5 Ways to Increase Your Profit

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You may be surprised to hear that there are only 5 ways to increase your profit. It may sound scary, but actually, when laid out in a business framework it is easier for you to work on your business.

 

Here are the first two ways:

Leads times Conversion Rate equals customers

You can't actually increase the number of customers you have directly. You can increase the number of leads you get and you can increase your conversion ratio, the number of customers you have is a function of your lead generation activity and your conversion ratio.

Here are the second two ways:

Customers times average Spend per Customer times average number of Transactions per Customer equals Turnover

You can increase the amount of money your customers spend with you, and you can increase the number of time they spend with you. Your turnover is a result of these variables.

The fifth and final way to increase your profit is to increase your Profit Margin by reducing fixed and variable costs.

In the New Business Generator we will be looking closely at this business framework and working with 3 of the first 4 ways of increasing your turnover. You will be working on your own business with the help of a business coach, and other small business owners. You will benefit from the shared experiences of everyone at the workshop, which is why I won't allow your competitors to attend with you.

You will walk away with usable strategies for increasing your turnover, that you will be able to implement immediately. If you don't, you can have your money back...Guaranteed!


I am running a 'New Business Generator'  workshop on Tuesday 9th November. Look in the events section for more details.

www.InspireBusinessCoaching.com

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