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7 Ways to Improve the Bottom Line
The document outlines 7 ways to improve a business's bottom line: 1. Optimize the power of saying "yes" and "no". 2. Engage in contingency planning by always having a Plan B. 3. Develop business proposals, both solicited and unsolicited. 4. Negotiate to reduce expenditures and costs. 5. Add or enhance inbound marketing strategies. 6. Improve all forms of business writing. 7. Prevent recurring or "zombie" business problems.
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7 Ways to Improve the Bottom Line
- 1. Stephen Bush 7 Waysto Improve the Bottom Line
- 2. “Yes” and “No”are often misunderstood Take time to learn about the positive value of No Suggested reading: The “No” trilogy by William Ury “No is perhaps the most important and powerful word. Saying No the right way is crucial.” (William Ury) OPTIMIZING THE POWER OF NO — BETTER USE OF YES AND NO CHOICES Improving the Bottom Line
- 3. Answer in advance:What if something goes wrong? Not widely used — can provide a competitive edge Always Have a Plan B — and possibly Plan C, D, etc. The goal: reduce unwanted and unknown risks “The best way to predict your future is to plan it.” (Peter Drucker) Improving the Bottom Line CONTINGENCY PLANNING — ALWAYS HAVE A PLAN B
- 4. A cost-effective businessdevelopment strategy Overlooked by many small businesses Recommended: One-page unsolicited proposals “Successful proposals usually lead to immediate business.” (Stephen Bush) Improving the Bottom Line BUSINESS PROPOSALS — BOTH SOLICITED AND UNSOLICITED
- 5. Effective negotiating canreduce costs immediately Avoid paying “full sticker price” for anything 8 key candidates for negotiating in most companies “You will never make more money than when you are negotiating.” (Roger Dawson) Improving the Bottom Line NEGOTIATING AND REDUCING EXPENDITURES
- 6. Reduce expenses foradvertising and cold calling Educational content: use 3 to 5 alternative strategies Avoid 12 common inbound marketing mistakes “Successful inbound marketing requires more than a blog — Thinking Outside of the Blog.” (Stephen Bush) Improving the Bottom Line ADDING OR ENHANCING INBOUND MARKETING
- 7. Avoid 10 primarybusiness writing mistakes Press releases: 9 suggested guidelines Overlooking business writing: 8 common reasons “Writing is the best way to talk without being interrupted.” (Jules Renard) Improving the Bottom Line IMPROVE ALL FORMS OF BUSINESS WRITING
- 8. Most organizations: 9or more recurring problems The working goal: prevent and avoid Zombie Business Problems “Intellectuals solve problems, geniuses prevent them.” (Albert Einstein) Improving the Bottom Line AVOID OR ELIMINATE RECURRING BUSINESS PROBLEMS (ZOMBIE PROBLEMS)
- 9. If necessary, considerfiring your bank Use less debt instead of more debt Increase collaborative efforts Include cost-effectiveness criteria in decisions Improving the Bottom Line MORE SUCCESS TIPS
- 10. Optimizing the Powerof No Contingency planning (Always Have a Plan B) Solicited and unsolicited business proposals Negotiating and reducing expenditures Adding or improving inbound marketing strategies Improving all forms of business writing Prevent Zombie Business Problems Improving the Bottom Line ONE MORE THING — A REVIEW OF 7 WAYS TO IMPROVE THE BOTTOM LINE
- 11. Stephen Bush 7 WAYSTO IMPROVE THE BOTTOM LINE