While that sounds reasonable, it’s only partially true. In actuality, there are a number of other things that any business owner can do that will enable their business to be more sustainable and add more profits to its bottom line.

Here are 5 simple, easy to do, but often overlooked or undervalued examples:

Step 1: Control or Reduce Expenses

Getting a handle on the things that drain money from a business’s bank
account is critical. Most businesses have an incredible amount of unaccountable waste, not only in actual dollar loss, but in human capital in the form of lost or wasted time by employees, staff, and even management.

Keeping a very tight reign on all expenditures is not only a smart thing to do but it’s absolutely critical to adding to the profitability of the business. Money, no matter how large or how small the amount, should only be spent after careful consideration and analysis as to how it will contribute to the bottom line profits of the business.

One of the biggest money wasters is in the area of advertising and marketing. Careful testing of ads and promotions should be carried out in small runs before “rolling out” to the entire list of prospects, clients or customers. Direct response ads with enticing and compelling offers should be tested against more traditional image or institutional ads, and measured in terms of quantity of responses and monetary production.

When you consider how much it costs to bring in a dollar of actual profit and then see how easy it is to spend that money without getting a positive return, it’s understandable to see why so many businesses have a difficult time showing a positive balance at the end of the year.

Step 2: Increase Profit Margins

Profit margins are the difference between what a particular product and service costs to make, produce, purchase, or acquire, and what it is sold for, and after deducting sales, processing, fulfillment, and delivery costs. The more steps there are in the process from production or acquisition to delivery, the more room there is for excess costs to creep in, and hence, the lower the margin of profit.

Every effort should be made to monitor, control and slash costs whenever possible. Remember, a simple two-dollar savings on a twenty dollar product can add up to 20 percent more profit.

Step 3: Create A Teamwork Approach

Businesses cannot afford to be run with a “super-star” mentality. Just as in any team sport, to be truly effective, it takes the entire team to make a company run smoothly and efficiently. Want to know how to make any company more responsive to the needs of its customers and prospects? Hold a team meeting. Invite people from every department – sales, manufacturing, accounting, fulfillment, delivery, even janitorial.

Have a brainstorming session and get every idea possible on the table. Don’t be judgmental. Get them all out. Then go through each idea and discuss how it can be used to more fully satisfy the needs of each “level” or segment of customers and potential customers. Sometimes the best ideas come from completely unexpected
sources.

Step 4: Manage Time More Effectively

Every person has exactly the same number of hours, minutes
and seconds in their day. No one has an advantage in this area. It’s true that different people have different jobs, tasks, priorities, and responsibilities, and those all require different amounts of time, but the amount of available time can significantly be increased by simply taking stock of what a person is spending their time on, and then
effectively employing the principle of delegation.

If each person were to concentrate on things that matter most or that only they can do, and then delegate the lesser important tasks to the lowest competency level – that is, the person who can handle those tasks effectively, efficiently and most cost-effectively, there will be more time to focus on the important priorities – the things that can produce greater results and more profits.

Step 5: Increase The Staff’s Knowledge And Competence

It’s not uncommon to call a business and ask a question seeking help or assistance, only to have the person on the other end of the phone act like they had no idea of what the caller was talking about or where to get the answer. It happens all the time.

Knowing how to hire the right employees is becoming increasingly critical, as is ensuring that they’re adequately trained to handle a variety of (oftentimes, unexpected) situations. It’s surprising how few businesses have regular (what seems like) old-fashioned staff or employee meetings. And for those that do, most of their meetings
have to do with administrative duties, and are “reactive” in their approach.

Changing the focus and conducting meetings that more pro-actively deal with difficult situations, how to sell more effectively, and how to show appreciation and concern to customers, will not only improve the morale of the company’s image, but it will also be a contributing factor to the business’s profitability.

Your homework try implementing one of these ideas and let me know how it works in your business.Your comments, feedback and suggestions are always welcome.

2010 New Years Eve top 9 Personal Resolutions were:
1. Lose weight
2.Get more exercise
3.Quit smoking
4.Learn something new
5.Enjoy life more
6.Get out of debt
7.Help others
8.Quit drinking
9.Get organized

Did you make a couple of these New Year’s Resolutions? My guess is yes. What’s the problem? Let’s take the #1 resolution of losing weight. Why is that not working? Here’s why…

 Set Your Goal
To reach your goal, you must first set your goal. Your goal must be reasonable, specific and measurable. It is not enough to say “I want to lose weight”. You must quantify how many pounds you want to lose and in what timeframe.

Here are some building blocks to help you set and reach your 2010 goals:

 Define your goal:
Be as specific as you can about what you want to achieve. For example I want to lose 10 pounds by March 1, 2010.

 Outline the necessary steps to achieve your goal:
Once you have determined where you want to go you need to figure out how to get there. Map out the steps needed to reach the goal. For example, I plan to lose 2 pounds every week. It is much better to underestimate what you can do then to set goals you can’t reach. Be conservative at first until you build momentum and see your results skyrocket.

