Tag: Business Efficiency
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Try Using This Underrated Financial Metric
Nice Assets “The goal is not to grow bigger; the goal is to grow better.” — Peter Drucker What’s your favorite underrated financial metric? (seriously, reply and let me know) Mine is the asset turnover ratio (total sales divided by total assets), and I finally came across a great example of it in the wild: fast-casual restaurant chain,…
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Do More By Doing Less: 12 Quick Simplifiers
“Perfect is the enemy of good.” — Voltaire Let’s say you’ve been running a business for several years now and you’re feeling overwhelmed by the amount of “stuff” to do on a daily, weekly, monthly basis. What are some fast and easy ways to “simplify” things in your business and workload to make life easier?…
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Top 3 Cash Flow Tactics
How do you define success in your business? To me, it means the ability to take consistent cash distributions from a company. 1) Repurposing prices This tactic could work for both inventory and service based companies. Get creative on pricing. Instead of taking your slow moving inventory and deeply discounting it by 40-50% off, try…