It’s frustrating when your profits have plateaued and your old strategies aren’t working so well anymore. It happens in almost every business I’ve worked with.
So what should you do?
Start by identifying a minimum 3 of the key “profit drivers” in your business. Here are some examples.. ..
- where your leads are coming from
- how many quotes you’re doing
- how well you’re converting them
- the pricing of your products/services
- the productivity of your staff
- agreements with key suppliers
- the feedback from your customers
- the wastage in your business
- your marketing messages
- collecting money and managing your cashflow
- the skills and attitudes of your team
Select just 3 or 4. Then think deeply about what you can do with each of them. Get laser focused on improving each of them by 1%. No drastic disruptive changes. Just 1% here and there.
Then rinse and repeat that focus each month.
The result will be a big return for your business over time.
Business Advisor and Mentor - LINDSAY KING BUSINESS CONSULTING
I'm married with 2 grown up daughters.
I was a CFO for large businesses in my earlier working life.
I started my own consulting business with a desire to bring to SME's the support and the strategies that large businesses all take for granted.
For the last 20 years I've worked closely with over 300 small business owners with the tools and strategies to grow their business, grow the returns from their business and build significant saleable value. Its been a labour of love.
Honesty and ethics are paramount to me. Many of my clients have been with me for 5 years or more.