This is number two on my top ten ways to increase your business profits, sales, and cash flow. But I find it is almost always the hardest thing for any business owner to accomplish. Even when a business owner is highly motivated to increase sales and profits, they never seem to get around to it. Why?
Well, the reason I hear most is that they are so busy running their business and putting out fires that they never seem to get around to it. I also run into this. I start off the day with great plans for getting things done, and by the end of the day, nothing has happened due to client and employee interruptions.
But that is the easy answer. The truth is we all like doing things we do well. And many of us are very good at making the product and satisfying the customer. So that’s where we spend all our time.
That is why I almost always tell a business owner that they are 100% responsible for keeping their business from growing! Please don’t think I am telling you not to produce a quality product. What I’m saying is that this may not be the best use of your time. If you had the money you could hire someone to do the technical work that is required to produce the end product for the customer.
But as Dan Kennedy has said countless times, every business is in the business of getting and keeping as many profitable customers as possible! That is where the majority of business owner’s time should be concentrated on. That means I am not really in the CPA business – I am in the business of getting more profitable, paying customers for my CPA business. The same applies to any business. Once you start looking at your business that way, you will quickly change how you allocate your time.
What I am leading to is the following: The business owner’s time is the most valuable resource in the business! You can buy everything else except more hours in the day.