When looking at how well a business is doing, it's important to pay attention to certain numbers. Here are some important ones to think about:
Sales Revenue: This tells you how much money your business brings in. For example, if your sales go up from £10,000 to £15,000, that's a sign that your business is growing!
Profit Margins: Knowing your profit margins can help you see how efficiently your business is running. You can find profit margins by using this simple formula: (Profit ÷ Revenue) x 100. If your margins are higher, it means you are doing a good job of controlling costs.
Customer Satisfaction: Sending out surveys regularly can help you find out how happy your customers are. Happy customers are likely to come back and buy from you again.
By keeping an eye on these numbers, you can see how you're doing and make smart choices for your business!
When looking at how well a business is doing, it's important to pay attention to certain numbers. Here are some important ones to think about:
Sales Revenue: This tells you how much money your business brings in. For example, if your sales go up from £10,000 to £15,000, that's a sign that your business is growing!
Profit Margins: Knowing your profit margins can help you see how efficiently your business is running. You can find profit margins by using this simple formula: (Profit ÷ Revenue) x 100. If your margins are higher, it means you are doing a good job of controlling costs.
Customer Satisfaction: Sending out surveys regularly can help you find out how happy your customers are. Happy customers are likely to come back and buy from you again.
By keeping an eye on these numbers, you can see how you're doing and make smart choices for your business!