It’s easy to become disconnected to how money flows through your organization. See why it is your job to determine how your company can make more money, regardless of the job you have today. Determine if you are overhead, breakeven, or a contributor to growth—and who really pays your salary.
- Money is the lifeblood of every company.…It pays your salary, keeps the lights on,…and funds your company's growth.…If the money dries up, your company will probably fail.…This is why it's hugely important…for you to understand where the money comes from,…where it goes and especially what's your role…in that system.…Are you a revenue generator,…are you revenue neutral,…or are you a cost center?…Let's first look at revenue generators.…These are the people who bring the money in the door,…people who work in sales, market development…or customer acquisition.…
Their jobs depend entirely on bringing in more revenue.…The better they do their job,…the more money comes through the door.…Their success or failure is very visible.…It's measurable and it can often…determine their compensation.…The company's very dependent on their success.…Then there's revenue neutral people.…Consider customer support and marketing…as revenue neutral roles.…People in these roles don't directly bring in sales…but they help support sales and keep customers happy.…
- Explain how understanding your company’s finances will help you as an employee.
- Identify how you can help drive revenue if you do not work in sales.
- List the key things to look for when setting terms with suppliers.
- State why it is important to understand key accounting concepts and success measures.
- Explain what an income statement can tell you.