Transform Your Business Immediately With These Two Simple Profit Levers

Tuesday, May 28, 2024

Primary Blog/Expert Authority/Transform Your Business Immediately With These Two Simple Profit Levers

You can turn your business profits around with even just these two of the five profit levers.

Welcome to our latest blog post, where we dive into a fascinating segment from the i-Convert Summit. In this interview, Jason Buckner sits down with Phil McGilvray to uncover the two profit levers that can instantly boost your bottom line. If you're looking to get more leads and double your sales, you're in the right place.

Phil's approach is refreshingly simple yet incredibly effective. By focusing on these profit levers, he demonstrates how businesses can go from losing money to turning a profit in no time. 

Watch the video below now to discover these game-changing insights and start transforming your business today:

"Yeah. And so for me, the biggest thing with all my clients, it's amazing how many businesses can turn themselves around almost immediately with just the first two profit levers.

The first one being, let's look at your expenses. Let's look at where there's waste. There's always waste in people's businesses. As I said, we would spend $5,000 on hiring a coach for our business stuff, but we'd never think about doing that in our personal life. And so just starting to realize, do these expenses drive me towards profitability? Yes or no?

If they don't, why are they there? Or if they're there and they create more time in my life, well, fantastic, let's keep it.

But then if we can't decide based on those two, then we go through a simple process of asking, do I really need this expense?

If I do need it, do I really need it right now?

And if I do need it right now, can I find it cheaper elsewhere?

And if you go through all of your expenses that way, and I often suggest sitting down with a trusted mentor or someone you really respect and going through that process with them because we can lie to ourselves about what we're spending, but it's much harder to actually lie to someone else about why we're justifying this within our business. But that alone will help you eliminate the waste.

And then the second profit lever is, well, can I charge more?

And my experience is that most business owners aren't charging enough. We should always be saying, what do I need to charge to give my client or my customer the best possible outcome? That should always be our goal. And very often, we don't do that. We've got these fears about charging more, or we don't think we're worth more, or we think people will reject us, or we'll miss out on potential customers.

But at the end of the day, if you're actually selling your product for less than you need to be earning to cover your business expenses, cover your personal expenses, pay your tax, and have profit built in, then you're undermining your whole success. So knowing those numbers is really important in getting your pricing right.

Those two things alone can turn—this client was telling me about the supplements business—those two things alone have turned him from losing $30,000 a month to making $5,000 a month, which is still only $5,000 a month, but at least he's now not losing $30,000 a month."

As you can see, applying these two profit levers can make a world of difference in your business. By scrutinizing your expenses and ensuring you're charging appropriately for your products or services, you can significantly improve your financial health. These strategies have been proven to work in real-world scenarios time and time again, helping businesses like yours thrive.

We highly recommend watching the full interview with Phil McGilvray to get all the details and actionable advice, include all 5 of Phil's simple Profit Levers.

Click the button below to access the complete interview for free. Don’t miss this opportunity to learn from one of the best and take your business to the next level!

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Hi, I Am Jason Buckner

CEO Of i-Convert Summit

Ready to take your business to the next level? i-Convert Summit shows you proven strategies for to doubling your sales in the next 12 months.

20 speakers, 3 days, plus bonus AI day. 20 ways to double your sales.  Register now for our next session.

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