For today's #MamaclayMondayMinute Jayson reminds us that not all growth is good growth. You'll want to multiply your efforts in the parts of your business that make you the most money. Said differently, if you grow something that just breaks even, or possibly loses you money, after you take into account your costs, then you're not helping your bottom line at all! If you need help figuring out which of your business units are making you the most profit, let us know - we'd love to help! #FractionalCFO #TransformationalAccounting #Entrepreneur #Bookkeeping
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For today's #MamaclayMondayMinute, not all growth is good growth. In order to get the biggest bang for your buck, knowing what revenue streams are your most profitable is really important. Think about it - if you invest time and dollars into something that ultimately doesn't make you a lot of profit, maybe just breaks even when all is said and done... or worse yet, is actually LOSING you money each time you do it... then that won't move you toward a goal of sustainable growth. You want to grow the pieces of your business that make you the most profit, open up the most opportunity! Do more of the thing that gets you more money in your bank account. This is especially true if you have a choice of where to allocate some key dollars for investment. It seems like common sense, but it's easy to get caught up in lots of other things that can distract you from the ultimate goal. If you need help figuring out what are your most (and least) profitable revenue streams, definitely hit us up! We do this for clients all the time :) #FractionalCFO #TransformationalAccounting #Entrepreneur #Bookkeeping