The number one driver of business value, plus of course the way you get paid while owning it, is the profit that it generates.
Rolls easy off the tongue to say “just increase your profitability” but if it was that easy, everybody would be doing it.
And of course a lot of owners say “It doesn’t work that way in my niche”.
That’s probably true for most of the generic, quick-buck training programs so many people offer you. But don’t let that be your excuse.
- What is realistic for your niche?
- What are other businesses like yours able to do?
- How does your current profitability compare with typical benchmarks in your sector?
Pick one metric to start with (gross margin, net margin, or cash flow).
Now, how do you suppose the better businesses just like yours are able to make their numbers work? Maybe you can do that too. Identify one concrete improvement you can implement in the next 30 days.
Set up a strategy call if you want to discuss a quick reality-check benchmark for your niche and situation.
Let’s find out just how not-different your business is and how to move towards best-in-class.
