Tag Archives: profitability

2017 YEAR –END REVIEW AND PLANNING

By now you probably have a good idea of your year-end numbers.  As you look back over your year, take the time to list what worked – and what didn’t. Here are a few recommendations to help you review 2017 … Continue reading

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5 Areas to Review to Plan for a Successful 2017

While you still have 2 more months to generate income (and expenses), you probably have a somewhat good idea of your year-end numbers.  As you look back over your year, take the time to list what worked – and what … Continue reading

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Using QuickBooks to Find Your Niche

In our last article, we discussed the benefits of specializing versus generalizing.  So let’s take a look at how QuickBooks can help you. Decide what you want to track.  Obviously you want to look at profitability but here are some … Continue reading

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Two Key Numbers to Monitor Profitability

It’s year-end and time to review how you did. Gross Profit Margin and Net Profit Margin are two numbers you want to look at – they help you with both reviewing your numbers and planning for the upcoming year. When … Continue reading

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How to Use the QuickBooks’ Fixed Asset Tool

If you’re a typical business, then you’ve purchased furniture, equipment (outdoor or office), vehicles, or maybe even property – these are commonly referred to as Fixed Assets.  By definition, Fixed Assets must be in use for over 12 months. QuickBooks … Continue reading

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Have You Checked Your Balances Lately?

The Balance Sheet is an important report in your business’s financial statements. Unfortunately, I find that many small businesses never look at this report.  Usually it’s either because they don’t understand the report or they think it has nothing to … Continue reading

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Using QuickBooks to Find Your Niche

In our last article, we discussed the benefits of specializing versus generalizing.  So let’s take a look at how QuickBooks can help you. Decide what you want to track.  Obviously you want to look at profitability but here are some … Continue reading

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Are there Riches in Niches?

In the beginning, we all take whatever business we can get. But after a while, you can start to identify who you like working with, the types of work you do, where you’re more profitable, your ideal customer, ideal division, ideal service… Many worry that if they niche, they will lose out on business because they won’t reach as many people. But actually it’s often just the opposite. Remember, you often purchase materials for your jobs from different suppliers because the supplier is specialized. When you take the time to niche, you’ll find that it simplifies your business and increases your profitability. Continue reading

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Do You Know Your Business Vitals?

On a doctor’s visit, the first thing the nurse does is take your vitals: your temperature, blood pressure, pulse rate, and respiration rate. These basic measurements are the first place doctors look to see if something is wrong with our health. Continue reading

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Profitability by Type of Customer

When evaluating what’s working well in your business and what’s not, one of the aspects I like to view is what Types of customers are most profitable for me. If I can narrow down the types of customers that are profitable, I can streamline my workflow, simplify my marketing, become known in those industries, and increase my bottom line. Continue reading

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