Browsing articles tagged with " success"

4 Steps to Attract and Track Revenue

Mar 1, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

To receive the first 2 steps to attracting and tracking revenue you first need to read Business Accounting to understand the profit & wealth strategy.

There should be a new kind of tenacity about measuring revenue that results from marketing, and viewing all marketing, operation, accounting and sales activity as equal parts of a greater revenue cycle. This is a new way of thinking that will transform your company in an incredible way.

3. Form a revenue team. A “revenue cycle” means more than just tacking marketing onto the front of an existing sales process with a few new metrics and calling it a day. Rather, it requires sales, operations, accounting and marketing to work together and collaborate around important activities from one point to the next.

For example, start by establishing common definitions for critical terminology, terms that marketing and sales might be using completely differently to the detriment of their own revenue performance. Even terms like “lead,” “suspect,” and “sales-ready” can mean one thing for a high-energy marketer and another for a stressed-out sales rep just trying to reach quota.

Reporting together is equally as important. Work with your sales peers and accounting to decide on dashboards and metrics that will matter most when you’re in front of your Financial Report Card. While “feel-good” metrics like number of leads collected at trade shows, Twitter followers, or webinar attendees are important for marketers to track, they lack impact at the executive level. You should be thinking “opportunities” rather than “leads” and “investment and return” instead of “cost and spend.” Above all, you should frame all activity, even from marketing, in terms of revenue, cash, profit, and growth. Deciding together on performance terms and metrics that clearly show each team’s impact on the top-line numbers is a huge step forward.

Finally, have at least a monthly check in with accounting to review the finanical reports card and weekly check-in with your sales process to see how your own demand generation efforts are going. Are leads being passed to sales actually ready for outreach, or is sales frustrated and instead spending time searching out names to add to their databases? Is there any feedback from prospective buyers? Viewing these “little things” as important as the big agenda items will go a long way in creating mutual respect, collaboration, and a sense that everyone is part of “The Revenue Team” in your business.

4. Streamline your revenue toolbelt. With so many activity demands for marketing, the number of tools competing for use has exploded. From multi-client social media platforms to Google Analytics, email-marketing systems, targeted direct mailing, search-engine marketing (SEM/SEO) and more, the solutions available for marketers are as fragmented in nature as the audience types themselves. But for marketers today, getting a clean read on how much demand is being generated at a high level, knowing which leads are most ready to purchase, and associating this data with actual sales that have closed are the big-picture metrics that matter most.

And thankfully, a new set of broader solutions that help support better revenue performance management are becoming available, in addition to innovative developments from Accounting leaders on the best way to measure the success of your revenue cylce.

While it’s not quite completely “set it and forget it,” these systems enable companies to communicate with their accounting team and answer those key revenue-impact questions.

We know this stuff works because we’ve seen it in our own networks. In fact, we’ve seen companies grow by more than 400% in the last three years buy aligning sales and marketing, and measuring the revenue impact to make changes that helped growth.

Intelligent and revenue-minded systems is more important than ever for any company looking to grow in 2012. Our research and experience show 80% of your business should be touched by marketing in some way (that’s compared to a norm of 20%) and that half of closed booked business is from so-called “slow leads,” the kind that take time and nourishment, which supports the new type of buyer laid out above.

Now more then ever presents a massive opportunity for companies to reinvent themselves as a core part of a revenue cycle machine. It’s time for owners to step up to the plate and make their organizations key contributors (Accounting, Marketing, Operations, and Sales) to your growth.

We know we can be a part of your companies Revenue cycle to generate the return on investment you need.

Contact us no for a free wealth strategy session customized to your business.

Discover How Hiring Your Child Pays For College and Saves You Taxes….

Feb 23, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

A parent who owns a family business can hire his or her child to work for the business and shift income from the parent over to the child at a lower tax rate.  If the child makes deductible IRA contributions with wages earned, the parent and child can convert contributions to a college savings plan into a current tax deduction.  Future withdrawals from the IRA used for college avoid the 10% early withdrawal penalty and are generally subject to the child’s lower tax rate. Tax on the IRA withdrawals may also be offset by an education tax credit or deduction. 

Example #1:  John owns a lawn care service and employs his 16 year old daughter Mary to help.  She operates lawn mowing equipment and other legitimate services as an employee.  During her summer vacation in 2011, she earned $10,800 helping her dad in his business. Assume John is in a combined 30% federal and state income tax bracket.  The $10,800 in wages reduces his income tax liability by $3,240 and his self employment tax by $1,327, for a tax savings of $4,567.  Mary’s wages are not subject  to FICA of FUTA.  If Mary contributes $5,000 to an IRA, she pays zero income tax. 

      Mary’s wages………………………………………….……..$  10,800

      IRA contribution……………………………………………..$ ( 5,000)

      Standard deduction………………………………………….$ (5,800)

      Taxable income………………………………………………$       0 

Do you see the beauty of it,.  John saves $4,567 in taxes and  Mary already has a savings of $5,000 to pay for college education.

3 Simple Answers to go from Good to Great

Feb 14, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

I will keep this post short and sweet because these 3 simple business questions speak for themselves.

 

1. What are you the best at? (It should almost feel like you were born to do it)

2. What drives your economic engine, your profit, your cash flow? (“WOW, I get paid to do this?)

3. What are you passionate about? (You must love doing it)

 

Each of these are in it’s own circle and intertwine with each other.

You can not have 1 out of 3 or even 2 out of 3 and expect to be great.

Post your answer’s in our comment section, I would love to hear your point of view…

If you need help defining these then you need to take action right away and join us
in our master mind workshops —> http://entrepreneurmastermind.eventbrite.com

Aim for a 1% Improvement Every Single Day

Jan 6, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

I read this post about improving yourself a couple times in 2011

Funny part is I wrote it down because it connected with me since it reminds me of
something I always tell our clients, “Baby steps count too.”

The first day of the 2012 year I found it while I was organizing my files and thought it would be
the perfect post to start off the year right!

“Well, the power of this is that if you do this every single day,
then you will completely transform yourself and your
life in less than 1 year.

In fact, you will be 3,700 times better by the end
of this year.  This is also why Einstein used to say
that “the power of compounding is one of the most powerful
forces in the world.”

If I could do that, perhaps I could fly.  🙂  The key idea that
I am trying to communicate is this:

Aim to be better today than you were yesterday!”

If that doesn’t get you going, you might have to check your pulse.

Share this if your inspired…

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