Increasing profits within your business
Unless you create a non-profit, the basic purpose of a business is to make money. There are those business owners who fear the phrase “I like to make money” and others who love it. All business owners should look at it as the more money you earn, the higher reward you are receiving for the time, energy, and brain power you put into your business.
Whether your business is based on passion or personal wealth creation, all business owners should charge a fee that is relative to the value they produce. With an abundance of six-figure jobs available to people, business owners should be making a minimum of two times their salary potential, (over $200,000). If you are not, then one of three things has to be true:
- you are accepting a lower pay for a better work life balance (good for you if that is your choice!);
- your business is in a building stage, or
- you simply aren’t earning what you should.
In any case, what you earn is NOT as important as what you are trading your time for. If you are working 80 hours a week, 51 weeks out of the year and earning $100,000, then we need to talk. For most people, this is no way to live, and will quickly lead to burnout. However, if you are working 20 hours a week, 40 weeks out of the year and earning $100,000, you might not be doing that bad, assuming you having enough money to live and are enjoying your time off.
It isn’t money itself that is important. It is the acknowledgment of what you are trading your time for. Our very top priority is working with you to help you achieve the maximum value out of the time you are giving to your business.
Some businesses produce profit relatively easily, while others seem to struggle every year. With our understanding of taxes, insurance, and business, we regularly develop new strategies for businesses to decrease costs and increase revenues. Clients continually see new ways of looking at their business and find new opportunities to increase their bottom line when they work with us.
If you are looking to increase your profits, the size of your company or just get things back on track, give us a call! We offer a one-hour complimentary consultation.
I have looked through my companies books (financials) and have done everything I can think of to make my company more profitable. How can you help?
By the very nature of this question, you aren’t happy with your current level of profit. Another way of saying this is, “I hope that there is more that can be done to get profit out of my business, but I don’t want to pay someone to figure this out. I should know how to figure this out myself.”
While this isn’t a typical statement from business owners, it is often the undertone during our early discussions. Let’s be straight with each other, egos are great for sales, but they aren’t good if you want to manage a successful business. After all, what is a business owner if not a manager of many departments? Even if your company has three people in it, you still have to manage all of the different departments including Sales, Marketing, Finance, Operations and Human Resources etc). The idea that someone can be an expert in each area is… well crazy. There is simply too much to know!
Honest communication like this is the cornerstone of our business. If we aren’t honest with our clients, they receive little value from working with us. And as a manager, you have to be ready and willing to have experts help you build your business into the best business possible. If we start with the notion that we know it all, then we will fail to see what we don’t know and we will be destined to move at the same pace and repeat the same mistakes. It is not always easy to ask for help, but then starting a business isn’t an easy undertaking! Take the first step and find out how we can be your partner in building the business you have always envisioned.
Does every client that hires you make more money?
No. The clients who don’t earn more money or maximize their current profits are most often the clients who hired us to tell them that everything they are doing is right. And when we give them a new way of looking at their business, they want to continue down their same path despite the fact they hired us to help them forge a new path. Allowing someone to come into your company can create a mix of emotions from trepidation and vulnerability to excitement, joy and even pain. It’s not easy to change. We are confident that if you are ready to maximize your income and profits, you will be happy you took that first step. Call us today to setup your first meeting.
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