By Rich Bond
How do you know if your business is facing financial friction? Ask yourself these three questions:
If you answer “No” to any of these questions – or worse – to all three, don’t blame the usual suspects: Covid, supply chain, or inflation. The hidden reason is that you are most likely facing “Financial Friction.”
Better financial information can dramatically reduce this friction. Let me explain:
If you’re like most business owners, you know who your largest customers are, but you may not really know who your most profitable customers are.
Too often, your sales efforts can be misdirected toward customers who are not profitable at all. The result is that while your company sales grow, your bottom line does not.
You can change this scenario. Here’s an example:
Better financial information resulted in a dramatic reduction in friction and an increase in sales and profits.
I would be happy to set up a 30-minute call to help you assess if your business is facing financial friction and discuss options for become more frictionless. Just message me on LinkedIn https://www.linkedin.com/in/richardrbond/ or email me at Richard.firstname.lastname@example.org.