32 Ways to Profit - Small Business Success

Small Business Success 32 Ways to Profit

Clarify Objectives Constantly Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Write down your personal reasons for

successful small business ownership.

The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464 1 OBJECTIVES

Clearly state your business goals

regardless of your personal talents or skills.

2 OBJECTIVES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Schedule activities for each lifestyle area:

individual, family, spiritual, career, financial.

Plan your use of time in 30 minute increments

with an emphasis on mandatory items.

Enhance Management Skills Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Develop a step-by-step action plan for each

of your individual and business goals.

5 MANAGEMENT The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Report the results of your action plan

activities on a scheduled basis.

Evaluate your results against the targets

you set in your action plans.

Develop alternative steps for areas of your

action plans which are under performing.

Improve Finance Opportunities Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Select a business entity which reflects

your personal goals and facilitates funding.

9 FINANCE

Create a budget and compare your

actual numbers to your forecast numbers.

10 FINANCE The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Setup, maintain and regularly review

an accurate set of statements .

Project cashflow using a time frame

which allows you to prepare for shortfalls.

Fulfill Personnel Needs Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Diagram your business structure by identifying

the jobs required to meet your objectives.

13 PERSONNEL The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Only hire people who capabilities

and interests match your job description.

Compensate people based on the revenue

or savings they generate in their positions.

Motivate people by understanding why they

are working and what they want from their jobs.

Increase Marketing Effectiveness Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Identify why people or companies buy your products and services and how they use them.

17 MARKETING The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Understand who your customers are

and how they make buying decisions.

Develop a strategy for differentiating

yourself for your competition .

Use sales and promotional methods you can consistently and persistently execute with results.

Streamline Operations Regularly Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Adopt an efficient administration system

for keeping your business records.

21 OPERATIONS The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Make sure every square foot of your

business facilities is working for you.

Invest in equipment and technology only

after determining your Return On Investment.

Identify and meet the expense of all

business requirements in a timely manner.

Reduce Production Costs Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Breakdown each of your products / services

into their basic component s .

25 PRODUCTION The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

Outline the steps and costs of your production proces s for each of your products / services.

List the steps and costs for the distributio n

activities for each of your products / services.

Add up and add on margins to all of your steps

and costs to determine your profitable pricing .

Leverage Resources Always Small Business Success The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464