If you would like to learn more then we invite you to watch our Maximise your Profitability webinar
As business owners ourselves, we’re always looking at ways to improve our profits and the profits of our clients.
We have identified 8 key internal documents or information that will help you to this – here are 4 for starters:
1) Business strategy and goals: It is important to consider your short-term and long-term goals. For example, if you decide to reduce your staff costs to increase your profits, what will be the long-term implications to customer satisfaction?
2) The businesses key performance indicators: ensure you compare results for the past 3 years to identify which areas of your business are performing well and which areas need improvement.
3) Management accounts for the past 3 years: review your financials from your accounting software and or accountant. If you are not sure on something ask the question.
4) Client Reviews: this is a great way to determine who are your most profitable clients and which products are bringing in the greatest margins. On the flip side, do your have clients or products that are costing your business money?