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Finance - F3

Improve Profits

This Method shows you how to extract more profit from every part of your business

The purpose

Learn how evaluate the detail of selling prices, costs of sale, gross margin, overheads and borrowing. Look for all the little areas of money waste that build up to a drag on the business. But also, see where intelligent spending can increase profits.

Summary

Runagood® Business Methods are online, practical instructions that have been created by business owners who’ve successfully implemented them before.

 You can select from their recommended actions, assign responsibilities, set times and budgets, track progress and share and discuss the work remotely with colleagues and your Business Advisor, all from any device

Steps included in this method

  • Set Up An Accounting Package
  • Grants
  • Recording all the profit drivers
  • Gross profit
  • Getting paid
  • Purchasing
  • Manufacturing and Assembly
  • Distribution
  • Net profits
  • Spending Authority
  • Typical direct / variable costs
  • Net profits
  • Contractors
  • Typical fixed type costs
  • Debtors
  • Loans made
  • Product Suppliers
  • Stocks
  • Service Suppliers
  • There are 3 sorts of profit:
  • Customer Types
  • Taxes and rebates
  • Bank balance - the (only) bottom line
  • Barrow Boys
  • Use management accounting
  • Deposits and Advances
  • Debtors
  • Productivity