The Goal Of Every Business Is…

The Goal Of Every Business Is…

April 22nd, 2021 // 10:46 am @

The Goal Of Every Business Is…

As a business owner there may not be any more important grasp on reality than the difference between top line and bottom line revenue.

The old saying goes it doesn’t matter how much you make, it’s how much you keep.  And I would go further and say how much you get into motion working for you in other ways that you never have to replace again.

That’s moving from just business owner to profitable entrepreneur to investor – the journey so few embark.

However, at the end of the day, you can’t have profit you don’t first bring in as revenue.  Therefore, the money has to travel in through the top of the business, which is why last week’s message was so important.  It is the difference between businesses that stay stuck at a plateaued revenue and ones that find ways to expand their revenue capabilities and achieve growth in profit.

The two big principles that I outlined were first knowing what revenue is most profitable and going to work on creating more of it.

And two, taking deliberate and decisive strategic ownership over looking for ways to expand revenue without the need for expanding overhead and capacity.

The facts are that every business owner might see growth in different ways and that’s okay.  That’s why they and you are in charge of your own business.  There are a lot of lifestyle implications to choices around growth as well as long term planning and even exit strategies attached to modalities of how a business grows.

For most of my Doctors in our Dental Success Today Universe they want a practice that is more profitable and requires less of them often both from a managerial and a clinical aspect.  The whole ‘make more work less’ concept that is possible by reverse engineering the math and simply focusing on the growth strategies that will make that possible.

When you are clear on what you want the outcome to be and how you want to work to achieve it, then it’s easy to know how to close the gap.  Business is always about aligning the what and the how.

Okay, getting down to business, there’s another area of making your business more valuable to you that is very important.  In setting priorities and organizing our goal setting from earlier in the year, we touched on it but I can tell you very few business owners take it as literal as it should be taken in order to make a difference.

Last week, I gave you specific questions around making your customers more valuable and talking about how to get more out of your existing customer, sales experience, and ultimately more profit by growing top line revenue that stacks on top of the base of overhead that you already have.

We have also done a deep dive into price strategy and fee structure as well that is the fastest and easiest way to boost your bottom line and take revenue straight into profit (of course, considering whatever you might want to enhance or add or do to make ‘higher fees’ and more substantial prices possible).

Here’s the big difference maker though for every business… not just the strategy but the culture and belief that your business should be a sales-driven organization.

Now, before you jump to conclusions – what I didn’t say is that you should not be a customer- or service- or results- or impact- or relationship- or other- driven organization.  You can and you should.

You can embrace more than one of these cultures.  The point is to not shy away from the fact that the business is driven by revenue and if everyone in the entire organization is not focused on opportunities to increase it then they are working against the goals and the health of the organization.

Here’s the best part, just like the alignment of the what and how with a growth model that is used to guide every strategy and decision, the same goes for this.

You get to decide how you bring to life the sales-driven approach of your business.

If you are providing incredible service and value, you are aligned with the best interests of your customers.  If you value the relationship as much as the money then you will always find ways to win.

No restaurant wants to have table sitters.  They want diners.

No store wants to have lookers.  They want shoppers.

No website business wants visitors.  They want buyers.

It is the only way to improve, benefit, impact, and serve the customer.  You can’t help those who never say yes.

The goal of a business is to create an environment where both parties win – customers take home value and you take home cash.

Again, how you do that is your decision and your greatest responsibility.  That is what makes it yours in that you can design it any way you want.

In my work outside of dentistry with other ventures, every business has their own defined plan and methodology to achieving this goal.  The one commonality is a shared objective of understanding the game of profitable revenue creation through a sales driven culture and an experience that is designed with this objective in mind.

What are you doing to deliberately create a culture for your business around selling and taking it to the next level?  What are you doing to create an experience for your customers that makes it fun and brings this to life in an effective way?  And is everyone on your team not just onboard but doing their part as well?

Going back to weeks past, when you see how you can improve your approach to sales (possibly being more direct about it), what would give you more confidence to increase your prices or try something outside of the box or add on services or expand ways in which your customers can buy from you and give you money?

How can you make this more of a celebration and experiential process where everyone is getting what they want?

We take a lot of our work here on Wednesdays to talk from the customers’ perspective and view point.  Today, I’m asking you to look at your business as entrepreneur, doer, owner, and investor to really think deeply about the foundation you are building on and the environment you have set up to sell within in order to gain more clarity, evolve further, take it to the next level, and expand.

And know this, to expand revenue you have to expand your sales, and to expand your sales you have to expand your vision of the value you provide to your customers.  That’s business!

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