Bluevine’s Post

💼 Relying on a single income source can be risky. Diversifying your revenue streams through products, services, and investments can stabilize and increase your income. Need help diversifying your revenue? Contact us for a business assessment! 🌟

One of the core problems most new businesses face..... Not enough profit.  Sometimes just understanding your break even and profit can be half the challenge  Here are some steps that will have you have a better understanding on your financial situation 📊 Take a closer look at your accounts and where your money is going and what it's being used for. Understanding your financials is key to boosting profitability. Your should be looking at this every month. 💡 Explore ways to upsell or cross-sell to your existing customer base. Adding value can lead to increased profit margins. 💷 Sometimes, raising prices is necessary to reflect the value you provide. Don't be afraid to pass on costs to your customers. 📈 Understand your numbers. This knowledge empowers you to make informed decisions and weather price increases. 💡Recognise that not all customers are the same. Tailor your products or services to meet the needs of your target audience. By taking these steps, you can address the profitability challenges facing your business and set yourself up for long-term success!  #BusinessProfitability  #FinancialStrategy  #EntrepreneurialJourney #iekos

🔍 Curious About Your Business's Worth? One of the most common questions I get from business owners is, "How much is my business actually worth?" The quick answer is to simply pay for a Broker Opinion of Value (BOV) report. Here's 5 quick values to you: 1. Your curiosity is satisfied inexpensively 2. You see what moves the needle for a future value 3. You get comps of other businesses like yours that have actually sold 4. You see multiples of EBITDA and SDE (Sellers Discretionary Earnings) 5. You understand "add-backs" that banks will allow Professional brokers will not obligate you to list your business, and can share valuable insights from past sales that could really bless your future. Want to know more? I'm glad to share freely. Let's begin! #BusinessValuation #SellYourBusiness #SmallBusiness

One of the core problems most new businesses face..... Not enough profit.  Sometimes just understanding your break even and profit can be half the challenge  Here are some steps that will have you have a better understanding on your financial situation 📊 Take a closer look at your accounts and where your money is going and what it's being used for. Understanding your financials is key to boosting profitability. Your should be looking at this every month. 💡 Explore ways to upsell or cross-sell to your existing customer base. Adding value can lead to increased profit margins. 💷 Sometimes, raising prices is necessary to reflect the value you provide. Don't be afraid to pass on costs to your customers. 📈 Understand your numbers. This knowledge empowers you to make informed decisions and weather price increases. 💡Recognise that not all customers are the same. Tailor your products or services to meet the needs of your target audience. By taking these steps, you can address the profitability challenges facing your business and set yourself up for long-term success!  #BusinessProfitability  #FinancialStrategy  #EntrepreneurialJourney #iekos

We’ve released our 2024 Business Owner Report which explores small and mid-sized business owners’ aspirations, concerns and perspectives on the year ahead. Despite an ever-evolving landscape, business owners are expecting their revenue to increase in the next 12 months. While economic concerns impact #smallbusinesses differently than mid-sized businesses, both are less concerned about inflation, interest rates and a recession. For more insights into the attitudes of business owners, read our report: https://bit.ly/3UrBx7W

Most business owners are overly optimistic in how they estimate their numbers... 3% revenue increases can quickly grow to "we're up like 10%" in their mind. And 8% cost increases can quickly diminish to "about the same cost as normal." SO: we have to measure. Consistently. Frequently. And accurately. If we don’t, profit almost always will suffer. 

82% of businesses fail because of poor cash flow management. Our calulcator shows you whether or not your business would be at risk during a recession. Poor cash flow management means one thing: REVENUE IS VANITY, PROFIT IS SANITY! Employee Profit Calculator 👉🏼 https://ow.ly/9USm50RvgJI

Most businesses in Martin County are considered small, so when Bank of America publishes its Small Business Report, we pay attention to see if its findings are similar to those we hear from Martin County business owners and entrepreneurs during Pulse Visits. And many of them are! If you are a small business, you may feel like you're on an island. Check out this report from Bank of America, and you'll find out that other small businesses are experiencing many of the same things. Most importantly, if you are a small business considering expanding or have a barrier to getting to the next level, please reach out to the BDB. That's what we're here to do: help Martin County businesses stay here and grow here!

Check out this blog post by ALF Senior Fellow Terrence Hill, Managing Director, JPMorgan Chase & Co. to learn how the business community can contribute to the lasting success of all midsize businesses.

The struggle is real and the answer seems daunting. Everything gets more expensive. But, your revenue remains stagnant. How do you keep up? First, don't panic. Then, try these simple steps to keep profits rising: 1. Re-evaluate your pricing: Is it too low? 2. Check expenses: Can they be cut? 3. Focus on profitable clients: Fire the rest. 4. Innovate: Create new products or services. 5. Invest in marketing: Get the word out. 6. Borrowing: Use credit smartly. The worst thing to do is to do nothing. Change is tolerable when it's incremental. Small wins lead to big gains. Stay progressive, stay alive. Be Intentional! #costofdoingbusiness #business #smallbusiness #businessowner #businesscoach