By Garry Hojan Profit = Total Revenue—Total Expenses. The two items listed here are sales and costs. Those are the two levers that adjust the business’s profitability and cost reduction, which has a multiplier effect. The reason for the multiplier effect on profit is as follows: If I cut $100 of non-revenue generating expenses, it […]
Q: What is the best way to reduce costs to drive higher profits? Read More »
By Garry Hojan Why at the beginning, of course. I’m being a smarty pants, please forgive me. Most business school theories say to do a SWOT analysis first to have a strong picture of your business status and to make better decisions on launching to the next level. I agree with the value of SWOT
Q: I want to be more intentional about growing my company. Where do I start? Read More »
By Garry Hojan A: This is an awesome question, and certainly not industry-specific. It affects all of us to one degree or another, no matter what business we are in. Below in this response, I’ll include Google’s response to “causes of feeling overwhelmed in business” so you have some practical tips from the all-mighty ABC
By Garry Hojan Our Solution My first question back to you is: Why are you thinking of expanding into new related industries? The reason I’d ask is because there are many reasons not to expand, like the following: Before deciding to diversify into a new or related industry, thoroughly investigate whether it is truly the
By Garry Hojan Our Solution My expertise is in maximizing revenue and I am not a tax professional, nor do I give tax advice. I’d start by saying anything I include here is from my experience and for informational purposes only and should be checked with a tax professional before you choose to implement anything
Q. How can I minimize tax payments while maximizing revenue? Read More »
by Garry Hojan I’m by no means an expert on this subject, but I did have the opportunity to participate in the 90-minute Charles Schwab 2025 Outlook, where global financial experts discussed this topic in depth. I will share some of that information and my thoughts on how it applies to our businesses.. Potential tariff
JH Aero and Garry Hojan are featured in the December 2024/January 2025 issue of Northwest Aerospace News Magazine. The article, “Business Growth: Small Northwest Machine Shops, how do the big guys notice the small players, and how can machine shop start-ups set themselves up for success?” Read the article: https://joom.ag/4GSd/p8
We are featured in Northwest Aerospace News Read More »
By Garry Hojan Our Solution I really like questions like this. It shows that you’re thinking about something that many don’t think about or do. I like tackling revenue goal-setting through a relatively quick process. Start by looking at historical financial results. Things to look at gross sales, net sales, gross profit, gross profit margin,
Q. As I gear up for next year, what’s a good way to set revenue goals? Read More »
