73 – Why You Need to Know How to Increase Revenue to Be More Profitable
April 20, 2022
What is revenue and why is it so important?
Let’s start with looking at profit. Profit is the outcome; the end result. It’s quite simply what’s left over from your revenue when you deduct your expenses.
Profit is the final score. Just looking at the final result and saying how much you want it to increase won’t make any difference.
By focusing on the four factors that will create more profit, the end result improves naturally.
So, with profit being what’s left after deducting expenses from revenue, it should be no surprise that increasing revenue is an important factor in growing a business profitably.
Revenue is the number of customers you have, multiplied by the number of times they buy from you and how much they buy each time.
Paul Sweeney Chartered Accountant & Business Advisor, launched Pretium Solutions after a long and successful career in accounting and business advisory. Paul credits his passion for small business with growing up in country NSW, where family-run businesses were the cornerstone of everyday life.
For Paul, the driving force behind The Business Behind Your Business was to make high end, proactive, directed and value-based advisory services available to small to medium businesses.
Paul brings to the table decades of experience as a highly qualified accountant and business advisor at every level of business. Through consulting, coaching and on-the-ground training and operations, his focus is on unlocking the untapped potential for greater profitability. Paul’s qualifications allow him to pair strategic advice with an advanced understanding of taxation and compliance matters.
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