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3 Common Habits That Bite into Startup Profits

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Introduction

As an IT business owner, you're a master multitasker. You understand that writing code is just the beginning of what you have to do to succeed on your own. But what you may not realize is that, in some cases, the very things that make you lean, agile, and effective may also put your long-term profits in jeopardy.

For this eBook, we talked with entrepreneurs, legal experts, business leaders, and others about the way our customers run their businesses (according to information we gather during the application process). Those conversations revealed three common business practices that have the potential to hurt profits. In the pages that follow, we identify what those practices are, why they put you at risk, and how you can make small changes in your business to keep your profits strong.

When we look at the profile of a typical tech startup or small IT business, this is what we see:

If these habits don't sound especially risky to you, you're not alone. But the fact is that they can threaten your business's profitability in ways you may not have considered. Read on for tips from experts to help ensure that you're building habits that maximize your profits and minimize your risks well into the future.

Next: Bad Habit 1: Doing Everything from Home

70% of businesses raise prices or cut hiring when sued