Three Ridiculously Simple Ways to Increase Your Profit

Profit

I’ve long said that business success is NOT EASY, but it CAN BE and SHOULD BE simple.  In fact, business coaches, gurus and consultants hoping to sell you solutions  are — in my humble opinion — the primary reason business has been largely publicized and rumored to be hard, expensive, and complicated.   But let’s not get off topic.  If you’d like to (dramatically) simplify profit, keep reading this post.

Here are 3 ridiculously simple ways to increase your own business profits:

1)  Raise Your Prices.

Stay with me.  I’ve been in business for myself a LONG TIME, have run different businesses and consulted within countless industries. Here’s what I can say with absolute confidence:  The price your market is willing to pay is more elastic than you think.  I know you may think this isn’t true for you.  But, stay with me so I can BEG you to test this theory with absolutely NO RISK to your current income.  Create a “premium offer.”  Something at a much higher price point than what you’re currently offering.  Load it with value.  And then offer it to your existing client / prospect base.  A certain portion of buyers will ALWAYS buy a premium offer.  Allow this little price experiment to give you the confidence to re-package and re-price your current offers.

After all, you can’t afford to be the CHEAPEST of your competitors.  And there’s ZERO value to being “second cheapest.” So you may as well up those prices for more profit. TEST higher prices and then email me to tell me I was right. Lol

2) Create More Referrals

Referrals are something that most people simply hope for, but far too few businesses orchestrate, plan for and build systems around.  You can read more about the problem with how most business owners go after referrals here, but for now, just know that referrals can and should be the backbone of your income / profit increasing strategy. Referrals come to your without a “break even” cost of commercials, direct mail, etc.  Referrals — typically — arrive already pre-sold on your work and their need for it.  So, generating more business from referrals is a smart bet.

Not sure what to do to bring in more referrals? Start here:

  • Who are your TOP REFERRAL SOURCES?  Be sure you know who they are.  You’ll want to weave them into the fabric of your firm, practice or business. Consider private dinners, surprise gifts, or special VIP treatment.
  • How do you REWARD referrals? Be creative. Do NOT stay stuck in the mode of “I’ll give you a $5 gift card for each referral.” That’s lazy.  People refer because they want to make a difference in the lives of those they are referring.  And because they believe in you and your work. Keep this in mind.

3) Bring Existing Clients / Patients Back for More.

According to Richelle Shaw, author of Million Dollar Equation and one of the NICEST women you’ll ever want to meet, your business can make more money in these three ways:  you can get more clients, have your clients pay more money per transaction or have them come back more frequently.  This last “ridiculously simple” strategy prompts you to do the latter.  Most businesses leave it up to YOU to decide if / when to come back and visit them.   No. No. No.  Script their return date.  

One of my clients owns a massage therapy studio. Profits went way up when therapists began writing down — almost like a prescription — a return date for the client.  Don’t leave it up to THEM to decide when they may want a massage, tell them when to return and why.   Give them a reason to remember and return to you.  TELL them what to do next.

I hope this helps, y’all. If you have a minute, go public – and leave a comment with the action YOU’RE willing to take to make more profit.  Have a question, leave it in the comments below. =)  I promise to answer and respond to each comment / question.

Michelle PippinMichelle Pippin — Main Street America’s business strategist —  is the undisputed authority on creating clients for your small business. Ruthlessly committed to creating unreasonable results for experts and small business owners all over the country, she founded www.womenwhowow.com,  one of the fastest growing business development organizations for women, and has been featured on national and local media outlets giving real world, right now solutions for business owners creating their own success.

Michelle is often described by her clients as relentless, grass-roots,  passionate, profit-driven… and sometimes, even worse!   But, if your business is pregnant with potential, and you are ready to (FINALLY!) give birth to consistent profit that fully leverages your passion and expertise, you’ve got to speak to Michelle.  visit her at  www.bmichellepippin.com.

Just Between Friends is actively seeking franchisees across the United States and Canada. To find out more about joining the JBF team, click here.

image © Stepan Popov

Kids + Coaching = Empowered Kids

Kids + Coaching = Empowered Kids

Do you love following a proven system, and achieving great results? Yes! Do you love knowing you are doing the best job that you can as a parent, teacher or caregiver? Totally! The neat thing about caring for kids is you don’t need to know everything. You simply need to know where to find the answers you seek. This leads me to the topic of this article. Have you ever heard of coaching? I am not talking about coaching a basketball, football or hockey team. What I am referring to is a different kind of coaching. This definition is taken from the International Coaching Federation, (ICF) Official Website under FAQ’s, (frequently asked questions). The ICF is the support network of coaches. Each professional coach has their own niche or specialty: be it coaching kids or coaching adults. In this article we are discussing coaching kids.

What is professional coaching?

“ICF defines coaching as: partnering with clients in a thought-provoking and creative process, that inspires them to maximize their personal and professional potential. This is particularly important in today’s uncertain and complex environment. Coaches honor the client as the expert in his, or her life and work. They believe every client is creative, resourceful and whole. Standing on this foundation, the coach’s responsibility is to:

  • Discover, clarify, and align with what the client wants to achieve
  • Encourage client self-discovery
  • Elicit client-generated solutions and strategies
  • Hold the client responsible and accountable

This process helps clients dramatically improve their outlook on work and life, while improving their leadership skills and unlocking their potential.”

Have you ever considered having a coach, whose specialty is children, talk and coach your child? Did you even know this was available to you?

Let’s say for example, that your child is struggling with the effects of being bullied. This is only one example of any number of issues that kids have to deal with. You feel he, or she needs someone to help guide them to the answers that will make them feel better. A children’s coach would definitely fit the bill! Now let’s look at it from the flip side. Imagine if you are a children’s coach looking for a system that may enable you to help your client reach his, or her goal and excel. Would having a system in place make your job easier? Absolutely! Then you are in for a treat.

Allow me to introduce Renaye Thornborrow. Her business is Adventures in Wisdom, Life Coaching for Kids using Fun Short Stories! Here is what she has to say about her, Adventures in Wisdom:

“Adventures in Wisdom, is leading a worldwide movement to inspire and empower kids to believe in themselves and their dreams, through life coaching! Our certified WISDOM CoachesTM, use our story-based coaching curriculum to help kids, (ages 6-12) develop strong self-esteem and self- confidence, build resilience, think for themselves, make good decisions, stand up to peer pressure, to go for their dreams and make them happen. We believe that kids are capable of creating extraordinary lives, when given the mindset, tools and support to own their magnificence.

Wow! Your job, as a children’s coach, just got a whole lot easier. Think of the time you have saved by using this system. Think about the benefits your clients will feel! Are you smiling? I should think so! Think of how much fun they will have! Make sure you click on the link above to receive a sample story! Following a proven system that allows you to save time, effort and enable the kids you work with to soar and reach their goals, is priceless. After all, aren’t the kids you coach worth it? One hundred per cent!

Wishing you great success in all that you do!

Kathleen BoucherKathleen Boucher is an award winning author of, A Simple Idea to Empower Kids: based on the power of love, choice and belief and A Simple Idea to Empower Kids: Teens Edition. Boucher’s passion is writing and empowering kids. Website: http://www.greatkids.me

Photo credit: Cristiano de Jesus / Foter / CC BY-NC

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What a $29 Salad Can Teach You About Making More Money

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Visit the Great Wolf Lodge!

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