As a business owner it is vital you know the numbers that make up your business. If you don’t, you cannot successfully plan for growth or be sure you are making optimum profits. In fact, if you don’t know your numbers, you can be pretty sure you are NOT making optimum profits!
Some of the fiscal penalties of not knowing your business numbers are: paying too much tax, paying fines from late HMRC payments and paying unnecessary borrowing costs. Are you seeing a pattern yet? All of these are examples of you paying out money that should be in your pocket, profit given away, because you do not understand the numerical workings of your business.
And it’s not just financial numbers. By analysing the numbers that drive your business performance you can drive your business results up. Examples include productivity, efficiency, return on marketing spend, wastage. They differ with every business we work with although there is common ground in that the businesses we work with that know these get better results every time.
But don’t panic, you don’t have to be a qualified accountant or a mathematician to get to grips with the digits that can make or break your business. Come along to one of the Business Growth Academy’s Introductory Sessions http://business-growth-academy.co.uk/services/ to find out how we can help you to maximise your profits and keep more of your hard earned cash for yourself. As a qualified accountant number strategy is what I use every day to see hidden profit in your business and show you how you can release it.
Once you understand your company’s numbers you will stop losing larger contracts and start winning new ones, because you will know how much you can spend on each; you will have a lower staff turnover, which will save you the cost of training new staff, because you will know your team’s value and be in a position to pay them what they are worth; and you will increase sales and profits.
The Business Growth Academy is the key to unlocking hidden profits in your company, because your business growth is our business goal.
Until next time keep growing