Growing your business is often a delicate balance of profit and volume, of changing and sustaining. This week, we’re looking at some other examples of how balance in your business can help you grow.
Thinking about switching to a cheaper supplier or streamlining your overheads to grow your business? Then it might be worth considering the
common law of business balance. Simply put, it states that there’ll always be someone who makes a product for lower quality and sells it for a cheaper price - so you
shouldn’t make a decision just based on cost. Instead, look for the balance between price and quality and make sure you don’t spend too little - or too much - on it.
It’s important to strike the right balance between continuity and change when setting out to grow your business. On the one hand, if you don’t innovate or adapt to changes in the market you could become redundant - but on the other hand, you don’t want
to veer too far away from the things that attracted customers to you in the first place. This
Guardian article gives some great tips for getting a good balance between continuity and change to maximise your business growth.
Got a great tip for how to achieve balance in your business? Hit us up on twitter or leave a comment and let us know. Have a great weekend!