Found Money : Simple Strategies for Uncovering the Hidden Profit and Cash Flow in Your Business

A fresh perspective on what it takes to run a moneymaking small business If you're a small business owner, you probably started out with a great idea, an entrepreneurial dream, and the willingness to work as hard as you have to. You're up-and-running, your products and services are selling, and you are working as hard as you can. But where do you go from here? How do you get there? And how can you be sure your business will make you money now and for the long term? Found Money presents a new and powerful approach to small-business success. It helps you figure out, instantly, whether your business is on-track or flying off the rails (and how to correct it if it is flying off the rails). Not only does it help you understand how your business makes you money, but how to control that process as well. It offers accessible, easy-to-use tools and tactics to help you understand the links between what happens in your small business and the financial results you achieve so you can proactively create the financial results you want. Helps you maximize the money your small business makes by showing you where additional profit and cash flow is hiding right now in your business Steve Wilkinghoff is an accountant and consultant who helps businesses reach their full, money-making potential Foreword by Michael Gerber, preeminent small business guru If you own your own small business but don't know how to take control of the financial results it gives you, Found Money hands you the strategies, tactics and tools you need to take control, and direct and maximize the money-making process. Found Money: Simple Strategies for Uncovering the Hidden Profit and Cash Flow in Your Business......Page 5 CONTENTS......Page 9 ACKNOWLEDGMENTS......Page 13 FOREWORD......Page 15 PREFACE......Page 17 WHAT DO YOU THINK IS THE PURPOSE OF YOUR BUSINESS?......Page 25 SO WHAT IS THE PURPOSE OF YOUR BUSINESS?......Page 29 THE FOUND MONEY SYSTEM CAN HELP......Page 31 FIVE KEYS TO SUCCESS WITH THE FOUND MONEY SYSTEM......Page 32 A NASTY URBAN LEGEND......Page 35 HOW DOESN'T YOUR BUSINESS MAKE MONEY?......Page 38 HOW DOES YOUR BUSINESS MAKE MONEY?......Page 41 TO MAKE MONEY, YOUR BUSINESS MUST:......Page 42 TRIPLE OVERLAP—THE KEY TO A MONEYMAKING BUSINESS......Page 43 WATCH OUT FOR THE DANGER ZONES......Page 44 CHAPTER 3: MAKING MONEY: NET PROFIT......Page 45 WHAT IS NET PROFIT?......Page 46 CONTROLLING THE PROCESS OF NET PROFIT......Page 50 CHAPTER 4: MAKING MONEY: RETURN ON INVESTMENT......Page 57 BREAKING IT DOWN......Page 58 BACK TO SCHOOL......Page 59 THE BUSINESS DEATH SPIRAL......Page 61 THE DEATH SPIRAL IN ACTION......Page 63 DEFEATING THE DEATH SPIRAL......Page 66 WHAT IS CASH FLOW?......Page 75 WHAT CASH FLOW IS NOT......Page 76 YOUR GROWTH LIMITER......Page 77 CHAPTER 6: IS YOUR BUSINESS MAKING YOU MONEY?......Page 85 WHERE ARE YOU NOW?......Page 86 IS YOUR BUSINESS MAKING MONEY?......Page 87 CHAPTER 7: WHICH PRODUCTS MAKE YOU MONEY? (And Which Ones Don't?)......Page 91 GROSS MARGIN—IT’S CRITICAL!......Page 92 A SURPRISE FOR ME......Page 93 THE UGLY DUCKLING OF A SUCCESSFUL BUSINESS......Page 95 GROSS MARGIN—WHAT IS IT?......Page 97 GROSS MARGIN VERSUS GROSS PROFIT......Page 98 GROSS MARGIN ANALYSIS......Page 99 PUTTING THE TRIPLE OVERLAP TOGETHER......Page 109 CALCULATING GROSS MARGIN......Page 111 MONEYMAKING CUSTOMERS......Page 115 CUSTOMER GROSS PROFIT......Page 117 CUSTOMER ROI......Page 118 CUSTOMER CASH FLOW......Page 120 CCM’S COOL, BUT CAN IT MAKE YOU MONEY?......Page 122 CHAPTER 10: YOU CUSTOMER PROFITABILITY MAP......Page 125 YOUR VERY OWN DRAWBRIDGE......Page 126 YOUR CUSTOMER PROFITABILITY MAP......Page 127 RESONANCE SCORE......Page 129 BACK TO THE CUSTOMER PROFITABILITY PLOT......Page 130 GUARD YOUR DRAWBRIDGE......Page 133 CUSTOMER PROFITABILITY MAP TACTICS AND ACTIONS......Page 134 CREATING YOUR OWN CUSTOMER PROFITABILITY MAP......Page 139 ANALYZING YOUR CUSTOMER PROFITABILITY MAP......Page 141 ROLL UP YOUR SLEEVES......Page 152 CHAPTER 11: FOUND MONEY MATH (It's Fun — Really)......Page 155 RUSSIAN ROULETTE FOR YOUR BUSINESS......Page 156 THE GROSS PROFIT FORMULA, REVISITED......Page 161 THE WIZARD OF (PROFIT) OZ......Page 162 IT’S ALL ABOUT LEVERAGE......Page 171 COST/VOLUME/PROFIT ANALYSIS......Page 177 CVPA AS YOUR BUSINESS ROADMAP......Page 179 GETTING THERE FROM HERE......Page 182 CHAPTER 12: YOUR PRICING BOOTCAMP......Page 185 SOME THOUGHT-PROVOKING QUESTIONS......Page 188 YOUR FOUND MONEY REPLACEMENT FACTOR......Page 190 STEP TOWARD YOUR FEAR OF PRICING......Page 192 YOUR FOUND MONEY PRICE CUT FACTOR......Page 196 PRICE DOESN’T REALLY MATTER AT ALL!......Page 199 YOUR PRICE STRATEGY......Page 205 CHAPTER 13: THE END OF THE LINE ... AND JUST THE BEGINNING......Page 211 ABOUT THE AUTHOR......Page 213 INDEX......Page 215

