Why did you start your own business? Most people have done it for flexibility (which can be argued) and to make money.

Have you ever been asked “simple” questions about your business that you have been unable to answer? Like what is your current turnover, gross profit or net profit?

Are you tracking to industry benchmarks?

Do you know which levers to push or pull in your business to make change?

Knowing your numbers, lead indicators (proactive forward looking view) or lag indicators (looking at what happened in the past and the outcome) will help you make informed business decisions. All of these decisions will impact your growth and that all important profit figure!

Do you know what numbers to look at in your business?

There isn’t one rule for every business. Each business, depending on how long you have been in business, whether you are growing or maintaining, and what industry you are in will impact on what numbers are best for you to monitor. Also note that you may look at different numbers to your accountant, bank manager or even other business partners. However if you aren’t looking at anything, then what is it all for and how will you make the changes needed?

If someone said to you “if you cut costs or increased sales by a certain percentage” how you would do that OR would you know what the impact could be? These types of “what if” questions are important in business so you know what should or would occur when you make certain decisions.

If any of this makes you sit back and question what you’re looking at , reach out and give us a call or get started right now with our free Growth & Profit Diagnostic.

We can talk you through what you may want to look at and also how to leverage the data that you may already have or help implement processes that enable you to capture the data so that you can make business decisions with data backing you.