Logo Black.png
RESOURCES
COACHING & TRAINING
Great Lakes Profiles Logo.jpg

GREAT LAKES PROFILES

ASSESSMENTS I COACHING I LEADERSHIP DEVELOPMENT l TEAM DEVELOPMENT l TRAINING PROGRAMS

Phone: 248.693.3328
Email: jim@greatlakesprofiles.com
Website: www.greatlakesprofiles.com

1621882884239.jpg

THE CARDELL GROUP

COACHING & LEADERSHIP

Phone: 301.965.0212
Email: pierre@pierrecquinn.com
Website: www.pierrecquinn.com

Met Plus Logo.jpg

MET PLUS

EMPLOYMENT TRAINING

* Contact available only by visiting the Met Plus website.

ATTORNEYS
aP4f5wygSfqCIfhh05uc_Logo_Full_Size.png

ARTFUL CONTRACTS

AMY NESHEIM, ATTORNEY FOR ENTREPRENEURS
 

Website: https://artfulcontracts.com
Affiliate Link: link.artfulcontracts.com/affiliate-signup

Clancy-Advisors-PLC.png

CLANCY ADVISORS PLC

ATTORNEY FOR LAW
 

FINANCE
1556071812_deseranno_com_edited.jpg

DeSERANNO WEALTH PLANNING

WEALTH PLANNING & MANAGEMENT

Phone: 313.885.0114
Email: info@deseranno.com
Website: www.deseranno.com

r2s92i7z1v9iexipsgts (1)_edited.jpg

7 FIGURES FUNDING

BUSINESS LINES OF CREDIT UP TO $250,000.00

Phone: 883.801.5653
Email: partners@7figures.com
Website: http://www.7figurescredit.com?a_aid=equinn

Sky Business Credit.png

SKY BUSINESS CREDIT

INVOICE FINANCING

Phone: 630.541.7161
Email: info@skybusinesscredit.com
Website: www.skybusinesscredit.com

bluevine-logo.jpg

BLUEVINE

Phone: 888.216.9619
Email: support@bluevine.com
Website: http://app.bluevine.com/signup2?pid_login=0001275

MINORITIES
image-1_edited.jpg

MICHIGAN MINORITY CONTRACTORS ASSOCIATION

MINORITY CONTRACTORS

Phone: 313.384.3337
Email: cole@michmca.org
Website: http://www.michmca.org

affde01d05d4767915c41280a750a93b.png

BLACK
WALL STREET

EMPOWERMENT OF BLACK COMMUNITIES

Email: blackwallst2@gmail.com
Website: http://www.blackwallst.net

img_logo.png

BLACK 
DIRECTORY

LARGEST BLACK BUSINESS DIRECTORY

REAL ESTATE AGENCIES
1547645759582.png

KELLER WILLIAMS HOME REALTY

Phone: 248.266.5628
Email: triciawinborn@kwrealty.com
Website: www.kwrealty.com

remax-nexus.png

REMAX NEXUS, BIRMINGHAM - LAWRENCE LEWIS

Phone: 248.541.4900
Website: http://www.nexushomesearch.com

BHGRE-662-x-418.png

BETTER HOMES AND GARDENS REAL ESTATE METRO ATLANTA -
KEITH HOLT

Phone: 404.843.2500
Hours: Monday - Friday, 9am-5:30pm 
Website: www.metrobrokers.com/locations/douglasville

BUSINESS MANAGEMENT
trion.jpg

TRION
SOLUTIONS

PAYROLL AND TAXES, BENEFITS ADMINISTRATION, WORKERS’ COMPENSATION, AND REGULATORY COMPLIANCE.

Phone: 800-681-9675
Email: danielrussellsr@gmail.com
Website: https://trionworks.com/

calendly-20a06ab6508275f696db2fdfe71a5750.png

CALENDLY

ONLINE SCHEDULING

Contact only through their website
https://help.calendly.com/hc/en-us

belay-2.jpg

BELAY
SOLUTIONS

VIRTUAL ASSISTANTS, VIRTUAL BOOKKEEPERS, WEB SPECIALISTS, SOCIAL MEDIA STRATEGISTS

Phone: 855-552-3529
Email: faxon@belaysolutions.com
Website: https://belaysolutions.com/

1556823398879_edited.jpg

VB
CONSULTING

MANAGEMENT CONSULTING
 

Phone: 404.969.6193
Email: val@vbconsultingservices.com
Website: www.vb-consultinginc.com

download (2).png

SANDLER TRAINING

SANDLER TRAINING BY EAM CONSULTING GROUP
 

Contact Person: Tim Bryson
Phone: 248.686.1371
Email: tim.bryson@sandler.com

Website: https://www.earn.sandler.com

MARKETING
Rescue Event Planning.png

RESCUE EVENT
PLANNING

E4 DIGITAL MARKETING, PHOTOGRAPHER, VIDEOS, TIME, ETC.

