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How can your Stock Turnover Ratio help you? – Direct Costs & Overheads, part 4
This ratio tells us the speed at which you sell your stock.
Use it to help you see which products and lines are selling better (or worse), whether you need more warehouse space, how to reduce warehouse costs, when to make more or less of different products, and more.
Read on for how to find yours!
How can your Operating Profit Margin help you? – Direct Costs & Overheads, part 3
The Operating Profit Margin tells us how efficiently your company manages its expenses.
Many people believe that this margin is a good indicator of the strength of the company’s management team.
How can your Gross Profit Margin help you? – Direct Costs & Overheads, part 2
In this blog, we’ll look at what your gross profit is, what your gross profit margin is, what it tells us, how to use it, and how you can improve it.
You should come away with at least one action point to implement in your business today in your quest to be more data-driven in a human way.
What are direct costs vs overheads? – Direct Costs & Overheads, part 1
When looking at your profit & loss report, you’ve probably noticed the expenses are split into 2 groups. Have you ever wondered why?
It’s to help manage the business, essentially.
In this series of blog posts, we’ll look at what direct costs and overheads are and what you can do with them. This post is focused on what they are.
How much money can you bring home as a service provider? – Client Slots, part 2
How many clients can you profitably serve in the time you’re available to work?
Stop just hoping that whatever your clients pay you will be enough. Instead, build a flexible structure, so you can focus on marketing and serving.
How many clients do you need as a service provider? – Client Slots, part 1
How many clients can you serve in the time you’re available to work?
If you’re a self-employed service provider with one to three main offerings wondering whether the numbers work for you to provide the service you have in mind and bring home the profit you need in the time you have available, then this two-part series is for you.
How to cope with expenses not wholly for your project – Project Tracking, part 3
Your project is not using all the wages, software, materials, etc, used by your whole business or charity, just a part of it. How much? How do you keep track? This is the idea we’re exploring in this blog post.
What to do when your project year is different from your financial year – Project Tracking, part 2
In this post, we’re going to explore how to make the reports useful when the project year isn’t the same as your financial year.
Stay on budget in spite of this wrinkle!
Is your business project profitable? – Project Tracking, part 1
You’ve started a project in your business (or charity). Maybe it’s a new service or product, maybe it’s a paid speaking gig, or maybe you’ve received a grant.
In this series, we’ll see how to find ou: Is it profitable? How much of the budget is left? What has the money been spent on?