It doesn’t matter what business you are in or where you are located, fundamentally there are 5 ways to grow your business.
- Generate more leads
- Increase your sales conversion rates
- Minimise client churn (defection)
- Increase the frequency of purchase
- Increase the average sale
So where do you start?
The great news is, by making slight tweaks to each of these areas (an improvement of just 5% in each areas), you can increase your profits by 72%.
For instance, if you put in place certain measures to increase your sales conversion rates form say 2 in 10 to 3 in 10 that’s an instant 50% lift in sales … just by looking at your sales processes.
At EBAA we work hand in hand with you to help you achieve growth by addressing each of these 5 methods.
We start by looking at the low hanging fruit. In other words, what small actions can you take now that will produce a dramatic improvement in your results.
Independent Insurance Broker
We uncovered a number of projects that once implemented increased revenue from $700,000 to $1,000,000 – a 43% increase. Profit went from break even to $300,000.
Increased revenue by $2,392,000. This represented a 18.9% increase over two years – well above the previous 5 year trend.
Increased frequency of purchase by 10% which increased revenue by $485,000 per annum.
Is focusing on a 10% improvement across all 5 areas in the financial model which is set to increase revenue by $1,321,000 or a 44.3% increase in one year
Increased revenue by $109,000 or 71% as a result of concentrating efforts across these 5 critical factors.
These kinds of results may be possible for you too. To explore your growth potential, simply request a complimentary Discovery Consultation with Evan.
BOOST CASH FLOW
If you’re experiencing a cash flow crisis, chances are your stress levels are through the roof. Maybe you don’t know how you’re going to pay your staff next week, let alone your creditors. That terrifies you.
You feel like you’re at the bottom of a well and can’t get out. You know that there is a rope to climb your way out (somewhere) but you just can’t find it.
It’s okay. You’re not alone. Many of our clients have been there. The good news is that even though the situation may seem hopeless, there often is a highly profitable way forward.
At EBAA, we specialise in taking businesses from cashflow squeezed to cashflow abundant.
The starting point is knowing what you’re spending and when.
We then look at the ‘low hanging fruit’ so you can get some instant wins.
A quick tweak that saved a client $3,000 a month
“With one client in the plumbing industry, we looked at how he was funding his business. We restructured it and bang – he instantly saved $3,000 a month in overhead payments. We then said to him, “Let’s take that money and use it to increase sales.”
The most transformational things our clients have done from day one is daily cashflow management – predicting your cashflow and bank balance on a daily basis – 90 days out.
It’s amazing what it does for a business owner.
As part of the engagement process we provide you with a cashflow model tool that enables you to do just that. Many accountants charge as much as $1,000 for this process. You receive it FREE.
Here’s another example of what’s possible …
From $300k in the red to $50k in the bank 45 days later
We look at who you owe money to and I say, “Don’t pay that. Pay this. Make arrangements with that creditor. Delay this. This will get you back in the black.”
One client came to us and he was $300k in the red. Within 30 – 45 days of working together they turned it around and never went under $50k in the Bank.
As stressful as it is – as terrified as you are – regardless of where you are right now – even if you think the situation is hopeless – there very well could be a solution.
The first step is getting on the phone and asking for help. Let us give you the answers through a FREE, no obligation Discovery Consultation.
On paper you made a profit last year but your pockets are empty. You wonder where all the money went as you’re certainly not living a lifestyle that reflects your profit figure.
It’s frustrating being in the black if you have nothing tangible to show for it – if all your profits are tied up in capital.
Another profitability challenge…
Are you promoting the right product or service? One that actually works for your business? It’s amazing how often we see how much revenue a client is making and how much of that money goes towards promoting the least profitable product or service.
We use a proprietary diagnostic tool to analyse your numbers and pinpoint what you can be doing to maximise profits on each sale and at the same time, enhance your cashflow position.
Our profit growth services include:
- Developing a financial scorecard that plots KPIs
- Identifying the most profitable pricing strategy (the most misunderstood lever in any business)
- Creating the Product/Service mix that maximises profit
- Performing a ‘What If Analysis’ (forecast how changes in price affect profit and volume)
Group of child-care related companies
Increased business valuation from $1.2 million to about $4 million. Increased profitability from $300k to $1 million plus.
Automotive service industry
Margins increased from 28% to 46% +. Achieved a 300% increase in profit in two years.
Remained profitable throughout severe industry downturn and increased profits by 10% with view of expanding this year.
Increased profits by $821,000. Identified sale opportunity before downturn hit. Increased the valuation by $5.9 million over 3 years.
What is possible for your business?
Arrange your Complimentary Discovery Consultation to find out more or if you need more information or have any queries please feel free to contact us.
EBAA analyses all the appropriate variables to find the opportunities to dramatically grow revenues and profit quickly without additional capital investment.