Your price is right when your customer buys your offer. The price is somewhere between the lowest price you are willing to accept and the highest price your customer is willing to pay for it. Getting to that price is a combination of a few things. This is best done with research and good old-fashioned, […]
You’ve invested your blood, sweat, tears, nights, weekends, and a lot of money into your business. Don’t you want to recoup some of that when it’s over? You should! There are so many reasons that support you selling your company versus closing your doors. I’m talking about everyday businesses too, not necessarily the Shark Tank, […]
As business owners, we all want more leads, right? But leads don’t necessarily mean sales. What if you have a process to convert the leads into warmer and more interested prospects? Could you have more success turning warm prospects into sales? Of course! Here’s my 4-step formula for converting more leads into a warm and […]
Profitability ratios are essential metrics that provide insights into a company’s financial performance. By analyzing these ratios, businesses can assess their profitability and make informed decisions to improve their financial outlook. In this article, we will explore three crucial profitability ratios: Gross Profit Margin, Operating Margin, and Net Profit Margin. Gross Profit Margin = Cost […]
As summer heats up (everywhere but in SoCal) and schools are out, we start to think about taking some time off to enjoy the fruits of our business labors. For many business owners, this becomes a difficult task. Either they work insanely hard to cram their entire month into a couple of weeks so that […]
Your sales conversion rate is one of the easiest ways to track and improve your business’s revenue. It all starts with understanding your data and once you have it, you can make small incremental changes to improve your revenue and profit. Here are the 6 areas you should be looking to improve: 1. Your sales […]
There is a simple method to calculating your profit. Income – expenses = profit. Right, but there is so much more to that statement that you show know about. As such, what drives your profit? In my 3rd book, Boosting Business Profit, I talk about the pathway that you should be following to improve that […]
I just love this time of year, the NHL Stanley Cup playoffs are going strong, and the NBA playoffs are also going. It makes me think about how playoff time translates to businesses when they are in a position to close the deal. We’d all like to be the only contender in the game, but […]
Watching the coronation of King Charles III in England, makes me think about how leaders are seen inside of their own companies. England’s Monarchy is a symbol within their county and not really ruling over the country’s policies or government. How does the world see you as the founder or leader of your business/country? Are […]
As business owners, we sell our products and services but how we position them for sale is a whole other story. I’m talking about how to increase the average purchase price that your customer buys from you and I’m going to call it your shopping cart. This works for both service providers and product sellers. […]
