Profit

What’s keeping you from growing your business to the size and profitability you want? Has your growth been slowed by things that keep dogging you? How can you smash through those barriers and move to the next level?

Here’s what I hear all the time from owners:

— You’re a solopreneur, and you want to grow beyond what you can handle by yourself.entrepreneurial vision

— You have a handful of employees, but everybody’s reporting to you, driving you to a frazzle.

— You’ve got managers, but you’re still running day-to-day operations, and you’d love to hand this off to a trusted top manager, to free you up to focus on growth—and a vacation!

If you’re nodding your head yes to any of these, check out our free webinar, Smash Through the Top 10 Barriers to Growth, on June 4.

I’m doing it jointly with two other small business experts: attorney Nancy Lewellen and productivity consultant Rosie Aiello.

Here are the details.On that page, scroll down to see the 10 barriers we will cover.

I will focus on three areas:

1. Management style for growth. Make sure you’re not the bottleneck to your company’s growth.

2. Profitability. See how you stack up against the 12 Principles of Profitability.

3. Marketing & Sales. Make sure your Magic Chain of Marketing has no missing links.

This free webinar will be an exciting tune-up for you, to help you quickly discover ways you can overcome your own growth barriers.

Check it out and sign up now while you’re thinking about it.

Call me at 415-491-1896 if you want to find out if it would be right for you.

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Question from James McErlean on LinkedIn

My response: Great question! Sustainability means using a resource so that it lasts and renews, doesn’t get used up, and doesn’t have a negative impact on its environment.

For a business, this would mean that it is self-sustaining and self-renewing.

It has to make a profit.

It has to provide support for its owners and employees, and contribute to their long-term well-being.

It must generate a surplus to carry it through tough times and to provide a fund for growth.

It must provide a benefit to its community of customers; otherwise it cannot operate profitably.

It must innovate (i.e., “evolve”) in order to stay competitive and keep attracting its customers.

It must be a vehicle for the creative energies of its owners and other key people, so that it will retain their interest.

A business—especially a small business—is a reflection of the skills and passions of the entrepreneur. It is his/her vehicle to provide value to the community of customers. The more it thrives, the more people are benefitted—customers and employees and other stakeholders.

In this way, a successful business does more than just sustain itself and the resources it draws upon. It becomes an increasing source of wealth. A community of such businesses builds a strong multiplier effect throughout the community and economy.

 

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How Do You Set Prices for Your Products and Services?

August 15, 2011

Question from Alicia Terry on Linked In. She also asked, “What is your biggest challenge in setting your price?” Set prices using two different methods: A. What the market will let you charge, e.g., competitors B. What costs you must cover, plus a profit margin If A > B, charge A If B > A, […]

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