How to Improve Profitability Starting Today.
As entrepreneurs, we tend to get caught up in the myth that bigger is better. Instead we should be searching for ways to improve profitability More is More etc. Higher revenue equals more profit, right? Well After more than ten years of working with some of the largest and smallest companies around, I can tell you that there is a number that trumps all others. As the king of Numbers, Keith Cummingham puts it, profits are theory cash is a fact. When you want to have more cash you don’t necessarily need to sell anymore, instead you to improve profitability!
But if you’re serious about creating a profitable business, then you’ve going to want to master the content of Keith J. Cunningham. Cunningham is a rare blend of experience, seasoned entrepreneur, acclaimed author, and teacher, that takes the nonsense and confusion completely out of the business finance. If you want to learn how to handle your financials, then grab your books, take down notes, and let’s get down to business. Who better to learn numbers and financials from than The King of Numbers himself?
What Is The King Of Numbers?
Before we get to business, we need to ask the million-dollar question first: What is This King of Numbers? The King’s name is profitibility. And the king of teaching us to improve profitability is Keith Cunningham. A Texas-born man who came from literally nothing! Talk about a zero to hero story—Cunningham is the kind of person you’d want in your corner when things get rough. But what does it mean to come from nothing? And how do you get from nothing to being one of the world’s biggest authorities on business mastery? You’re about to find out now!
Here are a few key points about Keith: He:
- Was born to be a businessman! Back in 1961, as an eleven-year-old, he started a door-to-door egg delivery business.
- The business paid his way through college but the lessons he learned are what he considers to be the foundation of who he does business with to this day.
- Moved to other ideas such as mowing yards and taking on babysitting tasks.
- Learned early from his father to keep a ledger on all his transactions, which includes, sales, profits, and expenses.
- Has written three books, The Ultimate Blueprint For An Insanely Successful Business, Keys To The Vault, and The Road Less Stupid.
- Is a self-made millionaire and instead of keeping his secrets to himself, he travels around the world teaching people how to improve profitability.
- Is a regular speaker at Robbins’ Wealth Mastery, Business Mastery, and Platinum events, alongside Tony Robbins.
But What can you use? Why does it all matter?
The Best Decisions are Designed to Improve Profitability, That’s Right, Numbers.
Like Keith says, “if you don’t know the numbers you can’t tell the winners from the losers.” In business that’s deadly. If you’re reading this right now, grab your last two months’ bank statements and look at every transaction. Is there any bleeding going on in there? What can you cut? Are there any charges on there that you don’t need us, don’t need, or just somehow forgot about? What about payroll? The same applies. It’s not what you make that matters, it’s what you or your company keeps. Do you need help looking at the business decisions you are making and need a set of guidelines that have worked for me? Go to Gomcintyre, or call 1-844-246-8890 and we can help you create more profit! To start your journey improve profitability reach out to Gomcintyre!
Here are some of the focuses at Gomcintyre
- Helping businesses produce more revenue at lower costs and thus improve profitability.
- Creating consistent branding that captures your audience.
- Generating more leads. Building incredible marketing campaigns.
- Creating content that compels.
- Consulting on marketing and sales systems and implementation.
If You Can’t Execute, Read!
Reading might just be a hobby or a passive activity for many people but for Keith Cunningham, it’s an obsession. He has three books that we believe you should apply! They’re full of valuable insights and wisdom that will help kick start your business and improve profitablity. Keith’s books, The Road Less Stupid, and Keys to the vault are must-read content for new and seasoned entrepreneurs and business people. One common thread of all great success stories is that they take failure as an opportunity to become more, grow more, learn more. Of course also to improve profitability more!
It is Your Responsibility to Teach Your Staff to Conserve Money
Here’s a word that many people are familiar with but don’t know how to apply in their work-life: responsibility. If you want to be successful in business, then you’ve got to accept that you’re responsible for almost every decision made by your employees. When these decisions involve money, they impact even the most distant department because cash is fuel for business. Do you have a strategy in place to minimize costs, if so when is the last time you revisited it?
Not all Spending is Equal
Almost all of us love to spend money. There are people calling every day with every imaginable must-have product or service. According to Cunningham, there are two reasons to spend money, especially if you want to be a successful businessperson: (1) to keep the customers we have and (2) to get new customers. Pretty simple right? Keep that in mind as you check your bank statements for the last two months. Does this debit keep a customer or add a new one? If not cancel it!! The question with expenses is “what can I cut” without impacting sales or service. How do I maximize operating cash?
Success is all about EXECUTION! Improve Profitability!
People lose money because they make decisions based on emotions instead of facts. A great question to ask before deciding to invest is, “how will this decision impact long-term operating cash flow? For a deeper dive into Keith’s work, check out his 4-day MBA, an intensive program that seeks to teach budding entrepreneurs and business-minded people to learn critical skills. It’s easy to start a company but ensuring its success takes more than just capital and luck—it takes skills and expertise, which you can learn through the program.
Smart People Do Dumb Things
According to The King of Numbers, “the key to getting rich (and staying that way) is to avoid doing stupid things.” You’re going to make some bad choices in the business but if you keep making those same choices, then you’re in it for a rough time. In business, you need to make risky decisions, but you also need to know when to take the risk. Use your mistakes to get better, let go of your ego and allow the data to help you make better choices.
Conclusion Make the Decision Now to Improve Profitability
Starting a business is easy, building a money machine that feeds you are your family forever can be difficult. The key is to continually improve profitability. The best investment will always be the one you make in yourself and educating your team. Be afraid of becoming complacent and revel in those moments when you are out of your comfort zone and expand your business. Having the best marketing strategy can erase a lot of mistakes, just like having a terrible one can magnify other problems. Poor decisions left in place cause disastrous consequences. As Keith says, “it’s not just about making smart decisions-—it’s about making less stupid ones.”