All Business Owners Have PAIN’s.
If you’re scaling your business, you will recognize these PAINS
- Need More Sales or Revenue: This usually involves getting more customers or selling more to existing customers
- There is never enough money in the checking account at the end of the month
- Controlling Costs: Realizing that you’re selling more but you dont have your fixed and variable costs under control, so there is often no money left in the account at the end of the month
- Marketing and Advertising in todays marketplace is constantly changing. We don’t seem to be getting a ROI on our investment.
- Money For Growth: If the business is growing, you’ll need to scale the way you’re doing things. That will probably require new staff, more equipment, more inventory, additional space, etc. All those thing require MONEY – often up well before you’re able to see the results of your growth curve
- I have opportunities to grow the business, but need money to invest and cant get it from the bank.
- Un-Anticipated Expenses: If your business has been growing, one of the challenges for the business owner, is that WHEN the business begins to make profit, the owner(s) need to plan for Taxes, Business Reinvestment and Retained Earnings accounts.
- By the time I pay all the bills and my employees, there is nothing left for me.
- Your CASH-GAP? Every business has one. Thats the time between your investment in raw inventory, additional staffing or production time and the time that your customers decide to pay you. Lack of Cash is one of the biggest challenges for business owners – even when they’re profitable.
- Although we’re busier than we’ve ever been, the check book doesn’t show it
- Get paid faster. KPI = number of days to get customers to pay
- Error Rate: How many things do you make that need to be fixed or corrected. KPI’s = Error% or Error Value
- Marketing Metrics: KPI’s = Cost / Lead, Cost / Sale
- Customers: KPI’s = Profit / Customer, Life Time Value of Customer, number of Transactions per customer
- Get better terms from vendor/suppliers: KPI = number days dating
- Business and Personal Credit Rating: KPI = Personal and Business credit scores