If You Want Your Treasure, Get Ready to Measure

Lately, I’ve gotten into the habit of coining the phrase, “If it doesn’t get measured it doesn’t get done!” In all honesty, many people who start a business are just excited to practice the trade, skill or talent that they’ve spent years learning and perfecting. If you’re a doctor, you probably are more interested in healing your patients, than running a business. If you own a hair salon, you might care more about creating stylish fashions than crunching profit numbers. But we all know that the bottom line matters. Bottom line! Right? So, the … well… bottom line is that if business owners don’t take time to crunch numbers and determine their revenue requirements, they will not ever see the incredible profits that they are fully capable of achieving.

Let me break is down for you. If you are running a business in boat rentals, for example, you will need to calculate your cash outflow every month (taking into consideration any irregular maintenance costs that need to be factored in) and then from there, you can begin to calculate your cash inflow. Once you know the dollar amount that you need to maintain your desired profit margins on a monthly basis, you can begin to have fun with generating sales and business activity.

This is where your industry knowledge and acumen can combine with my business experience and skills to create a dynamic company that will beat your competition. I like to refer to your sales as a spigot. When you understand how to generate leads and convert those into sales, you are essentially learning how to turn on the water spigot – your source of sales flow. Once you acquire the right communication, marketing and sales tools to achieve a rapid flow of business, then you’ll be basking in the cool waters of success! It’s all about the measurement of your business’s key ratios and statistics. Know your numbers and then you know how to turn on the spigot to make the money and sales flow easily!