One of the most effective ways to achieve business growth is to make growth a priority and set corresponding goals. If you don’t manage your business by the numbers, you are putting it at risk and limiting your growth potential.
Here’s a quick test: Ask yourself if you know what your revenues were for the past three months or what you think your revenues will be for the next three. Do you know the answer?
How about this: Ask yourself how many customers you’ve had in the same time period. Can you identify the repeat customers and those who were new to your pipeline? Do you know how much it cost to get their business? How about your costs for goods sold?
This is only a sampling of the kinds of questions you need to ask yourself to gather the information you will need to effectively run your business. Knowing the answers will put you in control and enable you to grow more intentionally. [Read more…]