Profit

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Knowing What Business Metrics to Measure

Knowing What Business Metrics to Measure

Knowing What Business Metrics to MeasureThere are 100’s of metrics you can look at in your business from day to day, and many can be great indicators of the success or failure of your business. Obviously, you are in business to make a profit so that should be the number one thing measured, otherwise you have a hobby. Not that being happy and content with the enjoyment of your craft is bad, but as a business, you must eventually turn a profit. Then, you can look at other financial core metrics like cash flow, accounts payable, accounts receivable, direct costs, operating margin, and cash burn rate.

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Being Customer Centric EQUALS More Profits

Being Customer Centric EQUALS More Profits

We all have heard the saying “The Customer is Always Right”, and most companies state that in one form or another and give it half lip service. But, what if you really centered your business around what your customer needs and how you can best serve them? What if occasionally you lost a little bit on an order here or there? What if you put your future investments into ways to help your customers meet their goals, not your short-term metric driven selfishness? What if you made the customer the center of your business, the basis of how you and your employees make decisions? Is that a MORE profitable way to operate your business? 

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Becoming your Customers Singular Supplier; Not a Commodity

Becoming your Customers Singular Supplier; Not a Commodity

Let’s kick this off with some strategies for making yourself a singular supplier to your customers and keep yourself out of the dreaded commodity world. I know we have all been told “I can get this from your competitor cheaper” and if your only reply is to lower your price, you have fallen into the commodity bucket.

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