EBS Tips: Useful Information

You are the best at what you do!  You know more about your business than anyone else.   You are the master of your product and service, and you know best why your customers want or need what you provide.

Since you are the expert in your field, your products and services are awesome.  You likely know how your product beats your competitors.  You likely also know how your services are easily differentiated from similar providers.  You have what it takes to be successful!

What if there was information that would enable you to fully understand the benefits of reducing the cost of your product or improving the efficiency of your service delivery model? What if you had information that gives you the opportunity to increase your revenue or create cost savings within your business?  How useful that information would be to improve your profitability.

So what are forms of useful information?

  • Profitability of your business in total.
  • Profitability of each product or service provided to customers.
  • Status of cash at a given point in time.
  • Revenue by month compared to previous months.
  • The costs and expenses of one period compared to previous periods.
  • The amount you owe your creditors.
  • The quantity of products that need to be sold to breakeven or make a targeted amount of profit.
  • The cost of providing services compared to the prices you charge.
  • Your cash needs over the coming months or year.
  • A summary of the financial position of the business at a given point in time that is frequently requested by lending institutions.

When the Entrepreneurial Business Services of Crosslin assists with your accounting needs, useful information outlined above plus much more becomes readily available without you being distracted from what you do best.   You are better equipped to make more informed decisions regarding how to increase your revenue, reduce your expenses, and increase your profitability.  You will also be better able to determine how you might modify your pricing structure to create more profit.  Perhaps you will also see that certain products and services generate more profit, so you may then modify your business strategy to best achieve your goals.

With useful information, you are better positioned to achieve the success you deserve!