A good many startups I know have been “successful” over a couple of years in overcoming the challenges of starting the business, including incorporation, services development, funding, and setting up operations. Yet they still haven’t achieved a healthy growing profit, even though this was one of the main reasons they went into business for themselves in the first place.
It’s no fun on this plateau, just “making payroll,” and watching some employees make more then you as the founder. At this stage you were expecting to be working on creating a good business valuation to attract future buyers, or at least funding college accounts for your kids.
If you are in this category, first know that you are not alone, but then you need to take a look at the advice given by Patricia Sigmon in her new book “Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses.” I recommend her six tried-and-true tips to deal with the challenges that may be holding back your profits:
To read the full, original article click on this link: Startup Professionals Musings: 6 Tips for Services Startups When Profits Plateau
Author: Martin Zwilling
