Small Biz Money Tips from Justin Krane
Marketing: Think of it as an investment, not just an expense. Consider investing 10% of your sales in marketing
Making Money off Delegating: Make sure you are aware of who is responsible for generating an ROI when you delegate. For example, if you delegate non-essential tasks to an assistant, that frees up your time to generate more business. So the ROI responsibility is on you, not your administrative assistant..
Tracking: Track your profits and cash every month. The more aware you are of what is going on, the better decisions you can make.
Recurring Revenue: Create a product or service that has recurring revenue. Think about what your prospects would buy from you over and over again. A business that has recurring revenue is usually worth more to a buyer.
Justin Krane is a money strategist for business owners. His mission is to help business owners understand the money side of their business. He teaches entrepreneurs how to be strategic with their business money so that they can grow their businesses. Justin isn’t about cutting back and living a frugal life. Justin is all about getting the shoes, doing sushi, and living the best life today – while saving for the future. He has been featured in CBS, Fox Business News, and MSNBC.