Metrique - Model New Income Streams to Increase Revenue in Your Business
Metrique is designed to do more than just manage your revenue—it's built to help you increase your profits. Acting as an interactive financial assistant, Metrique gives you a comprehensive snapshot of your business's financial health. For business owners and their bookkeepers, this means having a clear, real-time view of income, expenses, and overall financial performance.
By offering detailed insights and analysis, Metrique empowers you to make informed decisions that enhance profitability, ensuring that every project contributes to your bottom line and business goals.
As the CEO and founder of Metrique Solutions, I started this journey from my experience as a business advisor to entrepreneurs who often had complex relationships with money. I realized there needed to be a simpler, more visually appealing way to analyze and truly understand your financial data, especially for small business owners. Metrique began as multiple spreadsheets that I created for my private coaching clients, which proved incredibly helpful in increasing their profits, not just their revenue. But I wanted to develop a solution that was even easier to use, prettier to look at, and easier to understand. Those individual spreadsheets were condensed into one large spreadsheet, but there were still limitations. Today, Metrique has evolved into a full-fledged software platform that any small business owner can use to grow, scale, and create a legacy business.
This financial software provides interactive visuals of your business's performance, making it easier than ever to know whether your business is on track to meet its goals. These visuals enable you to speak confidently about your progress with business partners, shareholders, and employees. You can strengthen your credibility and trustworthiness in the eyes of all stakeholders.
Let’s dive in!
With Metrique's financial modeling, you can take your business beyond budgeting, opening up a world of potential for growth and expansion.
Budgeting is just the beginning. Metrique's advanced financial modeling capabilities allow you to explore new income streams and opportunities for growth. Whether you're considering adding a new service, launching a product line, or expanding your market, Metrique helps you project and analyze the financial impact of these initiatives.
You can see outcomes and make strategic decisions by running different scenarios and adjusting your numbers. Metrique makes creating a budget so much easier. You can create line item budgets or anchor point budgets depending on the level of detail you wish to use for comparison.
The platform also offers tools to help you create a logical, realistic budget, which can then be uploaded to your Metrique dashboard. This ensures that your budgeting process is both efficient and effective.
Modeling New Income Streams
Now, let's model a new income stream. We will use a product that will cost us $5,000 as a quick example.
Metrique software allows you to estimate the gross income of the product and adjust markups. In Metrique's cost calculator, you instantly see the financial picture of any new income stream or product you want to project and add, as well as adjust the numbers to fit your business goals.
The financial goals tab will provide you with more information.
This allows you to go deeper and play with numbers to help you not only reach your goal but make sure that it is financially sustainable and profitable. You are able to include cost of goods (COGS), the expenses associated with the new income stream, markups, and see your net income. You can strategize with the numbers to see if the new income stream or product will actually benefit your company in the long run.
For instance, if your product costs $15, and your goal for total income is $75,000, Metrique takes the guessing game out and gives you a roadmap to get to the goal number. Include your work weeks, payroll, COGS, and see the amount of products you need to sell to achieve your income goal.
By accurately predicting and analyzing potential income streams, you can ensure that every new venture is both viable and profitable, helping you to scale your business with confidence. Metrique helps you model your future.
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📖 Want to gain a better understanding of terms like gross profit, COGS,
and net income so you can manage your business finances with confidence?