Problem Solved! Here's The Prescription To Fix Your Ailing Business!
I seem to be on a health kick lately! You know, adding some fruit to my cocktails, drinking green "shakes" on St. Patrick's Day (so what if they were spiked?), finding new ways to incorporate cereal into my diet (um, yeah, maybe that's a stretch... though there was that splash of milk). You can read all about my health fanatic lifestyle on The Party Goddess! blog, including a recap and video of my recent TV appearance in D.C. That's where I made (admittedly not-so-healthy) Easter Rice Krispie treats using melted Peeps. Super fun! So what does any of this have to do with this blog? Well... my extreme health & fitness regime (ha!) is a good segue to talking about putting your business on a health kick. Let's address some common business problems and how I might be able to help fix them! Dr. Profit Goddess is here for you!
If you read my blog regularly, can you guess what I'm going to suggest? It's pretty much one of my fave topics when it comes to diagnosing and fixing what ails so many businesses: expense coding! (Just to clarify, expense coding is the fix, not the problem!) I love it so much that once I finally figured out how to do it, I wrote an entire book to explain it to other small business owners. Lucky you!
Can You Diagnose Some of Your Biggest Business Problems?
If you don't know exactly how much money you're spending and how much time you're spending on what you do, you're not going to be able to set your pricing accordingly. You need to charge enough money to cover all your expenses — your salary included — and still make a profit. You're not in business just to keep busy. You're doing it to make money! The best way to track all your money and time is to have a job coding system in place where all that information is tracked. Set up a system like that and you'll put yourself in a great position to actually make a profit. Preferably, a big profit! You'll be able to identify trouble spots and fix them instead of thinking that your entire company is hurting. When you know what's wrong, you can come up with a tailored solution.
I know it all sounds so easy when you read it here. "Just set up a coding system!" And it is easy in theory. In practice, it's a little harder, especially if you're starting from scratch. But trust me, it's so worth the investment! This week I shared some quotes from one of my favorite authors... moi! Hopefully you liked them and maybe they even got you thinking about how you run your company and how you can diagnose and fix your business problems.
Be Oh So Quotable This Week!
I always say running a business means the work never ends! Ain't that the truth? I bet your to-do list is a mile long! Make sure that the items at the top of your list are the things that relate to being more profitable. Everyone is so proud of being so "busy"...But Are You Making Any Money? Don't be too busy to focus!
Check out the summary of last week's 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 this week's roundup of Instagram images of My Top Business Tips and Motivational Quotes.
Business Problems – Tip #1:
Love this? Pin it to your Motivation Board.
"Job costing helps identify the trouble spots so you can actually fix them, instead of thinking that your whole company is in trouble."
Business Problems – Tip #2:
Love this? Pin it to your Quotes Board.
"At the end of the day, all that matters is profit."
Business Problems – Tip #3:
Love this? Pin it to your Business Tips Board.
"Without a coding system in place, you are running your business with blinders on."
Business Problems – Tip #4:
Love this? Pin it to your Quotes Board.
"You must use Code Your Way to Cash in order to accurately diagnose the problems. Good solutions can then follow."
Business Problems – Tip #5:
Love this? Pin it to your Business Tips Board.
"Through the process of coding, you dig to discover the real reasons behind your problems."
Let's talk! I want YOUR stories on how your fixed some of your business problems.
I'm sure you have advice to share about how you've managed some of your ongoing business problems. Which tips above did you find helpful? I would LOVE to hear from you!
Anyhoo...I publish these business tips and motivational quotes to get you fired up for your work week! And, if you want more business tips, get my book, But Are You Making Any Money? or contact me to really take your business to the next level!
xoxo M
P.S. Of course that's not all we've got! Searching for more tips about running a business?
Then definitely take a look at these:
How To Find Financial Success In Small Business
Entrepreneurs – 5 Statistics that May Surprise You!
5 Tips to Maximize Your Pricing Strategy
I'd love to hear your ideas! So please comment below and then SHARE!
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