Out of control business, out of control profits?

April 11th, 2019     Improve Your Business

Is your business out of control? Do you know where you’re going? How are you going to get there? Are you on track? Are you happy with your answers to these questions? Building the business you need to have the life you want is going to be easier if you have your business under control. So if you want your business to be under control these are three things that will help..

Forecasting – will help you map out your future and what you want, which can help you decide the actions you need to take to make it happen. You can forecast everything including sales, profit and cashflow. The amount of detail you put in your forecast will help you get deeper into the nuts and bolts of how your business works and will help you see when things aren’t going as they should.

Systems and processes – help you to do the right things at the right time and deliver consistent results, without the need for you to be there checking everything. Systems and process should be designed for all aspects of your business and preferably be written down for your team to follow. Remember, they’re not set in stone and can be constantly improved with your team’s input.

Measurement and feedback– is the crucial part of your systems and lets you know whether or not your business is on track and under control. Without this information you won’t know if you’re on track and making the profit you want. With this information you’ll know what’s happening and make changes as necessary. Examples of this can be management accounts, variance analysis and key performance indicator measures as long as they tell you what you need to know!

So if you want to make enough profit to have the business you need to have the life you want, keep your business under control.

We work with business owners to build the businesses they need to have the life they want, so if you want to talk about how to keep your business under control, get in touch with me on 01803 296678 or email andrew.price@andrewprice.co.uk