Do You Know Your Numbers?
This is Amy. I hope you’re well.
I’m the COO of BizLife360, and part of my responsibilities include managing the financials. Yeah, it’s not the sexy part of the job, but it’s an essential element of running a business.
Do you know your numbers AND use that information to help make decisions for your business?
Mid-year is a great time to dive into those numbers, learn from them, and adjust your strategies so you can meet or exceed your goals!
Not sure where to start? Here’s what we recommend:
- YTD Revenue versus Goal: Look at your total revenue for the year and compare it to your annual goal. Are you on track to hit your goal? If not, spend some time strategizing ways to make up any shortfall and get yourself back on track.
- Sales by Customer: Who are your top revenue-generating customers? What can you learn from them that you could apply to other customers or prospects? What strategies might you use to retain them and leverage them for referrals and testimonials?
- YOY Monthly Trends: Review your year-over-year revenue trends if you’ve been in business for more than a year. What do you notice about the peaks and valleys of your revenue trends? Is there any seasonality to your business, and how might you capitalize on that? Are there any strategies you can implement to level out the revenue valleys?
- Business Growth: If you’ve been in business for more than a year, compare your growth to prior years. How does your growth compare to your goals?
Sometimes, it can be sobering to dive into the numbers and realize that your business isn’t performing at the level you had hoped.
Not to worry, we can help you with that! Join our FINISH STRONG 2022 program to level up your business performance!