Sangeetha explains profit maximisation for entrepreneurs using five simple steps. Revenue generation, Cost reduction, Financial discipline, Adherence to compliances and best practices in industry. Apparently profit maximisation for entrepreneurs is a core objective. Besides it is the toughest goal a founder had to do achieve prove the company’s mettle.
How do you devise methods for revenue generation? Is good research in practice to reduce and control costs? What are the best industrial practices in this field? Are necessary and luxury costs clearly identified and defined? What internal controls are in practice to assure compliances? Is budget prepared and reviewed during periodic intervals? Are expert financial analysts available to measure actual performance? A founder has to act upon the above questions and make sure no stone is unturned in pursuit of profit maximisation.
In this videos Sangeeta makes it very simple with an acronym for entrepreneurs. Part of the wealth series you can watch more about compliance and how entrepreneurs can keep track of their finances.
Sangeeta Sumesh is primarily a Chartered Accountant and Management Accountant. Currently she is ED & CFO of Dun & Bradsheet Technologies. Apart from that she is also a high performance coach, an author, Start-up advisor and professional speaker. She authored finance books ‘What the Finance’ and ‘A Glance at the Unknown’. She is rightly awarded the title of ‘India’s most influential women in finance’. Also Sangeeta encourages entrepreneurs by conducting workshops and coaching sessions.