Growing a profitable business requires more than generating leads and making sales. While this is clearly important there are many more profit drivers in your business and you need to know them all.
When business owners focus solely on lead generation as there source of revenue they build a business that is focused on volume instead of value. One of the drivers of highly profitable business is to maximise the value and lifespan of every customer they win.
This means paying attention to the 7 Profit Drivers in your business.
1. Before you every think about discounting, think about value adding first. Discounting can erode the perception of value in the marketplace and requires you to have work longer and hard to arrive at the same income point.
2. There are two types of thinking in business. Above the line and below the line. Above the line thinkers take responsibility for the state of their business, accept there will be outside pressure, but find ways to work around them. Below the line thinkers spend their time complaining about the challenges and feel powerless to do anything about them. Perferring to make excuses for the state of their business.
Which mindset are you applying to your business - Above or Below the line thinking?
3. The faster you become familiar with the critical numbers in your business, the faster your business will grow. Ignorance may be bliss but when it comes to your critical numbers it's also very costly.
4. Marketing is not simply about the acqusition of clients its about how you maximise the value of every client you have.
Episode 50 - Jesse Cole - Why Putting Your Fans First is the Fastest Way to Stand Out
Episode 59 - Gabby Leibovich - Lessons from a Billionaire - How to Build a Digital Business
Episode 65 - Gihan Perera - How to Designing a Plan to get Your Business Thriving in 2021