Business growth and profitability. Most entrepreneurs would consider these to be the Holy Grail of business ownership. So it’s not too surprising that many participants in the financial workshops I lead are surprised when I tell them that instant profits and rapid business growth aren’t always a cause for celebration.
“How can this be?” you might be wondering. The best way to explain it is to tell the story of the Wonder Widget Company. Haven’t heard of them? Well, this is a fictitious company I made up to help me explain business financial concepts in an easy-to-understand way.
The majority of small business owners are increasing their use of the Internet and social media platforms to grow their business, according to a new survey conducted by Citibank. It was also discovered that small business owners under the age of 45 are the primary drivers of increased online efforts.
