Understanding the Power of the 5 Ways

When we are caught up in the “busyness” of our business, we often fail to stop and take a look at our progress so far, our potential for growth or even the routes that we can take to achieve growth.

There is a very simple formula, which, if applied to your business in a practical way, will deliver massive results to you every year.
So why is everyone not doing it? The answer is lack of knowledge, lack of commitment to change and no focus on targets and results.

At ActionCOACH, we follow the 5 ways with pretty much every client that we have.

The 5 ways unlock profit in your business and in many cases, it need not cost you a thing to implement. The other impressive thing about the 5 ways is that the benefits can be permanent. They can be repeated year after year. They can be taught to almost anybody.

So why is everybody not embracing them and putting them to the test? The biggest reason is resistance to change and resistance to personal change. I’ll explain this as we go through the 5 ways.

In business, every business owner or manager is aware of the number of customers that they have, the turnover that they have and in most cases the profit that they make.

But very few know how they got to these results and they certainly have no stats or records to back them up.

The 5 ways deal with the “how” to get to the results.

(1.) Lead Generation multiplied by (2.) Conversion Rate
= Number of Customers

So when you look at your number of prospective customers and you multiply this by your conversion rate (i.e – from every 100 enquiries that you get, how many become customers) – this gives you your number of customers.

Then, take your customers and multiply them by (3.) Number of Transactions and then multiply them by (4.) Average Value of Sale – This will give the turnover figure.

So if you have 100 customers and they all buy off you 10 times a year and each time they spend 1000 with you – you have a business turning over €1,000,000.

Take your turnover and multiply it by your (5) net profit margin – this will give you your profits.

So – take €1,000,000 and multiply it by Net Profit of 20% and you have a profit figure of €200,000.

All very straightforward – you might think.

There are over 350 business strategies that can be applied to the “5 Ways” to drive a business. AT least 50 will apply to your business, whatever business that is.

“That would not work in my business – my business is different” this is the usual defence followed by “I tried that and it did not work in my business” – this is the biggest crime every committed in a business.
The reason we hear this is because people never Test & Measure the effectiveness of their efforts and then very quickly go into blame and excuse mode.

As we work with our client, we teach them how to implement strategies that once in place, continue to deliver results time after time.
And do you want to know the best part?

Most of the strategies that can be implemented in the 5 ways have Zero cost.

Get in touch today for your FREE 5 Ways consultation and start the process of realising massive profit from your business.