A fresh perspective on what it takes to run a moneymaking smallbusiness
If you’re a small business owner, you probably started out witha great idea, an entrepreneurial dream, and the willingness to workas hard as you have to. You’re up-and-running, your products andservices are selling, and you are working as hard as you can. Butwhere do you go from here? How do you get there? And how can you besure your business will make you money now and for the longterm?
Found Money presents a new and powerful approach tosmall-business success. It helps you figure out, instantly, whetheryour business is on-track or flying off the rails (and how tocorrect it if it is flying off the rails). Not only does it helpyou understand how your business makes you money, but how tocontrol that process as well. It offers accessible, easy-to-usetools and tactics to help you understand the links between whathappens in your small business and the financial results youachieve so you can proactively create the financial results youwant.
* Helps you maximize the money your small business makes byshowing you where additional profit and cash flow is hiding rightnow in your business
* Steve Wilkinghoff is an accountant and consultant who helpsbusinesses reach their full, money-making potential
* Foreword by Michael Gerber, preeminent small business guru
If you own your own small business but don’t know how to takecontrol of the financial results it gives you, Found Moneyhands you the strategies, tactics and tools you need to takecontrol, and direct and maximize the money-making process.
If you’re a small business owner, you probably started out witha great idea, an entrepreneurial dream, and the willingness to workas hard as you have to. You’re up-and-running, your products andservices are selling, and you are working as hard as you can. Butwhere do you go from here? How do you get there? And how can you besure your business will make you money now and for the longterm?
Found Money presents a new and powerful approach tosmall-business success. It helps you figure out, instantly, whetheryour business is on-track or flying off the rails (and how tocorrect it if it is flying off the rails). Not only does it helpyou understand how your business makes you money, but how tocontrol that process as well. It offers accessible, easy-to-usetools and tactics to help you understand the links between whathappens in your small business and the financial results youachieve so you can proactively create the financial results youwant.
* Helps you maximize the money your small business makes byshowing you where additional profit and cash flow is hiding rightnow in your business
* Steve Wilkinghoff is an accountant and consultant who helpsbusinesses reach their full, money-making potential
* Foreword by Michael Gerber, preeminent small business guru
If you own your own small business but don’t know how to takecontrol of the financial results it gives you, Found Moneyhands you the strategies, tactics and tools you need to takecontrol, and direct and maximize the money-making process.
Table of Content
Acknowledgments xiForeword xiii
Preface xv
Chapter 1 What’s the Purpose of Your Business? 1
What Do You Think Is the Purpose of Your Business?
So What Is the Purpose of Your Business?
The Found Money System Can Help
Five Keys to Success with the Found Money System
Chapter 2 When Does Your Business Make Money? 11
A Nasty Urban Legend
How Doesn’t Your Business Make Money?
How Does Your Business Make Money?
Triple Overlap–The Key to a Moneymaking Business
Watch Out for the Danger Zones
Chapter 3 Making Money: Net Profit 21
Net Profit
What Is Net Profit?
Controlling the Process of Net Profit
Chapter 4 Making Money: Return on Investment 33
Breaking It Down
Eating Soup with a Fork
Back to School
The Business Death Spiral
The Death Spiral in Action
Defeating the Death Spiral
Chapter 5 Making Money: Positive Cash Flow 51
What Is Cash Flow?
What Cash Flow Is Not Your Growth Limiter
Chapter 6 Is Your Business Making You Money? 61
Where Are You Now?
Is Your Business Making Money?
Chapter 7 Which Products Make You Money? (And Which Ones Don’t?) 67
Gross Margin–It’s Critical!
A Surprise for Me
The Ugly Duckling of a Successful Business
Gross Margin–What Is It?
Gross Margin versus Gross Profit
Gross Margin Analysis
Putting the Triple Overlap Together
Chapter 8 Gross Margin Math 87
Calculating Gross Margin
Chapter 9 Which Customers Make You Money? (And Which Ones Don’t?) 91
Moneymaking Customers
Customer Gross Profit
Customer ROI
Customer Cash Flow
CCM’s Cool, But Can It Make You Money?
Chapter 10 Your Customer Profitability Map 101
Your Very Own Drawbridge
Your Customer Profitability Map
Resonance Score
Back to the Customer Profitability Plot
Guard Your Drawbridge
Customer Profitability Map Tactics and Actions
Creating Your Own Customer Profitability Map
Analyzing Your Customer Profitability Map
Roll Up Your Sleeves
Chapter 11 Found Money Math (It’s Fun–Really) 131
Russian Roulette for Your Business
The Gross Profit Formula, Revisited
The Found Money Gross Profit Formula in Action
The Wizard of (Profit) Oz
It’s All About Leverage
Cost/Volume/Profit Analysis
CVPA as Your Business Roadmap
Getting There from Here
Chapter 12 Your Pricing Bootcamp 161
Some Thought-Provoking Questions
Your Found Money Replacement Factor
Step Toward Your Fear of Pricing
Your Found Money Price Cut Factor
Price Doesn’t Really Matter at All!
Your Price Strategy
Chapter 13 The End of the Line . . . and Just the Beginning 187
About the Author 189
Index 191
About the author
STEVE WILKINGHOFF has helped hundreds of businesses reach their full potential during his sixteen years as a consultant. He is a Chartered Accountant, a Certified Guerrilla Marketing Coach, and an active speaker.For more information or to receive Steve’s steady flow of new ideas and unique perspectives, please visit www.stevewilkinghoff.com.
Language English ● Format EPUB ● Pages 224 ● ISBN 9780470504161 ● File size 0.9 MB ● Publisher John Wiley & Sons ● Published 2009 ● Edition 1 ● Downloadable 24 months ● Currency EUR ● ID 2318726 ● Copy protection Adobe DRM
Requires a DRM capable ebook reader