Are any of the 8 locks stopping you achieving what you want?
Over the years we have identified the key issues or problems that hold businesses back from achieving their goals. The same issues or 'locks' are identified time and time again. By helping them 'open' one or more of these 'locks' a business will go a long way to achieving it's true potential.
Let The Profit Key help you and your business identify and put in place solutions to unlock your business potential.
Which locks are holding your business back?
Call today for a free chat to see if we can help identify where you can achieve your business and personal goals.
View the headlines below from our 8 Locks methodology that shows the challenges that prevent many business owners achieving what they want from their business. If you would like a full copy please just click or tap Contact Us and we’ll mail one out to you.
The Profit Key are based in Ashby de la Zouch and primarily service clients across the East Midlands and West Midlands but we are always happy to work with any clients across the rest of the UK. Our client base locally covers Derby, Nottingham, Loughborough, Leicester, Burton upon Trent, Coventry, Chesterfield, Stoke on Trent, Mansfield, Newark, Grantham, Birmingham, Wolverhampton, Stafford and surrounding areas. Where you are based matters far less to us than how we can help you grow your business so please get in touch no matter where your business is based.
If you don’t have a business plan, you’re not alone. But research shows that having a written business plan means you are far more likely to succeed. As the saying goes “when you don’t know where you are going, all roads lead there.”
In business – as in battle – a calculated plan and sound strategy are fundamental to success.
2. Sales and Marketing
“The aim of marketing is to know and understand the customer so well that the product or service fits the customer and sells itself.” Peter Druker
Having a written marketing plan will really help your business achieve the sales and profit goals. There is more to sales and marketing than simply gaining new customers.
3. External Perspective
“It’s hard to read the label when you’re inside the bottle.” Roy H Williams
Having an independent, honest and unbiased external input to your business can really help you make the right decisions and avoid expensive mistakes. Most successful businesses regularly have someone external looking at the business from the outside.
“Organise around business functions not people. Build systems within each function, let systems run the business and people run the systems. People come and go but systems remain constant.” Michael Gerber
Systems not only enhance consistency they also increase customer certainty and trust. Systems make it easier to recruit and train people and provide additional employee flexibility.
“The best executive is the one who has the sense to pick good people to do what they want done but the self-restraint to keep from meddling with them while they do it.” Theodore Roosevelt
The single most beneficial advice we feel we can give any business owner is to stop working in the business and start working on the business.
6. Cash Flow
The old adage “turnover is vanity, profit is sanity but cash is reality” resonates even today. Profit is different to liquidity and the pressures on these two things are different.
The business that runs out of cash will encounter serious difficulty even if it is profitable with every sale it makes. The Profit Key can help put in place systems that forecast cash flow and prevent this becoming a problem for your business.
“Price is what you pay, value is what you get” Warren Buffett
One of the biggest challenges for any business is pricing. It can also be one of the biggest opportunities for many businesses.
Customers will pay different amounts for the same product or services based on their perception of value. Pricing will make a significant contribution to the profitability of your business.
8. Staying in your comfort zone
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison
The good news is business is difficult; if it wasn’t everybody would be doing it. One of the key areas that differentiates great businesses is their willingness to take action to drive positive change. The secret lies in forming the habit of “doing the things failures don’t like to do” it’s as simple as that.