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Posts Tagged ‘Profit and Loss’

Are you asking better questions?

Wednesday, April 3rd, 2019

How often do you wear your CFO hat?

You know, the one where you look at the numbers. I realize that lots of creative types do not want to look at numbers.

After all, what could be creative about numbers? They are straightforward, no shades of gray here.

True, the numbers in and of themselves are not creative.

What is creative is what you get to do as a result of looking at them.

You can create new designs or new classes. You can bring on an apprentice to help you. You can look for new markets for your art. You can look at ways to expand and make a bigger impact.

The problem is that you have to know what the state of your business really is.

And the only way to do that is to look at your numbers.

Read more…

Plug The Profit Leaks in Your Business

Wednesday, July 13th, 2016

profit-leaks

Do you remember the lyrics of a childhood song, “There’s a hole in the bucket, dear Liza, dear Liza”? I don’t know if kids still sing this today or not. In the 1950s and 1970s, a British comedic duo, Flanders and Swann, wrote a parody named “There’s a Hole in My Budget.” Well, for some of us that hole is all too real.

Last week I was working on a new webinar titled “5 Smart Ways to Make Money in Your Creative Arts Business Now.” While you definitely want to bring more money into your business, you may have holes in your business where money is just leaking out. Bringing in more cash does not negate what you are losing.

To get started, you will need to actually look at your numbers. Yes, I know that it is not as much fun as creating, but you can’t find the leaks otherwise.

Read more…

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