How to increase your profits by 20% or more with very little effort.
If the profit you’re making from your business has reached a plateau, chances are, it’s not because the business has stopped growing it’s the owner that has stopped growing. That comes a no surprise when you consider the huge amount of mental and physical resources required to run a business these days. Most owners are exhausted by the end of the day as a result of working in their businesses. To get a company, whether it sells a product or a service, to the next level of profitability requires a business owner to start spending more time working ON the business and just a little bit less working IN the business.
How to increase your profits by 20% – FAST!!!
The key to understanding business growth is to realise that what gets you from A to B won’t get you from B to C.
Business owners must evolve or very quickly that profit figure will start to plateau or even fall. It’s vital to realise that at this stage you have not discovered your company’s maximum profit figure (the chances of that are virtually zero), what you’ve discovered is YOUR maximum profit figure doing things the way you currently do them.
That may sound a little harsh – but when it comes to making money you have to be honest with yourself. As the owner of a profitable company you have done a fantastic job getting to where you are today. But you cannot stop there. You have to increase your profits to the maximum level possible while there is still a demand for your products or services.
The big money is staring you in the face right now if you can start learning the secrets of GROWING that business to realise it’s maximum potential.
In this week’s newsletter I show you six ways to increase your profits by 20% or more (and it’s usually a lot more) in a very short period of time. These are ways of making greater profits without necessarily working any harder – you just have to start working differently.
The fastest way to increase your profits by working on your business, not in your business:
- For heaven’s sake start making better use of your existing customers. Get their email addresses and send them regular reminders of your latest deals and special offers.
- Use the internet (blogs, emails and newsletters) to keep your clients engaged and keep your mailing costs at zero.
- Your mailing list is the most valuable asset your company owns – if I was to buy your business it is the mailing list that has the most value (not you, or your employees or your premises or any other overhead you can think of).
- If you have only one person in your company it should be the marketing director. Keeping in regular contact with your existing customers is vital – so too is bringing in NEW customers.
- The only way you can increase your profits is by getting more new customers and increasing the size of the average order for exiting customers. My view is you should be working on BOTH of these objectives on a WEEKLY basis. As the owner of the company THAT is your job. Delegate the menial tasks that waste so much of your time to others.
- Share you vision of success with all of your employees and reward them for hitting the new targets you set. Everyone likes to work for a company that has ambition and is setting itself new targets – it’s your job to lead from the front, not the back.
The key role of any business owner is to increase your profits – everything else is just a distraction.
Your company has grown over the years thanks to your efforts – you have done a great job. Now it’s YOUR turn to grow as well and make that business all it can be.
I have talked about how to increase your profits by 20% – that really is just the starting point. Once you change the way your think about your company and once you start to work On your business and not IN your business, you should be thinking about how to increase your profits by 100% over the next 12 months.
If you would like to know more about how to grow your company, how to increase your profits massively and how to start working On your business and not IN your business, sign up for a free copy of my newsletter to see if I can motivate you to move to the next level.