John is a new client to our firm. He is an engineer and very private so he prefers not be in the spotlight however he did approve me sharing his story with you.
When I met John two months ago, he introduced me to his business in the email marketing space. John was profitable but only to the tune of 20%. A 20% profit is just not enough, in my opinion. He should be making so much more profit. We spent two digging into every aspect of his business.
We found two key areas to make significant changes. Firstly, John needed to raise his prices. His flat fees offered so much value. Raising prices is always a challenge and scary step. What if no one buys at the higher price? Well we don’t know until we try. We increased prices on all three packages that John offers.
Our second strategy was to change his team from being paid hourly to being paid by the project so that we could manage our costs and our Gross Profit. Again, a big bold move as John had to meet with team members and explain the new flat fee plus bonus system. No one left. His team were all willing to give the new way a go.
Here we are, one month later and John has doubled his profit! John followed up on all our strategies and he has the cash in his pocket to show for it.
Are you ready to make some bold changes in your business?