An idea for business is not everything – we need specific incomes, to maintain. That kind of observation is easy to conclude, but what do we have to do, to develop our business in the proper way? A good idea is only the begging of our battle on the market area. Even if the product or service is brilliant, it isn’t always profitable.
To check it out, you have to define the profitability range, because the project only gives advances when it will overboard it. The method to count it down is to calculate the costs of a project (including stable costs – for example – renting an office) and the price of your final product or service.
The profitability is combined with several factors, over which the business owners have to have stable control. Using many separate apps to monitor your company development is not a good idea. I assure you, that in a short matter of time you can easily get lost between the monitoring and invoicing software. If you still have doubts, if my words are true – ask yourself: how many time did you lost a post it note? The best solution is finding a tool, which in one place will gather all the information’s which measure our business. So an monitor profitability tool is absolutely necessary.
If you still are not sure, I will show you how powerful a proper profitability tool can be. Let’s take a closer look, what such software should contain?
- issue invoice app (with the invoice personalisation tool [you can check out the earlier post about invoicing app]),
- visualize tasks (the board should be clear, to not to loose control over it),
- register work time,
- the app should work in real time and it should be based on the SaaS formula (it eliminates the need to install and run the software on a computer. The only necessary thing is to have an internet access),
- generate and visualize the statistics not only in a number form, but also in a graphic one (it will help monitor the effectiveness and profitability),
- managing human resources (to get the ability to assign employees to proper tasks),
- creating offers (a group option is also helpful, because often to one project is responsible multiple employees).
Mentioned above features are very helpful in everyday work. They somehow manage to rise the profitability of the acts – not only our, but also our employees. When everything will be organized, we will gain control over every aspect of our business for sure.