23 Aug '13, 12pm

Smart Metrics Increase Profits: Want to increase your profits? Get granular when looking at your financials. #supply

Smart Metrics Increase Profits: Want to increase your profits? Get granular when looking at your financials. #supply

To increase your profits, look at your financials on a granular level , rather than in aggregate. Your business probably has more than one product, more than one service, and more than one revenue stream. However, if you are like most people, you typically look at your financials in aggregate. You are shown a snapshot -- homogenous revenue opportunities and cost inputs. A snapshot is inadequate for drilling down and determining how you can increase profits. You need to get granular with your financials. Start by looking at your sales figures . Look at profit by product type, region, brand, etc. Are there similarities? Differences? Outliers? By looking at your figures on this level, are you able to identify what works? Stumbling blocks? Barriers? Or do you need to drill down further? For example, is the success of a specific product a result of work by one specific team? Ca...

Full article: http://www.ebnonline.com/author.asp?section_id=2171&doc_i...

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