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Know your numbers

4. August 2018 11:13

As a business owner, you know it is important stay current with your financials.  However, there are a few key questions that are often overlooked.

  • Do you know much you have invested in your operation and charge every customer to recoup that investment? If you do not know what you have invested and you do not charge customers for the investment how do you get paid back your principal investment costs?
  • What do you pay yourself and how to you determine an appropriate amount?
  • What is the current replacement value if you had one month to get back on track, say in the event that your shop burned to the ground and you had to reinvent your brand? How much would it cost to replace everything you have?
  • How many billable hours per employee are there?

Learn how to calculate these numbers and more during “The Art of Pricing for Profitability” during IWF.


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