What Are the Five Ways You Can Increase Profits?

What Are the Five Ways You Can Increase Profits?

Does your company currently view marketing as an expense?

Are you spending your hard-earned money on advertising and promotion to bring customers in but then failing to deliver an experience that will create “Raving Fans”?

If that’s the case then you might be overlooking one important factor when it comes to your business, which is that you aren’t buying customers.

Buying customers is a change in mindset that incorporates the idea of focusing on profit per customer, not profit per hours or profit per item. It’s a mentality that enables a more methodical approach to make any business profitable.

So how do you begin the change in mindset to buying customers?

You have to view your business as a profit making machine and your customers as the investment that bring the profits in. You must also understand the five key numbers that drive profits and how, when multiplied, they can provide a vision for what your business truly can accomplish financially.

So what are five key numbers that exist in any business to drive profits?

The Five Ways

  1. Leads Generated
  2. Conversion Rate
  3. Number of Transactions
  4. Average Dollar Sale
  5. Profit Margin

When multiplied into a simple formula, these numbers provide a road-map to a booming bottom-line and profit explosion for your business.

So are you ready to learn more about how you can uncover the profit-making machine for your business?

Mark Phelps is a Certified ActionCOACH with a passion for business excellence and life fulfillment. His goal is to help create world abundance through business re-education.

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