The primary object of every business is to maximise profits. And there’s barely a business in the world that couldn’t unlock areas of hidden profit just by following a few rules and suggestions––some simple, some a little more difficult. This book will let you know what they are and how to use them. The key action here, however, is not “knowing” but “doing.” With some of the ideas in this book, you’re going to say: “I know that; that’s simple stuff.” You may know it, but do you do it? This book will also show you how to motivate yourself from merely knowing to doing – taking real and profitable action. There’s a big difference when it comes to making business profits. After every chapter, you’ll find an action plan that will help you to turn the good ideas in the chapter into operating tools that will improve your business systems and put you on the road to greater profits.
That is not to say that every idea in this book will benefit you. This program doesn’t claim, nor does it pretend, to have all the answers to all your business problems. No book, course or seminar could do that. It will, however, expose you to some tried, tested, and field-proven ideas, concepts, and techniques that have worked for me and other successful business people. I’ve spent a lot of time and money not only studying the business literature, learning from mentors, and attending business seminars the world over, but I’ve also used these ideas to improve my own businesses and as a consultant to other businesses. I know that they work in the real world, and so will you as you implement them into the systems of your own business.
That’s what this book is all about. It has been written with the goal of helping you become the best you can be at what you do professionally. You’ll quickly see how these ideas will help you to better service your customers and prospects, and to implement efficient systems, and from this greater profits will come.
It’s easy, the ideas do work and they’ll work for you.
You will find that many of these ideas are easy to implement. As soon as you read and understand what the book is saying, you’ll be able to put them into action immediately. Others may take a little longer to gear up, but the organisation and planning required are well within the scope of even two business persons putting together their first operations.
And that’s important. It’s hard to get a new business off-the-ground and profitable. In fact, 92.4% of new businesses will close their doors by the fifth year of their operation. If you make it past that milestone, chances are you are still treading a fine line. The irony here is that most businesses have untouched areas of hidden profits that make the difference between success and failure.
Ask yourself a couple of questions. First, are you making a decent living out of your business? Do you have a business or a job? Or are you working fifty or sixty hours or more a week for just enough to get by on? Sure, getting a business off the ground requires many sacrifices, but for how long and to what point? And is it enough just to make wages? Surely the main business goal is to increase the value of your business so that it is worth something substantial when you sell. Too many business owners are content to just make a decent income from their business with no idea how they could turn it into a valuable asset. This book will show you how it is done.
A small example will let you see why increasing profit is worth far more to you than the basic dollar value income. Let’s say that your business earns a 20% margin of profit yearly. You could say you’re going nicely, thank-you, and are quite happy with things as they are. Well, perhaps your income is fine, but what about the value of the business when it comes time to sell? Let’s assume that your industry values your business at three times net profit, a modest assumption. That means for every dollar you add in profit, the value of your business increases by three dollars. Therefore, if you double your yearly profit, you triple the value of your business. This book will show you that this is the aim – increase the real value of your business so you have the opportunity to sell it for a large amount at some point in the future. It is a project well within the capabilities of any business person who wants the most from their business and is willing to put in a little study and implement what they learn.
To unlock the hidden profits in your business this book focuses on two main areas: marketing and systems. All businesses are really marketing businesses. Some do it well, and some do it poorly, but all must do it. Behind the marketing are the systems that make the business operate, some efficiently, some not. Some businesses SAY they have systems in-place, the truth is that most do not. Good marketing and efficient systems equal high profits. This book will explain simply how to get the most out of both areas.
I would like to emphasise how important it is to keep an open mind about the ideas that will be put forward. It’s too easy to shrug them away because you may not agree, they don’t fit with your personality, or because you’ve heard them before. For instance, if you’ve heard an idea before, say to yourself: “Yes, I’ve heard that before, but am I using it?” If not: “Why not?” OR better “How can I?” If you are currently using the idea, ask yourself, “How effectively am I at using it? How can I improve on it to make it even more effective for me and my business?” Then most importantly, ask yourself this question: “What will I do as a result of what I’ve learned?” Remember, it’s not what you know––it’s what you do that counts. Ideas are powerful. And good ideas are really important for any business. They’re what keep your interest up and your business fresh and alive and growing. But they must be put into action. Only then will they make a difference in the way you do business, the results you realise, the fun you have, and the profits you make.
This action guide is full of good, practical, and usable ideas that can help make that big difference for you. But it’s up to you to tailor them to your own unique situation, and more importantly, to put them into action. Knowing is the first step; doing is what it is all about.