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I am constantly onto my clients, pushing them to review every facet of their business;
- Conversion of leads into sales
- Up selling, selling more, more often
- Team productivity, efficiency and cohesive activity
- Cost of goods / Gross Profit
- Fixed costs / Net profit
These should all be reviewed on a weekly, if not definitely on a monthly basis.
You see it isn’t one thing that makes a huge difference to your business, it is the little ‘one percenters’ that all add up!
It doesn’t require a massive outlay of cash, just an adjustment in your thinking, planning and execution…
If you can increase the efficiency of your marketing, convert more leads into sales, keep those clients for life, have them spend more, more often, develop your team to delivery amazing service, invest in technology that saves you a small fortune and review your costs regularly, your profit will go up exponentially!
The best thing about implementing a strategy in your business is that you see if it has worked or not, sounds basic doesn’t it, but if you know what doesn’t work, you are also getting closer to identifying what does work and when you do that, you continue to develop what works well, more and more…
Keep doing what works and reduce what isn’t, once again sounds simple, but you would be surprised how many people don’t even review what they are doing or how well what ever ‘it is’ that they are doing in their business is performing.
- Increasing your marketing efficiency by 10%
- Increasing your conversion of new customers by 10%
- Increasing your sales by 10%
- Increasing your retention of clients by 10%
- Increasing their individual spend by 10%
- Increasing their purchase frequency by 10%
- Decreasing your COGS by 10%
- Decreasing your Expenses by 10%
- Decreasing your outstanding debtors by 10%
- Improving the productivity of the business by 10%
Do you know what impact this would have on your profit?
I can tell you, it would not be a measly 10 %…
If you would like help learning about the Key Financial Performance Indicators in your business, how to go about improving each of them, to significantly improve the bottom line of your business, but you don’t know where to start…we can help!
At ABC Business Improvement we have or are assisting builders, tradesmen, retailers, restaurants, wholesalers, manufacturers, mechanics, professional service providers like accountants, lawyers, pharmacists, dentists, importers/ exporters and we can assist you too!
At ABC Business Improvement we will organise a meeting where you will;
– Uncover the challenges you are facing
– Define a path to overcome them
– Create a first step plan to move forward
– Gain a sense of excitement and relief, knowing where you are going
Be one of the first 5 to contact us this week and we will organise a ‘exponential profit growth’ strategy session today…