Margin Management
The real income of a business is not Sales but Gross Margin - are you managing this key aspect of the business effectively?
The real income of a business is not Sales but Gross Margin - are you managing this key aspect of the business effectively?
If you have good data about your customer, which is possible if you have the right systems in place, you can gain valuable insights into who they are, why they buy and what you need to do to keep them coming back.
You need to keep your head up to see the upcoming payments that you need to make if you aren’t going to get yourself into cashflow difficulties.
Who owes you what, and when they will pay, is the next pice of information required to build a reliable cashflow forecast.
As a business owner, do you know your cash position right now? If not, why not? This post explains why its important and what to do about getting this vital piece of information.
Even smaller businesses should regard their internally generated data as key resource that needs to be used, like any other business asset, to improve business performance.
Last week I retweeted…. ‘There is an old #business #adage that says more businesses die from indigestion than from starvation’ which was posted by @allonriaz. This blog post explores my take on this ‘adage’ in a little more detail.
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