Why Gross Profit Will Result When You Correct These Three Common Mistakes!
So it’s no running secret, that literally tons of aspiring startup entrepreneurs, of all shapes and sizes.
From time to time, temporarily operate their enterprises at a loss, correct?
For whatever reasons, sales revenue, doesn’t quite cover ongoing expenses.
And this is pretty common place, for practically any startup venture.
Especially in the beginning, is it not?
But rest assured, your gross profit will result if and when, you correct (asap), these three, all too common mistakes, which temporarily handicap, far too many aspiring entrepreneurs.
And on the flip side, if your semi cash strapped small business and or service, continually loses money, because your gross sales revenue and or razor thin profit margins, simply can’t or don’t cover all of your ongoing expenses.
Unless something changes really quick. You’re most likely headed to bankruptcy!
The Average High Profit Business Probably Didn’t Start Out That Way!
Unfortunately, far too many aspiring entrepreneurs, initially make extremely lofty sales projections.
And your sub shop, which needs to average at least 45 foot long subs a day, to even approach breaking even, barely sells twenty a day.
So as a direct result, this consistent lack of front end profitability. Ultimately leads to, anxiety and stress galore, because you really have no reserve working capital, to carry you through the inevitable hiccups.
And as a direct result, these ongoing losses, quickly pile up, and become a mountain of insurmountable debt.
An Aspiring Small Business Owner And Or Service Provider Definitely Needs To Eliminate The Phrase Get Rich Quick From Their Vocabulary!
Without a doubt, early on anyway. The all too typical, semi cash strapped small business owner and or service provider, (and or) aspiring entrepreneur definitely works hard enough, to get rich quick. Right? 😀
However, the all too grim reality is, they have outstanding invoices, which have yet to be paid.
And they have extremely limited lines of credit, which often times, simply can’t cover their necessary expenses, and or help fund heir much desired expansion.
They frequently work long hours, for minimum salary and they often cut necessary investments. Like their marketing and or advertising plan, in order to fund other necessary business expenses.
So much for retiring early, correct?
You Won’t Be Building Any Passive Income If You Can’t Pay Your Outstanding Bills!
Most semi cash strapped small business owners and or service providers, almost never, consistently earn a dime on the potential back end of their business and or service.
Especially, if they’re constantly struggling, to make and or maintain, any type of ongoing profit, on the initial front end of their business and or service.
Of course they’re working incredibly hard, trying to keep the doors open.
But because they constantly wear many different hats, it’s not exactly easy, to stay on top of every aspect of their business.
In Order To Be Your Own Boss You Definitely Need To Know What Has To Be Changed And What Has To Be Continued!
Case in point: Here are three all too common reasons why, only a handful of startups, every make it past consistently breaking even. On average, only about 30% of all resourced challenged small business owners entrepreneurs routinely break even.
And another 30%, typically operate at a loss, until they’re forced to close their doors permanently. So here are three primary reasons why, the cash flow of your entrepreneurial endeavor, may not be as reliable, as it can or should be.
1.) Potential reason # one: Sadly, far too many small business owners, don’t realize and or fully appreciate, the full impact on their bottom line, when they have inadequately trained staff.
Or the constant employee/staff turnover.It’s extremely costly, especially long term, to any semi cash strapped small business owner.
On average, it typically cost about 300% more, than the employee/associates salary, to keep changing staff members.
And what cost conscious entrepreneur, can truly afford that?
Typically The Best Business Ideas To Make Money Are Usually Pro-active!
2.) Potential reason # second: If the technology you use to run your business and or service, is slightly and or completely out of date.
It’s definitely costing you money, because of lower efficiency, plus in the eyes of your current and future prospects, your business and or service, appears to be out of step.
And this type of impression, definitely causes your prospects, to jump on social media, voicing their concerns and or complaints.And of course they continuously share their thoughts, as they’re gathered around the water cooler at work.
3.) Potential reason # three: And finally, lousy customer service, is definitely a huge potential drain on your ongoing cash flow.
Because on average, an unhappy customer, will typically tell anywhere from 10 -15 people, about their negative experience with your business and or service.
And even more on social media. 😀
And the long term affect is, your bottom line, simply can’t afford to consistently miss out, on all the potential income. Don’t you agree?
So There Definitely Is No Get Rich Quick Button, Correct?
So for these three primary reasons, gross profit will result if, and when, you address and or correct these ongoing issues. So get to it already.
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can
apply to your business, product or service in the next 30 days or less!
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