Grow your numbers – Improving your margins

In our previous blog we talked about how to drill down and measure your margins.  Once you have measured them correctly it’s time to identify ways to improve your margins.  With improved margins you don’t have to generate as many sales to get the profit figure you want your business to deliver to you.  Better still, if you lift your margins and achieve higher sales, you’ll get even more than you planned on your bottom line!

Know Your Numbers – Your Trading Account

The most important step in taking control of your business performance is to understand your numbers.  Imagine you are a Doctor and your business is your patient.  The financial reports give you the symptoms of the good or poor health of your business.  Having a good understanding of the reports enables you to pinpoint areas that require a more detailed diagnosis.