Effective strategies are critical for growth of your small business. Gathering and analyzing your company’s financial data 
is the best way to gain valuable insights into your short-term and long-term execution and focus.
Your financial statements and other accounting records provide evidence of what your company does well or poorly. And you can leverage bookkeeping, those numbers and accompanying data to continuously improve your small business strategy.
Define Challenging and Attainable Financial Objectives
Your company’s historical financial information lets you devise the growth strategies most likely to succeed going forward. Your accounting data is key for determining what you can reasonably expect from your business in terms of its future performance.
Most small business strategies are focused on a few common financial objectives:
• maintaining and sustaining positive cash flow
• generating more profits and accumulating capital, and
• scaling and expanding your business operation
Your business’ financial information will show you strengths and where improvements may be made to achieve such goals.
Common Growth Strategies
Keeping an eye on your financial situation is key to managing future growth.
Accurate and up-to-date bookkeeping helps you ensures that you are building profit from each sale. Once the basics are in place, viable growth strategies for your business may include those listed below.
Increasing sales from existing customers – This approach often involves finding ways to cross-sell and up-sell to existing customers or prospects in your target market or modifying your pricing structure.
Pursuing new customers in adjacent markets – Increasing or varying a product or service may allow you to reach a new market.
Cutting Expenses – Regularly re-evaluating your on-going costs can yield sustainable savings and sometimes introduce new ideas or innovation.
Optimizing Processes – The key to is define more scalable processes for future growth and combining more efficient techniques with less time, labor or cost waste.
Building Key Partners – Building strategic business, suppliers or sales channel relationships may spark growth through superior offerings or improved market reach.
Get Help to Leverage Insights
Creating and executing a successful business strategy often works best with external perspective and advice. When it comes to exploring financial options for your small business, don’t overlook using an accounting professional with proven experience in your industry.
In any successful business strategy, there are cashflow and profit trade-offs to evaluate. Sales volume, timing, pricing and customer value need to be considered in the mix.
Evaluating growth opportunities with the help of an accounting specialist will help you analyze your financial picture.
Focus on what you do best
YourBizManager can help! You can start the process by sending us an e-mail to info@YourBizManager.com or by texting or calling 424-246-6006.
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About Doris Cristiano & YourBizManager
As an independent bookkeeper, Doris Cristiano has been providing flexible business services on the west-side of Los Angeles since 1997. To support business needs and growth, YourBizManager tailors its services to each unique situation and works closely with its Clients’ at their business or home office. More About Us
