All GuidesInterviewsNewsOpinionPatch NotesResources
Back To Posts

Value Added Ep.10 – The Fastest Ways to Make More Profits

#News

10 Aug 2020

0 Comments


What will you do with all the extra profits you make after listening to this podcast?

Who doesn’t want to make more money fast?

In the tenth episode of the Value Added Podcast, Jonathan and Jarod share their strategies for squeezing more cash out of your business.

No courses to buy, no pitches for products…

Just the straight dope on how to maximize your profits now.

KEY TAKEAWAYS

  • More clients may equal more revenue, but it doesn’t always guarantee higher profits. As your client base grows, you’ll most likely have to hire more people, upgrade your software packages. As the owner, your workload and stress levels are also likely to increase.
  • Many businesses find themselves at the point where they’re too small to scale massively but too big to stay the same. At that moment, it’s crucial to maximize your profits so you can use them to scale the business up further.
  • The quickest way to increase your profits is to cut your expenses. Take a hard look at all of your recurring costs. Do you really need that fancy CRM software given the size of your operation?
  • Consider whether existing team members can handle some of the tasks you’re currently outsourcing.
  • Eliminate redundancy and mistakes in your business as much as possible. One way to do this is through automation, and Jarod is an expert. Here’s his post on using Screaming Frog to automate technical SEO processes.
  • The most obvious way to boost profits is to raise prices. But many business owners are reluctant to do that because of the potential negative impact on retaining clients.
  • Don’t over or undervalue your services. Charge the price you must to confidently deliver the best product or service. Knowing that your price is fair for what you provide should also boost your confidence when pitching clients.

“If you’re consistently asking for more money and you’re getting a lot more nos, well, either there’s an issue with your sales process, or there’s an issue with your prospects where you’re either not confident enough, or your sales skills just aren’t there, or maybe your presentation isn’t there.” Jarod Spiewak

  • Jarod highly recommends Profit First, by Mike Michalowicz.
  • If you have clients on a subscription model, always strive to get a credit card on file for billing. Chasing invoices wastes time and money.
  • In the long run, you’ll save a significant of money and time by hiring a professional accountant to do your books and taxes and a lawyer to draft your contracts. Trying to save money by doing these things yourself can end up being the biggest mistake you’ll make with your business.

In the Q&A section, Jonathan and Jarod tackle the dangers of “scope creep” and how to say no to clients who ask you to perform tasks that aren’t covered under your contract.

Subscribe to the Value Added Podcast — featuring SEOButler founder Jonathan Kiekbusch and Blue Dog Media head honcho Jarod Spiewak — to be notified about future Live Streams and Podcasts.

0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Like the article? Read some more: