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Number 132                                                                                         August 1, 2014 
In this Issue
Your Money/Your Life
Musings
Shayna's Success Stories
Rolling Notary
Your 2 cents
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Musings -

Measure Your Work

       Your bottom line is your target, right?  Oh, no.  The bottom line does not tell about your profit or return on investment, it only tells you about your revenue.  Cash in hand is not the same as money in your pocket.

       Your ROI (return on investment) tells you how much you realized from your investment.  For example; if you invest $100. to earn $150. Your ROI is 50%.  If you check with other companies in your industry you will be able to determine what the average ROI is for your industry.  Knowing this number is a good gauge of how you are doing.

        If your ROI is very different from the industry average something is very wrong.  It is the red flag that warns you that changes are necessary.  You may be making the wrong investments, or you may have not figured your costs correctly.

       There are some other metrics that should be included in calculating you cost of doing business besides wages, benefits, and the light bill.  Do you know how much it costs you to acquire a new customer?  This number would include all of your marketing, sale s, PR, and related overhead. 

       How strong is you base of repeat customers?  High numbers will reduce your cost of acquiring new customers; low numbers mean that you have to redefine your marketing systems.  Repeat customers improve your brand and image and cost you less through than getting new ones.

        Keep in mind that most businesses will lose at least 10% of their customers each year through attrition; they move, their lifestyles change, or their needs change.  You constantly need to be striving to replace them.

       It is important that you have a system in place that can compile all these numbers for you.  There are software choices or live people to help you.  Find the best choice for your business and use it.  It may be the most important tool in you toolbox.

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      Shayna's author DonnaUpshaw is available for custom cartooning and also has a line of wonderful note cards to bring smiles to your clients.. Click here to follow Shayna's Success Stories  from the beginning of her adventures.


   Left Stars

 

Your Money-Your Life

Use Your Timer

       Do you have projects left over when you run out of day?  You know that I am a strong advocate of lists; I am also a strong advocate of timers. 

       When you make up your list try to estimate how much time you will need to finish an item.  Your timing  isn't carved in stone, but it is a guideline for organizing your day.

       If you have to tackle a project that you just abhor, set your timer.  Dedicate a specific time, like 15 or 30  minutes, when the timer rings quit and save the rest for another day; occasionally you may become so engrossed that you ignore the timer, that's OK.  Remember, you have the freedom of choice.

       I also use a timer to remember little things, like turning off the water in the garden, or the need to start getting ready for an event. 

       Using these tools will help you be more efficient, and a lot less frazzled. You will also enjoy the benefit of crossing things off you list.

                                                 

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 is a team of  creative professionals whose mission is to fully understand your vision and goals, and bring to the table innovative solutions and fresh ideas, in order to define and implement projects to completion.  It is our priority to build successful, long
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