Understanding Your Profit Drivers Is Critical To Business Success – One of the toughest challenges small business owners face is learning how to manage financial performance. Business owners often think that great financial results just “happen,” but that is seldom the case. Some do get lucky sometimes, but success usually comes to those who are willing to roll up their sleeves and do the hard yards.
Successful businesses achieve consistent profitability because they know the critical factors that drive their profitability and work relentlessly on those areas of the business.
For most businesses, there are three major profit drivers:
2) variable costs (i.e. those costs that vary in direct proportion to revenue) and
3) fixed costs (or overhead).
Which leads to an interesting question: do all of these drivers have the same impact on profit?
Andrea was born in Buenos Aires, Argentina in 1967 and migrated to Australia with her family in the early eighties. She now lives in Melbourne with her husband and two sons.
After graduating from Monash University with a Bachelor of Business she went on to become a qualified Certified Practicing Accountant (CPA). Andrea is also a qualified business trainer, coach and mentor Australia wide.
She commenced her career as an Auditor for the Australian Government followed by various management roles in the hospitality, beauty and fitness industries. In 1995 she went on to become a successful business owner in the automotive parts sector. Her role as financial controller contributed to the growth and sustainability of the business which was on sold to a major automotive company in 2013.
After spending the last few years managing a team of 54 people across 3 states, Andrea decided to go out on her own so she could focus on her passion for teaching. Through her business coaching and training seminars, Andrea has been able to apply her extensive business knowledge to assist business owners get unstuck. She is passionate about helping businesses succeed and she is all about actionable initiatives and sustainable results.
In her spare time, Andrea loves to read books, go for long walks and cycle with her husband.
To learn more about Andrea and her business, go to www.andreamoody.com.au or follow Andrea on Facebook @ Andrea Moody Pathways to Success.