Know Your Finances


  • 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



  • 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



  • 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



  • 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



  • 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



  • 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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