How to make more money in 2017 – Monarch Money Message week of December 5th, 2016

The next 5 weeks we will focus on a specific area of your business – the same areas that we work on in my FREE 5 day on-line challenge that starts next week! To join the challenge click the image at the bottom of this blog post

I am keeping it pretty simple too – it a busy time of year. Here are 3 tips to help you make MORE money in your business in 2017  with just working where you are now – and I do not mean more sales!

So lets get right to it:

  1. Review your profit margins
    Your business is not just about keeping some of it too!. *9% of the time when I sit down with business owners, the #1 reason is they are not profitable. Make sure you understand exactly what your profit margins are – both gross and net. In my 2017 business jumpstart challenge, we will take that first step towards making sure you are on the profitable path
  2. Review your pricing
    Are you sure your pricing your products and services correctly? When’s the last time you raised your prices? How often you you give discounts? A seemingly simple 10% discount usually means you will have to sell 25% more to make up the difference- crazy right?
  3. ROI is key!
    Every action you take in your business mus  bean ROI – a return on investment.  INvesting money and spend money are not the same. Think about how your money comes and goes, and when it goes, make sure it is a good investment. I find the # cause frustrated business owners have is that they are not really sure where the money goes and more importantly WHY it goes.

That is more than enough to get you thinking for this week! Remember, more sales doe not always mean more money. If you increase your sales without having a handle on your money, you may actually dig yourself a deeper hole. Let’s make sure that doesn’t happen to you.

To your success-
Coach Lee




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