Tag Archives: profit

Look back and plan forward

The New Year is a natural time to want to start making some changes. Which is why now is the time to look back on your year. While experience is great to have, you need to evaluate it to get the most out of it. In order to be more successful in this New Year, […]

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Mark up vs. margin

The terms markup and margin are often mistakenly used interchangeably, though they are quite different. Getting this right makes a big difference in the profitability in your business. Markup is percentage amount added to the cost price to arrive at the selling price. Margin is the amount of gross profit made on the selling price, […]

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Managing your results

Mastering the basics of running a business is the first thing I work on with a new client. Managing your money, your time, and the consistency of your product and delivery are the key to running your business. These fundamentals are so important to running your business because you need to know where you are […]

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Developing your niche

Your niche (is it “nitch” or “neash”?) is necessary for growing profits and increasing cash flow so that you can have a successful business. That may seem obvious, but the definition of niche means  ”you have no price competition.”  In many ways this is where you get your marketing right. That’s what developing a niche […]

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Team Building for Maximum Success

To get the most out of your team you need to be sure they are set up for success in your organization from the start. That is, fitting in with the culture and proper training. The best way to get your team to fit with your company’s culture is to be sure they come into […]

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Accumulate more cash

If you properly manage your money and do just a few things in advance, you will have more cash on hand, more often. Just by doing these few simple things… Create a cashflow budget, with just a simple spreadsheet to manage in-flows and out-flows of real “cash” on a daily or monthly basis. A real […]

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Making your Standard Operating Procedures usable

Think about the book of standard operating procedures that no one seems to pay attention to- why isn’t it being utilized? If your systems don’t save, time, energy, or money your team members won’t do it. If you think of the word SYSTEM as a pneumonic device, it would mean Saving Yourself Time Energy and […]

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Listen to your customers and make it count

It is so easy to get distracted by the everyday activities of running a business.  Does it sometimes seem to you like there is an endless list of things that require your immediate attention?  How many of them are urgent vs. important?  How do you determine which is which? Getting swept up in these tasks […]

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Do you know what’s making you money?

Are you taking on too much? Meaning, is your business trying to do much? Often, small businesses try to do more and offer too much to too many people. At the beginning, these small businesses are successful, they have more customers, they make more money and they grow, but during this process they begin to […]

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Creating Raving Fans

If you’ve read my previous article on The Ladder of Customer Loyalty, you’ll know that the top rung of your seven types of prospect/customer interactions is your Raving Fans. The most valuable asset to your business is your raving fans. They are so much better than sales representatives because of their credibility. To make this […]

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