This is the week to grow! Unless your business is currently in a massive profit based growth spurt, it’s time for a radical change. Action Now is the slogan you need to adopt for the rest of this year. Your focus has to be on bottom line growth. I am challenging all my clients to exceed their profit expectation for the remainder of this year.
The following is a brief outline that I will be working on with my clients during the next month:
- Take a look at your budget income forecast from today until the end of the year.
- If you are not one of my clients and don’t have a written income projection for the balance of this year do it now. Take your current operating expenses, including all salaries and add 20% to that figure. This will represent your current income budget for the remainder of this year.
- The two figures ( # 1 & # 2) represent hour income forecast for the balance of 2012.
Your challenge is to beat the estimate by 30%.
How to start:
- Make a list of at least 10 things you can do to increase your income this year.
- Prioritize this list with number one being that which will bring in the greatest amount of revenue for the balance of this year.
- Take the top four ideas and develop an “action business plan” for each one. Included in this plan should be an accountability factor for each step of the plan.
- Start this process today and end your week with a review of your accomplishments and what has to be done to improve each action item.
- Keep a written record of your progress.
As we draw close to the 4th quarter of the year many businesses start an “unconscious” slow down with the anticipation that the beginning of the New Year is the best time to make “the big push”. With Thanksgiving and Christmas just around the corner, there is a temptation to focus on those special days instead of growing your business.
In my experience this 4th quarter action plan not only produces great results but sets the stage for a better year to come.
The thing always happens that you really believe in; and the belief in a thing makes it happen.
Frank Lloyd Wright
Nick J. Petra CFP Growing your business is our only business©
Contact us at www.strategicduck.com to help design and implement a 4th quarter profit plan for you.