How to Make more money in your business consistently – Monarch Money Message for the week of Oct. 31st, 2016

Today’s the day! 3:00 PM Eastern!
The Launch of my new weekly class “More Money NOW!”

When I start working with a new business, I quickly can see why they are where they are. Although they generally know how much money the business has brought in, that’s pretty much where it ends. Here are a couple of questions for you to ponder….

1. Are you profitable in your business? If so, How do you know?
2. On average, what percentage of prospects do you convert in to customers (clients, students, patients, etc.)? How do you know?

SO many times when I even talk with business owners, I get these answers: “Yes, I think I am profitable”, and “I would say about 80%”. What did you answer?  What happens, however, as I being to dig deeper, neither answer of those are in fact correct.

On the profit side, more often than not, owners will leave out the fact that they are not paying themselves (or very little), they do not include the time they spend (rather than invest) and  a myriad of other things that we need to figure in.

On the conversion side – A.K.A. your sales process – once I delve into it, they have no clue,and in fact they do not even have a sales process in place! Sound like someone you know?

And here’s the good news. We can easily work with no profit, and no sales process – that means there is lots of room  for improvement!  Think about it, if your business is not where it should be, and most likely you are overworking, underearning, and either frustrated or overwhelmed with your business, and your business IS actually profitable AND you are converting 80% of all prospects – then we are in real trouble.

That’s it for this week- start figuring out if you are TRULY profitable, and look at all your new customers this year, vs. how many prospects you encountered. Figure out where you really are. NO judgement or criticism. It’s just very good information, and it will make the biggest difference for you in 2017. And if you want to learn ways to improve them- Join my weekly class! That’s what I am here to do for you!

To Your Success –

Master Coach Lee  Munch