Michael Stanson Will Increase Your Bottom Line
The most dangerous phrase in business is, "We've always done it this way."
Add value to your business modelIf you want to increase your sales and profit margins; add value to your business model; differentiating your business from your competition's businesses. You need to undertake a competitive analysis to discover where you can be different by adding value to your business.
How to generate leads – increasing salesThe most common cause of a business failure is a lack of sales. Your business loses a percentage of clients every year to the sale of a client’s business, replacement of a C-level executive, bankruptcy or dissatisfaction. Replacing lost clients can be a challenge.
Your fixed costs are business killersThe fastest way you can increase profitability is you need to constantly review and eliminate unnecessary costs. You should employ an expert to review costs because they have no attachments to sacred cost cows.
You need to know where your sweet spot isCreate a budget that targets a desired profit or Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) profit? This is the sweet spot for your business, where overhead and revenues generate the maximum profit. Expanding past the sweet spot requires additional overhead to service increased sales and can create cash flow difficulties, thus placing your business at risk.
Be technology-savvyYour business models will suffer if your competitor embraces technology that reduces their overhead, allowing them to deliver a better product for less money. Embracing technology, as Netflix did; altering their business model from snail mailing DVDs to customers, to streaming entertainment to their customer online – differentiated Netflix's business model from the cable giants, who failed to stay on top of rapidity changing technology. Today, by being knowledgeable about technology – your business can be like David – and slay Goliath.
Do you have a depreciation savings account?The federal government offers you this generous non-cash tax deduction because they want you to save money – so you can invest in new equipment, software, and technology and stay in business. Your competitors may have a depreciation saving account, invest in practical technology advancements, and leave your business model in the dust.
How to Increase your Bottom Line
Have your ever performed a "Strength, Weakness, Opportunity & Threat" assessment on your company's business model – to improve your bottom line?
A "Strength, Weakness, Opportunity and Threat" assessment evaluates your firms:
- Financial Reporting System – to make certain you have the necessary, real time reports, allowing you to make factual decisions – to control or cut costs, required to consistently achieve a pre-determined, net operating profit – improving your cash flow.
- Operations – analyze the opportunities available, to increase your operational efficiency.
- Sales & Marketing – to profitably grow your firm's revenues; analyze your geographic marketplace's prospective, high margin, new business customer opportunities, and identify the threats to your existing customer retention plan.
A "Strength, Weakness, Opportunity and Threat" assessment pinpoints your organization's blind spots that, if left undiscovered – could be detrimental to your business.
If I am unable to document a 10 times or greater increase in your bottom line than my $1,800 dollar fee, you will receive for FREE – your firm's written evaluation "Strength, Weakness, Opportunity & Threat" report.
Contact me for a no-obligation, exploratory meeting.
Michael Stanson
Senior Business Analyst
www.michaelstanson.com
Telephone or text – 519 – 807 – 0556
