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The Small Business Tune Up: Tweaking your growth points to massively increase profits and cash flow Posted on October 9, 2018
More importantly do you know how to influence and control them all? We call this a small business tune up and it’s about tuning up your business in the right areas to boost profit and cash flow.
As the only accounting firm on the Central Coast holding weekly workshops on business improvement strategies for small business, we see a lot of businesses.
One of the questions I often pose is, “Who here knows all the growth points in their business?”
Whilst some business owners know a few, not all of them usually know them all.
And there is a perfectly ok reason for that: most business owners are good at what they do, but need improvement in selling what they do.
A good example is that a plumber is usually good at plumbing, a solicitor is good at law, and a steel fabricator is good at steel fabrication.
But when I ask the room, “Who here is really good at selling and knowing their growth points?” – Most hands stay down.
This is where knowing your growth points and putting a plan together to improve in all 7 of them can massively grow your business.
One of these growth points is the average $ of each sale you make.
What is your average sale and what are you doing to grow the value of it?
How do you calculate its value?
How do you monitor it on a daily basis and what strategies have you learnt that influence it?
Take Woolworths for example. Woolworths has reporting systems in place to calculate the average $ sale across each of its locations every day, then works with the managers on finding better ways to help customers have a better experience.
We have over 100 strategies on ways to increase this growth point, but more importantly, to show you how to measure and manage it.
To attend one of our workshops and find out what the other 6 growth points are, PRE-REGISTER to one of our award winning 10X workshops.