Are you wondering why your business is not profitable? It’s not very often that a company or business isn’t trying to turn a profit at some point (nonprofits excluded, of course). Here are the top five reasons why a business is not profitable.
A common question for growing companies who are considering outsourced accounting is: “What is the difference between bookkeeping and accounting?”
Even the best value proposition doesn’t make your business recession-proof. So how can a business double-down in times of economic uncertainty? Begin with your data and then focus on growth. Here are six ways to grow your business in an unpredictable economy.
Congratulations, you have managed to persuade a customer to purchase your product or service. In fact, you have managed to repeat this action over and over again. But, do you know the true cost to acquiring those customers and have you figured out how to improve that cost?
Your value proposition is more than simply defining your price structure. It is your brand’s narrative. To define your value proposition, begin with the obvious and work your way through to the nuanced.
To create a growth culture, involve employees in your financial success. We don’t mean foosball tables and microbrews on tap, we mean big picture growth. Here are three steps to create your growth culture.
When you’re strategic planning, do you map back metrics to your mission? If you’ve read any of our budgeting articles you’re familiar with my recommendation to set targets or benchmarks for your team. Creating this culture of growth sets your business up to scale.
Given the turbulent financial climate, it’s not surprising to see more owners consider selling their business. Whether it’s to look after employees, cut losses, or for personal reasons there’s always a combination of pros and cons to consider- and I’m speaking from experience having sold my company to ORBA 5 years ago.
© 2021 | All rights reserved. Ostrow Reisin Berk & Abrams, Ltd.
Are you ready for forward-thinking financials? Book your free consultation today.