Below you'll find a list of all posts that have been categorized as “Business Profits”
They say hindsight is a wonderful thing, and the same can be said about learning (and applying) business principles. I gained a lot of insights about successful business practices after I sold my business than I did from 10 years of operations. Many of the lessons came from reflection after the sale, and others were learnt during the process of …
Whether you have been in business for a number of years, or are relatively new to business, you have probably come to appreciate the realities of business. When you first started out in business you likely had dreams of changing the world, enjoying flexibility and freedom and yet you may have found yourself soon accepting that being in business is …
All too often, when presenting business owners with their end of year financial reports, I would be asked the question “Where is the profit?” The common consensus appears to be that profits should be cash in the bank. The accounting principles, however, dictate that profit is applied on the balance sheet in the form of debt payments, asset purchases, amounts owing …
n my role as Business Advisor, I meet with an average of 15 business owners a week, and of those 15, typically 3 are business owners I haven’t met previously. I am truly in my element in this environment. I thrive on meeting new people, learning about their business ideas, gaining insights into industry “quirks” and experiencing the motivation and …
Would you rather have a slither of the large pie, or the entire small pie? Are you likely to hit more targets if you rapidly fire a machine gun randomly, or take precise shots with a sniper gun aimed at a target? There is a misconception that you will be more successful in business if you service everyone and anyone. …
It is often said “You get what you pay for” with the perception of quality of product being linked to the price you pay. More often than not, this turns out to be true, cementing the belief that the amount you are willing to pay does reflect the quality of the product or service you receive. When setting prices, business …
As business owners, we all are looking for simple ways to increase the profits within our business. The common approach is to invest time and money in to marketing to attract new customers and make more sales. However, what is often overlooked, is how to generate additional sales revenue from existing customers. Afterall, an existing customer made a decision to …
Is your company planning to scale up? Are you prepared to tackle increased workload? Is the business ready to handle more demands from existing and new customers? There comes a point in time when most entrepreneurs choose to grow their business. Sometimes, it is because the business is not big or efficient enough to meet growing demands. Sometimes, it is …
Want to generate more profits? Of course, increasing turnover and enhancing product margins are all common methods of improving the company’s bottom line. Have you considered these options to reduce your overheads? Every dollar you can save in overhead costs goes straight to the bottom line. Whereas, only a portion of a sales increase turns into profit, because of the …
Running a successful business is like building a home, it takes a lot of hard work and essential materials. It certainly helps to adhere to the fundamentals of good business management. To say that these foundations can help you reach your most ambitious business goals is no exaggeration. So here are the most important pillars you need to run a …
“How did I make that much profit? I don’t have that much money in the bank.” It’s not uncommon for business owners to ask this question. But there’s a logical explanation behind it and the answer can be found in the balance sheet. It’s called ‘a statement of financial position’ for a reason. By looking at this key financial report, …
One of the most common metrics many small business owners measure is turnover. They gauge the success of their business based on the growth in turnover from year to year. When a peer asks how business is going, we boast that turnover has increased by X percent, or the dollar value of the turnover being reported. However, measuring revenue as …
