Dare to be different and get to know your numbers
One of the easiest ways to increase your business profits is to stop discounting. When I say "easy", many of us in fact find it difficult to break this habit. We have some worm in our heads that thinks no-one will pay the price we set for our product or service or that, because the customer has already spent a certain amount with us, they ought to receive a discount.
A good way I've found of encouraging my business owner clients to stop discounting immediately is to show them a table I have that shows you how much extra revenue you'd have to make to make up for the impact of that discounting on your sales. For example, did you know that if your profit margin is 40% and you discount by 10%, you'd have to increase your revenue by 33% to be at the same place you would have been if you hadn't offered the discount?
Seeing the impact in hard numbers is usually all it takes to get people to change this habit.
This is just one of hundreds of golden nuggets you'll receive when you come along to my Dare to be Different workshop which I'm presenting on 30th April in Scarborough and on 17th May in York.
We'll have a look at other numbers too - often an area where business owners bury their heads in the sand. How do you make decisions or know what actions to take in your business if you don't have your numbers as a guide?
But it's not just about the numbers, and if you have a growth mindset you'll very likely want to find out more.
Why not dare to be different and book yourself a place?
If you want more than your business is bringing you right now, want to work less hours and have more fun in your life, and you've been in business more than 2 years, it’s important that you get a place at this event. There are 2 dates available in April and in May. Click your preferred date to register your place.
I look forward to seeing you there. Click the date to register your place. There's never been a more crucial time for you to be both different and better than your competitors.