+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Assertively successful entrepreneurs know how each piece of their company contributes to its growth, and they manage to make the company work as an operational whole, rather than independent parts.
The way the goods and services you sell directly influence the bottom line is fairly straightforward. However, the profit or loss of your operation is often an after-the-fact report, not an ongoing process. An assertive entrepreneur will drill deeper and understand how well the business operates by understanding why each person, action, and expenditure adds value to the bottom line.
To do this, you need to take each micro activity in your company, such as implementation of ISO 9000 standards and guidelines for quality, and understand how it increases your bottom line. By doing this, you’ll gain an intimate understanding of your business that will give you greater control.
If you intend to raise outside capital, this knowledge can make you stand out from your competitors when you make your pitch for that investment dollar. As you detail every aspect of your business, you are building a document that you can use as your business plan.
Marilyn Holt, CMC
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.