Did you ever notice how we in business talk about profits? They’re the “bottom line.” The equation is ‘Sales-expenses=Profit.’ Our sales funnel starts with leads and ends at the sale; it doesn’t even recognize profits! It’s no surprise, then, that profits are hard to come by. What if we flipped this language and put profits … Continue reading Are You Failing to Put Profits First?
I’m spending more time with owners focusing intently on their earnings. This has led to conversations about how a company can boost the bottom line. Whether the company is young, 3-5 years old, maturing nicely at 6-16 years, or entering the period when the owner is thinking about an exit, earnings should be the filter … Continue reading Jettison the Three Beliefs that Reduce Earnings
Roller coasters are great fun at amusements parks. They’re not fun on your Profit and Loss statement. The anxiety experienced by too many business owners, no matter the size of their company, is a far cry from the happy anticipation we feel as the coaster slowly climbs to a pinnacle, and the exhilaration as the … Continue reading Get Off the Revenue Roller Coaster and Increase Company Value
What does respect have to do with revenue and profits? You know I am passionate about increasing profitable revenue. Respect may not at first glance seem connected to profitable revenue. Read on to see how respect is the starting point for meeting your profit and revenue goals. Respect is the Root of All Revenue Respect … Continue reading Respect: It’s How Your Revenue and Profits Grow
You’re either growing your business or you’re going out of business. Don’t be Blockbuster or Saturn. What is business growth? Business growth is an increase in revenue and profit year over year. At least three years running. Growth that’s steady, and consistent with the company’s size, is growth that increases the value of the company. … Continue reading Grow or Close: The Future of Your Company is One or the Other
A Missed Opportunity? I drove by a local jewelry store and saw that it is now closed and out of business. Just 6 months ago I spoke at length with the owner about working with her to boost her revenue after a disastrous 2018 holiday season. She declined, and now she is out of business. … Continue reading Uncomfortable Truths: Friend or Foe?
There are dozens of HVAC companies in every community. Looking at their homepages, you will see that every single one of them promises emergency service within 24 hours. You’ll see that they offer inspection services for your heating equipment in the early winter and your cooling equipment in the early summer. The prices are comparable. … Continue reading Want to Increase Profit Margins? Add New Value and Fresh Thinking
When I owned Café Aurora, all of my employees had to be jacks-of-all-trades. They cooked, served, cashiered and cleaned. I knew in my gut that every one of those jobs could contribute to, or take away from, the revenue each day. Each day that they did their best, receipts would be high. My experience with … Continue reading Instill Pride of Ownership Throughout Your Company
What can two congenial, smart and focused people create in two days? I am here to tell you, with the right mindset, it feels like two million ideas!Having just returned from two days of innovation and growth-minded development with my own business advisor, Mark LeBlanc, I have a notebook full of new ways to deliver … Continue reading Two Days Two Heads An Explosion of Ideas
I learned about cash flow imbalance the hard way. In the early days of Trivers Consulting Group, I would work from time-to-time for the clients of another service provider. I would let him know the total owed to me, then he would bill the client and wait for the client to pay. Many times, these … Continue reading To Improve Cash Flow, Improve Your Sales Process