Preparing a budget does not have to be laborious. I hated wasted time; I also hate spending a lot of time on budgets. That view might strike some of you as strange given that it comes from a CFO (Chief Financial Officer). But the truth is that budgets do not have to take a long…
Answering these strategic questions can help you grow market share, be rewarded with superior profits, reduce risks, and improve morale.
Since I have worked with several landscape companies as clients, I am sharing some of my lessons learned that are specific to that industry.
In every company’s collection of customers or properties, there are winners and losers. One key to increasing profitability is to identify them and analyze what makes them a winner or loser. Your profit engine …
Seeing the future is difficult, but reducing it to numbers is even more challenging. You can predict what your income statement will look like next year.
The leaky boat is like a business with a problem retaining its customers. It costs a lot of money to acquire customers. Customers who leave prematurely can harm a business’s reputation. Keeping the customers that you acquire is a great way to grow revenue faster and increase net income.
You can educate your employees about the importance of profits to a business. Read about the 7 purposes of profits and how you can shift employee mindsets to reduce guilt and help them to see that profits are good.
Nearly six out of ten of employees probably believe that their companies make too much profit. And having guilt about profits can have a negative impact.