Our Go to Strategy to Create a Predictable Profit Plan

We all come to the point in our businesses where your business needs to step up its GAME to support you and your goals.

It is so very important to have a GAME PLAN for how you are going to design a PREDICTABLE, PROFITABLE business.

If you are committed to making your business meet your goals, you have to have a real profit plan in place to get to that point.

Do you have a real profit plan?

Let’s get started!

Start With a Calendar

A successful, predictable profit plan starts with a calendar. Business owners spend the majority of their time planning, and this is a very easy way to maintain your future goals and plans.

Plan your SALES so that you can hit your revenue GOALS.

Set a Profit GOAL

Profit won’t just happen on its own. Look over your goals for the year and envision how it will all play out. 

Set clear targets and make a PLAN for how you should and how you will get there! A target profit offers your business or brand a set of goals to work for throughout the entire year.

Hot Tip: Consider the number of units sold with its FIXED and VARIABLE cost. When it comes to an expected profit, slightly UNDERESTIMATE rather than OVERESTIMATE. 

Create a BUDGET

Make a DETAILED budget plan for your year. Make sure you check out all financing options that are available for your business. 

ALWAYS ensure that you have a backup ‘plan B’ in place just in case ‘things’ happen. 

Estimate just how much you believe your business is going to spend throughout each month as well as the full year ahead. 

List Expenses

Write down each and every expense your business or brand makes during your full operations of the year. This will let you know in which categories you are spending too much.

Hot Tip: Costing sheets are a great way to track all costs associated with each product you have. This will also help you to calculate the overall gross profit!

Calculate the Profit Margin

A margin is what will KEEP you in business. A profit margin is actually equal to the gross profit divided by the revenue and multiplied by 100. 

Keep Costs DOWN

Entrepreneurs don’t need to spend a LOT of money, especially if you are a new brand or business just starting out and are trying to expand for the long run. 

Find SMART ways to start with LESS money. If you plan ahead and plan accordingly, it can be done!

Set a margin that covers your costs including your overhead and make a realistic budget to help you achieve all your goals and plans for your future!

Profit plans are a great thing to make you ACCOUNTABLE for your business planning and spending, plus they work! Let us know what you think.

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Bonne Media