Why A Quarterly Business Review May Be Just What Your Business Needs To Survive
With three quarters the financial year behind us, your business may be in desperate need of a quarterly review. While your business needs an annual plan, monthly plans and weekly flash reports, a quarterly review has...
How to Improve Your Business the Smart Way Through Benchmarking
All business owners would like to make lots of money and be very successful. Unfortunately, this doesn’t happen all by itself. Like so many other things in life, it usually takes hard work. SMART business owners are on the lookout for ways to make improvements all the time.Continue Reading
We Manage What We Measure. How to Use KPIs to Drive Profit
KPIs show how you are performing compared to your strategic goals and objectives. If I were to compare KPIs to a road trip, KPIs are like the GPS location data, average speed, fuel levels, weather information, etc. A GPS will guide you to a destination, and KPIs will guide you to your business destination.Continue Reading
The 7 SMART Numbers You Need to Take Back Control of Your Business
KPIs or Key Performance Indicators are essential in every business. They are performance measurement tools that you look at daily, weekly, monthly, quarterly and annually. It will help you measure and predict the health and efficiency of your operations. The effective interpretation and use of your KPIs can help you with some very critical financial management tasks.Continue Reading
The 7 Key Reports You Need to Monitor Your Business
As a small business owner, you are most likely the "chief cook and bottle washer", especially when it comes to budgeting, financial management and forecasting. Wearing all those hats, you need to be totally familiar with any blind spots that can affect your business viability.Continue Reading
How Do Smart Businesses Keep Expenses Under Control?
Keeping expenses under control is one of the biggest things to consider when running a business. It's a constant balancing act. Reducing your expenses will have significant benefits for your business. If your gross profit margin is 20%, then every dollar saved equals five dollars in extra sales.Continue Reading