Just as people can get out of shape over the course of a stressful year, so can companies. Whether your business has experienced a rapid growth spurt – or perhaps been starved for sales or adequate capital – it can benefit from refocusing on three core objectives:
1. Strong Revenues
A profitability breakeven analysis will tell you how much revenue you need to be profitable. Falling short? Make changes on the sales side – for example, invest in R&D or find new customers.
2. Profitable Production
If production costs are too high relative to sales, consider increasing prices, finding better production methods or discontinuing less profitable offerings.
3. Minimal Operating Expenses
Monitor costs not directly attributable to production, such as employee compensation and marketing expenses, relative to sales. Adjust budgets as necessary.
Contact us. We can assess your company’s health and help put it on track to meet 2018 fitness goals.