter. For many entrepreneurs it’s not enough to build a business, they have to make sure to have an exit strategy, a way to get the money back out.
If you are buying a business remember there is no longer relief on goodwill.