“Revenue is vanity. Profit is sanity. And cash is king.”
—Unknown
Louisville Business Coaching for Increasing Profit
Increasing profit isn’t about how much money you bring in…. it’s about how much you keep. Increasing sales and revenue is wonderful. But it’s just the means to an end. The goal of working with your profit-focused business coach is to create a reliably sustainable, profitable business — one that has an increasingly greater amount of Net Income which can be used to build cash reserves, invest in new services or assets and/or provide greater personal income for the owner / shareholders.
Sometimes business owners can become so focused on sales, they “sell themselves right out of business”. Meaning, they have plenty of customers and new orders, and seem to be growing…but never seem to have much (or even enough) money at the end of the month / year. They’re busy (sometimes even overwhelmed), so they hire additional staff…but then they worry about making payroll every two weeks. In a worse case, they try to resolve this by selling even more, only to find that this means they need even more staff, and the burden to make payroll only grows larger and more worrisome.
Realizing that a profitable business is critical to their long term professional survival and personal income, Momentum Business Results helps clients invest the time necessary to:
- Understand their margins (and not just their “mark-up”) for each separate product or service they sell
- Prepare a cash flow analysis to understand where and how money flows into, and out of, their business
- Compare this information to industry and local standards to ensure their services are priced and delivered as they should be
- Continuously track their results against these profit targets so they can make any necessary adjustments before things get too far off track
- Regularly evaluate their team’s performance and identify opportunities to be ever more effective, efficient and profitable
- Work with their coach to develop and implement effective strategies to increase margins, control costs and improve profitability.
- Build an ever more successful business and make money in a strong economy, in a recession or anything in between.
