As a small business owner you are always trying to achieve profitability. You can watch all your expenses, but there is much bigger factor, which might account to ten times or hundred times more than any saving you can make.
Doug former Google.com employee wrote in: Iâll get right on that. EventuallyÂ little bit about that.Â
“Sergey once asked a large assemblage of Googlers what our greatest corporate expense was. âHealth insurance!â? was one answer shouted back. âSalaries!â? âServers!â? âTaxes!â? âElectricity!â? âCharlieâs grocery bills!,â? came back others. âNo,â? said Sergey. âOpportunity cost.â? He explained that the products we werenât launching and the deals we werenât doing threatened our economic stability more than any single line item in the budget. It became a regular call and response at staff meetings and added to the sense that no matter how hard we were working, success was slipping through our fingers. Rather than cause employees to feel defeated, however, it became a rallying cry to redouble their efforts.”
This should be number one quest for every small business owner. Not to loose opportunities. Teach everyone inside of your corporation to have eyes opened, listen to customers, think about how the business can be improved or what deals can be made.« Return to all articles