When You Measure You Win!

Knowledge is power.  It really is.

• How many widgets do you need to keep on hand for sale; for use?  Once you measure what you have in inventory vs sales you'll have the basics of what you need to make a profit.
• Know how many steps it takes to get around your office? Find a way to reduce your steps and you are on your way to being more productive.
• How many people do you interact with before one person hires you?  If it's 10 or 100; once you measure your introductions vs your new client rate you'll know how many people you need to contact to grow your business.
• Time for a change?  How will you know unless you can measure how long it takes to complete a project vs what you are paid.  Do you make a fair hourly or annual rate?  Measure and see!

Some creative professionals and business owners have such a passion for their work that they would almost work without pay-except for a little issue called 'cost of living.'

Love your work AND make a living by using your measuring stick.

Today, there are many online tools, apps and software to help you get this right.  If you aren't a techie-pencil and paper will do just fine.

Remember to track 'hidden' time and profit thieves.  Add up EVERY expense that you incur when performing your service or producing your product.  That means-extra consultation time, extra trips to the post office and even any added materials that you might be able to split among other products/services--but--they must be included to truly determine if your passion is producing a living.

Need help tracking expenses in New Jersey? Call ISG! 973-334-3110 OR www.callisg.com
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