We know your cash report has been a loyal companion to you. Most of the time, you love seeing that little report with all the money your company has been making. Every once in awhile, you and your financial report might get into a fight, since it’s telling you something you’re not ready to hear. Yet for the most part, you can’t imagine doing business without this vital report.
Well, we’re sorry, but someone has to tell you this – your cash report needs to be fired.
The Harsh Truth
We’re sorry to tell you this harsh truth, but it is completely necessary. Your financial report is only telling you a little bit about your business – and everything it is leaving out could have a huge impact on your success. This report may give you a snapshot of your revenue, but is it telling you the reasons why you’re making that money? Probably not – and that’s where many business leaders get tripped up by their very own financial reports.
Not convinced? Let’s take a look at a few of the questions you should be asking yourself:
Does Your Report Break Down By Customer?
If you don’t know how much your customers are spending as soon as they walk through the doors of your company, you’re missing out on some serious opportunities. For example, maybe you haven’t identified your best customer – and you’re sending them the wrong marketing materials. Maybe you’re spending too much money marketing to clients who haven’t spent a single dime since 2009.
Whatever the case may be, if you don’t know who your best and worst customers are – and how much they’re spending with your company – you could make some seriously debilitating mistakes.
Does Your Report Demonstrate Seasonal Trends?
If you want to make as much money as possible, your financial report needs to demonstrate seasonal trends. After all, if you don’t know when your company is going to make the most money – or worse, when you’ll go through a dry spell – then your organization is left to the mercy of the seasons. A history of cash reports can show you when you’re most likely to sell, and when you need to prepare your company for a lack of customers. When you can anticipate these situations ahead of time, you’re much more likely to stay where you belong – in business!
Does Your Report Break Down by Product?
Quick – do you know what inventory is selling like hotcakes?
If you had to spend more than a second thinking about that answer, then you may not be optimizing your inventory in the best way possible. Ideally, you want to order your most popular inventory, while minimizing the number of unpopular products left on your shelf.
Download the Cash Report You Need Today
Don’t settle for a financial report that doesn’t deliver. Get everything you need – and more – here.