Finance expert Mike Periu on determining the right pace of change for your company to keep your business financially sound.
There will come a time when your company will need to go undergo significant changes in the way it does business in order to remain financially viable. You may have to change your pricing structure, your business model, your product offering or where you do business. The challenge lies in figuring out what is the right pace of change; if you try to change too quickly you could destroy your business in the process; change too slowly and you may be too late to save it. In order to figure out the right pace of change, let your customers guide you. The benchmark you should use to pace your change is how fast your customers are willing to absorb the changes. In some industries, like mobile phones, customers are accustomed to seeing significant pricing changes, hardware changes, operating system changes and more on a monthly or quarterly basis.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.
