Why you should focus on financials last
A revenue strategy is important, but it’s only one piece of the puzzle. If you don’t have a solid foundation for your business – understanding your People, your Processes, and your Customers – you might strike trouble regardless of your revenue.
You can be the best salesperson in the world, and have healthy revenue… but if you don’t have your back end house in order, or you’re selling the wrong thing to the wrong people at the wrong time, your sales may take a hit – and your profit is unlikely to be as healthy as it should.
If you don’t understand your margins, your profitability will suffer. And if your systems are poor, you’ll be inefficient at what you do, which may impact on customer satisfaction – and reduce repeat business and referrals, which are critical to SME success. So it’s vital your customers are ‘wow’ed so they keep coming back, and bring others with them.
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