The 5 Part Profit Framework
Today, let’s get clear on the “why”…and I’ll give you a cool tool to improve your profits…sound good?
You likely went into business for several reasons, and toward the top of the list is the autonomy and freedom that entrepreneurship can provide.
To get that autonomy and freedom, you must PROFITABLY serve your clients or customers (and produce a healthy flow of excess cash).
There are only five ways you can increase your profits:
- Leads: Generate more, higher quality leads.
- Conversions: Turn more of those leads into customers.
- Transactions: Make more and better offers so your customers purchase more often.
- Prices: Add more value so you can easily justify a higher price.
- Profits: Become more efficient and create more value at a lower cost.
Everything you do in your business to increase profits fits into one of these categories.
We call it the 5-part profit framework.
So, in the future, as we share strategies for improving profit and flow in your business, you’ll know that the “profit” is in the context of this framework, and I’ll point out exactly how the A.I. we’re discussing improves performance in one or more of the five parts of the framework.
We’ll cover “flow” in future blogs, so stay tuned. Lots more to come.
For now, you can see the 5-part profit framework in action and download a simple spreadsheet you can use to plug in your numbers to see what’s possible for you and your business here.
Until next time!