Stagnation is the silent killer of businesses. Without consistent growth and profitability enhancement, companies risk falling behind the competition or even shutting down. However, with the right strategy and guidance, stagnation can be overcome. As a FocalPoint Coach, I have helped numerous businesses break free from stagnation and unlock transformational growth, often doubling profits within a year.
The Path to High Profitability
Getting to high profitability requires meticulously analyzing your business, identifying profit limiting factors, and implementing tailored strategies to incrementally improve in key areas. This includes enhancing customer acquisition, boosting revenue generation, streamlining operations, and maximizing profit conversion. Small, compounding changes in these areas can have an outsized impact.
Conquering Complexities
Complex challenges require sophisticated solutions. As a FocalPoint Coach, I leverage decades of experience across industries to provide strategic clarity. We will pinpoint your biggest roadblocks, whether it be high customer acquisition costs, low conversion rates, operational inefficiencies, or excessive expenses. Customized strategies will then be crafted to tackle each challenge.
Escaping the Gravitational Pull of Mediocrity
For many business owners, the goal of doubling profits seems overly ambitious and out of reach. This mindset manifests into a gravitational force that pulls you towards mediocrity. To escape this trap, you must believe in your growth potential and be willing to make incremental improvements across all business facets month-after-month. With 1% monthly enhancements, you will be shocked at how quickly your business can transform.
Activating Brian Tracy’s Wealth Formula
The legendary author and business consultant Brian Tracy devised a simple yet powerful wealth formula. It shows how small improvements in three key areas can exponentially grow your profits. Let’s examine each element:
– Increase Leads and Conversion Even a 1% monthly improvement in leads and conversion rates can significantly expand your customer base over time. More customers means more revenue.
– Boost Transaction Value Look for ways to increase average order value by 1% each month. Likewise, reduce the time between transactions to drive more frequent purchases.
– Streamline Operations Shave unnecessary costs in production, inventory, systems, labor, etc. Automate where possible. A 1% efficiency gain per month goes a long way.
The ‘1% Rule’ for Results
This 1% monthly improvement framework illustrates the awesome power of compound growth. Tiny changes accumulate over 12 months to profoundly impact your bottom line. By year end, you could realistically double profits or come very close by adhering to this incremental progress approach.
Strategic Insights for Your Business
Of course, this framework requires customization to match your business model, industry dynamics, resources, capabilities, and objectives. As your FocalPoint Coach, I will provide the strategic clarity and actionable plans tailored for your unique needs. With laser focus on quick wins and long-term profit drivers, we will map out the path to doubling your profits.
Seizing Your Moment of Opportunity
The decision is now in your hands. You can choose to maintain status quo and tackle another year of lackluster growth or step into your moment of opportunity. A window is open for you to actualize your business’s true profit potential. Don’t let this moment pass by. Now is the time to work with a FocalPoint Coach and unlock transformational growth.
Next Steps
With the right strategy and consistent execution, doubling profits is within reach. Let’s connect for a free one-hour consultation and profit roadmapping session. Together, we will kickstart your profit multiplication journey and make 2024 your best year ever. Join the many business owners who have worked with a FocalPoint Coach to dramatically enhance profitability. The first step begins with you.
FULL TRANSCRIPT
Businesses without profit can not sustain in the market.
How was your 2023? Do you want to multiply your profits in 2024?
We had a tremendous success on December 12th at the webinar where we talked about hidden opportunities to double your profits in one year using 30 plus years of business success and 4 plus million program graduates of FocalPoint. We have strong methods that can help you double your profitability in just one year.
One of the challenges with profitability, every business industry and category is different. So they come with unique challenges, unique issues – but we work with business owners 1:1 looking at the unique challenges, unique problems, and helping them double their profitability.
Some of the business owners that have come to me mentioning that doubling profitability is very complex. They seem to believe that we double one category for example doubling revenues, or doubling lead generation, or maybe improving the sales conversion just focusing on one category that becomes a complex problem because doubling one category is very complex matter of doing it depending on the industry type and assessment that we do. And that leads to people being scared of the numbers and thinking that it’s just mission impossible to achieve and that results in inaction.
What is the consequence of inaction or no action? The consequence of no action can be very significant. You have business that may decline or you may go to a place where you did not hope for.
How was your 2023? Do you want to stay with the same problems? Or do you want to solve those 2023 problems and double your profitability in 2024?
What could you do with 99% more money? Whether you dream for a vacation or reinvest in your business or give it to your favorite charity. The decision is yours. We are here to help you turn your dreams into reality.
The next thing we’ll talk about is the way to wealth formula by Brian Tracy that’s one of the business principles and we’ll go into 3 categories: customer formula, revenue formula, profit formula.
#1 Customer formula is basically saying that marketing strategies have certain leads – so Leads x Sales Conversion is equal to Customers. If you improve your leads and sales conversion 1% every month you can lead to significant improvement in your number of customers.
#2 Formula is the revenue formula. Customers x Avg Sales Size x Sales Frequency is equal to Revenue. If you change or improve your average sales size and sales frequency 1% every month, you can improve your revenues quite significantly.
#3 The third formula is the Profit Formula. Revenue – Cost of Goods Sold = Gross Profit – Operating Costs equals Net Profit. If you improve your Cost of Goods Sold and Operating Costs 1% every month you can make a significant change in your Net Profit.
So as you can see in the spreadsheet, we change 1% of these 6 levers: Leads, Avg Sales Size, Sales Conversion, Sales Frequency, Cost of Goods Sold, and the Operating Costs 1% every month – that led to 97% improvement in profit.
This is just one of the examples, we can work with you in your business 1:1 to see what would make sense there. Remember the consequence of no action. Your business can decline or you can arrive at a place where you did not hope for.
Do you want to stay with the same problems like in 2023 or do you want to change it and make a significant impact and double your profits in 2024? Do you want to make 99% more money? Double your profits so you can go to dream vacation, give it to your charity, or reinvest in your business?
Again, decision is yours. We are here to tailor our 30+ years proven strategies for your business success.
If you’re ready for doubling profitability in one year, please contact me for free consultation, thank you very much and have a good day.
