Every business is made up of processes that convert inputs and outputs. If you want to improve your profits then it’s important you identify your key processes and do everything you can to improve them, so that you get more output from every input.
Key processes can include:
- How many sales leads (inputs) are converted to sales (outputs)
- How many first time customers (inputs) become repeat customers (outputs)
- How many customers (inputs) give you referrals (outputs)
- How many units of raw material (inputs) it takes to make a finished product (outputs)
There are loads more but you get the idea. So look closely at each process in your business, decide which are the really important ones and then work hard on coming up with ideas to improve them. And once you’ve identified these key drivers in your business then measure them, accurately and regularly, so you can see the effect of your improvements.
It’s all about focus really. Owners who get into the habit of regularly focusing on and adjusting the processes that really matter in their business invariably succeed, but in our experience, they’re few and far between. One very effective tool that we use to help our clients do this is the One Page Business Plan.
Every month we offer two Profit Builder sessions, worth £650 each, to existing and prospective clients on a first come first served basis. These sessions are completely free of charge, so if you really serious about growing your business get in touch today.