Want to increase your profits, or give yourself a $20,000 to $50,000 pay rise, or how about having more time to be with your family and children?
All of these are not only possible but very achievable with the 7 Steps to Business Freedom, because it’s already happening for other former hard working business owners.
The “7 Steps” are a refined, thoroughly proven step by step process to follow to develop your better business for management – even to the point where you can stop working in your business completely! The results confirm this with our clients some of which live interstate to where their business operates and for years have enjoyed a passive income from their business. All this is possible thanks to the 7 Steps.
This article describes the incredible power of following each of the 7 Steps, why they liberate profits in any business without spending a cent more on advertising, equipment or expenses and why they are in the order they are.
The 7 Steps to Business Freedom are:
1. Building Your Vision
2. Team Building & Recruitment
3. The Magic of Measuring
4. Planning to Achieve Your Goals
5. Systems for Profit Growth
6. Secrets of Sales & Marketing
7. Management the Final Phase
Business owners typically want more customers to grow their business, but when asked how many more customer do they want they can rarely answer accurately because they don’t know how many customers they have now in a week.
Customers come about through lead generation and conversion rates. You generate leads from advertising, or a shop premise in retail and those leads are then converted into paying customers. There is therefore a conversion rate from the number of inquiries to the number of paying customers. To increase customers you can either increase inquiries or increase the conversion rate.
You can’t improve something if you don’t know what it is so measuring of inquiries and conversion rate is very important before increasing them.
Measuring is more important than sales and marketing as the first step of business development for these reasons and more…
* conversion rates may be much lower than assumed, so advertising would be a waste of money
* there can be some products/services being sold at a loss, or very low margins, so increasing sales of these would be a poor management decision
* improving what is working with inquiry generation is always a better option than a new lead generation strategy
* measuring (using Business Freedom’s tools) increases profits without spending more money, which gives more for marketing testing instead of risking hard to find cash
* measuring reveals the optimal strategies for sales and marketing instead of guessing what might work
* measuring reveals strategies that increase profits that are not related to sales and marketing
As you can see measuring (Step 3) is more important to implement before sales and marketing (Step 6).
Measuring reveals the strategies to put together a business growth plan. A business growth plan is a priority list of strategies to first of all increase net profit margins, then turnover secondly.The plan is the tool to achieve your business and personal goals.
Before the plan is implemented systems are needed. The plan’s strategies (when selected from Business Freedom’s comprehensive list) can increase net profit margin and turnover, requiring more staff with an increase of customers. This means before the plan is implemented systems need to be put in place.
Systems include position descriptions for the next person to be hired, as identified by quantifying the supply (production) and demand (sales/marketing) sides of the business. Quantifying by measuring reveals how many hours of employee time in sales and production are needed for a percentage increase of turnover. Using this technique you can identify the next role to be filled from growing the business. Systems are created for this next role to be filled in anticipation of growth in the business.
In summary before beginning with Step 6 – Sales & Marketing, Step 3 – measuring, 4 – planning and 5 – systems are needed.
Measuring is step 3 because measuring is a whole team activity not just a business owner activity so the staff need to be motivated and encouraged to be involve in measuring, which means team building needs to be implemented. The best way to motivate the team is to motivate you the business owner by clarifying your vision. A wise man once said there’s no such thing as an unmotivated person, just a person who doesn’t have a clear and compelling vision of what they want to achieve that creates passion and enthusiasm. Once the business owner is encouraged and taught to have a clear vision in writing of what they want to achieve both personally and with their business its time to share that enthusiasm with the team.
This then begins the 7 Steps to Business Freedom.
With all 6 Steps in place the final one is management. The other steps are preludes to management so these create options for the owner to move into management full time to further develop the business or for the owner to step out of operating the business and replace themselves with a general manager. There are 7 ways to exit a business (explained in Business Freedom Workshop 7) to give the business owner leveraged income (working a few days a week) or a passive income by not working in the business at all. This is a reality as the 7 Steps to Business Freedom allow the business to operate smoothly without the owner while giving them peace of mind its running profitably without risk because the weekly KPI’s prove it to be so.
The 7 Steps to Business Freedom is the most dynamically refined and proven system of developing a business in the world. The results over many years confirm the merit of this statement. By learning about the 7 Steps you will see remarkable changes occurring in your business…
Your profits will increase, without getting more customers, you’ll become happier because your team will share the load and take more responsibility off your shoulders. You’ll have more time and be able to get back control of your business so you can grow it, or step out of it and do whatever you want to do with your life!
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