Business owners often mistake business coaches with consultants.
There is a significant difference. As a business coach, I invite you to picture a Jukebox that has function buttons listed on it rather than songs. The function buttons might include:
* Instant Systems
* Instant Cashflow
* Instant Leads
* Instant Sales
* Instant Teambuilding
* Instant Repeat Business
* Instant Promotions
* Instant Business Coaching
* Instant Inbound Marketing
* Instant Guerrilla Publicity
* Instant Buying of Customers
* Instant Profits
And more. That is what our jukebox would look like if we had one, because frankly, as business coaches, we sing a different tune. What we offer is guaranteed to get your business humming.
One key role of a business coach is to push your buttons by asking tough questions, so let me start with a few for you:
a. Are you controlling your career or simply reacting to it? (Hint: If you are working more in your business than on it, it's controlling you.)
b. If you are unclear about some aspect of your business, do you hire a consultant to help you? (Trick question!)
c. Do you discount prices or invest in your business to increase profits?
d. What is your USP (Unique Selling Proposition) that sets you apart from your competition?
e. What is your plan B?
And these aren't even the hard questions! I'll address these further in a moment, but first, let's look at an area of business where a lot of business owners fall short.
One key area ALL business owners need to master is 5 Ways to Increase Their Business, and I have some insights to share with you on just how to do that.
To understand the 5 Key Ways to Increase your profits, you must understand the how the conversion rate works to increase your profits.
The formula is relatively simple:
Number of Leads x Conversion Rate = Number of Customers x Number of Transactions x Average Dollar Sale = Revenues x Margin = PROFITS
Clearly to benefit from the 5 Ways to Increase Your Business, you need to test and measure everything. Surprisingly, many business owners guess, or give their power away by leaving it up to their consultants to know the numbers. Don't do that. Instead, put the systems in place that will help you calculate what's happening now so you can determine what needs to be done to get you where you want to go.
About now, many of you are freaking out, gripping your heads and maybe even reaching for the delete button, because you don't have time to do all this crap? Right? Well, good. Frustration simply is a message being given to you that change needs to happen.
So, let's cut through the crap and put some pep in your step. (Crap, by the way, is our acronym for Conversion Rates Accrue Profits. Now, doesn't that sound a lot better?)
Here's what I want you to do. List all the functions in the 5 Way formula above down the left side of your page in a column you mark as "A".
In the center "B" column list your current numbers that related to the function listed (Lead generation...number; Conversion Rate...number; etc.)
Now add a third column marked "C", and increase the "current" numbers by 10%.
When you get all that filled in, add up column "B" and then column "C". You'll notice, at ten percent increase, that's a massive 46% increase in Revenue and a 61% increase in Profits!
Why do I bring that up? Well, let's go back to difficult question "c": Do you discount or invest in your business to increase profits? If you answered discount prices (which frankly most business owners do), you'd hear that annoying "loser" buzz, had you been playing a game show.
The correct answer, of course is to increase prices.
"But," you shout, "I can't sell what I have at the regular price, what will raising prices do except kill my business?"
Yes, it would seem that way, but what you are missing is that you need to include some added value with your increase to sweeten the deal.
Here's an example: A local business owner I know has a product that sells for $130 (it's actually a product and service, as he sells a beverage that helps people detox and lose weight). He made a bold decision to up the price of the product to $150 and customers didn't even bat an eye.
Why? Because the product works, AND he added a clever educational piece that gives customers an added value: knowledge.
I'm serious. People paid more to get educated. Who knew!
Clearly it's important to keep up with the trends of your industry and of course to have a plan "B". And it's important to get help to put all the systems in place. So, now it's your turn. Start pushing buttons and find the junction for your function, the fix for your mix, the rock for your roll.
What you'll really discover is extra time, extra money, and extra energy you never knew you had to do all those extra things you never get to do.
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There is a significant difference. As a business coach, I invite you to picture a Jukebox that has function buttons listed on it rather than songs. The function buttons might include:
* Instant Systems
* Instant Cashflow
* Instant Leads
* Instant Sales
* Instant Teambuilding
* Instant Repeat Business
* Instant Promotions
* Instant Business Coaching
* Instant Inbound Marketing
* Instant Guerrilla Publicity
* Instant Buying of Customers
* Instant Profits
And more. That is what our jukebox would look like if we had one, because frankly, as business coaches, we sing a different tune. What we offer is guaranteed to get your business humming.
One key role of a business coach is to push your buttons by asking tough questions, so let me start with a few for you:
a. Are you controlling your career or simply reacting to it? (Hint: If you are working more in your business than on it, it's controlling you.)
b. If you are unclear about some aspect of your business, do you hire a consultant to help you? (Trick question!)
c. Do you discount prices or invest in your business to increase profits?
d. What is your USP (Unique Selling Proposition) that sets you apart from your competition?
e. What is your plan B?
And these aren't even the hard questions! I'll address these further in a moment, but first, let's look at an area of business where a lot of business owners fall short.
One key area ALL business owners need to master is 5 Ways to Increase Their Business, and I have some insights to share with you on just how to do that.
To understand the 5 Key Ways to Increase your profits, you must understand the how the conversion rate works to increase your profits.
The formula is relatively simple:
Number of Leads x Conversion Rate = Number of Customers x Number of Transactions x Average Dollar Sale = Revenues x Margin = PROFITS
Clearly to benefit from the 5 Ways to Increase Your Business, you need to test and measure everything. Surprisingly, many business owners guess, or give their power away by leaving it up to their consultants to know the numbers. Don't do that. Instead, put the systems in place that will help you calculate what's happening now so you can determine what needs to be done to get you where you want to go.
About now, many of you are freaking out, gripping your heads and maybe even reaching for the delete button, because you don't have time to do all this crap? Right? Well, good. Frustration simply is a message being given to you that change needs to happen.
So, let's cut through the crap and put some pep in your step. (Crap, by the way, is our acronym for Conversion Rates Accrue Profits. Now, doesn't that sound a lot better?)
Here's what I want you to do. List all the functions in the 5 Way formula above down the left side of your page in a column you mark as "A".
In the center "B" column list your current numbers that related to the function listed (Lead generation...number; Conversion Rate...number; etc.)
Now add a third column marked "C", and increase the "current" numbers by 10%.
When you get all that filled in, add up column "B" and then column "C". You'll notice, at ten percent increase, that's a massive 46% increase in Revenue and a 61% increase in Profits!
Why do I bring that up? Well, let's go back to difficult question "c": Do you discount or invest in your business to increase profits? If you answered discount prices (which frankly most business owners do), you'd hear that annoying "loser" buzz, had you been playing a game show.
The correct answer, of course is to increase prices.
"But," you shout, "I can't sell what I have at the regular price, what will raising prices do except kill my business?"
Yes, it would seem that way, but what you are missing is that you need to include some added value with your increase to sweeten the deal.
Here's an example: A local business owner I know has a product that sells for $130 (it's actually a product and service, as he sells a beverage that helps people detox and lose weight). He made a bold decision to up the price of the product to $150 and customers didn't even bat an eye.
Why? Because the product works, AND he added a clever educational piece that gives customers an added value: knowledge.
I'm serious. People paid more to get educated. Who knew!
Clearly it's important to keep up with the trends of your industry and of course to have a plan "B". And it's important to get help to put all the systems in place. So, now it's your turn. Start pushing buttons and find the junction for your function, the fix for your mix, the rock for your roll.
What you'll really discover is extra time, extra money, and extra energy you never knew you had to do all those extra things you never get to do.
If you beloved this write-up and you would like to acquire extra details relating to http://detoks-organizmu.pl kindly visit the web site.
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