4 Ways to Reduce Risk in Small Business

Lower prices, better negotiation, and the power walking out on a sure sale will certainly help salespeople see things your way. Not to mention, credit cards are like paying with cash, only you pay the amount of the item you purchased plus 18%. Cash is king.

"Outsource"- When possible, use someone's expertise besides your own. Why tangle yourself into unnecessary employees? Not only will you have to deal with the "people issues" but you are also stuck with their limited knowledge base, limited network, and costly skills. By outsourcing key departments like IT, HR, and Bookkeeping, you can save yourself annual salary costs. Because outsourced work is not typically done full time, you save on all the hours that you are not using with them. And when you are using them, you are getting the highest level of expertise, instead of relying on your spouse's sister that is out of work right now to help manage your company. Locking your company or worse your personal name into a mortgage (other than your home) is downright scary. One never knows what tomorrow may bring, and renting allows for a cheaper if not a quicker out.