Keeping Score: How to Increase Profits and Results

Post on 05-Dec-2014

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You're working hard and deserve to make more money. Learn the secret to increasing profits without working yourself to death. Read more here...http://darcieharris.com/do-you-know-how-to-make-a-profit/

Transcript of Keeping Score: How to Increase Profits and Results

Keeping Score: How to Increase Your Results &

ProfitsEducation is POWER

© AlphaMareAcademy.com

Key Strategic Indicators

• The things you need to measure daily, weekly, monthly, quarterly or annually.

• The signals that tell you if you're going in the right direction or wrong direction

• The information you need to make good, timely decisions

Education is POWER© AlphaMareAcademy.com

Why Bother?

• Help you spot trends to take advantage of • Help you prevent serious problems• Help you create efficiencies• Help you increase productivity• Helps entire team know the

results of their efforts

Education is POWER© AlphaMareAcademy.com

Are you measuring the right things?

• Basic Financial Measures• Non-financial Measures • Short Term Measures vs.

Long Term Measures • Input Measures vs.

Output Measures

Education is POWER© AlphaMareAcademy.com

Profit per “X”

Education is POWER© AlphaMareAcademy.com

Education is POWER© AlphaMareAcademy.com

Businesses don't succeed or fail without

clues

What to ask yourself?

• What results do I want in 90 days?• What results do I want in 1 year?• What results to I want in 5 years?• What activities cause sales?• What activities cause increased expenses?• Which numbers make profits increase or

decrease?Education is POWER

© AlphaMareAcademy.com

Which 3 key measures will you commit to track?

• Any activity that causes sales (weekly) • Total expenses as % of total revenue (monthly)• Marketing as % of total revenue (monthly)

Education is POWER© AlphaMareAcademy.com

Create a simple dashboard that's updated weekly

Education is POWER© AlphaMareAcademy.com

Keep Score

Education is POWER© AlphaMareAcademy.com

Commit to measure three things for three months

Education is POWER© AlphaMareAcademy.com

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