“Everywhere I turn there’s advice on making 2022 a better year. But I’m not sure how to choose the real game changer. What do you think?” This question from CEOs keeps popping up during our phone calls. What do you do when similar thoughts start going through your mind? Do you cast about for the … Continue reading What’s Your Game Changer for Growth in 2022?
The training company CEO challenged me: “We’re already doing everything we can for our clients. How can we make more money unless we raise our prices?” With a few careful questions I helped her arrive at her “aha” moment. The barrier, she realized, was the word “doing.” They were doing it all—by which she meant … Continue reading We’re Already Doing Everything! How Do We Make More Money?
Hourly rates and other time based pricing practices give your firm confidence. They’re simple and straightforward. and once rates are set, every client is charged those rates. You have no worries! You: Don’t have to know too much about the client’s needs, wants, or desires. They told you they’re looking for X services. You tell … Continue reading Hmmm…Could Confidence Limit Your Profits?
“Every month I keep my fingers crossed when I look at the profits on our Profit & Loss statement” the Owner of a web design agency told me. “Why?” I asked. “Because it’s always disappointing. Our team has amazing creativity and skills and profits never seems to keep up with that. The more they know, … Continue reading Are Your Profits Depressed? Here’s How to Tell
Profits are the end goal of every company. It’s seems straightforward–if we just focus on profits, we’ll succeed beyond our wildest dreams! We all know from experience that it’s not so easy. I find that the best way to profits is to understand their meaning, not just their dollar value. Profits have different meanings within … Continue reading What Visions of Profit Dance in Your Head?
Once you’ve committed to implementing Value Based Pricing (see Step 1 COMMIT), it’s time to get started. Successfully implementing Value Based Pricing requires phasing it in. I never recommend trying to flip a switch. Step 2 PREPARE helps you begin the phase-in. No one succeeds without confidence and that only comes from intense preparation. The … Continue reading Every Accomplishment Begins with the Decision to Act
No serious business owner or executive opposes increasing profits. People do argue about how to generate the profits that create free cash flow. Many an owner or executive has lamented their difficulties earning a profit from every sale. Whether it’s customer demands, competitive pressure, or a sub-optimal sales process, profits can be elusive. Today we … Continue reading You’re Not Opposed to Increasing Profits, Are you?
A financial advisor wrote on LinkedIn: “There are no short cuts. Success requires discipline, patience, and hard work.” I replied that I feel frustrated by experts who promote “hacks”—short cuts that are supposed to give you great results. Who needs discipline, patience, and hard work? Try a hack instead! And I asked, “Who would like … Continue reading There are No Shortcuts to Any Place Worth Going
Is it possible your company is creating cash flow problems because you follow norms promoted by your professional, technical or scientific services industry? And do you sometimes think you should do things differently, but are afraid to do them–well, because “everyone does it this way?” Do you create negative cash flow by: Offering discounts right … Continue reading Are Industry Norms Hurting Cash Flow?
How does your company balance on the two-edged sword of lots of demand (great!) and lots of competition (not so great)? Companies that provide professional, scientific, and technical services have lots of company, as these three sectors include 4,207,592 firms with 100 or fewer employees! It’s not enough for your company to have great skill, … Continue reading More Demand Creates More Competition-Are You Optimized?