There are essentially 3 direct ways to increase PROFITS in any given business. -- 1. Increase the flow of new business. This is not just done through one type of marketing. It includes digital, face to face, word of mouth, print promotion, education etc....... -- This also includes your onboarding and sales conversion protocols. It does us no good to create new lead opportunities if we do not process, onboard and convert a high percentage of these opportunities. -- 2. Learn to Retain your your current business longer or increase the lifetime value of each customer. -- If we don't learn to increase retention it will require us to revisit #1 strategy more often meaning you have to start the new lead journey all over again which includes additional costs of money, time and energy. Taking steps to add value of service or products will lead to increasing the value of a longer tenured customer as well. 3. Lastly, the fastest way to increase profits in a business actually does not start with the top line (1. Marketing) -- it's actually found in Lowering Your Overhead. Knowing your numbers, managing expenses and setting guidleines Impacts profits faster than any other strategy. Consistently reviewing stats of business performance, educating yourself on cost factors, tax strategies etc. can pay Major Dividends. Also notice how numbers 1. and 2. both can contribute to lowering your overhead. --- Being more proficient with leads acquired along with consistently onboarding better and retaining customers longer ultimately lowers the costs of acquisition --- Stay Consistent In Refining All 3!

Checkout a Fantastic New Episode in the Leadership Classroom where Dr Rick Marks and I unpack critical keys that a leader must develop. We both will look forward to hearing your feedback -- In Addition - Let the CSP team know what other topics you would like to hear more about in the future

Hey CSP Family --- Heads up that I just published a Brand New lesson in the CSP Shorts Grouping titled "The Devil In The Doubts" Let me know your thoughts --- Let's also take this opportunity to Welcome our Newest CSP Member to the Family --- Jonalyn Orvis

When and why to hire. Just about halfway through this episode.And the why question has been proposed. Giving me some pretty serious thought as to how I run my business even today, before I hire employees. The systems that I'm building as to why I’mbuilding them and how they will play into my business five years down the road. Specifically, the difference between working for myself and owning a business and to what my end goal is. My question for you all is: when you started your business did you want to work for yourself or did you want to run a business? Did that why follow you, or change and adapt as the rubber hit the road?

I was just reading a Facebook post this morning from Robert Kiyosaki about this topic. A great reminder and concept expander.