How to Improve Your Profits

04/01/2024 11 min
How to Improve Your Profits

Listen "How to Improve Your Profits"

Episode Synopsis

• Cut your expenses: virtual assistants, subscription software, subcontracting (even in the Philippines).
• Move work to the client.
• Focus on advisory work, not project work.
• Increase number of sales.
• Increase amount of sales.
• Increase duration of client relationships.
• Increase solicited referrals.
• Create community evangelism.
• Produce new products and services for existing clients.
• Reduce marketing expenses.
• Reduce time waste (internet).
• Stop overdelivering/providing what wasn’t requested.
• Track your time in a journal.
• Get paid in advance.
• Never tolerate delayed payments.
• Focus on total days to cash.
• List and evaluate all possible expenses (e.g., office rent at home, medical).

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