It is imperative that an accounting system is setup within your organization that will enable you to efficiently and effectively record your business transactions. You will gain significant advantages over your competitor if your accounting system produces reliable and precise information.
Your business coach is waiting for your call right now to assist you in setting up your accounting system. We have years of experience with the setup of the MYOB accounting system
- The amount of time and cost incurred in recording business transactions within your organization is controlled
- The amount of time incurred by your external accountant in reviewing and producing financial reports & meeting tax obligations is reduced.
- The business owner, with the assistance of our business coach, can analyse the performance of your business and make informed business decisions.
How do you increase your profit?
Our business coach can determine which key performance indicators run your business and can assist you in fine tuning your business to increase profit.
What are Key Performance Indicators?
Once an organization has analyzed its mission, identified all its stakeholders, and defined its goals, it needs a way to measure progress toward those goals. Key Performance Indicators are those measurements.
No Business can survive without sales!
There are three components that determine your total sales:
- The number of customers that we have
- The amount of times our customers repeat business with our organization
- The amount of dollars our customers spend each transaction
In determining the unit sales price set by a business the following variables are considered:
- What the competitors are charging
- What price the market will accept
- A markup on cost price
- Whether the product or service is regulated by the Government
Discounting of Unit Sales Price
Applying a discount on your unit sales price has a dramatic affect on the number of extra sales you need to make to break even.
For example if your Gross profit margin is 20% and you discount your price by 5% you need to sell an extra 33.3% product to break even.