One question business owners ask is “how do I make more money?” And that is a great question! How indeed?
We usually get into a discussion of where do their customers come from? How often do those customers come back and buy again? What is their average purchase value? How much profit do they make on an average sale? Etc.
Once we have clear answers to questions like these, we can develop actionable strategies to create better business results.
The catch is having that kind of information in a form that is easy to analyze. And then knowing how to analyze it to decide what to change.
A starting point is good financial reports, based on real accounting processes. Business owners do not need to become accountants. Bookkeeping can be outsourced. But business owners should learn to read and understand the reports. There is a lot of information in those reports that can be used to increase profitability. But you can’t find it if you don’t learn how to read them.
Do you have questions about the important data you need to track in your business and the best ways to do that? I can help you learn what you need to increase your profit.