Imagine driving your car with no fuel gauge, speedometer, no rev counter, no mileage counter. Well that’s what it’s like running your business if you don’t keep an eye on your numbers. You don’t know when you’re going to run out of gas (money) You don’t know what speed you’re going at (profit). You don’t know whether you should change gears (growth). And you don’t know how far you’ve come and whether you need some fine tuning!
You don’t drive for nine months to find out suddenly that you should have got a service a year ago or wait until there’s no fuel in the tank before you refuel - it’s exactly the same for business! Keeping an eye on the important performance indicators in your business give you a head’s up of where you may be heading in the wrong direction or even the right direction. So what do you need to do?
1. Keep an eye on cashflow. Do you have projections that you update regularly so you know when you might run out of cash?
2. Do you regularly look at your Profit & Loss to see where you can tweak it for growth and tax purposes?
3. Are you running on the wrong gear? Trying to expand when you should concentrate on the making the core business work. Or keeping yourself in check when you should be trying to expand?
4. Measuring how far you’ve come will tell you what you need to tweak to get even better results. This could be what marketing is working and what’s not; or measuring your loss leader strategy for one of your services/products that’s not successful and is losing you money.
5. Get an annual MOT or service. A Diagnostic review will compare your results to your competition and help you look at what areas of your business could do with an overhaul. It’s not about huge changes, it might be an ‘oil change’ will change your performance dramatically!
I’m offering two Diagnostic Reviews at less than half price in December. Instead of £997 + VAT it is only £497 + VAT. To take advantage, send an email to firstname.lastname@example.org