Powering Up Profitability: All About Honesty
Powering Up Profitability: All About Honesty
Lets be honest……about your bottom line.
Are you making progress with your profitability? In this series of Powering Up Your Profitability we are sharing tips with specific action steps you can take right away to begin powering up your profits! If you missed the previous tips you can see them here:
- Want a Crystal Ball?
- Powering Up Profitability
- What are you Really Building?
- The Road to Success
- Increase Revenue with Tax Strategies
- Cash is King
- The REAL Story
This week is about honesty!
When we really know where we are we can truly create a plan to close the gap from where we are to where we want to get to.
There is a phrase we use in the financial wellness world, which is… “pencil it”. This is the act of “running the numbers” to see if a project or investment is worth your time and money.
Unfortunately, it’s a step too few entrepreneurs take and one of the reasons so many business owners fail to make a profit. After months of disappointing results, some throw in the towel before they’ve even gotten started and others continue on the path of not making the bottom line profit they intended.
The truth is, most entrepreneurs (perhaps even you) spend the bulk of their time, energy and mental focus on everything BUT the bottom line. They are spending so much time working in their business (posting, surfing, creating, learning, and delivering) and very little time on making sure at the end of the day… you are working on increasing profits.
Profitability is the ultimate path to time and money freedom and we are here to help you get there.
ACTION STEP: Determine your current rate of profitability. The formula is Revenues (Gross Profit) / Net Income (Revenues – (COGS + Expenses)).
If you are eager to learn about all of these tips right away download our 10 Tips to Increased Profitability HERE.
In Abundance,
