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Want to boost your business skills?
Welcome to our free learning center where you will find
- Quick tips
- On-demand training videos
- In-depth how-to guides
- Success stories, and much more.
Have you ever wondered who should be involved in the price strategy conversation?
Of course, you as the business owner should be involved.
But, should your sales team help?
What about your accountant?
You're in the right place...keep reading to learn who should be included in the process an...
Have you ever reviewed your profit report and celebrated an increase in sales and profitability? You gave everyone a high five and announced year-end bonuses.
A few days later the celebration was over after your bookkeeper asked you to transfer money for payroll.
You wonder what happened…how ar...
When it comes to increasing profitability, it is common for business owners to feel like Dorothy when she visited the Wizard of Oz.
Studying numbers can feel intimidating or scary.
0:11 Profitability is a simple math formula.
0:32 Did you know you can control profitability? Inst...
Have you ever wondered if your business is as profitable as it could be?
It’s hard to know when you only have your historical financial reports to compare to.
The quickest way to answer the question is to calculate the profitability gap.
What is a Profitability Gap?
A profitability gap is the ...
Owners are quick to tell me they are very profitable.
But, later in the conversation the owners share the rest of the story when they say things like…
- I don’t pay myself a salary…yet.
- I sometimes struggle to pay my bills on time.
- I use my line of credit to make payroll.
- I cannot afford to h ...
When our employees make mistakes, it is easy to brush off the small investment it takes to make the customer happy. But, have you stopped to calculate how much the mistake really cost your business?
Watch this video to see how much you need to sell to breakeven on the mistake.
Bottom Line
- Co...
Would you rather…
Sell $500,000 after 20% discount
Or
Sell $300,000 after 5% discount?
Check out this video to see the powerful effect discounts have on sales, profit and cash flow.
Would you rather sell more or save more money? Check out this video to learn how each activity boosts the bottom line in your business.
Spoiler alert - financially stable service companies require managing all three - sales, profit and cash flow.
You May Also Enjoy...
It is easy to start a company and learn how to sale your services and deliver what you promised. But, do you know the other 4 steps of a healthy business cycle?
Watch this video to learn how to complete the entire business cycle. Spoiler alert...you may be missing the business finance side of the...
In this video, you’ll learn how the following affect net profit and cash flow:
0: 25 Business income taxes for “pass-through” entities
1:44 Loan payments – interest and principal
2:57 Replenish cash reserves
3:37 Replace old assets to maintain current sales level
4:3...
Unfortunately, this happens more often than you might think. Business owners and managers enjoy watching revenue soar but shift the focus to generating new sales instead of making sure all of the cash generated by the business is used wisely and collected on time.
First, it’s important to understan...
Revenue, profit and cash are all needed to operate a healthy business. But they are very different numbers and tell different stories about your operations.
In the perfect world, your Revenue, Profit and Cash balance will grow at the same rate. Unfortunately, it’s common for businesses to generate ...
