Increasing your business' net profit and margins is easy, when you know what
to measure.
Ideal figures to measure are your Key Performance Indicators or KPI's. There's
magic in measuring as it becomes so obvious what you need to do to increase
net profit margins when you see the right numbers.
Knowing how to improve profitability is easy when you know what to measure.
The video has the best best small business management tips you'll find on
YouTube to understand numbers.
This video is number 4 in the 7 Steps to Business Certainty series. The
previous video shows how to find profit leaks and profit opportunities.
This video is a small sample of the incredible measuring tools you receive in
the advanced business and management training program called The Academy of Business Mastery.
This training course gives you these tools and more, plus 1 on 1 customisation to make it work for your business. Then you get guidance and training on what the figures mean, and what strategies you need to apply to double or even triple your net profits in weeks to months.
There's no other business management course like it because they don't include measuring tools, systems, templates and 50-90 strategies identified for your own business, to take all the guesswork out of growing it.
Businesses are regularly adding $300,000 to one to five million dollar revenue
businesses in 3 to 7 months after starting the training. Some businesses are adding even more.
Find out more about the Academy and get access to more great info from
our website - www.profittrans4mations.com
Our training suits all types of businesses, because we've refined our strategies and tools over 17 years with 1,000+ businesses in all types of industries and various different size revenues.
Some clients' businesses were making massive losses when they started with us and then saw their business become extremely profitable again as the cause of their challenges were quickly identified and solutions were provided in specific details.
Leading accounting firms endorse our training and company, see the video testimonial evidence on our website.
See the training that's way beyond business coaching and giving the industry something to think about. Remember Profit Transformations as it becomes a global sensation for businesses across the world.
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How to Improve Profitability | Small Business Management Tips | Net Profit Margin | kpi examples
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Contents of this Video
1. The 2 Principles of Business Growth
2. How Measuring Reveals Profit Opportunities
3. How to Rapidly Increase the Profit in Your
Business without Increasing Marketing Costs
3. The 2 Sides of Business Growth
1. Analysing (figures you’ve measured)
2. Strategizing
Poor analysis leads to poor strategy choice
Therefore the more you measure, the more you
can analyse and the more opportunities you find
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4. Strategy Types Determine Progress
Under these “Types” of strategies, there are
hundreds of strategies to grow any business.
Business owners often focus on Lead Generation
but profit strategies are more important.
Are your business profits increasing rapidly? If
not, which strategy type are you focused on? Are
you testing and measuring different strategies?
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5. Sample Measuring Opportunities
Can you see all the profit leaks & opportunities here?
There are a dozen strategies to increase profits from
what these numbers reveal. Every one will increase
profits – without risk of wasted time, money or effort.
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6. Strategies We Can Apply
This business could send out newsletters or offers to
previous customers on services they haven’t bought, to
actively generate more sales
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Google isn’t targeting good phrases (shown by
conversion rates), so better phrases would help
High C/R lead sources are best, so increasing referrals
and leads from alliances is easy when an effective offer
for both is introduced
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Additional Strategies
Facebook ads capture people early in the buying cycle,
(its showing here with very low sales), so it wastes time.
Qualifying, not just these leads, but all will save time.
The biggest opportunity here is sales training (for
qualifying to reduce Lead to Quote C/R, and to increase
Quote to Sale C/R). Our systems would increase C/R
from 33% to over 50% quite easily, which is a 50%
increase in revenue.
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More Strategies
Do & Charge sales have high margins and no wasted time
with quoting, so it’s a great source of sales, which are coming
through real estate agents. Brining on more would be an
excellent strategy and easy to do.
Leads from the website convert poorly. Good copywriting by
taking the word “we” out and changing it to “you” would
make a significant difference.
Look at the difference these 8 simple strategies make…
10. The Difference in the Result…
Its an increase of $29,858/month, (equal to
$358,296/year) – just by applying simple strategies,
to opportunities – and it can be achieved without
any ongoing cash-flow cost.
Improving on multiple numbers is the key to HUGE
profit increases.
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11. More Profit Opportunities
We’ve just looked at a small aspect of measuring
Sales & Marketing to identify profit opportunities.
There are a lot more ways to measure, to make
confident, profit increasing decisions by applying
strategies.
Bigger profit margin opportunities exist by
measuring Production…
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12. Measuring Production Margins
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$1 Million turnover - Split 80:20
$800,000 x 3% = $24,000
$200,000 x 12% = $24,000
Net Profit = $48,000 (4.8%)
6 months later…
$800,000 x 12% = $96,000
$200,000 x 5% = $10,000
Net Profit = $106,000 (10.6%)
13. Actual Measuring of Production
This is where BIG profit margin increase opportunities are
found! This is a month summary. Red means a loss, green
means profit. There’s a 16% margin difference from one
service to another and 17% on materials. That’s HUGE!
Opportunities for profit margin increases are everywhere!
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What it all Means
5% net profit margin on a $1,000,000 turnover business is
$50,000, so a 16% difference is the equivalent of $160,000
in net profit.
16% is a HUGE amount of difference. It’s the difference
between making zero profit and having $160,000 in cash in
the bank!
Are you seeing the power of what these numbers are all
about? Can you see why the magic of measuring is what
increasing profits is all about?
15. The 3 Legged Stool of Management
Your business has 3 functions, win sales, do the
work of the sale and get paid for the sale, seen here
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Measure $ each
week for each leg
Now lets look at how
to keep those 3 legs in
a harmonious balance
16. Managing all 3 “Legs” of the Stool
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This measuring
tool with just 5
numbers, gives
you total control
of your business.
You see trends
every week across
all 3 areas.
17. Stress-Free Business Ownership!
A major causes of stress in business is… having too
many sales for your (production) capacity, or not
having enough sales, or not having enough cash in
the bank.
Because this tool is measuring the previous 4 weeks,
all the time, you see issues very quickly and avoid
them, so no more stress – instead just peace of mind!
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18. More Profit Opportunities
We’ve just looked at a small aspect of measuring
Sales & Marketing and Production to find dozens of
profit opportunities.
Can you see there’s magic in measuring, and the
power of applying strategies to numbers? That’s
what we call Business Growth Planning
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Real World Results
What profit are you missing out on, by not being able to use
these measuring tools to find profit leaks and opportunities?
Could it be $100,000, $200,000 or even more?
What difference would that increase make to your business &
your personal life?
None of our clients expected it, and doubted it would work for
them, but it still did. Why can’t it work for your business too?
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Your Mission
Focus on measuring more, & you’ll find lots of profit
opportunities & leaks to increase margins for free
Can you raise your prices? Measure your conversion
rates before hand, to see if you actually lose sales
Work on new strategy “types” you haven’t tried
Consider the next Business Certainty Training. You’ll
get 50+ top strategies from the 22 Types included!