Often, businesses test and measure a number of ways which prove to increase their profit, but most of the time they don’t see an effective pattern. There are many setbacks that can stop businesses making as much profit as they deserve, even things that can’t be helped like seasonal changes.
A business that has strong, sustainable profitability is a business that has several plans in place for setbacks they may come across that could potentially jeopardise their overall profit.
Not having profit sustainability in your business can cause several issues, such as cash flow problems, the lack of ability to invest in the business, not being able to afford new equipment and up to date training for your team, your own income being reduced, sometimes loss of profit, all due to inconsistent profit within the business.
The impact of these potential issues is that the business and its team become de-motivated so staff could move on and work will again be even more difficult for the business owner. The business could lose credibility in the marketplace, lose credit worthiness and ultimately go bust.
The perfect vision of a business with good, sustainable profitability would be to have a structure which defines these areas that directly impact profit. Actions should be put into place that can be measured to ensure continuous growth and improvement in profitability.
The Breakthrough Day Programme
IS YOUR BUSINESS ON TRACK FOR SUSTAINABLE GROWTH?
Breakthrough Day is a well-established, highly successful 3 monthly planning day. Its purpose is to enable business leaders to take a step back from continually working in the business to work on the business, and to visualise where they are heading.
This may include objectively assessing where they are now and specifying long term goals; next planning what they would like to achieve this year, all the way down to what specific actions will they work on now, to ensure their business and their personal life is on the right track.