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  • Writer's pictureJeannie Savage

Step 4 to Optimising for Profit & Cash

Updated: Oct 12, 2021

Here’s the fourth step you need to take right now to pull more time, money & freedom out of your business

First off, here’s a link to our earlier blogs:

Once you’ve mastered these steps, you’re ready to move onto step 4

Step 4 

Numbers Targets 

If you’ve mastered steps 1 to 3, have you mastered Numbers Targets?

Are you setting meaningful targets & other financial KPI’s? 

The principles around Numbers Targets are 

  1. Setting a Turnover Goal

  2. Setting other key financial KPI’s 

Ready to measure, monitor and take action. 

The consequence of failure around Numbers Targets is cash & profit leakage. You simply won’t be optimising your business for profit and cash. You’ll be leaving tens of thousands of dollars on the table.

Conversely, the benefits and what we see when our clients commit to their Numbers Targets are incremental improvements that all add up to a better bottom line. 

You can’t improve what you don’t measure & it all starts with creating goal posts (KPI’s, goals, budgets). 

My top tips around Numbers Targets are 

  1. Nail the areas around Numbers 101, Numbers Knowledge & Numbers Strategy first

  2. Then deep dive into your numbers 

  3. Have your industry benchmarks handy as a guide (or use the rule of thirds)

  4. Set a Turnover Goal & other financial KPI’s (like Gross Profit, Net Profit & Cost of Sales) 

  5. Wrap up your results in project management software like & ensure you use the data every month in a Strategic way 

When you commit to Numbers Targets you become a data-driven-organisation and that is key to success. 

If you’re struggling with Numbers Targets (or the steps prior) it’s investing in some help because you will get a great return and pull more time, money & freedom out of your business 

Find out how to optimise for profit & cash by taking our Digital diagnostic tool.

You may also book a FREE 20 minute Strategy call or book a FREE Planning mastermind with me.

© The Strategic Bookkeeper PTY LTD / Commercial in Confidence / All Rights Reserved

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