Here’s The Only Things You Can Control in Business
You can’t control your profits or your revenue.
You can’t control your customers, staff, marketplace or the government, just like you can’t control the weather.
In life and business, there are only two things we can control.
Our thoughts and your actions.
If you are worried about other’s thoughts and actions, STOP IT. You can’t control it.
The Five Activities to Boost Profitability
So what actions do we need to take to increase profitability?
To get more customers, we can do activities that connect us to people who want what we provide, which generates leads.
Then, we do sales training and activities that will convert more leads into customers.
Once we have more customers, we do activities to get them to buy more often from us, as well as provide them with more solutions to the problems they may currently be getting from other providers.
These activities will generate more revenue.
Profit is what is left over from revenue after we take out all our expenses. We do activities that keep our costs down while improving our team performance and negotiating with suppliers for better prices.
In summary, we can only control the activities we do that influence revenues and profit of which there are only five areas – lead generation, sales conversion rate, repeat transactions, average dollar sale and margins.
Need help to boost your profitability? Visit Business Mentored here.
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