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Sales – Grow or Die 🧾Sales is my second favorite business number, right behind net earnings.This number is the buzz, the...
01/14/2020

Sales – Grow or Die
🧾Sales is my second favorite business number, right behind net earnings.

This number is the buzz, the excitement, the pure adrenaline in your company’s veins🚴🏼

The exchange of a sale dollar between you & the buyer is golden💰

The market says they accept you... no, they ADORE you & want what you have to offer🦄

↗️Increasing sales then, should be the #1 goal for you in business, no matter how big you are.

Why?🤔

Because at a rate of 3 to 4 % inflation each year, if you are not growing 6-7% each year in sales, you’re dying🥵 The higher cost of doing business, if not offset by higher sales will erode the company’s earnings & you eventually will die.

Do the math people🔬

Always know your sales number from the prior year & compare it to where you are today📆

Watching sales year to year can be the biggest health check your business will get.🤑Sales trends on a downward trajectory can mean a lot of things, customer service is off or your target market has shifted & your product is no longer relevant.

Or maybe the economy is cooling🥶Use your trending sales number as a red light indicator.🚦

🗣Let the market talk to you. It might be time to retool.

Sales number also works hand in hand🤝with net earnings to grow your business & your personal income.

As you understand what percentage of the sale you actually get to take home after expenses are paid, you can have some fun with what if scenarios💁🏻‍♂️

🧐Such as, what if I wanted to increase my earnings next year by $11,000, how much more do I need to sell? If you know what your average net earnings are as a % of sales, it is as easy as pie.

🤑Such as if your sales are $100,000 a year & you make $44,000 a year in net earnings, you make 44% of every sale dollar. Thus, if you wanted to make $55,000 next year, you would need to sell $125,000 to do that ($55,000 / $125,000 is 44%) as well as keep expenses in line with sales.

This stuff isn’t rocket science🚀it is very straightforward.

✨The magic?

⚖️An accounting system that provides you those reliable numbers to even know that net earnings %.

Otherwise, you are operating on shifting sand🏝

Continued in comments⬇️...

01/08/2020

Accountants trying to be actors got us like....






Week  #2- The most important number...The most important number is: ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀOkay……what does  ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ mean? I bet yo...
01/06/2020

Week #2- The most important number...

The most important number is: ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ

Okay……what does ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ mean? I bet you hear that phrase a lot, but are not really sure what it is?

ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ is actually the sum of income (sales) from your business subtracting away all of the allowable deductions (expenses). What is left over is called ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ, sometimes referred to as earnings or “your bottom line”.

Be careful here to not confuse earnings in your company with sales. Earnings or ᴺᴱᵀ ᴾᴿᴼᶠᴵᵀ is only what is left over at the end of the month, or end of the year and is taxable, it is not your total sales number.

But you may laugh and say, “Of course I knew that!” Well then good for you, most new clients I take on, when asked how much they made last year, never know. They say the CPA just calculates that number for their tax return.

So then, how are they able to make decisions in their company? Such as when to cut expenses, buy equipment, hire on employees or even feel comfortable taking one dollar out for personal use? They only look at how much money they have in the bank. But this will not give them the full picture.

When the bank account balance becomes their guiding star on running their business, it can trigger emotional, illogical decisions. If the bank balance is up, buy stuff, if it is down, quit buying stuff.

Tune in next week when we analyze that other important number cash balances and how to use it. While it is very important to look at, it must never be used alone to predict business health.

Renice




Small business is a bonfire. Cute and fun as long as it remains in the fireplace.I hear so much today about such amazing...
12/28/2019

Small business is a bonfire. Cute and fun as long as it remains in the fireplace.

I hear so much today about such amazing business successes but rarely about the failures. They seem to just silently slip off into the night, unlovely, unheralded.

But I must say, I have learned more about small business success by studying failure. My failures in business as well as from the others around me.

So, I try to work at remembering to remain a student. In business and in life. There are so many fascinating things to learn!

And in my expert opinion, the best lessons learned are those that involve a little pain.




What is Lemonis getting at here? 🤔🤷🏼‍♂️Actually what is every business guru getting at when they say that❓🤷🏼‍♀️What “num...
12/20/2019

What is Lemonis getting at here? 🤔
🤷🏼‍♂️Actually what is every business guru getting at when they say that❓
🤷🏼‍♀️What “numbers” are so important that they tell you if you know your business or not❓
👀You may think that your business runs on enthusiasm, or on passion, or on popularity. But what if you are wrong? Those things may have some effect on whether you win or lose, but the “numbers” tell the real story of how you are doing along the way. And probably what to do next. 🤷🏼‍♂️
✍️Some numbers in business are so important that they will make you or break you, but if we made a list of all of them, you might quit reading right now.
🤝To make this easier to digest, we are going to feed the main ones to you one at a time. Over the next ten weeks, we’ll tell you what numbers Marcus is talking about and we’ll tell you what each of these numbers might mean to your business.
Tune in next week to find out Lesson 1. “The most important number!”


Putting the 🥳 fun in functional- ✅A landscape is just a landscape without the color.  Numbers are just numbers without t...
12/13/2019

Putting the 🥳 fun in functional-

✅A landscape is just a landscape without the color. Numbers are just numbers without the beauty of personalities painted over the backdrop of a plan.
Numbers tell a story of where you have been and where you are going; but they don’t tell the WHOLE story

✅As an entrepreneur, you are energized by the thought of growing your business to next level and what will get you there❓Curious❓

✅It’s your secret sauce you have created all without even knowing you had a secret sauce. Some combination of hustle, drive, heart and perseverance got you where you are, but how far can that really take you without a plan? The trees are gorgeous in the picture, but on their own, they are just trees—with the backdrop, they sparkle and with color, they are unforgettable.

✅Five2Thrive coaching paints the entire picture with you as center stage. We take the perfect numbers, throw in personality testing to speak to the true you and a real life pep talk with a plan. That’s our secret sauce.

✅Finding your five success tool that are specific to you and your business dreams is what energizes us.
We put the fun in functional and put the splash of color to your landscape.

🙌🏼
Wait until you see how this works!
🙌🏼







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