Is it a Sales Problem or a Money Management Issue?
“Finances and marketing numbers are a game as well. So understanding how those numbers overlap can be a game changer.”—Melissa Houston2023 has not been a great year for business owners. It’s been a rough year, really, with a lot of things happening around us and the economy affecting many different sectors. Experts are debating whether we’re experiencing a recession or not, and the thing is, we’ll only know we are in recession around six to eight months into it. Even though we’re not “officially” in a recession, some businesses’ revenue and sales fall, others go bankrupt. And so a lot of my clients go to me and ask, “Where is the money going?”But we shouldn’t wallow in pity for the difficulty brought to us by this challenging year. Instead, we should analyze the root cause of our problem. Is it an issue brought by money management or a sales problem?In this episode, we will talk about how sales and money management are critical parts of growing your business.Listen to learn:What your numbers look like at the end of Q32023 is a tough year for businessesWhy finances and marketing are a numbers gameWhy sales without profit is a red flagIs it a sales problem or a money management problem?Steps to take to explore the root cause of your problemHighlights:01:16 What your numbers look like at the end of Q301:46 2023 has been a tough year03:02 Why marketing is crucial for sales05:21 Is it sales or money management problems?07:09 How to identify the root cause of your problems?07:46 Tip 1: Analyze your finances09:39 Tip 2: Assess your sales strategy10:50 Tip 3: Identify the external factors12:45 Tip 4: Find a balance13:17 Tip 5: Seek professional help when you’re strugglingLinks: Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCash Confident Framework™️ CourseMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa