Knowing Your Numbers Part 1
In this lesson Martin tells us the numbers that we need to know and how to use those numbers to grow your business. He reveals the number one fear of business owners and then goes onto explain how you can avoid it. There are some things that can be confusing like the difference between gross and net profit and what they really mean…all is revealed here. You will learn how to calculate your hourly rate as well as how to increase your profit by 95% with three simple steps! All of this and much more is covered in this lesson.
Knowing Your Numbers Part 2
By clicking here you can download and then use and save your very own version of Martin’s Worksheet. If you don’t have an application similar to Microsoft Excel simply click here where you can download a safe, free application that will enable you top open and edit the worksheet. The worksheets are excellent and will really enable you to take control of your finances.
NOTE: You need to download and save your own version as the linked version is read only.
Here Martin further explains the other numbers you need to know including your own lifestyle costs and how to set achievable financial goals. By using these worksheets you will be able to do sales analysis and see if your current practises are sustainable. This then allows you to see what adjustments you need to make to achieve your “inspiring lifestyle”.
In this pro tutorial Martin of Martin Robertson Associates (Chartered Accountants) shares with us the importance of knowing your numbers. It's very easy as a creative person to sometimes neglect the more technical and financial aspects of business, but if you don´t already know you soon learn that this is the most crucial area of running a business. In this tutorial Martin takes you through some of the key numbers that you need to know and how knowing these number can enable you to increase your profits by 95%! Being smart with your numbers will allow you to take control of your business and take it to the next level. You may feel overwhelmed and confused by all the various things to calculate and consider but Martin is here to lead us through it all complete with downloadable and usable finance spreadsheets.
Some things that will be covered are -
- The numbers you need to know
- Developing financial goals
- Gross and Net Profit explained
- Controlling your overheads and income
- Increasing your profit
- Working with monthly worksheets
- Planning for the future
Martin has gone through his own rocky journey and at one point had to turn things around quickly and using the numbers and methods mentioned in this tutorial is what saved his business. If you want to learn more... Martin has published his own book and can be purchased here.