I recently talked to one of our Clients over at Ciera + Co. today about reaching 1 million in revenue...

Here's the advice I gave them...

1. Track ROAS (return on ad spend) daily.

Understand exactly what it looks like & costs to acquire a new customer.

When you determine it costs say 2 dollars to get a customer to spend 10... your net is 8 dollars... this is ROAS.

Now what's the cost of the product sold? Say it's 2 dollars... so 8 dollars in revenue minus cost of goods sold is 2 dollars is 6 dollars in gross profit.

Understanding THIS gives you the ability to scale up marketing efforts to make more money and acquire clients faster.

2. Scattered efforts get scattered results.

Focus on increasing the volume of your products sold that result in the most cash collected.

The answer isn't to add more products or more offerings... its to do more of what's already working.

3. Look at all business expenses as investment opportunities. Is this helping you grow your business?

Whether it's giving you time freedom so you can generate more sales or it's something that has the potential to generate more cash see your investments through.

If it feels like expense evaluate it. Is it needed? Why or why not?

Now, I know most of you are likely not having these conversations with your Accountant.

But here's why these conversations are important.

Your money decisions are the pulse of your business.

You can be amazing at what you do, the best in your area, the category queen...

But who cares if you can't pay yourself, you aren't truly creating financial freedom, you are going into debt... or avoiding being compliant.

Hope this helps and if you want to have a conversation about your business growth let me know.

I'm here to help.

Talk soon,