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The savings _ from using your "in house" expertise _ in terms of money and man_hours alone, will quickly justify the investment you make in "developing the needed skills" _ especially, when you compare what you spend with the cost of purchasing a commercial software application _ or even engaging the services of an Excel VB developer.

For instance if a company had five drink brands in the market but notices that Brand A, which has a profit margin of at least twice the others is in greatest demand, they could (a) focus production efforts on that brand, so that more bottles go out to trade (b) Apply Best Practice/Continuous Improvement initiatives that would result in lower costs of producing each bottle of Brand A so that even though the market price remains fixed, the company is able to earn increasing profit margins per bottle.

Automating Your Spreadsheet Document : What is Excel VB? Microsoft Excel is a powerful tool for recording, organising/re_organising, analysing and presenting information. By Excel VB, I refer to Excel VBA _ where VBA means Visual Basic for Applications(VBA). VBA refers to the highly extensive and flexible macro programming language developed by Microsoft for use in their MS office applications _ Word, Power Point, etc.

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.

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