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One of the end goals of a business is to grow, Michael Giuffrida notes. Whether it’s adding new branches, services, products, or creating larger spaces for their offices, or acquiring competitors, expansion has always been one of the aims of business owners from the onset (or at least it should be). Image source: Pexels.com Just like any other long-term endeavor a company might undertake, expansion takes careful and extensive planning, perhaps even more careful and extensive than most other projects. The board, as well as management, should have a clear picture of what they want to achieve in terms of growth to keep the quality of their goods and services, and reputation of their brand competitive. Michael Giuffrida mentions that one of the first things to do happens even before everyone takes a step toward expansion. The company should first hire or delegate a group of dedicated individuals to the strategizing and outlining process. This will be the same team that takes the r...
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Effective day-to-day finance tips for small businesses

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What happens in monthly financial tallies is the result of day-to-day financial management. There are a lot of consequences business owners could face if they don’t properly manage their daily financial activities. Their business can slowly bleed, resources could be misallocated, and revenues would not be as big as they expected. According to financial expert Michael Giuffrida, business owners, especially of small enterprises, should know the importance of effective daily financial monitoring. Here are some day-to-day finance tips for small businesses. Image source: foundersgrid.com Hire a trustworthy bookkeeper Not everyone who goes into business has a knack for accounting and finance. This is why business owners should consider hiring a bookkeeper to help give them a transparent look at their finances. Not only can a bookkeeper have the business’ finances on track, but they can also make suggestions on assets that can be improved upon. Actively evaluate employee r...
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Business points: Important reminders when putting up more branches

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One of the biggest signs that a company is on the up and up is expansion. If a company is hiring more people, purchasing more equipment, and opening more branches, then it means it is growing, explains Michael Giuffrida of Titan Strategic Partners. Image source: virgin.com  However, business owners should be careful when making decisions for their company’s expansion. Here are a few important points to consider when putting up more branches. Timing is everything : In business, timing is always key. For expansion, the right time depends on multiple factors. Business owners shouldn’t rush expansion. Doing so would risk losing the funding that has been acquired for it. Image source: kiplinger.com No owner, no problem : If a company opens up a second branch, can the branch run without the owner in it? Is the management team capable of handling employees and clients without the top honcho present? These have to be answered in the affirmative, notes Michael Giuffrida. ...
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