Create Sustainable Success with Business Growth Systems!
You need to create the right business process and business systems for your small business in order to stop your money leaks and increase profitability.
This 5 part series of quick 3 minutes videos will give you the most common areas in your business that you currently have hidden profits that you are missing out on.
Profit Leaks series Video #5:
If you like to read instead of watch, well, I’ve included the transcript below, so you can check that out too.
Don’t forget that I am running a free webinar full of strategies that you can take and use in your business right away, so sign up for that at http://www.BusinessProfitStrategies.com/Webinar12.
Profit Leak #5 Video Transcript
Hi Paul Monax The Business Leak Detector.
Here at Business Profit Strategies we help small business owners just like you to grow the profits in your business by finding the leaks in your business before they hemorrhage and in turn into an emergency.
The top five profit leaks in your business series continues today with Leak number five.
This is a 5 part series so if you’ve missed parts 1 through 4 they’re out here to you can check those out too, but these are the areas in your business that are most likely to contain hidden profits that you’re just missing out on.
These are the low hanging fruit areas in your business that you should check out and see if there’s something real quick easy simple that you can implement to grab a little bit more profit out your business.
Leak number 5 today is expenses.
What are the biggest expenses in your business?
For most businesses the biggest expenses are labor and taxes sometimes real estate is in the top few and if you sell products are your manufacture then raw materials are gonna be in the top as well.
So when was the last time you compared those prices that your spending on those things to market value?
Knowing where your business is leaking and tracking your numbers and metrics and knowing which numbers are important to your business in the first place not only greatly empowers your decision making but it helps you better predict how your business is gonna fair both in the short term and in the long term.
So now it’s time to take action right now today look at your business find a metric related to expenses that you think is most relevant and do some kinda calculation come up with the current state of where is your business today right at this moment. Then I want you to post that number were you are gonna see it.
Put today’s date and put it up by your computer monitor in your office in your car or your bathroom mirror whatever doesn’t matter and add a calendar entry for thirty days from now the rerun that number and see what kind of progress you’ve made.
How are you doing 30 days from now verses what your that number was in your business today?
And then celebrate that progress.
You’ve gotta make sure always celebrate when things are going better.
I really hope this lessens been helpful for you and provides you with at least 1 or 2 nuggets that you can take away and implement in your business right now today.
Now don’t forget to subscribe to my YouTube channel here for other tips tricks tactics and strategies for your business at YouTube.com/user/PaulMonax
and if you click on the link down below in the description right now you can head on over to my website at BusinessProfitStrategies.com/Webinar12
and you can sign up for another hour free strategies for your business.
Thanks a bunch and have a profitable day!