titanfinancialpros

    • Know Your Finances

    REVENUE

    • Where is your revenue coming from?
      • What’s making you the most money
      • How do you scale your product to make more money
    • Who are your top performers and what are your competitors charging for the same thing
      • What are your top 3 performers
      • What are your bottom 3
    • Analytics are key
      • Key performance indicators
      • If you know where you’re making the most money, why not do more of it

     

    OPERATING EXPENSES

    • Knowing what your expenses are and how much they’re costing you is extremely important
      • Today there are so many different vendors that you can buy from
        • How do you know which one is giving you the best rate over all the others
    • Inflation is currently at one of its highest points right now
      • Stay on top of your expenses, make sure you’re not overpaying for items
    • Using a different vendor
      • Make sure that you’re getting the best price
      • This could enable you to offer a more competitive rate to your customers

     

    EXPANSION

    • How do you know when to expand?
    • Acquisitions, Footprint or Pour gas onto the fire
      • Do you acquire another company
      • Do you open another location in the next town over
      • Or do you throw more money into what you’re already doing to get more results
    • Cash Flow is key

     

    STAY ON TOP OF YOUR FINANCES

    • One of the most important things that every person should do is to know their numbers
      • How much are you making
      • How much are you spending
    • What’s making you the most and what’s costing you the most
      • What are your margins
    • What are your best sellers and your worst sellers

     

    CREATE A BUDGET

    • One of the most important things you can do for your business is to set up a budget/projection
      • Have clear targets
      • Track your targets
      • Are you close to meeting them, if not, why not
    • Planning regularly also helps you deal with change
      • Nothing is ever the same all the time
      • The only thing that stays the same is the fact that everything changes at some point
    • Be on top of the change instead of getting lost behind it

     

    GOALS AND EXPECTATIONS

    • Setting the right goals for yourself
    • Don’t procrastinate
      • If you procrastinate, a simple follow up becomes an issue that you need to deal with or a person you’re trying to avoid, which often becomes bigger issue
    • Organize your tasks
      • The more organized you are the faster you’re likely to get something done
    • Software
      • Use some sort of software that helps you and stay on top of it
    • Outsource
      • Don’t take everything on by yourself, automate and outsource your work where it’s needed

     

     

     

     

     

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