by Industrius CFO | Resources, Tools
It’s standard practice for business owners to analyze their current financial statements to gather a general idea of whether or not their business is performing well, and then making adjustments or staying the course based on that information. But that approach falls short of helping business owners gain the deep understanding they need to assess how they stack up against their industry peers, to remain competitive, and to sustain a profitable business well into the future. If you know how to dig deep, and have the right tools to do so, your business’s financial statements can provide much more than just numbers and facts—they will hold valuable insights into its health and viability, and a strategy roadmap to help guide current and future business decisions. Performing a deep dive into your business data requires learning how to determine, interpret, and forecast important calculations and scenarios based on a number of financial, business, industry, and competitive factors. It’s not an easy task to take on alone, and it’s not always easy getting the information needed to make those accurate assessments and evaluations. That’s why IndustriusCFO helps business owners and financial planners take their financial data well beyond face value. We created an innovative and intuitive engine that does all of the heavy lifting of a company’s financial analysis, and then we combine that with a database of more than one million private businesses across more than 2,500 industry segments—powering our benchmarking tools to help make relevant and timely industry peer comparisons and evaluations. So, what exactly does our in-depth data and analyses look like, and how does it help business...
by Amanda King | Business Coaches, Business Owners, Certified Public Accountants, Tools
Social Media Increases Product Sales & Brand Awareness The beautiful thing about using social media for your business is that it’s less expensive than traditional advertising avenues like billboards, radio spots or print magazine ads. And, there’s a way to track impressions and the click-throughs rates to your website, which allows you to understand how those results translate into return on investment. Professional service providers: here are our top three tips for using social media in order to grow your business: Hire a Skilled Social Media Manager, If Possible Even if you’re a small consulting firm, hiring a skilled social media manager to oversee your social media channels is crucial. There is a stigma that the field of social media is centered on creating content and simply posting it. But, there are actually a lot of creative and technical moving parts behind the scenes. And, when you’re busy focusing on business, you need someone on your team that has the skills to write creative marketing content, research, engage with brand advocates (followers who like your product or service so much they’re eager to tell others about it), and then analyze content – differentiating between what’s working and what isn’t. If hiring a social media manager isn’t in your budget, hire an intern. Many colleges and universities offer social media/social media marketing programs. The first class of students to go through these programs will most likely be graduating around the end of this year. Tapping these new graduates will be cost effective, as well. Identify and Engage Brand Advocates and Industry Influencers Whether you are able to hire a social media...
