Another happy customer : Thanks Pauline!! Although I am good with numbers, there is not always time to do such an indepth analysis as Tracey did. Tracey’s evaluation made it patently clear as to what my sales targets need to be, and also the areas of my business that had become financially bloated from a […]
How do I identify and communicate effective targets to my staff?
December 27, 2011 by Leave a Comment
Identifying and communicating effective targets to your staff is the key to making the profit that you want in your business. Accountants often talk about a ‘break-even point’, something I call your ‘happy day’. This is the day of the month when you know that for the rest of the month, you are making a […]
How do service based industries earn passive income?
December 13, 2011 by Leave a Comment
When we offer a service we are continually living in the ‘hour-for-money’ mindset. But as a service provider it is possible to generate income in other ways. As service based providers we are basically selling our knowledge and expertise. The key to service based industries earning a passive income is to package your knowledge and […]
How do I ensure my business is cost efficient?
November 28, 2011 by 2 Comments
Understanding whether your business is cost efficient is obviously the key to ensuring you are making your goal profit. Firstly, you need to understand that there are two types of costs. The first are variable costs: costs that increase and decrease as we sell our product or service. For example, in a service based industry […]
How do I increase profit with limited time available?
October 19, 2011 by 2 Comments
If your small business falls under the service based industry category and are charging by the hour, increasing profit can often present challenges. There are two aspects to profit: the first is your income, and the second is the expenses you deduct from that income to get your profit. I spend a lot of time […]
