Dear readers, in the previous episode we left out valiant business owner looking at a pile of expenses, realising how much they needed to drag in to break even.
Oh come on.
How much do you 𝘄𝗮𝗻𝘁 to earn?
Start writing some exciting $$ numbers on the whiteboard, and get focussed on the timing of that income.
Now about generating that revenue stream... CAPACITY COUNTS - how many (people + equipment hours) do you have available to generate revenue?
What are you using now, and how effectively are they being used?
Got your baseline - how many hours do you need to hit your new revenue targets. Are your available ‘effective people hours’ the amount you need to hit your new revenue target? Do you have the working capital to utilise them all? If so 𝗬𝗔𝗬!
If not call me, we need to either find more people and/or more equipment to deliver the magic number. And… we need to factor that cost into the cash flow to assess the practicality of the planned expansion.
And we probably need to build your working capital position to the point of supporting the planned resources. In either case, my recommendation is to engage a recruitment firm for the people, and a commercial finance broker for the money. Use the skills that are in the marketplace to get the best results.
What is going to drive all these new high-value clients your way.
Your marketing plan! 🙂
That will be episode 3.
Chat soon 😀
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