10. Know your figures and
have a plan–a plan that
works for you!
What do you want from the business? You need to establish
exactly what you want from it in terms of the hours you wish to
work and the sort of revenue you need or want it to generate.
You have to know your
own figuresand know
what you want to do with
them. At the start of every
year (either financial or
calendar) you must sit
down and decide what it is that you want
to do with your business for that year. Take your previous year’s
accounts and set some difficult but achievable goals based on
them. You know what you were slack at during the past year
- make sure that doesn’t happen again and develop a clear plan to
see these “resolutions” through.
If your gross margin was sitting at 70% the previous year then make
a target of 73% and produce a written plan for how you’re going to
achieve this. Better buying, price increases, more effective food
costing and pricing, less wastage or making better coffee. However
you’re going to do it, get it down on paper and attach a deadline to
the plan.
Wake up to why you might
have no profit...
“We tend to get what we expect.”
Norman Vincent Peale23