Phone: 202-412-5027
Email: e4digitalmarketing@gmail.com
Website:www.rescueeventplanning.com

Fulkrum Logo.png

FULKRUM

DESIGN, BRANDING
AND WEB CONTENT

Creatve I.png

CREATIVE INNOVATION
ASSOCIATES

DIGITAL MARKETING, WEB DESIGN, INTEGRATED MARKETING SOLUTIONS, BRAND DEVELOPMENT

Phone: 248-825-3178
Email: info@creativeiassociates.com
Website: www.creativeiassociates.com

CUSTOMER SERVICE
At Your Service.png

AT YOUR SERVICE
CONSULTING 

CUSTOMER SERVICE ASSESSMENT AND IMPROVEMENT TOOLS

TAX PREPARER AND EXPERT
Burch Tax.png

BURCH TAX SERVICES

ELECTRONICS
Seann Lewis.png

SEANN LEWIS

WEB DESIGN AND DEVELOPMENT, XR APPLICATIONS, VIDEOS, GRAPHIC DESIGN, MULTIMEDIA, SALES AND SUPPORT OF HARDWARE AND SOFTWARE
 

Phone: 843-564-8743
Email: sales@seannlewis.com; 
seann@seannlewis.com

Website: www.seannlewis.com

EST.png

ELECTRONIC
SERVICES TECH

THE PHYSICIANS - PRACTIIONERS OFFICE ASSISTANT 3 APPS IN 1 MEDICAL RECORDS - PRACTICE MANAGEMENT - INSURANCE BILLING ALSO A SOFTWARE DEVELOPER (CREATED 7+ SOFTWARE APPS
 

Email: 
jwilliams@electronicservicestech.com
Website: 
www.electronicservicestech.com

HEALTH CARE INSURANCE
patterson bryant.png

PATTERSON BRYANT

HEALTHCARE SOLUTIONS

Phone: 248.433.1902
Email: info@pattersonbryant.com
nz@pattersonbryant.com
Website: 
www.pattersonbryant.com

CONSTRUCTION
3LK Construction.png

3LK CONSTRUCTION LLC

A MULTI-DISCIPLINED GENERAL CONTRACTOR AND CONSTRUCTION MANAGER THAT PROVIDES UNIONIZED CARPENTRY, PAINTING AND GENERAL LABOUR SERVICES

Phone: (313) 962-8700
Email: info@3lkconstruction.com
Website: 
https://3lkconstruction.com/

BOOK SERVICES
48 Hr Books.png

48 HOUR BOOKS

SELF PUBLISHING, BOOK PRINTING, BINDING SERVICES

Phone: 800.231.0521
Email: info@48hrbooks.com
Website: 
https://www.48hrbooks.com/

MANUFACTURING - FOOD
Tata Group.png

TATA GROUP

Phone: (703) 243-9787
Email: northamerica@tata.com
Website: 
https://www.tata.com

EDUCATION AND ECONOMIC DEVELOPMENT
PTAC.png

TONY COOK PTAC OF MACOMB COUNTY COLLEGE

NON PROFIT ORGANIZATION FUNDED BY THE DLA AND MEDC TO ASSIST COMPANIES WITH UNDERSTANDING GOVERNMENT CONTRACTING

Phone: (586) 498-4134
Email: cooka65@macomb.edu
Website: 
www.ptacsofmiichigan.org

Hubspot Article Great Information

7 KEY METRICS EVERY BUSINESS SHOULD TRACK


1. Revenue Growth

Revenue is the amount of sales you generate by selling your product minus the cost of returned or undeliverable items. It’s the key metric every business uses to measure their financial performance. Obviously, earning the highest amount of revenue possible is ideal, but the metric that’s more indicative of your business’ financial performance is year-over-year revenue growth.

You must also remember that your business’ situation is completely different than your competitors’, even though you contend for the same customers. So it’s better to compete against yourself and compare your current revenue and revenue growth to your past financial performance than it is to compare it to your competitors’.

Otherwise, you could set a revenue or revenue growth goal that’s not attainable within your particular context, causing you to miss your goals, pressure your employees to cut corners in order to hit their numbers, and, ultimately, burn everyone out.


