Take a tip from Alan Sugar and aim for higher margins
April is the start of a brand-new business year and a perfect time to make changes that will increase profits, and Alan Sugars recent speech to small business decision makers in London, was jam-packed with great advice about how to set the market price of your product or service.
Speaking at the Quickbooks’ Connect event, at London’s Tobacco Dock, Sugar told entrepreneurs that having a high margin has been the bedrock of his business culture.
Alan Sugar: “Have a wakeup call with yourself”
He said: “These days, young business people, including some of the winners I’ve had on The Apprentice, see any margin as a good thing. That should be the lower limit of their ambition. I ask them to think about what a product is really worth.”
“The focus should be on costs. Have a wakeup call with yourself about what you spend, every day if necessary, but at least every week or month.”
When Did You Last Study Your Margins?
The new business year is a perfect time to take stock and make small changes that will have an instant effect on your bottom line without rocking the business boat and unsettling systems that are working well, but do you know where to look for these little gems?
Working in the middle of your business every day, there may be lots of easy gains, if only you knew where to find them. That’s where Action Coaching comes in. An independent business professional who can look at your systems from the outside, lifting those stones that have been unturned for a year and helping you untangle the good from the bad.
If you watch Game of Thrones; having a business Coach like ActionCOACH Loughborough, Laurence Duncan, is like having a ‘King’s Hand’ working on your side; with the knowledge and experience of how to beat your competition at every turn. Working on your side and watching your business back while you drive forward into new and unchartered territories.
GoldCOACH Grow Your Business Programme
The Grow Your Business coaching programme is perfect for business owners who are determined to achieve significant growth in the new financial year. Especially if you are working far too many hours a week and the business would not be able to survive without your constant input.
You Will Get:
Up to three 1-hour strategy implementation and goals setting sessions with Laurence Duncan by phone each month plus one personal visit each month, with up to ten hours per month critiquing and developing marketing, systems, logistics or team recruitment pieces.
In addition, you also get up to two 4-hour workshops or training seminars during the first six months, geared not just to you, but to your team, delivering: selling skills, using sales scripts, team building, customer service or any customised topic.
You also have a Personal Profile Analysis using the DISC programme for the business owner and any one other key individual in the company.
There are many other Coaching programmes, some more intensive and some ‘lighter-touch’ group based programmes, so whether you want to just dip your toes in the water, or set-off in a speedboat, there will be a perfect Coaching programme for your needs
Don’t Wait – Quarter One has already started!
For more details call Laurence today on 07584 028105
or email firstname.lastname@example.org