A fresh perspective on what it takes to run a moneymaking small business

If you're a small business owner, you probably started out with a great idea, an entrepreneurial dream, and the willingness to work as hard as you have to. You're up-and-running, your products and services are selling, and you are working as hard as you can. But where do you go from here? How do you get there? And how can you be sure your business will make you money now and for the long term?

Found Money presents a new and powerful approach to small-business success. It helps you figure out, instantly, whether your business is on-track or flying off the rails (and how to correct it if it is flying off the rails). Not only does it help you understand how your business makes you money, but how to control that process as well. It offers accessible, easy-to-use tools and tactics to help you understand the links between what happens in your small business and the financial results you achieve so you can proactively create the financial results you want.

• Helps you maximize the money your small business makes by showing you where additional profit and cash flow is hiding right now in your business
• Steve Wilkinghoff is an accountant and consultant who helps businesses reach their full, money-making potential
• Foreword by Michael Gerber, preeminent small business guru

If you own your own small business but don't know how to take control of the financial results it gives you, Found Money hands you the strategies, tactics and tools you need to take control, and direct and maximize the money-making process.

An accountant and consultant shows how to keep your small business on track for the long term—and maximize your moneymaking. If you’re a small business owner, you probably started out with a great idea, an entrepreneurial dream, and the willingness to work as hard as you have to. You’re up and running, your products and services are selling—but where do you go from here? How do you get there? And how can you be sure your business will make you money not just now but for the long term? Found Money presents a powerful new approach to small-business success. It helps you figure out, instantly, whether your business is on track or flying off the rails (and how to correct it if it is flying off the rails). Not only does it help you understand how your business makes you money, but how to control that process. It offers accessible, easy-to-use tools and tactics to help you understand the links between what happens in your small business and the financial results you achieve—so you can proactively create the financial results you want. By learning which customers to focus on; how to price your goods and services; how to test new ideas without excessive risk; and more, you can discover where additional profit and cash flow is hiding right now in your business. Includes a foreword by Michael Gerber, national bestselling author of The E-Myth Revisited What's the purpose of your business? When does your business make money? Making money-net profit Making money-return on investment Making money-positive cash flow Is your business making you money? Which products make you money? (and which ones don't?) Gross margin math Which customers make you money? (and which ones don't?) Your customer profitability map Found money math (it's fun-really) Your pricing bootcamp The end of the line-and just the beginning.