Over the last 2 decades of starting, operating, and selling businesses, Sergio DeCesare, the owner of Max Business Profits, has realized and documented 7 essential Factors of Profit in business plus a few other important tactics that can take a business from Mediocrity to Super Star status.
Profit Factors, or P-Factors, as we call them, like People, Promotion and Pricing, as well as the rest, are absolutely critical to get right in order to profit massively.
NOT understanding these “P-Factors” down cold, could mean the difference between having a cash machine that runs on Autopilot OR being out of business in less than three years! It’s the difference between having an operation that grows EVERY year, in good times or bad or having a J-O-B or Hobby that is simply just siphoning off your money, precious time, your health and marriage!
Here is some Frightening Statistical Facts:
The U.S. Census Bureau reports that 400,000 new businesses are started every year in the USA, but 470,000 are dying.
- 88% of all married couples working together WILL divorce.
- 1/3 small business owners will be out of business in 2 years.
- Half will not survive 5 years.
- Only 4% make it beyond 10 years.
- Survival rates are similar across industries.
Concerned about Family Owned Businesses?
- 88% of business owners think their business will stay in the family. Most are wrong.
- 30% make it to 2nd Generation
- 12% to a third.
- Almost unheard of, but only 4% make it to a 4th Generation.
92% of all business failures can be attributed to 1 of 2 reasons or BOTH:
1. Lack of Financial Knowledge, Anticipation or Skills:
a. Understanding your financial data and how to use it.
b. How to Price their product or service competitively for the maximum amount of Profit.
c. How to correctly gauge costs correctly.
d.How to create and document processes in their business to increase productivity.
2. Lack of Marketing Knowledge:
a. WHO is your marketing target and Why.
b. WHAT problem do you solve for them?
C. WHY should they choose you over a Competitor?