ASK LEO : is Turnover one of the yardstick for business growth ?

source Hello friends 👋 hope we are all having a wonderful day today I will be sharing with you how important turnover is in business, Importance of Turnover in business growth. For any business to survive, thrive and grow, there is need for knowledge on technical know-how on the business. Business is not all about making profit alone, there are some other things that aid the growth of business. One of them is Turnover.
Turnover is the total sales made within a period of time . If there is a lot of sales within a short time, the profit realized can be turned over quickly to enlarge the business. The more turnover made, the higher the profit and working capital. When a business working capital grows, the business also grows but what can make a stable and growing working capital is the rate of Turnover done within a short period.
It's a pity that most business owners don't know know about this or they ignore probably because of greed or the flare to make huge profits at once. When your products are too expensive because you desire huge profits at once, people won't patronize you enough and thereby affects the turnover but if the products are relatively cheap with little profit added, there will be more sales and hence more turnover Which expands the business.

Thanks for stopping by 😘

@tobywalter cares do have a blessed day

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