 Set a timeline:
Your goals and your timeline must be specific. Get a calendar and record your progress daily. Write down even when you miss the target or how will you be able to measure how you are doing.

 Ask for help:
Consult an expert or a friend who has done it. This is mission critical to your success. Taking advice from a person who has never had to lose weight doesn’t work. Next make sure that person or expert has consistent measurable results such a three history of keeping the weight off after they lost it. This proves the expert has a track record of success with this challenge.

 Consider possible roadblocks or delays that might happen:
Life is a journey of unexpected delays. You need to prepare yourself and be aware that no matter how good your intentions are life will get in the way. “I was doing great…until I received the upsetting news.” “I got sick.” The list of possibilities is endless. Like a student preparing for homework…be prepared for these setbacks.

 Reward yourself:
This is so important and overlooked by most people. For example say for every 3 pounds I lose I will take a day off from dieting or treat myself to my favorite junk food. Then get right back into your routine after your reward.

 Write it all down how you will get there:
Text messages don’t count. Make an outline as if you were in school. Don’t use the excuse, “I know how I am going to do it so I don’t need to write it down.” Yes you do! The very activity of writing it down will help you reach your goal. You will organize your thoughts and prepare your subconscious mind for how you will get there. Now place it where you can see it every day. Next read it out load at the beginning of each day to reinforce your goal.

 Take an action step:
For things to change in your life, you must change. It is not enough to just think about something or talk about it. You must act on your intentions. For example, “I will not buy nachos” is not enough. Add to that sentence… I will bring my reminder card with me every time I go to the grocery store.” You see the difference? Just thinking about refusing to buy nachos is not enough. Commit to an action step.

Whatever you do…Don’t give up! Most people give up way too soon…even people close to reaching their goals.

What’s this have to do with your business? Everything! You must do the same steps for your business as for your personal life. You must take charge and responsibility for your actions. Only you can make it happen that 2010 is your best year yet.

As always let me know how you are doing with your personal and business goals.

It’s no secret that consumers are watching how they spend their money. And with the wide variety of choices your customers or clients have in obtaining similar products and services from different companies, your business must stand out. Ask me any question you have to improve your fourth quarter earnings at http://www.youtube.com/user/profitsmakeover and I will provide you with a personal video response.

It stands to reason that the more skilled and professional you are at meeting your customer’s needs, the bigger advantage you can command, and the more effective and successful you can become even in this down economy but you must take action.

If you’re really going to be effective and successful in this economy, it is vital, that you continually change, improve, adjust, and update your selling skills and service.

It has been said, “People don’t care how much you know, until they know how much you care.”

One of the best and most effective ways you can show your prospects and customers you care, is by helping them solve problems in cost-effective and professional manner.

You have the rare opportunity as we approach the holiday season sales end of the year rush to ask me any question regarding your business valued which is a $447.00

Click the link to access to me personally at http://www.youtube.com/user/profitsmakeover

What is that all about? Why did I want you to watch that video?

Because there’s a great lesson in that video that applies directly to how you present your message… the message you want your customers and clients to see, understand and come to the inescapable conclusion that you have what they need and more importantly what they want right now and that they’d be absolute fools to miss out on this opportunity to do business with your company right now if they didn’t contact you to get it.

Too many times business owners, professionals and entrepreneurs try to be subtle or understated in the way they present themselves and their message. And that’s a BIG mistake. You’ve got to be very clear and very plainly let your customers, customers and patients know exactly what you can do for them and what steps they need to take to learn more.

There is no value in hiding or disguising your message because you’re modest or because you don’t want to come across as “salesy.” Do that, and you’ll surely lose opportunities and clients.

One of the most powerful marketing and positioning tools I teach small business owners is what I refer to as the “ProfitsMakeOver Marketing™ Audio Business Card.” The purpose of this “ProfitsMakeOver Marketing™ Audio Business Card” is to provide the listener… your prospective client or prospect with a thumbnail sketch of who you are, what you do, and how you can be of benefit to them.

It should be informational (tell what you do), short (no more than 12 to 18 minutes), a
compelling way to showcase your business (make the listener say, “Wow! Makes sense. I want more information.”)

One of the biggest problems small business owners make when putting their marketing message together is trying to accomplish too many things. The result is that the main message is lost in the clutter.

When your message isn’t clear… when you don’t make a compelling case for what you do… for the benefits your prospect can get from working with you… when you focus on too many things and your prospect can’t focus on the main benefit you provide… they may miss the “moonwalking bear” – the real reason you put the “ProfitsMakeOver Marketing™ Audio Business Card” together in the first place.

If Myspace has restructured that Tom is no longer going to be the face of Myspace because the site has lost its edge to Facebook.

