Can all businesses really, in fact, be the same?
How can a construction firm and a medical office be the same in terms of business?
After all, they serve different customers, offer different products and services, and charge differently, don’t they?
Yes, they do.
But look deeper, and you’ll realize all businesses need sales and profits to survive.
And dig a little more deeply than that, and you’ll realize that the construction company and medical office not only needs sales, but more customers, and good profit margins in order to not only survive … but thrive. It just goes to show, no matter what type of business, each and every one may need some help from time to time.
After working with tens of thousands of businesses all over the world, ActionCOACH has created a system of looking a business that is applicable to any business (and any business model) … for any company, anywhere in the world.
Not convinced?
What if we could agree that every business on the planet is driven by a few key factors of profitability …
A conventional accountant or consultant will look at only top line revenues and expenses that lead to a bottom-line profit.
An ActionCOACH, however, will look at a total of 5 key factors that not only lead to profit … but will multiply profit by as much as 61% when each factor is increased by just 10%.
What are those 5 key areas?
Here they are …
1) Lead Generation
2) Conversion Rate
3) Average Value Sale
4) Average Number of Transactions and …
5) Profit Margins
Those areas are highlighted in the following equation:
Lead Generation x Conversion Rate = # Customers
# Customers x Avg. Value Sale x Avg. # Transactions = Revenues
Revenues x Profit Margins = Profits
So basically, we are looking at the equation for profitability for any business, in any market, in any industry sector.
Throughout all of these sectors of business, the equation for profitability stays the same.
ActionCOACH has developed more than 367 different systems and strategies under these five variables.
Conventional accountants see profits simply by the equation: Revenues – Expenses = Profits.
ActionCOACH Business Coaches see that equation in a completely different way.
Isn’t it time you did, too?