This system has 10x the profit in one of my businesses!
I have spoken before about the importance of boundaries when looking at how much time you work in your business. You may recall that I spoke about having hard boundaries of when you finish your working day and how this forces you to be more effective to get the right work done.
I have also spoken about Parkinson’s Principle that says that the size of a task expands or contracts to meet the time available.
We can use this same principle to start generating profit in your business. This is best explained by Mike Michalowicz in his book Profit First.
Here are the key takeaways.
It’s that simple – well not really, in reality there are a lot more decisions that need to be made and we are happy to work with you set this system up in your business - just book a discovery call!
The attached video addresses the concern that some people have about taking profit out of their business – if you feel uncomfortable about taking profit out of your business this might help. (got a little bit more passionate than I normally do)
I have spoken before about the importance of boundaries when looking at how much time you work in your business. You may recall that I spoke about having hard boundaries of when you finish your working day and how this forces you to be more effective to get the right work done.
I have also spoken about Parkinson’s Principle that says that the size of a task expands or contracts to meet the time available.
We can use this same principle to start generating profit in your business. This is best explained by Mike Michalowicz in his book Profit First.
Here are the key takeaways.
- We usually only take profit from what is left over once we have paid everyone – the end result is that there never seems to be enough money to take profit out of the business.
- Take profit first, start small and work up. By taking out profit first you are using a boundary to define how much money you have to run your business. Parkinson’s Principle then results in you running a more efficient business.
It’s that simple – well not really, in reality there are a lot more decisions that need to be made and we are happy to work with you set this system up in your business - just book a discovery call!
The attached video addresses the concern that some people have about taking profit out of their business – if you feel uncomfortable about taking profit out of your business this might help. (got a little bit more passionate than I normally do)
