Donna Reade

QuickBooks Online Consulting & Bookkeeping

Profitability and Cash Flow: A Matter of Choice?

ChoicesHave you ever considered what’s behind your business profitability and cash flow – good or bad? Is it a matter of outside circumstances, the competition, or something more elusive?

I believe that it really comes down to a matter of choice…and action.

Most people (unintentionally) choose to act like victims when money gets tight, and blame outside forces that they feel are beyond their control. Unfortunately, when we choose the role of a victim, we get a victim’s results.

The biggest influence over your business success is you and what goes on in those 8 inches between your ears!

How to Make Better Choices
First choose to change what you focus on.

As we’ve all heard many times by now, historically, there are businesses that make their fortunes in bad economies, or people who were facing mountains of disadvantages that have become brilliant successes. That just proves that how well your business turns a profit is not dependent on favorable conditions. So the question is: How exactly can you and your business succeed with plentiful profits and cash flow?

Are you willing to consider a new point of view, especially if it can have a positive effect on your business?
The way to shift away from a negative, reactive mode (where most everyone else lives) and become proactive is to ask new questions.

Start Asking Better Questions
What new opportunities have any new or even sagging conditions caused, or could cause, in your marketplace?

Under the current conditions, how can your services or products be used in new ways that will help your clients thrive?

What pains or problems can you solve from your clients’ perspective (possibly in a new way) based on what they want most right now?

Brainstorm your answers and write them down.

Who Are Your Clients and Who Else Could Be Your Clients Now?
Part of the shift in focus may need to be in who your clients are. If the market you’ve been serving is now inclined to cut back on using your services, who else might be MORE inclined to come your way because of the current business climate?

Are there potential clients from a higher income level who may now consider what you have as a wonderful way of cutting back?

Results-Focused Actions You Can Take Right NOW!
Okay, now it’s time to get out of your head and into action.

The first place to start is to overhaul your marketing message and/or your services to meet the revised needs of your clients and prospects.

Make your offer and track your results. Then improve from there.

Make Your Choice and Get Going
Commit to scheduling time this week to brainstorm the new opportunities that are now available to you. Then get into action quickly and let your clients and prospects know about your new offerings and/or re-designed business.

By choosing a positive, proactive mindset and taking decisive, focused actions, you will automatically be moving in the right direction. Opportunities are abundant, when you choose to go find them, harness them and leverage them to boost your profitability, cash flow and ultimate business success!

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