Welcome to August! all month long we are going to talk about the money in your business.Now that we’ve gone through the very base of your foundation, it’s time to move to the core of this weekly message- YOUR MONEY!
What better way to begin than with the foundation I use in my business, as well as with ALL my clients. Watching the video for this post will enable you to get the most out of it. I take you through the 5 ways to double your profits. In fact, every week this month, I will do a mini training – it’s easier to show on slides. each will be about 10-15 minutes.
In your business, I am sure that you want more customers and more money. Ultimately you want to really KEEP more money. It’s interesting; I continually interview small business owners so that I am always bringing relevant information, which means, I focus on the top challenges. When this topic came up, the common theme I heard was that they all want more sales, because that will bring them more money. My next natural question to this was “Are you profitable now?” Many said they weren’t sure, some said no, and s few said yes. When I begin working with a new client, the first thing we do is dissect their current sales. It is not uncommon to find out that they are in fact losing money on every sale. Why in the world would we want to bring in more business when the business we have is not profitable?
The #1 thing that affects your bottom line is Pricing
Are you taking into consideration everything that goes into your product or service. Understanding your true cost of sales #1, then what’s goes into delivering it to yous customer #2.
The big omission I see is your time! It counts and it matters! Travel time is an area that many small business owners seem to “forget”. Or they discount their prices in such a way that it cuts out their profit (My blog on August 17th is on this very topic)
(By the way this month in my Free weekly double your money class, it’s all about time! Join us by registering HERE )
So- your homework is to dissect your sales and figure out if if they profitable. Need help? I have a few slots available for a laser session where I will help you figure it out. Grab yours HERE