
Have you ever sat down and made a map of how your business makes money, also known as a profit map? If you haven't, I highly recommend that you do this exercise. It is sure to be an enlightening experience.
To create a profit map, you break down and put on to the map all your businesses processes. You are looking to answer the following questions:
Once you have made a profit map of how your business makes money I would put it to the side and ask yourself if you were starting a new business today how would the map be different.
Next, I would make a profit map of your ideal business and compare the profit map of your ideal business to the profit map you created of your existing business. Then start looking at ways to improve your existing business to more closely look like your ideal business.
If you need help developing a profit map or improving your profit map give us a call at the office we would be happy to help.
Tags: Business Strategies, News