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Financial Modelling from a Sales, Marketing and Value perspective - Become a Lazy Entrepreneur
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As we face yet another series of business challenges in the shape of inflation, interest rises, staff shortages and the potential for wage increases, it is more important than ever to have to be in control of your business.
At the core of this control is your financial viability and the tool that helps you with this analysis is your Financial Statement. Unfortunately it’s estimated that 75% of small and medium business owners have less than a basic understanding of their financial position. The remedy is for business owners to seek specialist advice from an accountant.
Typically when financial are mentioned people think of revenue and expenses. I’m going to cover two inputs into the revenue pot. These are Sales and Marketing
I discuss the importance of understanding your marketing objectives and how to measure the results. Marketing, done well, makes the sales process more predictable. Determining the Return On Investment on your Marketing spend needs constant monitoring and it’s the most difficult measurement to make because of the lag between input and output. Once again it’s knowing what questions to ask and using your Experiential Awareness when deciding what direction and investment to make.
Sales is somewhat easier in that it far simpler to measure. The difficulty is the interpretation of the results. Having a more consistent level of sales activity means that you will have more confidence in predicting the level of revenue.
Every decision on what to spend money on is based on the estimated return on the investment and the value that investment will bring. I look at the perception of value for money as a buyer and seller.
This episode meanders through the connections between marketing, sales and spending money and how these can be modelled to provide you with process to budget for the next few years.
Ask - Ryan Levesque
The Right It - Alberto Savoia
Blindsight Matt Johnson & Prince Ghuman
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