Anyone can be a contributor to growth. Finance expert Jane Barratt shares strategies for how to spot opportunities for increased revenue, and make them happen.
- [Instructor] You may think that profit is the end all…and be all of a company, but, in fact,…the success or failure of every business…almost always centers around growth.…It's that promise of growth that investors seek out,…owners strive for, managers are rewarded for…and employees are often incentivized for.…So why is growth so important?…Essentially, the people who put their money…into the company, the owners and shareholders,…love it when they can get more and more money out…for every dollar they invest.…
As a result, businesses often gear themselves…towards growth as their primary goal.…Just look to a company like Amazon for proof of this.…For decades, they barely made a penny in profit,…but investors loved them because they grew and grew quickly.…Their stock price soared because of it,…making their shareholders rich.…You need to understand this as an employee…because at least part of your focus needs to be…on generating growth for your company.…You should always have an eye on spotting opportunities…to grow revenue.…
- 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.