2. Average Fixed Costs

Fixed costs are your business’ costs that stay constant regardless if your business sells more or less of its product. For example, your rent on office space, website hosting costs, utility bills, manufacturing equipment, small business loans, property tax, and health insurance are all fixed costs because regardless of how much product you develop, ship out, and sell, these costs stay the same each month.

To determine how much your business will have to pay for each unit of your product before you account for the variable costs needed to actually produce them, you need to calculate your average fixed cost, which is your total fixed cost divided by your total number of units produced.

This will help gauge the level of impact your fixed costs have on your product’s potential for profit and how much you should spend on variable costs in order to turn a profit.
 

3. Average Variable Costs

Variable costs are the cost of all the labor and materials used to produce a unit of your product. Your variable costs directly depend on the amount of product you sell, so the more units you sell, the higher your variable costs, and the less units you sell, the lower your variable costs.

Some examples of variable costs are physical materials, production equipment, sales commissions, staff wages, credit card fees, online payment partners, and packaging and shipping costs.

To determine the amount of variable costs your business will have to pay to produce each unit of your product, you need to calculate your average variable cost. To do this, add each of your product’s unique total variable costs together and divide them by the total number of units of products made.
 

4. Contribution Margin Ratio

Contribution margin is calculated by subtracting the variable costs required to produce one unit of product from the revenue it generated. Since your variable costs are directly linked to producing your product and fixed costs are directly linked to keeping your business in operation and not producing your product, contribution margin helps you understand how profitable each of your products are.

But to truly understand how they individually impact your bottom line, it’s better to calculate each of your product’s contribution margin ratios. To do this, subtract each product’s total variable costs from their total sales revenue and divide that number by their total sales revenue. Your contribution margin ratio will be expressed in a percentage.

Once you know each of your product’s contribution margin ratios and, in turn, their profit potential, you’ll understand which products will generate more total profit if you produce more units of them, and which products will generate less total profit if you produce more units of them. These insights will help you develop a product mix capable of generating the highest level of profit for your business.
 

5. Break Even Point

Your business’ break even point is the quantity of product you must sell so that your total revenue equals your total costs. Knowing your break even point is crucial because it serves as the minimum goal your business should try to achieve in order to not lose money during a specific time period. Even better, if you surpass your break even point, your business will turn a profit during that time period.

To calculate your break even point, add up all your fixed costs and divide them by your contribution margin or the difference of your total sales revenue and total variable costs.

For example, if you sell baseball bats and your fixed costs are $500,000 and the contribution margin is $50 for the year, you’ll need to sell 10,000 baseball bats to break even. If you sell more, you’ll turn a profit.
 

6. Cost of Goods Sold

Your business’ cost of goods sold is the cost of acquiring or making the products you sold during a certain time period, like material, manufacturing, and labor costs. In other words, they’re your cost of sales or cost of doing business.

Tracking your cost of goods sold, or COGS, is important because they directly affect your business’ bottom line. For instance, when your COGS increase, your profit will decrease, and when your COGS decrease, your profit will increase.

To calculate your COGS, you first need to pick an accounting method. Most businesses usually decide between three: First In, First Out (FIFO), Last In, Last Out (LIFO), and the Average Cost Method.

If you use the FIFO method, you’ll sell the oldest products you purchased or manufactured first. Prices tend to rise over time, so the FIFO method will allow you to sell your cheapest inventory, which will decrease your COGS and increase your profit.

If you use the LIFO method, you’ll sell the newest products you purchased or manufactured first. Prices tend to rise over time, so the LIFO method will allow you to sell your most expensive inventory, which will increase your COGS and decrease your profit, but you’ll also pay less taxes, which could help you offset or even overcome that initial loss in profit.

If you use the Average Cost Method, you’ll calculate the mean cost of your inventory, completely disregarding their purchase or manufacture date. This prevents periods of high inflation from influencing the cost of your goods sold.
 

7. Gross Profit Margin

Your gross profit is calculated by subtracting your COGS from your total revenue and reveals your business’ production efficiency or ability to optimize your material, manufacturing, and labor costs. However, since gross profit is a pure dollar amount and not a percentage of your revenue, it can increase even when your financial performance declines.

So to truly understand your business’ financial performance, it’s better to measure gross profit margin, which is your gross profit as a percentage of your revenue, instead of measuring gross profit. If your gross profit margin continues to climb over time, it’s a good indication that your business’ financial health is in good shape.

STAY UP TO DATE


LET US HELP YOU GROW YOUR BUSINESS. STAY UP TO DATE WITH NEW DEVELOPMENTS, EVENTS, AND PROGRAMS OFFERED BY E.QUINN CONSULTING.