Lesson 28 of 43
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Having already explored the 5-Levels of your OFFERING, you should be clear on your potential income streams. This can form the basis of your sales projections and budget. 

It is vital to measure your sales as well as your margins with every product, service, and subscription. This can be done through the KPIs tab on the Journey Template. For help with figuring out the right formulas, please don’t hesitate to book a Consultation. 

If you have 3 products that you sell, it’s essential to know which one generates the best return when all is said and done. Analysis relating to the product lines can require specific knowledge of the process, the industry, and the circumstance. For example, you might have a tasty Christmas Chocolate Hamper that you cash in on, however, you might not be advised to ditch your artisan Easter Eggs that produce less margin because some profit is better than none in the quieter seasons. 

Some businesses thrive due to a diverse portfolio of things to offer. Diversification can offer a foundation of stability so that if one service isn’t selling, attention can be put into pushing something new in that season. Specialism can however offer entrepreneurs a more streamlined approach which brings focus. 

If you know where you’re spending your time and where you’re spending your money, it’s good to review this in context with regard to where you’re making money.

To manage your money well, we always recommend:

  • Forecasting (sales projects and budgets) 
  • Monthly Measurement (KPIs)
  • Review Meetings each month or quarter with your, team, business coach or accountant
  • Appointing a qualified accountant