Discover the Fortune within These 5 Simple Business Maxims

As a business owner/sales professional you want to increase sales and revenue. Is that what you really want? No, what you really want is increased net profits.

Watch your profit margins. Many a small business owner/sales professional has sold themselves into financial troubles because they mistakenly didn't watch their profit margins. If your cost is $10 and you sell the item or service for $100 you have a 90% profit margin, however, if your cost increases to $15 and you sell for $115 you’ve now reduced your profit margin to 85%. As you continue to spend as though your profit margins were 90% you’re actually losing 5% from every sale, and it doesn’t take long before you’re in a cash flow crunch.

A confused buyer will not buy. The number one reason buyers back away without buying isn’t because your prices are too high. They don’t buy because you haven’t helped them develop a highly motivating reason to buy leaving them confused about why they should buy, and so they don’t.

Cast a laser beam not a wide net. When you have a solution that exactly fits a specific group of people and you focus your marketing efforts on that group of people you’ll have several good things happen: you’ll earn the business of a high percentage of those people, they’ll tell others like themselves about you, and you’ll become known among people like that as the go to business. Plus it costs you far less to send the right message to the right people in the right way than it does sending out a generic message hoping to snag some people’s attention.

Volume is less important than quality. It’s easier to increase net profits when you attract the right quality prospects than it is to attract large quantities of suspects. It’s easier to increase the volume of highly qualified prospects when you focus on the right message in the right venues to obtain their attention.

Decrease the hole size in your net. When you get the attention of the right prospects you want to do everything in your power to keep those quality prospects in your net. You do that by giving them what they want first and helping them to become ready buyers.

Increasing revenue isn’t the outcome you want. You want increased net profits. You get net profits when you work on the entire process not just one aspect leaving gaps in the rest.

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