By Lee Duncan
Learn the best way to pinpoint precisely what's maintaining your corporation again so that you can double your turnover and revenue inside 2 years or less.
This ebook permits small company proprietors to unlock swift, dynamic progress. together with motion plans which assist you to beat the boundaries that could be maintaining your corporation again, and plagued by case reviews all through, this publication acts as a blue print for achievement, educating you the most important rules of a profitable high-performing business.
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Additional info for Double Your Business: How to break through the barriers to higher growth, turnover and profit
When we wrote down all of his projects, he realised that each of them had the potential to produce good returns, but all of them needed at least a month or two of dedicated effort. Predictably, none had been delivered in over 12 months of trying. Helping him to focus on one thing at a time made a huge difference. In a further six months, his business had added almost 50 per cent in turnover and even more in profit. Becoming successful requires you to sacrifice some of your ideas. There is simply not enough time to do it all.
It includes materials and any subcontracted labour. It’s also sometimes called cost of sales. Stephen’s total cost of goods sold was £455,000 for the year, which covered the alarm system hardware and materials used during installation, plus the cost of subcontracted engineers. s Gross profit is a calculation showing the difference between the sales and the cost of goods sold. In simple terms, it is the money 3 ■ Understand your accounts to make more money s that came into Stephen’s business during the year after the cost of doing the jobs had been covered.
Freelance contracting engineers had their terms of employment changed – to a fixed price for a job, rather than a daily rate. The quotation system was changed to increase prices slightly, allowing for a target 60 per cent gross profit margin for each job. Monitoring the performance of these new systems during the next month demonstrated margins were operating at 50 per cent. That change alone, when considered across a full year, boosted the gross profit from £195,000 to £325,000. That same change did not affect anything else – the business still cost the same to run.