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1. The Pareto Principle _ Using spreadsheet tracking, you can easily apply the Pareto principle in deciding which of your income sources and expense channels(i.e. products and services sales) to focus on in order to maximize profits. Considering that you are most likely to use the same marketing/sales resources to serve your customers, it only follows that if you focus on your biggest margin selling products/services, you will get increased profits at more or less the same cost.

It's not enough to have a professional with the technical skills to solve your problem. s/he also needs to have the right attitude and background/experience _ else the relationship will not work. This is where an Excel VB resource is more likely to add value to you. Most Excel VB Developers have backgrounds in management, accounting, engineering and other fields, which further equips them to be useful to you in "thinking up" better ways to apply your spreadsheet automation to get the most value for your business. You therefore need to choose the right developer, with the appropriate background to match your needs.

The intelligent use of spreadsheets, combined with the application of the 80ᚼ rule will help to achieve the foregoing and more. One does not need any expert to start doing these things today. Just take the decision to start keeping daily, accurate records and commit to analysing them. You'll be surprised to find that you will soon become much more aware of how you're doing and what aspects of your business you should focus on more to get better returns for your efforts _ and you will be able to confidently supply verifiable/authentic financial data to back up any claims you make about your business performance to bankers or prospective investors.

The visiting head of the technical function only needed to look at the most recently plotted point on the chart (relative to preceding ones) for a Key Performance Indicator like. Cost per Hectolitres brewed(One Hectolitre = 100 Litres), to know if the brewery had stayed within the approved upper limit of spend(plotted as a straight line target across the same period) or not. Discussions would then take place based on identified "Exceptions"(which could be "good" e.g. savings made or "bad" e.g. monetary loss due to materials over_used), and "Actions To Be Taken" to correct or maintain observed performances agreed upon.

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