🔍Data Strategist | I help businesses turn raw data into revenue growth and customer retention

  More sales do not always mean a healthier business Introduction:  Imagine running a retail business that recorded ₦5 million in monthly sales last quarter. This quarter, sales increased to ₦6 million. On the surface, that looks like progress. But at the end of the month, your bank balance tells a different story. Suppliers need payment, advertising costs have increased, and the money left over is smaller than expected. What happened? The problem may not be a lack of sales. It may be that the business is generating revenue without understanding the costs and margins behind it. Revenue tells you how much you sold. Profit analysis helps you understand how much you kept. For business owners, the difference is critical. Without examining the right metrics, increasing sales can sometimes mean increasing costs faster than revenue. 1. Start by separating revenue from profit Revenue is the income generated from selling products or services before expenses are deducted. Profit is what...

  How to Track Sales in a Small Business Using Excel Imagine running a food business where customers come in every day, orders keep coming, and money enters your account regularly. From the outside, business looks good. But at the end of the month, you ask yourself a simple question: “If I have been selling this much, why don't I have enough money left?” If you have ever asked yourself this question, you are not alone. Many small business owners record sales in notebooks, WhatsApp messages, POS receipts or their bank transaction history. Some only check how much money is in their account at the end of the day. The problem is that money received is not the same as profit. Without proper sales records, it becomes difficult to know which products sell the most, which days bring more customers, how much you spend to run the business and where your money goes. The good news? You do not need expensive software to get started. You can begin with Microsoft Excel or Google Sheets. In this g...