Without Profitability, You Do Not Have a Business!

Updated: Jul 23, 2021

Overwhelmed, struggling to stay on top of it? Trying to balance sales, administration duties, customer service, and personal time? Oh yeah, tax time is here. How are you going to manage this on top of it all?

Small business owners juggle many priorities like sales, marketing, customer service, and the list goes on. At the end of the day, the most important factor of your business is profitability. Without profitability, you do not have a business.

There are many resources and tools available to help you manage your priorities and day to day activities. To prioritize, think money and return on investment (ROI) and then work down the list from there. The most important activities are those that bring in revenue. Time block your schedule to only perform revenue generating activities.

Consider outsourcing functions that take up precious time. Maybe you do not perform well in certain areas or simply hate doing them. It is hard to fathom writing another check for one more thing, but it is costing you money to not do so. Let’s say your time is worth $100 per hour and you spend 10 hours a month bookkeeping, you are losing $1000 per month less the cost of outsourcing. Let say outsourcing cost $400. You just paid yourself $600!

Focus on generating revenue and stop wasting your time on non-productive activities. Start by outsourcing less expensive areas like bookkeeping. Bookkeeping does not affect your day-to-day operations so it will have less of an impact on your organization.

NetStrong Business Solutions has 20 years of finance, business development, and home services experience. Contact us for more information at Jason@NetStrongBusiness.com. Visit our website www.NetStrongBusiness.com.

“Helping businesses make more MONEY, save TIME, and remove the HASSLE of running a business”

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