Among the largest contributors to the failure of both small and larger businesses, are either;
- they fail to make a Profit: they don’t have a profitable business. or
- they incorrectly account for their cash and run out of money to pay their debts and tax liability.
This is particularly acute in small businesses where the owner/operators do not necessarily have much experience in financial matters and find themselves in an unexpected cashflow crisis.
The traditional approach to measuring a Profit is
INCOME – EXPENSES = PROFIT
This formula leaves a Profit as the “leftovers” in the operation of your business; no wonder so many businesses don’t make much in the way of a Profit.
In our Profit Autopilot Course, this conventional accounting is turned on its head. We start with the Profit you want to have, then show you how to adjust Revenue and Costs to deliver that desired profit.
So our equation is;
PROFIT = REVENUE – COSTS
where you manage the Revenue and Cost combination to be sure of getting the desired Profit.
This course also introduces the concept of a simple set of cash flow “Piggy Banks” that gives you a “set and forget” approach to cash flow management. This means that, when tax and other expenses become due, you have sufficient funds to pay.
So, once you have mastered Profit Autopilot, you have your desired Profit and the ability to pay key debts when they fall due.
The following lessons are included in the Profit Autopilot Skill Module:
- SM6.1 Background Information
- SM6.2 Profit Focused Business Model: strategy to get to desired profit
- SM6.3 Focused Business Model Video 1: video explanation Part 1
- SM6.4 Business Model Video 2: video explanation Part 2
- SM6.5 “Piggy Banks”: strategy for having cash when needed
- SM6.6 “Piggy Banks” Video
- SM6.7 Wrap-up and What’s Next
We do not know your business and its environment so we can only offer general advice on what might assist you to grow the Profit for the business you presently have. You should always seek professional advice on specific matters only discussed in general terms here.
We cannot guarantee results in any particular period of time or amounts.