Knowing Your True
Profit Boosters

One of the annual exercise in our company, and with our Club 28 clients is to re-evaluate and pinpoint the true, current areas of greatest revenue or potential revenue.

Focusing on these area's has been a core factor in the monthly growth of each company, and continues to be one of the top 3 topics requested when I speak at company meetings across the globe.

The first of the 10 essential questions every CEO or business owner needs to ask themselves is listed below. These 10 questions will help walk you through the same exercises we do in our annual 3-day meeting.

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1. List your current income streams.

• List every subset of your current income.
• Which are the easiest to grow?
• Which gives you the most profit/money?
• Maximize each income starting with the easiest that give you the most.
  • Spend the most time on growing the area's that pay you the most.
• List the incomes that are the hardest and pay the least
• List your activities that waste the most of your time but are necessary (delegate)
• List your activities that waste the most of your time and are not necessary (delete)
  • There's nowhere near enough time in the day to do everything necessary to grow anything more than a small business, so…
• Only work on the essentials (only work on things that are essential to your success - to get you to your goal)
  • What are the top 5 most essential tasks for YOU to be focusing on?

Most businesses spread their attention evenly across every product, campaign, and customer. That means mediocre results across the board instead of exceptional results where it counts. This exercise forces you to stop spreading thin and double down on what actually moves the needle.

In every company I've advised, the pattern is identical: 20% of their products or services produce 80% of the profit. And yet they're spending 70% of their time, attention, and budget on the other 80%. When a CEO and I map out where every dollar of profit actually comes from - not revenue, but net profit - they're almost always surprised. The things they thought were the backbone of the business turn out to be the most time-consuming parts with the thinnest margins.

The first profit-booster question to answer: which product or service generates the most net revenue per hour of team time invested? Not gross revenue - net. And per hour, because a product generating $100,000 in revenue with 500 hours of labor is less valuable than one generating $60,000 with 40 hours. Once you identify that product, the question is: what happens if you double the resources behind it?

One thing most companies miss entirely: every marketing dollar should have at least three ways to generate profit from it, not one. If you spend money acquiring a customer and that's the only profit path, you're operating with a massive handicap. The companies that scale fastest look at a single marketing investment and see multiple revenue streams simultaneously - direct sales, email list growth, referral generation, retargeting, cross-sells, and partnerships. Each customer should open at least two or three revenue doors, not just one.

The annual review is what separates growing businesses from plateauing ones. The profit boosters in your business today are probably not the same ones from 18 months ago. Markets shift, costs change, customer preferences evolve. If you're not doing an annual deep-dive into where your profit actually comes from - and updating your focus accordingly - you're running on outdated intelligence.