10 Actions to Increase Your Business Profitability

10 Actions to Increase Your Business Profitability photo

SHOW NOTES

I’m sharing actionable steps to increase your profitability!

I’ve worked with so many successful Rockstar agents and entrepreneurs, and invested in startups, that I know a good deal about what it takes to grow business revenue… and I’m revealing it all on today’s episode of the Tom Ferry Podcast Experience.

Now, before we begin, I want you to really listen on the 10 steps that I share, and from there I want you to choose 2 or 3 that can really make a big difference in your business. 

This episode is all about helping you become rich in your finances and being able to manage it in a smart way. So, what better way to start than by strategizing how you can increase your sales price, creating a budget or actually reading up on your tax laws!

So, what are you going to do? I’m giving you all the tools for you to start this smart path of managing your business finance! Listen to today’s episode and share with me what actions you’ll be implementing for this new year!

In this episode we talk about…

0:41 – Tom shares 10 ideas to increase your profitability 

1:34 – Set up a goal and make a plan

2:07 – You need to set 3 important goals

3:12 – “Motive matters!”

3:28 – What are you willing to sacrifice to obtain your goal?

4:29 – Who else can support you?

5:48 – The second step is creating a budget 

9:51 – If you want a higher profit, you need to create a monthly Profit and Loss Meeting 

12:24 – When was the last time you asked to review everything you spend money on?

16:20 – Step 5 is measure the marketing investment that you make!

19:50 – What is your most profitable transaction and how can you scale it dramatically?

26:00 – You need to know all your tax laws! 

29:26 – Raise your sales price!

31:07 – Negotiate, negotiate, NEGOTIATE! 

34:40 – Last step is: What additional revenue sources can you possibly add?

36:18 – What are you going to do?

 

 

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