Biz Math 101 Business math 101 is so simple we can cover it in a few paragraphs. You buy some raw materials and throw them together, or you buy at a good price, and you sell the end result for more than you paid for it. Hopefully, much more. That extra is called Gross […]
Business Profits
Setting up a Small Online Business- How to Profit from Free
Steve P wrote to me recently and asked if I could write an article about how he could make money as a musician. Or more specifically, “…about setting up small Online businesses & how to ensure that the websites receive traffic?” “Personally I create music which many people say they enjoy listening to… ideal […]
How to Double Your Profits and Save Your Life – Part 2
In the last issue, we spoke about the different ways of increasing your business profitability, with four options. While sales increased “only” 80%, Net Profit increased fourfold and Net Margin more than doubled. Remember, Net Margin is the only real focal point for your small business. Lack of cash flow is the symptom of […]
How to Double Your Profits and Save Your Life – Part 1
Cash flow is the only real focal point for your small business. It’s a mistake to focus on sales volume because it’s not what you make that is important, it’s what you keep. What you keep is what fuels the next cycle of purchases and operating costs that sells more and ensures you can handle […]
7 Steps to Improve the Profitability of Your Frontline Staff – Part 2
We looked at four ways that you can improve your staff productivity last time. Today, I have three more I want to share with you. Let’s break them down as we go. Step 5 – Train Well and Often Product Knowledge: If a salesperson knows the benefits and features of a product, they are […]
7 Steps To Improve the Profitability of Your Frontline Staff – Part 1
Why It Starts With You Some owners or managers get majestically miffed when I suggest that at least 70% of their business problems are caused by them. Especially when they’ve just spent 5 minutes talking about their hopeless staff. Well, who hired them? Step 1 – Hire the Best People So, select extraordinary staff and […]