Boost your profit slide share edit
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This document discusses improving business strategy, leadership, and management. It emphasizes having a monthly and quarterly plan, knowing where to invest to improve processes, analyzing spending decisions, and training staff to treat business money as if it were their own. It also stresses the importance of linking performance and pay, and taking action to boost profit, such as by addressing issues with people, systems, processes, marketing and sales. The overall message is that businesses need to focus on profitability to access funding, reinvest in growth, and achieve their goals.
Boost your profit slide share edit
- 2. For Strategy, Leadership and Management From household names and £100M… To working with growing businesses #lovebusinesslovegrowth
- 3. Revenue Generating Managing Cost Of Sales Managing Processes and Systems Spending Decisions – Your Next Investments – Planning for Growth What we’ll cover today… #lovebusinesslovegrowth
- 4. The Leaky Bucket Underlying Issues: People/Systems/Process Strategy Wheel How GameChanger Works With Your Business What we’ll cover today… #lovebusinesslovegrowth
- 5. So, about Profit…. Are You a CHARITY or a BUSINESS? • Profit Improvement Plans are good practice • Profit determines – • Access to Funding • What you can reinvest to grow and achieve your secondary aims • It’s the “reward” of a good business • Lifetime profitability matters – overall, by product, by contract OTHERWISE WHY BOTHER? Definition of profit: The surplus remaining after total costs are deducted from total revenue. #lovebusinesslovegrowth
- 6. Revenue Generation The common mistakes I have seen…. • Invoicing • Pricing • Training • Processes • Management Reporting – Earned Vs Billed • Debt • Losing Clients • NOT Managing existing clients #lovebusinesslovegrowth
- 7. Revenue – The Numbers You must know: •Sales Figures and Trends •P&L •Cashflow #lovebusinesslovegrowth
- 8. Fixing the Sales Message I want to be my business to be known for….. • What are you EXPERT in? • What ORIGINALITY do you bring to projects? • What are the 3 best testimonials you have had? • What do others value about your solution/product/service? • Keep your Promises: Follow Up! #lovebusinesslovegrowth
- 9. Fixing the Sales Message : Marketing Messages Take time to explore what makes you unique and valuable And consider how you bring this into your brand…. ….Do your customers clearly understand your proposition? IF YOU DON’T KNOW – ASK!!! #lovebusinesslovegrowth
- 10. Maximising the Customer and Sales Experience • How many times do you ask for the SALE? 1. Client Meetings 2. Client TouchPoints 3. Upsell/Upgrade • People are Sensitive • Handle with Care • Show Appreciation • Be Respectful • Listen well and judge pace • Sales relationships require nurturing #lovebusinesslovegrowth
- 11. Managing the Cost of Sales The common mistakes…. Not measuring ROI and effectiveness of marketing spend No supplier reviews Skimping on Staff Development : Short term saving, but long term pain It’s needed for Efficiency & Service Improvement #lovebusinesslovegrowth
- 12. What is behind the problem?People • Time • Training • Discipline • Focus • No connection with pay and performance • People Management and Appraisals • Culture Systems • Necessary • Technology • Efficiency • Planned Spend • Fit for purpose? • Change Resistance Process • Clarity • Objectives • Measurement • Not End to End • Lack of Clear understanding #lovebusinesslovegrowth
- 14. For Strategy, Leadership and Management #lovebusinesslovegrowth
- 15. For Strategy, Leadership and Management 1. Have a monthly and quarterly plan. 2. Know what you will invest in to improve your People/Systems/Processes 3. Base your spending decisions on achieving measurable targets 4. Analyse the cost and benefit of decisions in your business 5. Train your staff to treat business money as if they were investing their own 6. Reward fairly – link performance and pay #lovebusinesslovegrowth
- 16. For Strategy, Leadership and Management ECONOMY can be The Silent Drain… on PROFIT#lovebusinesslovegrowth
- 17. For Strategy, Leadership and Management The question is….. CAN YOU AFFORD NOT TO TAKE ACTION?#lovebusinesslovegrowth
- 18. Reflection. What did you learn that you will take immediate action on in your business? What might you find challenging? What will have the biggest impact on your business? What 3 actions will you now take to #BOOSTYOURPROFIT? #lovebusinesslovegrowth
- 19. Thank you! Contact : Laura Morrison, 07583 008320 www.thegamechangerconsultancy.com BOOK a Chat – WWW.calendly.com/GameChanger E-mail: info@thegamechangerconsultancy.com FB: The GameChanger Consultancy FB : The Talented Woman – Tips for Success #lovebusinesslovegrowth