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What would be the best business decision for Sasha, who …

Business Questions

Sasha has been running a bicycle delivery service for more than a year. Her business is going well, but she is having a hard time managing her accounts and keeping up with her budget. What would be a good business decision for her to make? Appeal to investors to incorporate her business. Hire more bike messengers so she can make more deliveries. Look for a partner who can contribute business expertise. Change her company to limited liability to protect her assets.

Short Answer

To improve her bicycle delivery service, Sasha should find a suitable partner with business expertise, clearly define roles and responsibilities, and regularly review business performance through routine meetings. This collaborative and structured approach will enhance operational efficiency and ensure financial stability.

Step-by-Step Solution

To improve her bicycle delivery service, Sasha should consider the following three steps to enhance her business management.

1. Identify a Suitable Partner

Sasha should actively seek a partner who can bring valuable business expertise to the table. This individual should have a strong background in areas such as finance and operations management. By collaborating with someone who has experience in managing budgets and accounting, Sasha can focus on her core operations while ensuring financial stability.

2. Define Roles and Responsibilities

Once a suitable partner is found, it’s essential to clearly define the roles and responsibilities of both parties. This will prevent confusion and ensure that each individual is accountable for specific tasks. Both Sasha and her partner should agree on the following points:

  • Financial management and budgeting
  • Operational oversight
  • Customer service improvements

3. Regularly Review Business Performance

To ensure the continued success of the bicycle delivery service, Sasha and her partner should establish a routine for reviewing business performance. This can include setting monthly meetings to evaluate financial reports, assess delivery efficiency, and discuss potential areas for improvement. By staying proactive, they can make informed decisions that will drive growth.

Related Concepts

Business Expertise

Defining and leveraging specialized knowledge in key business areas such as finance and operations management to improve overall performance

Roles And Responsibilities

The specific tasks and functions assigned to each partner in a business partnership to clarify accountability and prevent confusion

Business Performance Review

The systematic evaluation of a company’s operations, financials, and customer service metrics to identify progress and areas for improvement.