32 Ways to Profit - Small Business Success

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    32 Ways to Profit - Small Business Success - Presentation Transcript

    1. Small Business Success 32 Ways to Profit
    2. 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.
      3 OBJECTIVES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Plan your use of time in 30 minute increments
      • with an emphasis on mandatory items.
      4 OBJECTIVES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    3. 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.
      6 MANAGEMENT The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Evaluate your results against the targets
      • you set in your action plans.
      7 MANAGEMENT The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Develop alternative steps for areas of your
      • action plans which are under performing.
      8 MANAGEMENT The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    4. 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 .
      11 FINANCE The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Project cashflow using a time frame
      • which allows you to prepare for shortfalls.
      12 FINANCE The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    5. 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.
      14 PERSONNEL The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Compensate people based on the revenue
      • or savings they generate in their positions.
      15 PERSONNEL The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Motivate people by understanding why they
      • are working and what they want from their jobs.
      16 PERSONNEL The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    6. 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.
      18 MARKETING The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Develop a strategy for differentiating
      • yourself for your competition .
      19 MARKETING The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Use sales and promotional methods you can consistently and persistently execute with results.
      20 MARKETING The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    7. 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.
      22 OPERATIONS The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Invest in equipment and technology only
      • after determining your Return On Investment.
      23 OPERATIONS The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Identify and meet the expense of all
      • business requirements in a timely manner.
      24 OPERATIONS The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    8. 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.
      26 PRODUCTION The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • List the steps and costs for the distributio n
      • activities for each of your products / services.
      27 PRODUCTION The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Add up and add on margins to all of your steps
      • and costs to determine your profitable pricing .
      28 PRODUCTION The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    9. 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
      • Make use of the internal people and
      • information resources you're already paying for.
      29 RESOURCES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Don't be afraid to pay for the appropriate external experience required to grow your business.
      30 RESOURCES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Take full advantage of all the industry information offered by organizations you've joined.
      31 RESOURCES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
      • Universa l business knowledge is all around
      • you - ask questions and listen.
      32 RESOURCES The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464
    10. Checklist 32 Ways The Profit Puzzle Solutions for Small Home Based Business Start Up Success By Don Osborne – profitpuzzle.com – (909) 560-1464

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