Turning Ten Dollars into Hundreds of Thousands

Jun 12, 2017 | Anne's Blog, Profit

What’s one way to keep more of the money you’re making that you could implement in your business today? It doesn’t have to be earth shatteringly big and daunting. Small works. In fact small works really well because sustained small changes grow to big changes in less time than you think.

For example, suppose you could shave $10 off the cost of your service offering. How? Well, places to look would be in any materials that you might provide, in process improvements — can you shrink the client intake process to save labor costs? Use a less expensive provider for transcribing your coaching calls? Use a less expensive platform for delivering you calls and webinars and classes? $10. Just start with $10.

OK, we found our $10 in cost savings. So what. Well, here’s the deal. How many clients are you working with each month for whom that $10 cost savings applies each and every month? Twenty? Forty? One hundred? Let’s assume it’s twenty seven. What does that mean at the end of the year? It means……..$10 times 27 clients times 12 months equals $3,240… that you have $3,240 more profit at the end of the year. And each and every year thereafter as long as the savings remains in place. That from just one little change to what’s happening in your business. Now imagine making ten more changes of the same magnitude. If you’re thinking, eh $3,240 isn’t worth it, how about $32,400 for the year? Or $324,000 for ten years? Does that attract your attention?

If it doesn’t then I don’t know what will.

And by the way, that’s looking at just one little aspect of the cost side of your business. The revenue side can easily tip the scales a whole lot more.

Look around your company. Think. As my dad likes to say, “use global vision” (drives me nuts when he says it, but it really does apply here). How can you make your business more cost friendly to putting money in your pocket? What’s possible? What can you implement today?

If you think your vision is blurry and a fresh set of eyes would help, let’s schedule a time to talk. I can assure you, the probability of there being opportunity to increase the profit of your business is effectively 100%. That’s not a boast, it’s reality. So why not figure out how to put as much more in your pocket as possible?

OK, time to go find your $10.