Imagine a set of business decisions that could slash your costs and boost return on investment, profits and return on sales. Though the jury is still out on a perfect correlation, at least fifteen studies in the past twenty years have suggested a positive link.
No matter what industry you’re in, money is the great unifier among small business owners. Whether you’re spending it, trying to keep track of it, or (hopefully) making it, money is always on your mind. And there are a few things every business owner needs.
Your company will benefit from an internship program if it’s a priority for your business, structured, and provides students with the supervision they need to be successful. By also providing adequate training before the program begins or hosting an intern orientation, you’ll see even better results. The more resources your company is willing to put toward the internship program, the better it will be. The better the internship program, the more competitive it will be. And the more competitive the program, the stronger the applicant pool.
If you have a great program, you’ll attract great students.
Drawing perspective from anyone outside of your industry, team, or day-to-day operations often courts surprising inspiration. Properly-executed internship programs are no exception. Bringing in students who don’t see your company from the inside every day opens up an opportunity for fresh perspectives on your business, strategies, and plans. To maximize these potential benefits, make sure to include interns in brainstorming sessions and encourage them to speak up in meetings. Attending brainstorms is often a favorite among interns, so it’s a win-win for both parties.
Trying to run a business without managing cash flow is like trying to paddle a boat without an oar. Even if you succeed, it will be an upstream exercise guaranteed to wear you out. Cash flow is important for all businesses, but it is critical for early startups.