Your Path to Prosperity
September 10th, 2020 // 1:47 pm @ Scott Manning
We’ve been working on a lot here lately with the most important ‘back to school’ lessons from last month about understanding the real origin of where your revenue first begins and then taking a deliberate look at what you are doing to help increase your customers value and probability of purchase with every step of your experience.
I took you from the end of the equation, your final result of profitability, to ask you to assess how that profit ends up there. So, when you consider how to grow it, you don’t jump to conclusions such as trying to lessen expenses without thinking of the ramifications. That’s akin to trying to build a bigger building with fewer bricks. Instead, focus on making sure every dollar in your business is accountable to an outcome, value add, enhancement, and have an understanding of how it fits into your money math formula for your business success.
But, more than all of those in concept, it is about what you actually are going to do about it. What do you do with the information? What do you execute on in order to make a different result happen?
Far too many business owners just play business instead of actually work their business. Of course, you’ve heard the work “on” instead of work “in” and for most business owners they have to do both but all too often someone, maybe you, gets caught up in the “job” of it all and loses sight of the bigger purpose of it all.
The ‘job’ of the business can’t become a trap. Instead, it is your greatest leverage point because everything else we are talking about here is about making all the things around you more valuable so that your time invested in your business also becomes more valuable for you.
When you become more valuable to your business, your business becomes more valuable to you. That’s really what knowing the right numbers and then knowing what to do about those numbers actually gives; instead of just working more or harder or doing nothing at all. You want to be of the mindset of how to upgrade people, parts, processes, and profitability all through the power of creating leverage for yourself and for your business.
This is why our discussions here about making your customers more valuable should not be taken lightly because that is the greatest variable you have. That’s why the ratio of value and profit is so vital not just to know but to find ways to leverage and improve.
Last week, I gave you some tough love reminding you that you can’t buy your way to success and that embracing the work that is necessary is the best way to actually become more successful.
The best news is: you are selling your customers success that they want and the better you become at understanding, determining, and even shaping what their vision of success is, the more excited they will be to buy.
This week, I have some questions for you to bring this all into focus…
Do you understand your customers well enough to influence the way they make buying decisions in your business?
What can you do to better understand their desires, motives, and goals to better influence their preferences, expectations, and cooperation?
In what ways can you make your business more profitable while enhancing the integrity of your experience and principles of how you want to operate?
Do you have a complete understanding of where the profit is generated within your business?
When’s the last time you ask yourself that question because it isn’t everywhere and in everything. Just like the tree with roots beneath the dirt and blossoms up high in the branches. You can’t produce fruit without healthy, well nourished, and watered roots.
You must know what it takes, where it comes from, and how to care for every part of your business so that you get more of what you want.
There is a depth of lesson and business principle right there that could be a year (or lifelong) quest for the betterment and enhancement of your business and a perfect thing to be putting into perspective from now until the end of the year.
Inside of that you’ll find the secret to business success that most never understand and therefore miss the point (and the power) of real business ownership.
Remember, while you travel along this path of entrepreneurship, you reap the rewards of what you plant and the stronger the roots the greater the fruits. I know at times you feel as if it’s all you can do to just march ahead, but you’ll also find a lot on your road if you just take time to look – if you get caught up on the ‘job’ of it all, it is a sure bet you’ll miss the whole journey.
On Labor Day, I wrote you get to decide is it a labor of love or is there love in the labor – I hope for you it’s both – but I know which one does and should come first. One begets the other every time and when you get the two confused it’s really easy to get off track and find yourself on a road to nowhere. Find joy in the journey, follow your map to profits, and stay true on your path to prosperity.
Category : Blog
