Identify vital aspects of your business
from Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
How to Apply This
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Focus and write down the core aspect of your business and ask yourself: ‘how can I get two times the results for half the effort?’
Pick one component first, and then do this for every other component that makes up your business. -
Identify your weakest clients.
Weak clients are those who don’t pay on time, always complain and demand a price reduction. -
Politely end relationships with weak clients.
Removing your unprofitable clients will reduce stress and increase profitability. Profit is about percentages, not a single number. -
Identify your strong clients.
Who are the clients you love working with, and who brings the most revenue? -
Focus and find more clients similar to your current strong clients.
Marketing will become automatic. You already know what’s your core business and what you can offer.
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