Track the Numbers in Your Business for Success
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Do you know the numbers in your business?
\\nShaz shares the numbers that any successful business tracks weekly to ensure they know exactly what’s going on and can adapt and respond to make sure they are always moving forward to achieve their goals.
\\nMany businesses don’t know about what their numbers are but it is the key element that separates those who are successful with those who are not, listen in to hear exactly what you should be tracking to achieve the success you want.
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KEY TAKEAWAYS
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- Track the essential numbers in your business at least quarterly. \\n
- It is better to track your numbers ideally weekly or at least monthly. \\n
- Use your management accounts to track your turnover, costs, profit. \\n
- The businesses that are successful obsess over their numbers and keep a very tight grip on their accounts. \\n
- Your accounts are a rear-view mirror, good for looking at what’s already happened but not particularly useful for making progress forward. \\n
- Your KPI’s are what determine your direction and how you get to your end goal \\n
- Accounts should be tracked every month, alongside key performance indicators, with both success drivers and cost drivers. \\n
- As you progress you will begin to identify what you need to have as KPI’s to bring success to your business. \\n
- The most important thing is to get started. \\n
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BEST MOMENTS
\\n‘Your accounts are your rear-view mirror, a historic account of what’s already happened’
\\n‘Management accounts, KPI’s track them regularly with your team to achieve the success you want’
\\n‘Understand what the key areas are that you, the business owner should be working on’
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VALUABLE RESOURCES
\\nshaz@aaa-accountants.co.uk
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ABOUT THE HOST
\\nShaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
\\nShaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
\\nHe is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
\\nYou can find Shaz on:
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This show was brought to you by Progressive Media
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