5 Tips on Conserving Capital

capital

1. Determine your primary business of units sold, customers sold, average order, hours billed, etc. Know what drives your business.

2. Pricing should be determined by the sum of product costs, service costs, image of the business, direct and indirect costs and a reasonable profit.

3. Conserve capital. Do not commit cash or capital until necessary. Don’t buy services before you need them.

4. Lease instead of buy when it makes sense.

5. Look for office equipment that can do double duty, for example a fax machine that can also make copies.

Brought to you by SCORE “Counselors to America’s Small Business.”

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