The most common way to measure success in a business is through financial statistics.
The most common goals for a business owner are usually some kind of financial target:
- Sales Revenue over $1 million
- Profit before owner's salary and benefits of $250,000
- A business valued at $5 million
The numbers at this stage don't matter - although your targets do to you - it's just that business owners tend to think about financial results.
Unfortunately the knowledge of how those results are measured and what actions are needed to get the results they want are often very vague.
Sometimes it boils down to general statements like:
- We need to increase sales revenue
- We need to get more customers
- We need to cut costs
My intention with these articles that your knowledge of financial issues will improve and you will be able to find the right financial advisors for your particular business needs.
Finance Articles Volume 1
The collection of finance articles on my Business Coaching Blog continues at
Other Articles That Will Help You Organise The Finances Of Your Business
My coaching blog is very large but you will find these articles helpful as well:
Finance Problems May Be Solved By Extra Profit
It's not always true that more profit can solve finance problems but it can certainly help. More profitability may mean that the business doesn't need to borrow. Even if it does, a more profitable business is a much more attractive business to banks and other financial institutions.
The Six Steps Profit Formula - Free Report (Click On Image)