We met with two people this week who’d started new businesses about 18 months ago … one who was thriving, one who’d just closed the business.
Both businesses were in tough, competitive markets (which businesses aren’t?!). Both had solid expertise and experience – and lots of contacts in their respective industries. Both had a great business model – and a unique “value-added” offer.
So, what was the difference that steered them in such different directions?
Was it the revenues they generated?
The profit margins?
Customers paying on time?
No, none of these things … the answer is so simple, it’s almost embarrassing.
You may not have started a new business, you may have started a new job in an established company … but the principle still applies.
The answer …
The attitude towards spending the money they’d generated …
One person drove a Porsche Panamera, occupied an expensive office, dressed in designer clothes, ate in all the fancy restaurants, joined the most expensive country club around … (all paid for by the company) well, they did until the business closed.
The other person drove a VW Golf, dressed in an off-the-peg suit, didn’t have time for the gym or eating out, spent all their money on the business developing, staff and looking after the customers and making them feel valued.
The moral to the story:-
Don’t spend money on things you don’t need, with money you haven’t got to impress people you don’t like. The second person told me, one day I may get a Porsche Panamera, and all the other stuff, but when I can buy it all with my own money, not the company’s.
If wealth is a measure of success … it’s usually determined by how much you spend, not how much you earn. If you’re not sure about that, we’ll give you more details about another individual we met last week who’d earned £25,000,000 between 2000 and 2015 – he was made bankrupt on Tuesday.
If you’re a C-Level Executive, when the next board meeting rolls around make jaws hit the table by informing them that you’ve claimed a FREE “Business Transformation Strategy Session” worth £1495.
You may be wondering why we are making you this offer? Well the answer is …. we know we can transform your business performance in all kinds of ways – revenue growth, margin improvement, cost control, customer loyalty etc …, but you don’t … not yet anyway!
We are happy to take on all the risk and see where it leads us, so that’s our offer whatever business you’re in, whatever numbers you’re hitting today there’s always room for improvement.
Claim your free session here, that’s it we’ll log your request and contact you to fix up a date, then … we’ll spend an hour or two at your offices or ours talking over your latest challenges and opportunities.
We’re looking forward to surprising you, and at an appropriate time everyone in the boardroom, when you walk in with some amazing new numbers, numbers just like we have achieved for so many others …
- As a result of our work with an organisation in the Manufacturing industry they saw their closing ratio increase by 130%
- Another organisation in the engineering industry had increased profits by £600,000 … after breaking even in previous years
- Also, after working with an organisation in the financial services industry they saw turnover increase from £87M to £148M – that’s an increase of 70%