jochen2000

Member
Joined
Feb 14, 2021
Messages
4
When doing a profit analysis of your business and doing further financial planning, are you comparing your margin numbers to averages of your industry? At least you get ideas where you could improve and set financial targets. Or how else you approach this?
 

Severalun

Member
Joined
Jun 1, 2021
Messages
1
In this world, everything is learned by comparison, so I always compare the results of my company with what the average arc of companies gets. It helps me to cope with some problems that are related to financial issues. I'm sure you'll be interested in the solution I took a few months ago when the pandemic started affecting my company's business. That rescue turned out to be help from financial adviser who really set up and improved a lot of things that I could not do on my own
 
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PatrickM

Member
Joined
Feb 24, 2019
Messages
31
I have often found that these average numbers are difficult to find and also are so "averaged" (size of business, age of business, etc) that they are not very useful.
In looking at profit analysis it is useful to use a zero-based approach and then critically apply your mind to the results. Then use these results to set targets and action plans.
 
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