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Raising Prices in 2020? Here’s How to Measure Success

Many businesses will increase prices this January. For some, it’s an annual event to keep pace with rising costs while others may increase prices less frequently. Adjusting prices, up or down, has tremendous impact on profit margins. Even a 1% adjustment impacts earnings by 11% for the average company. So, with this amount of leverage, […]

7 Indicators That You Don’t Have Control Over Profitability

Measuring individual customer profitability. One-third of all customers in wholesale distribution are money losers when factoring cost to serve. Manufacturing companies suffer as well. Small orders, small accounts and high maintenance drain margins. Take the time to measure profitability with invoice data and cost data to set minimum margin thresholds. Target accounts below the minimum […]

How Small Data Delivers Big Profit

Big data has received a lot of attention in the last several years. The idea is that large amounts of data are analyzed to deliver insights that drive business improvement. In many cases, analysis of big data has delivered insights that lead to better business decisions. But, what if you simply don’t have “big data” […]

4 Indicators Your Business is Leaking Profits

Managing a business for maximum profit is no easy task. A wide range of profit drivers can change margins in an instant. And, profit leaks can drain margins faster than you can grow revenue. Your ability to control these factors determines your company’s financial success and its future. So, are you in control of profitability? […]

Most Companies Don’t Have Control Over Profitability. Here’s Why…

Most companies are flying blindfolded when it comes to controlling profitability. It’s not that they can’t measure profit margins. They know how the business is performing in terms of overall profit. They just don’t have visibility to the drivers that determine profitability. Profit is an outcome of a number of drivers that are constantly changing. Unless […]

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