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Many business leaders are known to make decisions based on instinct and put a lot of trust in their inner voice. Richard Branson reportedly said, “I rely far more on gut instinct than researching huge amounts of statistics". However, this might not be the best growth strategy tactic if you're a small business owner. If your instinct turns out to be wrong, you don't have a corporate cushion to catch you when you fall.
To avoid pitfalls of bad financial decision making, and provide your business with a better roadmap for future, you can rely on monitoring solid economic indicators - like federal interest-rate hikes, as they have shown to have a negative impact on businesses operations.
Entrepreneur Magazine suggests following three operational principles, to maintain stable, profitable operations. Read the article here.
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