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How To Achieve Massive Business Growth

What is your ultimate business plan? Do you want to increase sales, improve profit, grow your business and create wealth? Let me outline how you might go about achieving massive growth in your business – no matter what business you are in.

Twenty five years as a business advisor across most industry groups has shown me that while most owners are fantastic at running their day to day business operations, they never spend enough time working on improving the performance of their business.

Sadly, most business owners I have worked with are just so busy working to keep the wheels turning that they never make the money they deserve. Many struggle to draw commercial wages for their efforts, many never reach their profit potential, and most never sell their business for what it could really be worth.

My question to you is – are you making enough money right now? Do you even know how much profit your business is capable of making? Perhaps even more importantly, do you have a plan of how to grow your business profit and business value into the future?

I think you will be amazed at how easy it is to achieve massive business growth if you simply focus on what is important. In fact, let me cut to the chase and show you how easy it can be – let me show you an example of a business that grew its profit by 75% after making 5% improvements in each of its 5 key profit drivers.

Before implementing a business improvement plan, this manufacturing business had 800 customers purchasing from them 6 times a year and spending on average $500 each time. This gave the business a sales turnover of $2,400,000. With a gross margin of 50%, their gross profit was $1,200,000. After paying $800,000 in overheads, their net profit was $400,000.

By understanding the 5 underlying profit drivers in this business, this business introduced various strategies aimed at improving the results of each profit driver by at least 5%:

They increased the number of customers buying from them from 800 to 840 – a 5% increase;

They increased the number of times the customers purchased goods from them from 6 times a year to an average of 6.3 times a year – a 5% increase;

They increased the average amount of money each customer spent during their sales visits from $500 to $525 – a 5% increase;

They increased the average gross profit margin on each sale from 50% to 52.5% – an increase of 5%, and,

They decreased overheads from $800,000 to $760,000 – a decrease of 5%.

As a result of these improvements turnover increased from $2.4M to $2.8M and the underlying business profit increased from $400,000 to nearly $700,000 – that is an increase of $300,000 or 75%!

Even more amazing was that the value of the business (based on a sale multiple of 3 times net profit) also increased by 75% – increasing from $1.2M to a massive $2.1M!

Can you imagine what your business would look like if you were able to increase your profits by 75% year on year? Can you imagine how much better your family life would be with that result?

Now I know what you are probably saying to yourself just now – great story, but I could never achieve that result in my business. Well I am here to say that the above 5 step growth strategy will definitely work in your business.

I know it will work for you because I have seen this 5 step growth model used successfully on all sorts of businesses, in all kinds of industries and through all economic cycles over the past 25 years as a business advisor in Australia.

If you apply the 5 step system I guarantee that you will achieve massive growth in your business. Of course not everyone will achieve a 75% improvement in their profit result – some will achieve less, and some will achieve much, much more!

The results you can achieve in your business will depend on your particular profit drivers, the opportunities to improve these drivers, and most importantly, your ability and commitment to implement the 5 step system in your business.

Create Your Facebook Business Page With 5 Easy Suggestions

My soon to be husband thinks that Facebook is the devil out to ruin people’s lives, because a past flame of his used it as an opportunity to cheat on him. He still does not have an account to this day, even though he has moved on to a great relationship with me (smile). Well, this article is not about my man’s disastrous past love life.

So, are you wondering how Facebook is ruining your business?

Here is the answer: Facebook is ruining the businesses that have not created a customized business page to promote their products or services.

The answer to this question is actually geared more so toward entrepreneurs who currently do not have a Facebook Business page to promote their business, products, or services.

If this is you, keep reading. You will be introduced to five easy suggestions for creating a fun, but professional Facebook Business page.

If you do have a business page on Facebook, then you may already be aware of the positive impact this powerful free marketing tool has had on your business. You have increased the effectiveness of building a list of prospects and keeping your existing clients by tenfold! And it is an excellent resource to market your business, products, or services.

Build Your Facebook Business Page with These 5 Easy Suggestions

1. Creating Your Customized Page.

There is no limit to the number of pages you can create. This is your opportunity to let the world know about who you are, what you do, and how they can benefit from you.

Don’t be afraid to show your personality.

If you stay casual, then you will attract more people and make satisfying connections.

On a professional level, it is good share your company mission, your target market, services or products, company history, and your business email address.

2. Maximize your Facebook personal profile with your customized business page.

I am sure you want to get a lot of exposure for your business. A simple method to get a lot of business exposure is by adding your customized business page to your Facebook personal profile page.

