You too can increase profits without necessarily increasing sales!

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NewsletterThe “Profits Leak Detective Newsletter” offers regular tips and strategies to help you identify and plug those leaking profits.

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BONUS free report “7 Clues to a Profit Leak”, valued at $47.

How do you know that you should be looking for leaks?

Are there some clues or symptoms that are telltales saying that a
bit of drilling down into your business might pay some dividends?
Possible leaks could be anywhere.

This report provides 7 clues that should put you on alert for a profit leak.

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"Adam, over the past six years, I've had the pleasure of 'bumping into you' on at least three business and marketing related forums. Your contributionsto discussions have always been courteous, astute, incisive and practical,delivered with good humour, and based upon 'real-world' business experience. You are clearly an experienced business professional who actually knows what he is talking about. I wonder if your clients know what a gem they have in you? As one business professional to another, I salute you.

Good Wishes,
John Williamson - The Wealth Coach
www.thewealthcoach.com
www.retaildisplaysecrets.com

+++++++++++++++++++

I just LOVED "7 Clues to a Profits Leak".

Steven Walker - Profit Improvement Advisors
Calgary, Canada

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Thanks for the catch-up the other day. It's great to be working with a legend in the small business community.

AJ Kulatunga, BLKMGK ICT

Darwin, Australia

+++++++++++++++++++

The 7 Clues is a great.

What I like the most in the Seven Clues report is that it clearly explains that accounting is merely a subset of proper financial management and
that only the business owner can practise financial management. The accountant does the accounting, and in doing so supports the business owner's financial management. And the business owner uses the accountant's information, but relying on the accountant to do full-blown financial management is short-sighted.
The report nicely "grounds" an otherwise complex topic which many business owners are afraid of touching, so they often move ahead in blissful ignorance. The water hose and the soggy soil under the leak makes an excellent and easy-to-comprehend example, upon which the financial management concept is nicely built.

Tom "Bald Dog" Varjan, Organisational ProvocateurDynamic Innovations Squad
Professional Services Practice Development - Dynamic Innovations Squad      
Personal and Firm-Wide Performance Improvement for Management Consulting Firms
Practice Development Services for Management Consulting Firms

Vancouver, BC Canada

+++++++++++++++++++++++++++++
You have played a very important role in my development in business.

You were there with the right information at the right time, I thank you for that.
By adding the next level of systems, and marketing knowledge that you brought to the table we able to identify our objectives, acknowledge the gaps in our business and put in place the planning so as to achieve those objectives. Within 5 years we achieved 9 of our ten stated objectives.  In that same year we won the NT Telstra Small business of the year"

Greg Haigh
Director - Trade Group
Regional And Northern maintenance services
RANms

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Recent newsletters include:

  • How big is your profit gap?
  • How discounting destroyed value
  • Benchmarking for best practice
  • From all customers to some customers
  • How to take the guesswork out of growth
  • Should your USP be based on logic or emotion?
  • How to triple your quotation success rate
  • How to dramatically improve your quotations
  • How to make more effective decisions?
  • How to develop your USP
  • Do you want to make better planning choices?
  • Are youmaking these mistakes in planning?
  • How to use SWOT properly
  • Does your sales conversation balance the scales of justice?
  • The perils of profitless cash flow!
  • So what is more important, cash flow or profit?
  • Are you getting value from your pricing?
  • Do you report to yourself monthly?
  • Follow the money trail!
  • Performance also counts!
  • Get more bang for your buck!
  • Without measurement there can be no improvement!
  • Where would your business be without customers?
  • Using your monthly report to improve your profits
  • Just who is your customer?
  • And what do you know about your customer?
  • How branding can increase your profits!
  • Can branding make you more money?
  • How to balance the value equation
  • Tilting the balance in your favour
  • How to pin the tail on the donkey
  • Are you groping in the dark with your real cost of labour
  • Mastering core marketing principles
  • Building a 5P marketing plan
  • Profit leaking processes
  • Should you be trying to increase or decrease cash flow
  • At times it is folly to hasten
  • 5 steps to create your future
  • What will be the X-Factor in 2009
  • Lies, damn lies & statistics
  • How to use a squad profit leak detectives
  • Confidence leads to action
  • Increase sales - so easy to say
  • So you want to know how to increase sales
  • Is selling a necessary evil?

Are you haring about with your business? Print E-mail

Or do you have a clear business focus?

