The year has just started, and we are looking on ways on how to grow our business and our profits.
Usually, by now we should have prepared our next 12 months plan of what are we going to achieve by the end of it.
We cannot just leave it to that and regret why we haven't achieved this or that target.
Reviewed on a monthly basis and realign the targets on a quarterly basis. The purpose of this review:
- Know what our bottom line by the end of each month would be?
- Monitor our funnel of leads? Lead conversion? Customers?
- What are they buying? How much are they buying?
- What are our marketing strategies? Investment? Expected return?
- Track our financial performance and cashflow?
- What products are we going to market?
- Make sure we have the right supply chain!
- What are the training programmes that we will be implementing?
- What staff we need to incentivise/promote?
- What new team we need to recruit?
- What is the impact on our bottom line? Amend accordingly
If you are keen on growing your profit? You need to plan correctly, for smaller businesses track on a weekly basis, gather as many data as possible. If you are sailing, make sure you are steering in the right direction rather than drifting.
Control what might affect your business and use it to your advantage. Look at the half full rather than the half empty.
It is a simple process. If you haven’t attended any of my seminars, call me, will have a cup of coffee and see how we can help you achieve your goals, and make more profits.
Happy New Year