Coach Tracy Ford says; You may be surpised that cutting your way to profits, the more comfortable approach is not enough
Chances are if you’ve tried to cut your way to profits it may not be working for you.
So what else have you done to create more business? Are you doing things pretty much the same as you always have? Why haven’t you changed? Are you getting comfortable in the uncomfortable?
Unfortunately, right now many small business owners are like the frog in the video sitting in a slow boiling pot of water. We have gotten so used to living with less that’s it’s become the new norm for us.
WAKE UP!!! QUICK!!!! WAKE UP!!!! NOW!!! You’re in a pot of boiling water and if you don’t do something different NOW you will croak!!!
Many business owners don’t like to change especially when they have been doing it that way for so many years. Many won’t ever take the action and do the things that are uncomfortable that will save their business, their life style, or their retirement… So how do you get yourself out of the pot?
• First you must know your numbers in your business. What is your break even? Look at what your business expenses and your personal expenses are on a monthly basis. As well as how much does it cost to produce your product or service?
• Second you’ll need to know some other numbers; the number of leads, your conversion rate, the average dollar sale, average number of transactions, and your profit margin. Then you will need to work the “5 Ways” formula. Just a 15% increase in each of these areas will double your business; it’s just math.
Leads x Conversion Rate = Customers
Customers x Avg. Dollar Sale x Number of Transactions = Revenue
Revenue x Profit Margins = Profit
For more information on the “5 Ways” formula from Brad Sugars go to http://www.bradsugars.com/page.php?page=5ways or check out his video on the “5 Ways” to massive profits at http://www.bradsugars.tv/?p=167 .
• The third thing you’ll need to do is work on yourself. Begin learning about marketing, sales, business and personal development.
• And the fourth is to start dreaming again. Envision Your Best Life™ and create yourself a dream board at http://www.oprah.com/spirit/O-Dream-Board-Envision-Your-Best-LifeTM.
Now get out of the pot to create the business and life you’ve always wanted; start getting comfortable with the other uncomfortable – change!