Is Your P&L Revealing A Strategic Flaw or Poor Execution?
I have designed hundreds of financial reporting packages–I’m not even sure of the count.
I’ve created reporting packages spanning 3 pages to nearly 100 in varying formats including raw HTML back in the ’90s, in Microsoft Publisher (I still do), Access, Excel (via F9 or Jet Reports), the old Microsoft FRx (is it still around?), and many other tool sets.
And while I can build these reports in my sleep and can even tell you some of the key numbers of certain clients dating back 15 years ago, I still see well beyond the numbers.
Flawed Strategy or Poor Execution
When I read any company’s P&L, I’m asking myself just two questions:
- Is there a flawed strategy?
- Or is there a problem with execution?
I even ask those questions if numbers are favorable compared to last year or against budget/plan.
In the video below, I address these questions and how I think any business owner or staff member should address these issues.
How About a Quick Homework Assignment?
Let’s just focus on customers/revenues. For each of the drivers creating and building revenues, name 1 or 2 strategies you need to fix or add for the following:
- Your finding activities
- Your getting activities
- Your keeping activities
- Your (customer) growing activities
Regarding that last bullet point, consider the more appropriate question:
Are your customers growing as a result of using your good or service? Why or why not?
Alright, it’s time to get to work.