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The Accountants for Growth

The Critical Numbers Every Business Owner Should Know

The Critical Numbers Every Business Owner Should Know
How the measurement of your business' key numbers will drive your profits. This blog will explain how by understanding and measuring your key numbers, you will be able to drive your business forward.

Just about everything in business that matters is a number - your sales, gross profit, your customer base, your costs, your profit and most imporantly, your cash flow.

We find that often business owners who are looking to grow their business focus on a smart new website, advertising campaigns or direct mail campaigns. Now these may all be useful strategies but if you do not understand the number behind these activities and the impact they have on your business, the results can be disastrous.

Here is the big secret - you can make a huge difference to your profits just by understanding and deploying seven simple growth drivers. So, if you could increase your customers by 10% increase the average amount they spend by 10% and increase how often they spend by 10% then surely your sales will increase by 30%. Wrong! The power of synergy is involved here and as a result your sales will increase by 33.1%. Now isn't that interesting?

In future blogs I will explain how you can work on and improve the seven key growth drivers, so watch this space.

Businesses need to constantly work on their business rather than in their business. As part of the process of working in your business you need to look at the key growth drivers, the improvements will be seen by looking at your numbers in LivePlan which I referred to in an earlier blog.

As accountants specialising in helping business to grow, we can work with you and give you many ideas on how to work on the growth drivers for your business and thereby improve your profits exponentially.
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