8 Ideas For Growing Profits 20% This Year! (1 of 2)

(1st of two articles)

Have you ever watched pro athletes who are competing in the playoffs?  When they lose a game or a match, they are absolutely determined to adjust and not let another loss happen again.  There is a sense of urgency and recognition that adjustments need to be made.  They do not take it lightly because they know the goal they want to accomplish – and they want to be the champion.  There is a sense of urgency about the task to be accomplished.

Your business is now through four months of the year.  How are you doing with revenue and profit growth verse the goal you set at the beginning of the year.  I have some new ideas for you that can help you get positioned to turn things up.  These are recent ideas that have worked for me and my CEO coaching clients.  The main thing is, do not wait.  Move now.  In the first of two articles, here are the first 4 ideas to grow your revenue and profits 20% over the next year:

  1. You were targeting to win some specific NEW ACCOUNTS in Q1.  Are your new accounts coming in as expected?  Why or why not?  Who owns the number – meet with them this week and review the details.  Learn as much as you can – and adjust and get your Q2 new customer acquisitions back on track.
  2. Which CURRENT CUSTOMERS were you planning for new growth in Q1?  What were the specific opportunities in your pipeline and why are they not closing?  Can you help your team get it back on track?  Meet with your account team this week and develop a game plan together.
  3. PARTNERS.  Did you have specific agreements in place now and have sales resulted?  Were there specific deals you both planned on closing in Q1 that would result in new sales in the coming year?  Did you win the deals and if not, where did it break down?  Have adjustments been identified and implemented? Approach your partners and adjust your game plan to meet the win-win goals that you had together!
  4. MAJOR ACCOUNTS. Tell me the 5 largest end-users you had planned for high growth in the coming year.  Are the specific opportunities with these accounts identified in your CRM (Customer Relationship Management system)? What is next step for each Major Account opportunity?  Develop next steps with your team this week!

One last point on your approach with your team.  Of course you have to be yourself and be authentic, but you also have to remember you are part of the team and you win and lose together.  If the business is behind plan, take ownership yourself as the leader and jump beside your team and fight with them.  Focus on the goal ahead.  Use finesse and confidence to create a positive process for getting your team focused, on track, and winning together!

I recently worked with one of my coaching clients on some of these ideas, and we have major account sales up 20% over a year ago, and the margin on those accounts has increased by 20 points!  This is real – and you can do it too! 

The bottom line is this:  As a leader, you should exhibit a sense of urgency about your need to hit commitments and to make adjustments. If you do this, so will your people. Champions typically win because of the team’s drive and focus to win it all. If you can make some moves in the next 2 weeks, you can still reach the targets you wanted when you started the year, and will be on your way to taking your team all the way to the top!

Ready to explore your potential?

  1. 1-on-1 Coaching: Gary has implemented the ideas above successfully with his own teams, and he is actively refining them today with his CEO coaching customers. Can we help you implement positive results in your company? Contact Gary directly: gary@inspireyourselftoday.com
  2. Learn at your own pace: Join The Growth Cube Academy – a training school for small business CEOs that includes 20-minute video workshops conducted by Gary that you can listen to at your leisure, and focus in on specific topics.
  3. Think – Order Gary’s book, The Growth Cube, or join Gary’s newsletter and stay up-to-date with new successful models and tools!
  4. Learn more about how Gary is applying these principles real-time in his startup company. Go to www.woundwiseIQ.com and sign up to see a demo or invest in Gary’s AI and imaging analytics software products that help improve patient wound healing.