Keeping Score: How to Increase Profits and Results
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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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