A Great New Year Begins With Perspective and a Plan to Profit
December 27th, 2017 // 9:45 am @ Scott Manning
Everything we have discussed over the past few weeks has all been leading us down the most important discussion a business owner can ever ask themselves… How can we be more profitable? Profit fuels growth. Profit fuels value. Profit fuels retention of quality team members. Profit is the point.
Of course, the more you help people, provide value to others, give them experiences, products, services that make a difference the more money you will make.
That doesn’t mean it’s going to be profitable. Unless you go to work on exactly that and you do something to ensure your business is healthy and prosperous.
No business who goes out of business or who has to pinch pennies or cut quality or service in any way – does good by their customers – only profitable businesses survive.
We have talked about getting more out of your customers, creating multiple income streams, the importance of turning over (or earning) the dollars faster so you can maximize your capacity – and then there is the often discussed topic of increasing your prices.
You can suppress expenses only so far. And seldom can you cut costs without cutting something else along the way.
The fastest way to increase profitability is to get paid more for what you are doing with no other variable change.
Here’s the reality: it’s just a number.
I have said that to you before. Our entire structure about de-commoditizing your business that we went through not long ago – was all about this right here.
Your ability to control what you charge is what allows you to create the ultimate leverage.
Think really hard on this.
There are also sometimes things that you are doing that your customers either don’t know or don’t value that are doing you no good. If they are oblivious to how you are going above and beyond or ways that you are unique or different you must tell them about it and help them to care.
As the year comes to an end… I challenge you to take your profit seriously. There are a lot of things you can do to make 2018 the best year of your life.
When it comes to money, your focus should be simple…
Make your customers, patients and clients more valuable to you.
Make your business more valuable to itself.
Maximize capacities, remove inefficiencies, exploit opportunities.
Stay focused on bringing money in, turning over dollars, accelerating your sales process and above all else cultivating long term relationships so that you are taking care of the most valuable asset you acquire, have, own and invest in – your customers.
I always like to start the new year with the following things…
1 – List of goals, money, life, wealth, stretch
2 – Reverse engineered plan of how to get there
3 – Complete calendar with all days allocated, plus all vacations and other events
4 – Inventory of all opportunities and assets plus plan to maximize
5 – List of Achilles heels you know you need to combat or overcome – a plan to make sure you are your best self and will not sabotage your own success
6 – Any thing you wish to eliminate from your life, simplify and make more productive and efficient, more autonomous
7 – Your health plan for your mind, body and spirit
8 – Routines for success
This is a big list and the year is almost out. What I know is you need forced self-inflicted structured discipline in order to make the most of every year.
I can tell you this: it’s a lot of work. That’s why so few do it and most settle for excuses to just pass the time. One of my favorite sayings I discovered was this…
“I’m not telling you it’s going to be easy. I’m just promising you it’s going to be worth it!” And it always is for those who choose to succeed and commit to making the next year the best year. You can, you are capable, you deserve it and I believe you will make it happen!
Category : Blog
