Traditional cost accounting is not 100% accurate when trying to determine which products are the most profitable to manufacture in your company. Why? Simply put, it does not factor in your business’s constraints. dollars per minute which will determine each product’s profitability. This form of accounting provides a clearer understanding of issues in your company and a path to solving them quickly so you can gain greater profitability. Watch the vlog to learn more!
Miscalculating the actual costs of your product or service hurts your bottom line. The good news is there is a formula that you can use to determine the relative profitability of each of your products and services. When applied to your quoting process, this calculation will guarantee your business makes a profit with every sale. Watch vlog 4/8 to learn more!
Knowing how profitable your business will be each day, week, and month requires you to schedule your throughput dollars per job in advance. Watch part 3 of this 8 part vlog series to learn more!
Your business MUST understand where it’s pinch point is on it’s path to profits. Once you understand where your pinch point is, every preceding or proceeding step to that process can be worked on to address that relationship.
If you’re like most businesses, you might not be achieving your full profit potential because you aren’t paying attention to your business blind spots.
Whether you’re outside of your comfort zone, under a lot of pressure to perform, or speaking in public, stress affects us all in different ways. It’s that clammy-hand, heart-racing, and sweat-dripping reaction to uncomfortable or unfamiliar events. Everyone can relate. While stress is inevitable, it can be handled in a way that is both productive and beneficial. Watch this video from ActionCOACH Mark Phelps for tips on how to cope with stress.
In this blog post, Mark Phelps of ActionCOACH shares his take on a recession, and he answers a question that many business owners struggle with: Should you raise your rate(s) or price(s) during a recession?
The goal of Mastery is to eliminate the chaos in your business by focusing on becoming proactive, not reactive about decisions. Learn more in the blog post.
Smart small business owners have a pulse on how much money is coming in and going out of their companies each month. They know that a business goes bankrupt when it runs out of cash to pay its creditors on time, which is why you need to manage your cash flow carefully.
If you’re like most business owners, you wear many hats – human resources, sales, accounting, operations, CEO – and you juggle them all. With limited hours in a work day, your daily schedule is sacred and the key to your productivity. How you manage your time is the difference between you taking control of your…
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