5 Words To Remember For Business Profitability

5 Words To Remember For Business Profitability

There are many elements to managing and operating a successful business.

You need to prospect for customers.

Present your product or service in a way prospective customers can relate to in order to buy from you.

Then keep customers coming back in the future.

Have customers be advocates for your product or service to further spread the word to others in need of your product or service.

Sounds easy enough, doesn’t it?

But as you may know there’s are countless details that go into having everything come together for your business to be successful and to be profitable.

Here are 5 words to remember for business profitability:

On time and on budget.

Businesspeople often forget those words.

You may have a signed contract.

You may have business streaming in.

But you need to keep and add to the business base you have.

You do that by demonstrating to customers how responsive you and your company are.

That means keeping your business commitments to build trust with those you work with.

You can’t agree to a delivery deadline of, for example, the 12th of whatever month and then the 12th comes and goes but the promised work isn’t produced on time. If you can’t keep to the agreed upon timeline, then notify the customer before the anticipated date not after the deadline has passed. Together update the plan to the agreed upon work. Also, keep accurate notes in a CRM (customer relationship management) tool such as Nimble.

Remember:

  • On time.
  • Be true to your word.
  • Build trust.
  • Build the business relationship.

Let’s now briefly talk about the other half of the 5 word phrase:

On time and on budget.

You are in business to make a profit. Without business profits there won’t be any company long term. Eventually, operating funds will be depleted. Cease to exist. No way to pay for the lights to be on in your office.

Now that may seem extreme but it’s true. It’s the hard truth. No matter how much good you do or create in your business, if you’re not making a profit then eventually you won’t be in business for very long. That’s a highly stressful and disappointing business situation to be in.

How do you make a profit in your business?

  • Attracting the right customers
  • Delivering products or services on time
  • Estimating realistically what the cost to the customer will be
  • Customer perceives value in what your company has to offer
  • Delivering products or services at the agreed upon total cost – on budget – and perhaps even under budget
  • Keeping the customer happy with their decision to work with you and your company.

Building a business requires consistent repeat business.

Remember these 5 words for business profitability:

On time and on budget.

Remember something else for business success and business profitability:

Treat people as you would want to be treated. That includes customers, employees, co-workers, vendors, suppliers, outsourced or other business associates. Common sense, courtesy and understanding the needs of people go a long way to helping you become more successful and more profitable with your business.

To your success!

One Comment

  1. I guess this is prime things which let me get remember for doing business profitability .If this is working for them and i will put them in my business ,

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