07.22.07
A Remarkable Way to Dramatically Increase your Bottom Line Profits – FAST.
This system is as simple as it is profound, as easy to implement, as it is to profit from. But you have to know what is going on in your business in order to make it work. Most entrepreneurs don’t know this, so this exercise alone will be very useful, revealing, and profitable.)
This is what you need to have on a spreadsheet in front of you:
All your ratios – closing ratios, direct response ratios, Returns on Investment (ROI) on advertising, etc.
All your incomes – all JV’s, all products, all services.
All your expenses (private, as well as business.)
All your production numbers – that’s your people – what exactly is being produced, and by whom?
All your tax information.
All your investments and ROI info on them, including investments in consulting, newsletters, networking, advertising, corporate gifts, newsletters, business meals, etc.
All your TIME expenditures (You most expensive, irreplaceable asset.)Do you know what you spend all your time on? What is the specific ROI for each investment of your time / life?
Next, look at each event / item / investment / cost / employee / JV INDIVIDUALLY and ask yourself the following simple questions:
Is this worth continuing with? Shall I end it, fix it, or improve it?
Is this person worth retaining, or shall I fire them, fix them, or get them more productive?
How can I improve this ROI by 10%?
How can I cut this cost by 10% or remove it altogether?
How can I improve this ratio by just 10%?
Now for the amazing part of this little article that can dramatically change your life: If you only identified TEN areas/ cots, ROI’s, people, JV’s or investments, and you only improved each one by 10%, you would DOUBLE your bottom line profits: 10 X 10% = 100%! I think this is worth taking a day off with your figures, and spreadsheets, away from the madding crowd. Then, bring it back to your Mastermind group, JV Partners and true friends, and you will be incredulous at the advice they will be able to share with you to accomplish dramatic improvements.
Robin J. Elliott www.DollarMakers.com
