Tag: profit margins
The 5 Challenges of Being a Female Business Owner
Can women business owners expect to generate the same or higher profit as male owners? How has COVID impacted business outcomes?
Let’s take a look at some facts about why female business owners face unique challenges, along with practical ways to offer support.
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My 2020 Business Year In Review (a Year Late)
It has taken me 14 months to finally take stock of what took place in my business. As with many owners, 2020 did not deliver the outcomes I was expecting.
The idea of re-living those disappointments felt so painful… that I decided to delay the Year In Review process until now.
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How to Analyze Your Customer Profit Contribution
Have you ever thought about the amount of profit you’re getting from each of your customers?
There’s a simple way to find this out: it’s called the Customer Profit Contribution calculation.
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Which 64 Business Industries are Growing Despite the Pandemic
Customer habits are changing as a result of the COVID pandemic. In order to remain competitive, nearly every business owner has had to adapt their delivery, communication method, and product offering.
This change is obvious for industries such as food service, hair salons, nail care, and other in-person businesses where profit margins have been hit especially hard… resulting in the closure of 200,000 businesses (and counting). However, some areas of the market are actually enjoying tremendous profitability.
Want to know what they are?
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12 False Promises MLM Companies Often Make
Multi-Level Marketing (MLM) companies use a variety of tricks designed to lure unsuspecting people into “get rich quick” schemes. Want to know which ones are the most common?
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Doing a Post-Flight Check of Your Business
The pilot skillfully descends, hits the tarmac smoothly, and taxis to the hangar. What happens after the plane lands?
Rest & relaxation would be nice, but pilots always do a post-flight inspection of their aircraft. Not only do they make sure that everything is in working order, they also inspect every system for signs of possible malfunctions that could affect the next flight.
Business owners can avoid potential loss or harm by conducting both a Pre-Flight Check of events or projects yet to occur, as well as a Post-Flight Check. Let’s take a look at what you can do once a project ends.
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Completing a Pre-Flight Check of Your Business
An airplane pilot has the responsibility to conduct safety inspections—both before they take off and after they land. Diligent maintenance checks can help to avoid things going wrong: equipment failure, accident, injury, or a catastrophic crash.
Before launching a project or initiative, risk intelligent business owners can identify potential vulnerabilities by conducting a Pre-Flight Check. This evaluation can reveal valuable information that is both quantitative (numbers) and qualitative (experiences and sensations).
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Interpreting Numbers and Experiences [Podcast]
What’s the difference between quantitative data (numbers) and qualitative data (experiences & emotions)?
Keep reading to find out why these are both essential parts of overcoming barriers as an owner, and examples of where to look for vulnerabilities in your business.
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Ideas for Adapting Your Business [Podcast]
If you are facing a crossroads, this could be a great opportunity to create a better version of your business. This episode provides 9 ways you can adapt to market changes, including how to evaluate both emotions and useful data for making risk intelligent decisions.
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