When the average business owner wants to boost his profits, he usually:
- Focuses on sales instead of profits (strike one),
- Looks about him at what everyone else is doing (strike two),
- And looks for “expert” advice from the wrong people (strike three).
It’s like catching fish with a boxing glove. Boosting your bottom line requires strategic thinking, and it’s best to accomplish this without any cost or risk, and the minimum of time.
Think like a general instead of a soldier, and a like chess player instead of a checker’s player, and you’ll start thinking like a Joint Venture Broker. Strategists move beyond ego and fear to a rational approach that focuses on profit and abundance. It’s all about leverage and understanding reciprocity and systems.
You Need to Ask Yourself:
Here are a few questions to ask yourself, in order to move from tactician to strategist, and from selling your time to using your head:
- What else could your customers buy, before, after, and during their purchase from you, and who could you arrange that they buy that from, while you receive a piece of all the resulting, ongoing transactions? Back end = 100% pure profit.
- If you gave them an incentive, how many businesses / people could you arrange to enthusiastically, systematically, and consistently refer business to you? Unlimited, qualified referrals from a trusted source with a high closing ratio is the result.
- How much extra value would you like to add to your current transactions at no cost or risk to you? This can increase transaction values and closing ratios and drop your attrition rate through the floor.
- How could you piggyback on the distribution, excess inventory, unconverted leads, marketing, sales, and other resources of twenty other businesses? Scrap that marketing budget.
- How can you arrange to stop paying for promises and only pay for results, which will essentially allow you to have an unlimited marketing budget? Fire those coaches and consultants right now.
When business owners realize that they’re working too hard and too long for too little, and that they’re only realizing around 10% of their potential profit, they suddenly open their eyes and start thinking like real business owners instead of broke, self-employed, salespeople who BS themselves even more than they do everyone else.
You can move from the soup kitchen to the Four Seasons faster than you think. Stop paying for a Rolex and getting a Timex. But remember that the man who wears a Timex can’t teach you how to buy a Rolex.