According to the SBA, one of the top reasons small businesses fail is due to poor accounting. In other words, they’re not looking at the numbers or aren’t looking at them consistently. Do you have a system or process in place to monitor your cash flow and profits? If not, how do you know when you’ve achieved your financial goals? How will you know which marketing strategies and networking efforts are paying off and which ones are not? The numbers tell all! Tracking and monitoring your numbers on a monthly basis is not optional, it’s a requirement if you’re going to succeed as a business owner.
Below are 5 keys elements to increase your profits and ensure you stay in the black (making money!).
- Clarity – Get clear about where your business profits are now. Then identify what your annual profit goal is or essentially where you want to end the year.
- Focus – Focus on what you want to create based on step #1. Don’t allow today’s distractions keep you from achieving the financial success you desire and deserve. When you focus on not having enough money to pay your bills then that’s exactly what you create.
- Create A Strategic Action Plan – Identify the actions necessary to achieve your financial goals.
- Take Consistent Action – A goal helps you articulate that which you desire but consistent action will create the results and success you desire.
- Monitor Your Results – When it comes to growing your business and keeping your profits in the black, you must monitor and track your results monthly.
Do you want a step by step action plan to accelerate, increase and maximize your profits? If you answered yes, I invite you to join me for Profit Explosion Live! We’ll work together to create your personal Profit Game Plan so you achieve your revenue and profit goals, attract more clients, price your product and services and ultimately add thousands of dollars to your bank account! Get all the details about this fabulous event and bonuses here: www.ProfitExplosionLive.com.