Expense coding is essential to accurately track your spending.
If you've heard me say it once, you've heard me say it a THOUSAND TIMES!!! Track, track, track. You have to know, in detail, where your time and your dollars are going. Estimating these numbers will only get you, and your business, in trouble. If you don't know the REAL FACTS about your business, you are going to go off course in a hurry and not even know it. Track your spending and track your time!!!
Okay, so maybe by now you've heard it enough times and you have decided to take the plunge and get granular with your business. No matter what these real numbers revealed about your business...whether the bottom line made you cry or validated that you are on the right track...it is essential to use the information gleaned from the tracking to keep–or get– your business on course.
Anyhoo...I publish these business tips and motivational quotes to get you fired up for your work week!
Check out the summary of more business tips and motivational quotes from my Instagram page which you hopefully got to see in real time! If not, let's make sure we're following each other on Instagram!! So...here is the round up of Instagram images of My Top Business Tips and Motivational Quotes.
Top Business Tip #1:
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"Through expense coding you can...sort each job by gross sales & total profit."
Top Business Tip #2:
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"Through expense coding you can...determine which segments of the business to grow."
Top Business Tip #3:
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"Through expense coding you can...evaluate the profitability for each line item."
Top Business Tip #4:
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"Through expense coding you can...calculate the profit percentage of each job."
Top Business Tip #5:
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"Through expense coding you can...determine which segments of the business to eliminate."
The Bottom Line?
Remember that it is so important to apply what you learn! Code, evaluate and apply! Learn more about expense coding in my book, But Are You Making Any Money?. What is your favorite business tip that helps you in your business? Please share it or share something you've learned from failing in the comments below.
xoxo M
P.S. Want More Motivational Tips?
Check these out:
Wrap Your Arms Around Your Expenses
6 Things That Will Instantly Hurt Your Business
