What is your financial aim? How big are you going to grow? By when? What kind of profit margin are you aiming for? Do you have your finger on your expense revenue ratio?
Highly important questions in good times; in hard times, these particular questions are even more important.
Cash…is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent.
– Warren Buffet
If you believe that you should be making more money than you are, are wondering where the last five years went and how you ended up with the bank account you have at the moment, you need to read this article. Your financial status, your growth plans, your profit margin and your expense/revenue ration are all aspects of running any business and on which you need to have a close watch and the big picture in order to survive Economic hard times.
“Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals.”
Learning What Matters In Business
The basic fundamentals Jim Rohn speaks of in this quote has to do with the basics of business:
Clear Mission or Purpose
The Clear Vision is about having true clarity about what your business is going to look like – next month, next year, in five, ten or more years. You need to be able to talk about this vision in a way that makes sense to others, and inspires those around you.