Keeping the Law of Diminishing Returns from Hurting Your Business’s Productivity

The law of diminishing returns is something that all business owners are, or should be, aware of when it comes to hiring a labour force. This law basically states that productivity grows as the number of people working grows to a certain point. After that point, each worker added actually lessens the cumulative productivity. Reaching this point and not exceeding it is something that small and medium sized business owners should strive to do. Know Your Business While knowing your own business may seem self-evident, not all business owners know their businesses as well as they should. This could be…