Q4 is the most profitable time of year for many business owners. Here are 4 ways you can reinvest surplus cash into your company.
of year. For some entrepreneurs, the surge in profits can provide extra cash that they can invest back into their companies.
David Manshoory and two experts shared the four ways business owners could reinvest their profits from this year into the future of their companies.Inventory doesn't refer to only what's on the shelves. It can also reflect what's going to be purchased and how it's going to be sent to customers, Manshoory said.
Business owners can also use surplus cash to conduct research, both online and offline, to understand what their customers want, Franklin said. Manshoory's marketing efforts for Alleyoop are ever-changing and can be pivoted based on the season, he said. For example, the brand's messaging went from"on-the-go beauty" to"decluttering your routine" when COVID-19 hit.
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