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You know gross margin impacts your profit, but have you considered the impact it has on the value of your company? Read our latest article to find out how gross margins affect your business value. https://lnkd.in/ef__ergn

Boost your profit margin by assessing and fine-tuning these three key areas: 1. Cut Costs Wisely: Look at your expenses and find areas where you can spend less. For example, try to get better deals from suppliers, reduce unnecessary office expenses, or find ways to be more energy-efficient. Every dollar you save goes directly to your profit. 2. Raise Prices Carefully: You can make more money by charging a bit more for your services, but be careful not to scare away your customers. Small price increases over time can add up without hurting your business. Remember, it's essential to offer value for the price you charge. 3. Increase Sales: Find ways to sell more to your current customers or attract new ones. You can upsell additional services or products to your existing clients, offer promotions, or explore new markets to grow your customer base. More sales mean more profit. By keeping an eye on your expenses, pricing your services thoughtfully, and focusing on growing your business, you can boost your profit margin and make your business even more successful.

Transitions Tip - When is the Best Time to Sell Your Business? The best time to sell your business is when profits are healthier than ever, and revenue and net income are trending up year after year. It may be difficult to walk away from a money-making machine, yet you’ll get the best price and buyer response when your numbers are strong.

Run your business by the %, not the $ Money does not tell the story The real story of your profitability is found in the percentages. Specifically, expenses as a % of income Focus on the big % numbers The devil is in the details. $1,000,000 in cost of goods sold is a significant number, but if it is 55% of sales, it is a home run. You have a 45% margin. Do you know what your overhead is as a percentage of income? If not, then you don't know your proper markup. It is all in the percentages. #businessblueprint

Your business won’t survive And that is you don’t know your average profit margin, cash collected, revenue, gross profit, net profit, cash flow, and expenses. Keep that in mind

The steps to making more money is Sell More at a Higher price with limited spending. Check out our latest YouTube video explaining the three steps that guarantees your business making extra profit. https://lnkd.in/eau4-FSK

The end of the financial year brings with it the thrills of counting the beans of your business wins, or the condolences of tallying up losses. It is a perfect time to take stock of your current position and how you got here. Revise the goals you have set in your business for improved performance and better results.  Ultimately, your goals will be successful only when their achievement grows your business and establishes freedom. Often measurements are set around lag goals which is not always helpful. Lag goals are usually results oriented, meaning their achievement comes directly from your organisation’s activity. Lag goals are easy to measure but not as easy to improve or influence. These goals target outcomes such as the number of sales made or the amount of revenue produced. https://lnkd.in/gZjH7UT

Having different accounts for your business is really helpful. You can decide what percentage of your sale or net profit for the month, you would like to put away to cover your business expenses and to save for slow periods. #smallbusiness#businessdeductions#businesswriteoffs#businesscredit#smallbusinesstips#taxseason

"My business is growing, but I'm making less or the same profit as before" As your business grows, increased profits should follow! This is why we track from a birds-eye view the relation between revenue growth and direct (COG's) and indirect (overhead) costs. Observing metrics like this in a rolling 12 month average will help give you a clear picture, since you are always taking into account the full 12 month period. Observing static data or data for one month may show a drastic value due to the seasonality of the business.

When it comes to your profit margin, you don't always want to shoot for the highest possible profit margin. But you don't want the lowest either! You want to find the profit margin that's just right for you, for your business, and compared to industry standards. A high profit margin can be great, it means you're taking home as much money as possible on each one of your sales. But if you're not spending enough to invest in your business (to maintain that high profit margin) you could be missing out on future growth. A high profit margin can be great, it means you're taking home as much money as possible on each one of your sales. But if you're not spending enough to invest in your business (to maintain that high profit margin) you could be missing out on future growth. You can't find your profit margin without having accurate financial record keeping. Are your records accurate?