Have you ever seen a hare run? The hare's ears go up, and it's off, gambolling along full of the joys of life.  Then it stops, squats, maybe it's taking breath.  Ears up and it's away again, ..... in a totally different direction.  Stop, squat and then off again, at yet another tangent.

Just where is it going? And will it ever get there?  Maybe it's happy just to bound along, care free, why worry?  One thing is for sure, the hare is not exactly focussed on going anywhere!  But is your business?   Is the progress of your business like that of the hare, bounding around in different directions, perhaps in response to the latest perceived opportunity, but not really going anywhere?

If you are not focussed on what you are trying to achieve with your business, then it is not likely to be going anywhere in particular.

The dictionary defines focus as "the condition in which an image is sharp, a state or condition permitting clear perception or understanding".

That kind of makes sense doesn't it?  If you have a ‘clear perception or understanding" of what you are trying to achieve in your business, then there is a fair chance that you will achieve it.  It becomes a self-fulfilling objective.  When you know your direction you will find that the decisions you make will be made with that objective in mind, even if they seem dreams to others.  Because they are focussed decisions they will have a collective impact, which unfocussed, generalised decisions can never have.

Having a clear focus means not only knowing what you want to achieve with your business, but how you are going to do so.  And with focus comes energy.  Energy is hard to summons when you feel you are going nowhere.

You know what happens if you never chase your dreams? Nothing really. You just go on with life living with day-to-day survival.  And if you are simply surviving day-to-day you are not likely to be taking the actions that give you direction and move you forward again.

To keep moving forward focus needs to be found in all areas of your business. If you know your end intention then that intention will also be found in each functional area of your business.  This is the ‘how you are going to achieve the objective' bit.

For example, in July 2002, Steve Ballmer reorganized Microsoft into seven business units focused on market segments, not products. Ballmer stated, "We were pretty product-centric in our marketing, which meant we weren't always delivering a higher-level perspective on the value of technology in key areas." The company embarked on a 10-year initiative to reinvent its worldwide marketing team in order to "institute a consistent customer value proposition across the organization." As a result the company renewed its focus on problems their customers need to solve, not products the company wants to sell.

There is a very clear marketing message in that quote; focussing externally on customers, and not internally on products gives a completely different perspective to the business and how it operates.  Focus marketing on the marketplace. The marketplace is made up of people: customers and prospects.  It is not addressed by focussing on the product.

There are consequences of not staying focused. If you are not focussed it is very easy to be diverted into non-essential, time wasting activities that have nothing at all to do with where you are taking your business.  As Real Estate guru John McGrath says, ‘Most business people would be better off if they said ‘no' to about 90% of the things they are asked to do, and stayed focused on 10% of tasks, and clients, where they can add and extract most value'. That 90% leads you into hare-like activity.

Focus helps you decide which markets you will operate in, how much growth you should plan for and how you will compete to achieve that growth.  The whole point of the "Vision and Mission statements" beloved of business plans is that they help keep you on track and underpin your overall business strategy.

Your vision should be both a source of Inspiration and a guide to decision making. As a focus it is powerful because it sets your business direction.

A ‘mission statement' provides a clear definition of the business you are in, and keeps decision makers focussing their decisions and actions primarily on scope of activities that fall within the scope of the business.  Like blinkers on a horse, the mission keeps you focussed on the track ahead, and not the grazing on the paddock next door.

Defining what business an organisation is really in is a composite of three factors:

  • Customer Groups - who is being satisfied; i.e; your target market (please, not ‘everyone'!)
  • Customer Needs - what is problem is being solved for these customers
  • Technologies and processes performed - how the problems are being satisfied.

If you can clearly answer these questions then you indeed have focus.  The danger is in being too broad. The broader you make this, the less focus you will have for thought and action.  It has been said that you need to "narrow your focus to broaden your appeal".  After all you can't be expert in solving all problems for everyone.

Some companies are naturally reluctant to focus their target audience or service offerings, fearing that it will limit their revenues.  Marketing experts say that the opposite is true. "There seems to be an almost religious belief that the wider net catches more customers, in spite of many examples to the contrary," said marketing gurus Al Ries and Jack Trout in their book The 22 Immutable Laws of Marketing.

So is there clarity and definition in your business direction, clarity and definition which extends down through your business strategies leading to self-fulfilling achievement?

Or are you darting about like a mad March hare, heading to one target then another, but going nowhere?

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