Would you be able to answer all of these financial questions without having to dig around or ask your accountant for the information?
- What was your revenue in 2016 and what profit did you make
- What was your profit for the last month?
- What was your gross-profit margin for the last 12 months?
- What was your net-profit margin for the last 12 months?
- How much operating cash flow do you currently have?
- What does your cashflow forecast say about your bank balance two months from now?
If you can’t answer ALL of these questions within a couple of minutes and without having to ask your accountant, then you may need to improve your financial management?
What about your marketing and sales numbers?
- How many leads did you get in 2016?
- What was your lead conversion rate?
- How many people visited your website last month and how did that compare with this time last year?
- What is your average unit of sale?
- What is your email marketing open rate?
- How many LinkedIn contacts do you have?
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