Achieving Sustained Profits...

by Recording Your Financial Goals

By Eugene Peterson

Some pretty solid research suggests that when financial goals are written, they have a much better probability of happening. The percentage is in the 80 percent range that you’ll accomplish them. You don't have to be a genius to see that the odds are in your favor if you write down your financial goals.  If you don’t have financial goals, please be my guest and use ones that I have written, at least until you can craft your own. Here are the ones you may use or borrow:  Financial Goals: Financially stable with a positive cash flow.  This will be accomplished by job cost accounting, collecting advance deposits, and generating a net profit of eight to 12 percent. Profit is the reason we’re in business. One of our key indicators will be a measurement of gross profit per field employee. We’ll control profit by increasing pricing, reducing overhead, improving productivity, purchasing materials for the best price and by increasing volume. We’ll charge enough for what we do to be able to afford the best employees, materials, sub-contractors and give our customers the best value for their dollar. We’ll improve financial stability by completing jobs on time, wider budget and with quality better than industry standards.  Once written, the next step is to get the document into the hands of all members of your company who can help make it happen.  Your financial goals when written and disseminated become guides to the achievement of greater sustained profitability.