Digital Book: The Four Pillars
of Guaranteed Business Success
Chasing Profitless Turnover
Are your customers keeping you busy? If the answer is yes, that's good,
isn't it? Possibly.
For many businesses, seeing the cash come through the door is the most
important thing. It really doesn't matter where it comes from. But all too
often, the dollars that come in aren't paying the bills.
Many business owners do not understand
the cost of their products and services. They don't know what is the
profit margin for each service. This usually results in high margin
services subsidising, low or zero margin services.
But the funny thing is, the zero margin
services are the easiest to sell, so the owner puts all their effort and
resources in selling even more of these services, and slowly (or not
so slowly) sending themselves out of business.
The harder they work, the more
they lose, chasing profitless turnover.
Are you making a profit on everything you
sell? If you don't know, do the math. Is what you see what you
Chasing profitless turnover will send you
broke. If you are in this situation, you must take a hard look at your
marketing strategy. It's not sustainable. Delaying a decision is actually
making a decision. But probably not the one you want. But quick action can
lead you back into the black.
All you need to do now is to
Empower yourself and take
Have a great week!
Dr Greg Chapman - The Business Brain