As you know business management and success isn't solely about your industry knowledge. 

Every business owner needs to learn how to run a business successfully and profitably and unfortunately the low level of profitability and cash go hand in hand to show the need for a better understanding of business management. 

Management is about growing a business by increasing sales but also about increasing net profit margins, or increasing net profits by increasing sales, without lowering net profit margins. 

Smart management is about putting systems in place so your business can operate independently of you. Afterall, didn't you think about having both time and money as a business owner where weren't the only one working hard in your business?

Management success comes from having a "margin mindset"

Think of a business as being a bit like this bucket...

online business course

Imagine the size of the blue bucket represents the annual turnover/revenue.

The size of the gold bucket reflects the net profit of the business. The relationship of sizes of both buckets is the Net Profit Margin.

The water entering the top of the bucket is like new leads/inquiries coming into the business. As a result of the activities of the business, there is "profit leakage". Profits are leaking and is seen by low net profit margins, a very common occurence in all types of businesses.

Management is about truly working smarter, to see where the profit leaks and profit opportunities are.

Look at what is often referred to as the best company in the world...

McDonald's.

There are a lot of reasons why its considered the best.

One is, the business owner doesn't need to be a great technician - to be a chef or cook.

The owners aren't buying a job, they are buying passive income generating assets. The owners don't have to work hard, because their business does. How many businesses can operate super profitably without the owner working in it at all?

Their SYSTEMS on; how to hire and train staff, the systems and measuring are what make McDonald's great.

Most important of all, and the true test of management expertise, is in this case their stores operate with very high net profit margins.

Net profit margin levels are strong evidence of how great the business management skills are in any business. Revenue increase can be achieved with duplication, but profit margin comes from innovation (improvement) and that takes a great leader as well as a great manager.

Business management (as seen with McDonalds) is about refining "3 Essential Skills"...

  1. People
  2. Measuring
  3. Systems

Combining all three is when magic starts to happen! And you can learn and master these 3 subjects in our ultimate online business course. 

Each one of these is important, but there's no synergy created by being great at one. All three are needed for Management Mastery.

 

People Skills in management to increase profits are...

  1. Teaching (communicating effectively so you don't need to repeat yourself)
  2. Leadership (influencing staff to follow willingly and leading each person their ideal way)
  3. Influence (persuading staff to do what they may not want to do)
  4. Selling (at full prices with higher than industry averages)
  5. Recruitment (being able to accurately and rapidly identify teachable candidates, before they are hired)
  6. Attitude determination (being certain about knowing poor attitude from great staff, before hiring them and after)
  7. Aptitude determination (understanding which employees are great at some things and not others)
  8. Delegating (without constantly reminding people to do what you ask)

Measuring Skills in management to increase profits are...

  1. Leads by lead sources
  2. Marketing acquisition costs
  3. Conversion rates
  4. Total sales value each week
  5. What marketing works and what doesn't
  6. Production value each week
  7. Production gross margins each week (with employee costs included)
  8. Cash-flow each week
  9. ROI from salespeople and production employees
  10. Pricing of services with accurate gross margins (including employees as a cost of sale)

System Skills to increase your business profits for free are...

  1. Creating them (and employees actually understand them)
  2. Identifying processes, policies and procedures 
  3. Recruitment (to hire great attitude employees)
  4. Sales (written incoming calls, outbound calls and face to face)
  5. Marketing (ready to use emails, letters, flyers, brochures, logo, branding, imagery etc.)
  6. Production (technical work)
  7. Admin
  8. Leadership development
  9. Team building
  10. Finance
  11. Induction training

Put all the above skills together in any business and the profits can literally EXPLODE! Adding $300,000 to a business of $1,000,000 to $5,000,000 or more is happening more and more for our clients by introducing these skills.

Some have increased net profit by over $300,000 with less staff.

The key elements of effective business management are best described by what you're aiming to achieve with business management and that includes these outcomes...

  • Less dependence on the business owner so they can enjoy time off, or working at all becomes optional
  • Higher net profit margins, to afford to pay extra staff to free up the business owner
  • Surplus cash in the bank, from higher margins, to create a buffer to ride out any storm in the industry or from external factors
  • Strong company positioning in a competitive environment
  • Rapid growth or expansion
  • High ROI on capital for the founder of the business
  • High salary for the business owner
  • Peace of mind and a stress free-life for the business owner

All of the above points are achieved with our Academy of Business Mastery online business course - the smart training choice.

If you'd like to enjoy the outcomes, od freeing up some or all of your time, seeing your sales and profits increase by hundreds of thousands of dollars or even multiple million a year, fantastic because they are commonly achieved by our attendees of the Academy both during and after the training.

The training only requires you to have three years of business experience (preferably, or at least two), plus at least two employees. 

The other necessary prerequisite is to be open minded to new ideas and a willingness to embrace change. Our principles, strategies, training and systems are very different to what you've seen. Because they are so relevant and useful to your own current situation and business, you may feel like there's so much to change. That's perfectly normal!

The good news is, we've made is super simple to apply our content, because you're not left to create all your own solutions, strategies, measuring tools or systems. You get 90% of what you need to set your business up to work hard, without you.

If you like the sound of all the above outcomes and having your business look after you, so you're in control, not being controlled, then why not apply to attend our training? You'll be amazed at what you learn and experience.

Put our information to the test with our free content - books, 7 business growth strategies on VIDEOS and online training webinars (invitations and dates are only sent to subscribers). 

 

 

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