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.
“Most people in business know their craft or their particular product. The problem is, that having only that skill set makes you a great Worker instead of Business Owner. Not having the proper mindset, financial skills or promotional skills, limits your ability to find, sell, up-sell and keep any potential customers on a pro-active, ongoing basis.”
The U.S. Census Bureau reports that 400,000 new businesses are started every year in the USA, but 470,000 are dying.
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?