Are You Ready to Increase Your Bottom Line?
by Darrel Hawes
After you review your situation and determine whether you are getting close
enough to your goals and quickly enough, you may decide that you need
to increase your income. In his book, Getting Everything You Can Out of All You've Got, business
guru Jay Abraham makes the point that there are only three ways to
increase your business: increase your number of active customers
increase the average transaction value
increase the frequency of purchase
(Don't let the simplicity of these three brief statements rob you of
their power.)Make sure you can get this information out of your accounting and/or
customer information system. That way, you can measure how well you are
doing to increase your number of customers, average transaction value,
and frequency of purchase.
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Accounting Explained
