Comments on: Business Tips: Profit is Sanity

By: Robert Craen

Robert Craen — Wed, 25 Aug 2010 06:23:54 +0000

There’s nothing wrong with listening to Robert Craven!

By: Phil Hendy

Phil Hendy — Tue, 20 Jul 2010 20:52:06 +0000

Eric, you’ve definitely been listening to Robert Craven! It is a good point though.

By: Dan Knowlson

Dan Knowlson — Mon, 19 Jul 2010 21:12:44 +0000

Best get practising my juggling in that case… I’ve heard the key is to juggle stood on the edge of a cliff, so you can’t walk forward! Or you could try a wall to practice against

By: Eric Woodhams

Eric Woodhams — Mon, 19 Jul 2010 17:55:34 +0000

You need to juggle three balls to be a success in business –
The ‘Finance’ ball
The ‘Marketing’ ball
The ‘Operations’ ball

If you keep your eyes on these, and keep them in the air, the business will look after itself ‘cash-wise’!

By: Eric Woodhams

Eric Woodhams — Tue, 13 Jul 2010 23:27:25 +0000

Great article Roland.

I think too many company directors spend too much time working IN the business and not ON the business, as Simon commented.

I see it all the time in my dealings with estate agency businesses. That industry is so expensive to run nowadays. There certainly aren’t the profits in it that there used to be. Directors spend too much time being REACTIVE instead of PROACTIVE with their business dealings, and often don’t realise that the business is losing money, until it is too late.

Cash is king – Keep your eye on that!

Eric

By: Roland Millward

Roland Millward — Tue, 13 Jul 2010 21:08:02 +0000

Shane. Thanks for commenting. Success can be measured in many ways but every business must make a profit to survive.

By: Simon Thurston

Simon Thurston — Tue, 13 Jul 2010 16:45:44 +0000

Turnover is Vanity – Profit is Sanity, lol – this is so true.

One of the issues I experience most with my clients is they are often unsure where and how to spend their money, and so they just do it haphazardly. For example, they may be running an advert in the newspaper and have no idea how well (or otherwise) it is doing – this is suicide.

Even making sure that clients of their pay their invoices on time can help, but in my experience business owners are often too busy working IN their business, as opposed to ON their business.
Simon Thurston´s last [type] ..Comment on What Marketing Can Do For You by Roland Millward

By: Shane Hudson

Shane Hudson — Tue, 13 Jul 2010 16:23:37 +0000

As Phil said, if you think of incoming money as your/the business’s money then you could in theory make a loss! Profit is very important in business (though of course… big profits does not mean big success).

By: Phil hendy

Phil hendy — Mon, 12 Jul 2010 11:46:01 +0000

This is a great article Roland.

I come across so many businesses who don’t take into account their full costs when deciding on their own fee structure. It’s really important to get an angle on what your spend is and then apply a profit margin to it.

If anyone wants any advice on this topic just give me a shout!