Small Business - A Thing Worth Doing Is Worth Doing Badly

A thing worth doing is worth doing badly. Yes I know that it should be 'well'. My grandma drummed into me that whatever I did I should do it as well as I possibly could.

But grandma said that there was another side to it. If it were worth doing, even doing it badly was better than not doing it at all.

"Never be put off from doing something that ought to be done because others can do it better", said Grandma, "The others may not do it and then it never gets done".

So it's hard for you to estimate sales ? take a stab at it anyway!

I wish I had a dollar for every small business operator who told me that it was impossible to prepare a projection of cash-flow requirements because their sales were so sporadic and uneven.

It's strange in a way that although it is true that each business is unique, it is also true that all small businesses are the same.

Most small retail firms average about 30% as a gross profit. That gives them an average mark-up on purchases of about 42%. It doesn't matter what sort of shop, you can use that as an average.

Similarly, all other expenses average out at about 20% which gives a net return on sales of 10%. Aren't there firms that do better than this? Too right there are?but some do much worse.

So a projection based on averages for your industry will probably be badly out-of-whack. You might think the result is a bad job but it will be one hundred times better than none at all.

The owner will know quite a number of concrete figures without having to guessitimate.

She will know many of her outgoings:

  • Rent
  • Average wages (these will fluctuate a little)
  • Loan repayments
  • Plant lease payments
  • Her private spending requirements
  • Accounting and bookkeeping fees (she should have been told on engagement)
  • Insurance premiums
  • Registration fees
  • Subscriptions
And with all this information her advisor can estimate the amount of profit which will be required to keep cash-flow positive. From the required profit it is a simple task to calculate the sales that are needed to produce the required profit.

"Hey! I hope to have higher sales than that".

But now we've made a start, we can build in some of your expectations, and now we have a projection that we thought couldn't be done.

"But will it be right"!

No it will never be right on the money, but it doesn't have to be. Each week/month we will compare what actually happened with what we had hoped to happen and work out our strategies accordingly.

If sales fall short by 10% in the first month we have a far greater chance of recovery over the 11 months than if we had no plan at all (even if we thought it was a bad one).

And for those proprietors who do a plan and do not compare it to actual until the end of the year any shortfall will be lost forever.

A thing worth doing is worth doing badly.

It applies to all aspects of business ? and life.

I often hear owners say, "I can not up-sell. I'm no good at it".

Maybe, but it is necessary. Who is going to do it if you don't? Get a little training and start doing it badly. You'll be surprised at how good you get.

A thing worth doing is worth doing badly.

The Author

Kelvyn Peters is one of Australia's longest serving Tax Agents. He was registered in 1962 and became a CPA in 1964.

He's served on many charitable boards including St Aubyns Hospital, Alzheimer's Association and Older Peoples Advocacy Service.

As a young man he won the Outstanding Jaycee Award three times. Kelvyn is a compassionate, generous man who loves people. That's why he is so skilled at helping people in trouble.

Kelvyn Peters was Mayor of Kingaroy Shire Council from 1982 to 1987 and campaigned as the 'Young Man of Action"

Over 20 years later he still calls himself a 'Young Man of Action'.

He is a director of Restaurant Catering Qld Inc the peak employer representative in Queensland, and has advised the hospitality industry for many years.

His specialty is moving in to rescue a sick business.

Kelvyn has spent over 20 years experimenting and researching methods to help small business in ways that are affordable.

He has perfected it with local clients now he is going global and he is only an email away.

http://www.profitstrategies4business.com

tidy up service Glenview ..
In The News:

New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.
FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.
New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.
OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.
Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.
New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.
DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.
Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.
Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.
Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.
A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.
South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.
Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Fake AI apps disguised as "ChatGPT" and "DALLĀ·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.
Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.
Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.
NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.
Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.
Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.
Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.
Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.
Fake airline texts claiming flight cancellations are targeting travelers with convincing scams. Learn how cybercriminals steal personal data and credit card info.
Discover how iOS 26's new Adaptive Power feature automatically extends iPhone battery life by learning your usage patterns and adjusting performance intelligently.
New TikTok malware campaign tricks users into running PowerShell commands that download Aura Stealer, which steals credentials and authentication tokens.

Should I Franchise or Not?

A reader of one of my online sessions asked should... Read More

The Workers? Compensation Situation in this Country is Nuts, Arnold in CA Takes Action

The Workers' Compensation situation in this country is unbelievable. Why,... Read More

Five Simple Software Tips for Small Business Owners

The start of a new year is a time for... Read More

Personal Success - Take a Break from Business

Have Some Time to Yourself One of the most important... Read More

7 Tips to Improving Your Cash Flow

Cash is King... That is what everyone tells us and... Read More

Success & The Nature of Things

The story is told of a tiger chasing some goats... Read More

Uncover Free Veins Of Gold By Prospecting Online Guru Newsletters (Part 1 of 2)

Incredible as it sounds, you have a goldmine of free... Read More

FFP vs. CPFF Contracts

SBIR Corner: FFP vs. CPFF contracts:In the SBIR/STTR world, the... Read More

Effectively Completing the Operations Plan Section of Your Business Plan

The Operations Plan is a critical component of any business... Read More

Mobile Car Wash and Cleaning Post Office Jeeps

If you own a mobile truck washing, pressure washing or... Read More

S Corporation ? What Is It?

For many small businesses, the "S" corporation is the business... Read More

How to Promote Your Business by Entering Contests

You are probably hard at work promoting your business (and... Read More

Does Your Business Need a Toll-Free 800 Number?

Should your business have a toll free number for customers... Read More

Franchise Sales and Use of Online Franchise Directories

Franchising Directory Sites-Paid Advertising, Lead Generation for FranchisingFranchising Directory Sites... Read More

Window Cleaning Business Future Challenge With Self Cleaning Glass

Self-cleaning glass has been talked about a lot, with such... Read More

Essex Accountant: Accountancy Firm MVP for Your UK Business?

Most business owners know when they need an accountant, but... Read More

Small Business and Branding ? Why and How?

When we speak of branding most of the time people... Read More

Franchising and Royalty Payments

If you are thinking of turning your current into a... Read More

How to Give FREE Advice and Make Money

When is advice free and when should you charge for... Read More

Preparing to Launch Your Small Business

Small business owners often enter their field with great expectations.... Read More

Arent Small Businesses Lucky?

Why? Because they have access to world class public relations... Read More

Starting a Virtual Assistant Business

If you're organized, smart, capable and willing to work with... Read More

Three Small Business Secrets to Getting More Billable Time

As small business owners we're in business to make money... Read More

How to Remove Stress from Owning a Business... Forever!

I meet and talk to hundreds and hundreds of business... Read More

Perfecting Your Pitch

Why should you describe your business to others in 5... Read More

full-service cleaning Mundelein ..