From -$30k to +$90k in PROFIT!
Is is possible for a $400,000 business to have a $120,000 profit swing. YES. Now it may not be common, but it is possible. Check out the video below to get the core of how it was done.
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Sales conversion and the common forgotten secret …
When it comes to growing your sales (and profit more importantly) one of the best and most often overlooked strategies is to work on conversion rate. Conversion rate is simply the ratio of customers that buy versus those that enquire. Any gain in conversion goes directly to the bottom line. i.e grow your conversion by 15% and your profit goes up by 15%. Well pretty much ...
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The logic of Risk Taking
All business owners take risks.
You had to take a risk to start a business, and as you know; the opportunity to take risks is always present and often doesn't get any easier.
The reality is, to move your business forward you will ALWAYS need to take risks. Right now it may be that one risk that turns into your biggest opportunity.
It's easy to sit back and look at someone else's situation and easily see a certain risk that makes sense to take. It's a different story when you're the one who has to bear the risk. Emotion; particularly the emotion of fear, becomes involved in the decision.
Looking back in my life, it is the biggest risks that I've taken that have provided the most reward emotionally, mentally and financially. And I'm sure it's the same for many of you. To help you move forward and approach risks with some element of logic, I've outlined the key stages you'll find yourself going through. I certainly find that when you can be objective about your emotion it helps to offset some of the fear. Fear is rarely rational. That certainly doesn't mean we should ignore it. It is a very helpful emotion. Sometimes we just need to put it in perspective.
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Ignorance
There is an excuse for ignorance, but there is no way to avoid the consequences - Edward Deming
The Big Questions
For a while I've been using the questions below to help clients form a vision of what they want, in a way that expands their thinking and tries to remove some of the restrictive beliefs we all have. The challenge with beliefs is they can severely limit the way we think and the results we achieve.
In recently talking with a friend who is doing a bit of soul searching, he gave me the idea of posting these for public reference. If you stumble upon this blog and it helps you out, let me know. I'd love to hear the outcomes.
Spend some reflective time in a quiet place to ponder these. Take notes and see what comes out. After committing some time to this, park it and let it simmer with you. A few days later revisit and see what your brain pops out. Remember …. there are not rules on what is right and what is not.
The Big Questions ...
- What am I really good at?
- What am I passionate about?
- What do I enjoy doing the most?
- If money and time were not limited, what would I do?
- If success was guaranteed, what would I do?
- How can I create the most value for people doing what I enjoy the most and are the best at?
- How much impact can I have on the world? How would I do it?
- What does a legacy look like by my definition?
- What would I have to do to create a legacy?
- If there was one global problem I would like to solve, what would it be?
- If my mission was to impact a billion people, how would I do it?