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Business Development Strategies - How to Enjoy an Instant 50%-200% Net Profit Increase
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Transcript of Business Development Strategies - How to Enjoy an Instant 50%-200% Net Profit Increase
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You’re seeing the 6th Red HOT Marketing Strategy to Rocket
Your Profits
Tim Stokes
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This video is on…How to Enjoy an Instant 50% to
200% Net Profit Increase!
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What’s more important, to increase your turnover or profit?
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Probably every business owner would say profit, but their
actions don’t agree
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Let’s do a simple test to see what I mean
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Which of these businesses would you prefer to own…
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Annual Sales - $1,000,000No. of staff - 10
Net Profit - $50,000
Annual Sales - $500,000No. of staff 5
Net Profit $75,000
Business 1
Business 2
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In other words, would you like to have 5 less staff to manage, and
have $25,000 more Profit?
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I‘ll go over the answers soon, but there’s one more question I want to ask you, before I make a very
powerful point
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If your Annual Sales were $1,000,000 & Net Profit was
$50,000, how would you feel if Sales reduced to $800,000, but
your Net Profit went up to $100,000?
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This is an extremely important and relevant question!
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If your answer before was Business 2, that you’d prefer the $500,000 Annual Sales business,
with $25,000 more Profit and with 5 less staff…
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There’s an easy way to achieve a similar outcome in your business, if your business is in a service or
manufacturing industry, with Annual Sales of $500,000 or more.
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This strategy only really works for a service or manufacturing
industry business, with Annual Sales of $500,000 or more.
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You can still use the strategy I’m going to show you if your
business is smaller, but there are other variables to consider.
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The strategy to create much BIGGER Profits is…
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Raise your prices by 10%!
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95% of business owners worry about the downside, a “potential”
drop of Sales, instead of understanding the up side – the
massive profit increase!
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To take the emotion out of it, let’s look at the facts…
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If Annual Sales are $1,000,000 & Net Profit $50,000, when you
raise prices by 10%, the Annual Sales will also increase by 10%
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That’s because you have the same number of customers
spending 10% more
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That’s assuming you don’t lose any customers, and we’ll look at
that scenario soon
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The 10% price rise means there’s a $100,000 increase in Sales but that increase is 100% PROFIT -
because there’s no cost involved!
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Add that $100,000 to the initial profit of $50,000 & its now
tripled! Its increased to $150,000!
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If you lost 20% of the Annual Sales after the price rise, the new yearly figure would be $900,000
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The original Net Profit was $50,000 on $1,000,000, or 5%.
With the reduced Annual Sales it would be 5% of $900,000 or
$45,000
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That’s $145,000 Net Profit based on the original $50,00, (with the $100,000 increase from the price
rise)
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Its still nearly triple the profit, if we assume there is a 20% drop
in sales from the price rise.
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What if there’s no loss of sales?
For over 20 years I’ve measured before and after price rises of
10% to 40%, to get the FACTS!
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You’d be shocked to hear the FACTS of measuring with 500+
businesses, before & after a price rise
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90% rarely lost any customers, & not 1 service or manufacturing
business lost any profit
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I’m going to talk more about completely avoiding all risk of a
profit loss after raising your prices in video 7
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The majority of business owners don’t understand business
numbers, & are seriously missing out on HUGE Profit benefits
because of it
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If you’d like to turn ignorance into profit, to understand business &
numbers more, you can learn more for free in an upcoming free
online training meeting
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For a limited time I’m giving away a copy of my book that will
explain more than this video…
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Grab it with Your Name & EmailYou’ll instantly get my book, plus be on
the ‘Invitation List’ to my next Profit Strategies online training meeting.
Act Now, grab the book & start increasing your profits today!