When I added my business page to my personal profile, I experienced positive results almost immediately!

3. Showcase your favorite personal and business photos.

Just because you are creating a professional page does not mean it can not be fun and interesting. Photos are one of the most viewed content on the Internet. Along with your professional photos, share snapshots of your vacations, family events, experiences, or something humorous.

Your contacts will know more about your life and favored interests. They will be able to connect with you on a deeper level, which all boils down to building trust and eventually long term business relationships.

4. Make it a goal to post on Facebook at least twice per day.

Facebook is the perfect place to connect with people anywhere in the world. There are an abundance of people to build relationships with your personal profile page and your customized business page.

I strongly advise you NOT to constantly pitch your business, products, or services.

Mix it up a little bit by sharing your personal life, current goals, special interests, etc. Otherwise, people will think you are spamming them with your products or services.

That is a sure way to lose an audience.

5. Add your Facebook business page “LIKE” button to your blog and web pages.

It is important to create and use your Facebook business page “LIKE” button or box on all pages of your websites and blogs. It does not take long to create the plug in on the Facebook Developers page.

I have been adding a like button to all pages on my websites and even in my email correspondence. The best thing to do is use the your business page “LIKE” button on every piece of marketing material you distribute online and offline.

Now that you have some great suggestions for creating a great Facebook business page, it is important for you not to fall into the category of people who spam their contacts with their products and services.

There are many business owners that misuse and abuse Facebook. It is so annoying and makes me furious when people do that. Plus, it is no way to build a successful business.

It is necessary for your business to have a Facebook business page no matter how long you have been in business. The sooner you have one, the better.

Once you have it up and running, provide valuable information about the things you are knowledgeable in. The success of your business depends on the content provided on your Facebook business page.

Sell Your Business by Eliminating Fear and Uncertainty

Selling a business is a complex and time consuming task. Owners can often spend up to two years planning and preparing their exit, with it eventually taking precedence over everything, including running the business. With the worsening economy and dearth of commercial credit, vendors face an even tougher task when selling their business. It’s now a buyers’ market and for a business to be sold it needs to be priced appropriately, possess solid financials and good growth prospects. If your business fits this criteria then it can be sold, as long as you are able to overcome the largest obstacle, fear and uncertainty among prospective buyers.

Buying a business is a life changing event which can bring great rewards or years of frustration. Buyers, especially those purchasing a business for the first time are very cautious and apprehensive about a deal of this magnitude. If you are unable to remove a buyers’ natural apprehension, selling your business, especially in these economic times, will be an uphill struggle. The most effective method of removing fear among prospective buyers is to demonstrate that your business is a solid investment.

Many prospective buyers believe that small businesses are over dependent on the original owners and fear that once a business changes hands, it will lose much of its original value and end up underperforming. The fear of the business underperforming is the greatest hurdle a vendor can face when selling their business.

How can you overcome fear in the mind of a buyer?

The key to overcoming this fear is to demonstrate that your business is healthy and will continue to perform once the new owner takes charge. Vendors should understand that buyers are risking a large percentage of their net worth when acquiring a business, which is why they don’t dive in head first. Prospective buyers need to be absolutely sure that the business they are purchasing will continue to perform and will meet and possibly exceed their expectations.

A business that does not rely on the owner for its day to day tasks, is equipped with a capable management team that will continue to work with the new owner and a regularly full order book, is a great investment prospect. Buyers are confident about purchasing a business with such characteristics, if you can build this into your company, you stand a good chance of selling it for a premium.

Your company’s financial statements should be up to date and professionally audited with limited adjustments for non-business expenditure. Financial statements with several adjustments for non-discretionary expenses are taken with a pinch of salt by buyers, so to instil maximum confidence it is important that the audited accounts are a true reflection of the business’ performance. Buyers rely heavily on a company’s financial accounts when determining whether the business is a good investment, therefore up to date and well prepared accounts are vital for reassuring prospective buyers.

Demonstrating that your business is capable of generating revenue without you will also remove uncertainty in the mind of a prospective buyer. Buyers are willing to purchase businesses that are not reliant on the outgoing owner for sales or generating new business. If possible build in marketing and sales teams before offering your business for sale as this will attract a higher calibre of buyer.

The key to selling your business is to reduce the fear and increase the confidence in prospective buyers. Through planning and good preparation, you can convert a buyer’s natural apprehension into confidence and this can lead to you selling your business for a premium

If you are interested in buying or selling a business visit today.