REVIEW your business sales, expenses, profit and bank balance -monthly at a minimum.
COMPARE the budgeted figures with the actual figures and analyse the variances.
MANAGE your business by changing your business plan if it is wrong and implementing strategies to improve your business bottom line.
QUESTIONS TO ASK YOURSELF:
- What value am I to my customers and can I add more value?
- Can I do it better, quicker or more efficiently?
- What other services can I offer?
- Who am I marketing my products and services too?
- Is this the right market for me or should I target another market?
- Are there any new products or services and can I offer?