1. 75% Temporary Wage Subsidy during COVID-19
  2. Free Cashflow Stress Test
  3. Free Survival Planning Session
  4. 7 Steps to Pivot Your Marketing
  5. SWOT Examination and Opportunity Planning Session
  6. BDC Small Business Loan
  7. What is the Temporary Wage Subsidy for Employers?
  8. EWSP (Employment Work Sharing Program)
  9. Business Oxygen
  10. How to Close More Sales
  11. Why Connecting with the Tough Decision Makers is Worth Your Time
  12. Having A Bad Day? Find Something Beautiful
  13. What are you worth?
  14. 10 Ways to Foster a Culture of Innovation and Creativity
  15. What are you Measuring in Your Business
  16. 7 Ways to Dramatically Grow Your Business
  17. Company Culture – How to Cultivate the Right Kind for Your Business
  18. How to Keep Your Employees Happy at Work
  19. Four Reasons to Use B2B Email Marketing
  20. Qualities of Good Leaders
  21. How Stress Can Affect Your Job Performance
  22. Making a Customer Relation Management (CRM) System Work For You
  23. Do You Have The Symptoms Of Affluenza?
  24. Culture Of Leadership
  25. A Business Coach Engages in Provocative Conversations
  26. Are You A Carrot, An Egg, Or A Coffee Bean?
  27. Measure Your Way to Success by Using KPI’s
  28. Ensure a Good Return on Your Investment
  29. A Business Coach; A Clients Journey to Self Discovery
  30. Is Your Business Growing or Dying
  31. Breakeven Analysis
  32. Keeping Score in a Winning Business
  33. Exercise wisely…
  34. Roots
  35. Muck & Money
  36. Who said that?
  37. Why are owls so wise?
  38. Business Success: Eight Fundamentals
  39. Uncomfortable Conversations
  40. Are you working hard or just working long hours?
  41. Investing Time on the Right Tasks
  42. COACHING — Not just for GOLF!
  43. Don’t Think Outside the Box – Redefine It!
  44. Ten Reasons People Resist Change
  45. The Art of Delegating
  46. How to Make Your Business Writing Twice as Good
  47. Increase Profits by “Pruning” Your Business
  48. Features versus Benefits
  49. Are you lucky? Or just on your game?
  50. 10 Elements of a World-Class Company
  51. How fresh are your marketing strategies?
  52. Business: The $20,000 Phone Call
  53. Business – Game Changer
  54. Are you still learning?
  55. Riding a Dead Horse
  56. Business & Baseball
Friday, April 10, 2020
  1. 75% Temporary Wage Subsidy during COVID-19
  2. Free Cashflow Stress Test
  3. Free Survival Planning Session
  4. 7 Steps to Pivot Your Marketing
  5. SWOT Examination and Opportunity Planning Session
  6. BDC Small Business Loan
  7. What is the Temporary Wage Subsidy for Employers?
  8. EWSP (Employment Work Sharing Program)
  9. Business Oxygen
  10. How to Close More Sales
  11. Why Connecting with the Tough Decision Makers is Worth Your Time
  12. Having A Bad Day? Find Something Beautiful
  13. What are you worth?
  14. 10 Ways to Foster a Culture of Innovation and Creativity
  15. What are you Measuring in Your Business
  16. 7 Ways to Dramatically Grow Your Business
  17. Company Culture – How to Cultivate the Right Kind for Your Business
  18. How to Keep Your Employees Happy at Work
  19. Four Reasons to Use B2B Email Marketing
  20. Qualities of Good Leaders
  21. How Stress Can Affect Your Job Performance
  22. Making a Customer Relation Management (CRM) System Work For You
  23. Do You Have The Symptoms Of Affluenza?
  24. Culture Of Leadership
  25. A Business Coach Engages in Provocative Conversations
  26. Are You A Carrot, An Egg, Or A Coffee Bean?
  27. Measure Your Way to Success by Using KPI’s
  28. Ensure a Good Return on Your Investment
  29. A Business Coach; A Clients Journey to Self Discovery
  30. Is Your Business Growing or Dying
  31. Breakeven Analysis
  32. Keeping Score in a Winning Business
  33. Exercise wisely…
  34. Roots
  35. Muck & Money
  36. Who said that?
  37. Why are owls so wise?
  38. Business Success: Eight Fundamentals
  39. Uncomfortable Conversations
  40. Are you working hard or just working long hours?
  41. Investing Time on the Right Tasks
  42. COACHING — Not just for GOLF!
  43. Don’t Think Outside the Box – Redefine It!
  44. Ten Reasons People Resist Change
  45. The Art of Delegating
  46. How to Make Your Business Writing Twice as Good
  47. Increase Profits by “Pruning” Your Business
  48. Features versus Benefits
  49. Are you lucky? Or just on your game?
  50. 10 Elements of a World-Class Company
  51. How fresh are your marketing strategies?
  52. Business: The $20,000 Phone Call
  53. Business – Game Changer
  54. Are you still learning?
  55. Riding a Dead Horse
  56. Business & Baseball

When you hear people talking about sales goals, they’re almost always referring to gross sales, i.e., “I want to do $1,000,000 in sales. But what is more important — gross sales or net profits?

Increasing net profits, the money you keep after paying expenses, should always be the goal. Doubling sales does not necessarily mean doubling profits. In many cases, quite the opposite happens. Sales may increase, but profits lag far behind.

Pruning your business is a better idea. Stop calling on the unprofitable, time-consuming accounts.

Consider the situation a business owner we’ll call John finds himself in:

John owns a manufacturing rep company that does nearly $6 million in total sales a year. The manufacturers pay his company commissions of 30 percent, so his organization earns $1,800,000. It costs him $1,500,000 to pay his 50 employees and other expenses, so John takes home about $300,000.

He has nearly 600 accounts, but 200 don’t do much business with him. They do, however, take up a lot of the sales and service department’s time, effort and attention. After analyzing his business, John discovers that these 200 accounts spent only $500,000 with him but took up over one-third of his company’s available time.

He concludes that if he stops calling on these small (bottom third) accounts, the following would happen:

  •  His sales would drop to $5.5 million
  • The organization would earn $1,700,000
  • His employee count and total costs could be reduced by one-third, to $1,000,000, resulting in a savings of $500,000
  • His take-home income would increase to $700,000, an increase of $400,000

Target Your “A-class” Customers

After John prunes his business, he focuses on improving the quality of service his A-class clients receive.  This is easy to do because his employees are no longer wasting their time servicing the unprofitable accounts.

Because his best customers are very happy, they became raving fans who refer lots of other A-class businesses to John’s company.

The attitude of his entire organization changes. His sales people start making more money, and everybody has more fun because they are spending their time, energy, and efforts serving great customers.

And with their new-found free time, they are able to look for new opportunities and clients with the same profiles as their best customers.

John is now setting his sights on making $8 million and then $10 million in sales a year by doing business with only the best clients, and he figures he’s going to have much higher profit margins.

Grow Your Business

Here are three things you can do to make more money:

1. Prune your customer base and stop calling on those who take up lots of your time but don’t do much business with you.

2. Give your best customers outrageous levels of attention and service. Undercommit. Overdeliver.

3. Create a profile of your ideal client, then find clients who match it.

You’ll have more fun, and make lots more money.


Kent Boehm 
Business & Leadership Coach 
403.690.8363 or kent@ninebusinessgroup.ca
onbusinesscoaching.com
businesscoachingcalgary.com

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