One of the main objectives of for-profit businesses is to sell products or services. So, when customers start making purchases, it’s easy to assume that you’re on the right path to accomplishing your goals. However, most novice entrepreneurs fail to understand that generating sales is not the same as turning a profit. Similarly, making a few sales today doesn’t mean that you’ll make the same or more sales going forward.
The most successful small business owners realize that turning profits and increasing sales over time requires continual evaluation, informed decision-making, and effective change. More than checking how much money you made, entrepreneurs must evaluate sales reports to get a detailed picture of their company’s success (or lack thereof).…Continue reading