It’s time for you to stop being scared about the economy. Stop listening to the news; change the channel. This is your wake up call.

Do you even know who your competitors are? ProfitsMakeOver’s new cutting-edge research shows that 95% of businesses today are absolutely clueless as to who their ‘true competitors’ are. If your business is in trouble I want to hear from you.

We put together a “Competitive Intelligence Report” that shows you exactly who your competitors are and how to make your competitors hungry for new customers while you literally steal away their customers while they are asleep in their business.

Our 100% results guarantee is like no one else in the business. Is this self-promotion you bet but if you are not passionate and all fired up about what your business has to offer then you need to reevaluate why you are still in business.

Co-founder of Twitter Biz Stone states, “Twitter provides a new way of messaging; it’s the messenging service we didn’t know we needed until we had it.”

John Colbert replies, “That sounds like the answer to a problem we didn’t know we had until I invented the answer.”

Biz responds, “If the telegraph was good enough to send then it was worth sending on a horse.” John questions, “What’s the Twitter business model?”

Biz confidently states, “We recognize the difference between profit and adding value. We are building value…Right now value means extending the service worldwide where more people can have access to the network…There are over 4 Billion Phones…As we grow the network to interface with texting and the internet it becomes more valuable….

Stone is going to experiment with the google revenue method to its Twitter application in 2009. And perhaps most important explore and test the results until he finds the right revenue model for Twitter.

So what does this have to do with your business? THE BIG TAKEAWAY

1. In 2009 into 2010 your business is going to have to solve a problem that the consumer doesn’t know exists or a solve a problem that the consumer can’t find an answer elsewhere.

2. And if the answer is offered in the marketplace how will you differentiate it and make it the only logical choice that the consumer must have right now.

3. Probably what is most important lesson in this clip is to recognize you must add value first and the profits will flow. However, you must have: patience, passion for your idea and keep cost-effectively testing your marketing until you get the right mix.

Look at your business and let me know how you will solve a problem for the consumer that makes your business stand out while adding value as well.

If your business is in trouble, I am here to tell you right now there has never been a better time in history to implement simple, easy and cost-effective strategies that can change whether you will remain in business in 2009. Why? Because your competitors are operating out of fear in the marketplace. Take advantage of the situation instead of falling prey to the media hype.

All too often business owners are too close to the problem to find the answer or make that small tweak in their marketing mix that can skyrocket their business from barely surviving to seeing dramatic results to their bottom line profits in 30 days.

Business owners frequently tell me that they have received genuine breakthroughs as a result of receiving another opinion. The business owner was too close to concentrate on looking at and solving the problem that the business is struggling with.

Take these 3 Easy Steps to get the most out of our new ’20 Minute Onsite Business Strategy Evaluation’.

1. Write down the problem, challenge, or situation you want to discuss or that you need immediate help with in your business.

2. What you have done to solve, satisfy, or overcome the situation.

3. The results you have gotten (positive or negative) and what you think the reasons are.

If you do not make the time now to watch this 5 minute video then you have only yourself to blame for the dissatisfactions in your life and in your business. If every leader has read this book I am giving you the opportunity to watch this video. If want things to change it starts with you.

Napolean Hill dedicated his life to success. This 5 minute video is dedicated to him and his message brought to you by Wiley Studios.

I believe Sir Richard Branson is correct but bipartisanship sounds good but are the politicians ready to bridge the gap.

President Barack Obama yesterday pitched his economic plan at a Caterpillar Inc. plant in Illinois troubled by impeding layoffs expected to go into 2010.

The $790 billion stimulus plan is nearing votes in the House and Senate. The package of spending programs and tax relief may soon become law with Obama’s signature. However, what we have seen are there are still major ideological differences between Republicans and Democrats and bipartisanship isn’t everything.

Congressional deliberations over President Obama’s economic recovery package, have shown us that historians and politicians are comparing our economy and its politics to the New Deal.

Republican Senator John Ensign of Nevada opposes the bill, arguing that government spending cannot reverse economic contraction. “History has proven that formula is a failure. We saw it in the Great Depression. You cannot simply spend your way out of a recession or a depression,” he said.

An economist at Washington’s CATO Institute, Dan Mitchell, says the New Deal actually made the depression longer and more severe by saddling the nation with a heavier government burden.

“The New Deal policies extended the Great Depression by seven years. We should not follow that model of failure,” said Mitchell. “The 1930s are a roadmap of what not to do, because all the [government] interference, all the intervention, the higher tax rates, the increases in government spending kept our economy from recovering. Politicians got in the way of the private sector.”

Historian Alan Brinkley of Columbia University has written extensively on the New Deal and its lessons for today.

“The [New Deal] spending was never large enough to compensate for the loss of wealth that the depression had created,” said Brinkley. “If you want to counteract a severe recession, you have to take big measures to generate economic activity. And I think that is what the stimulus package is designed to do.”

While everyone has an opinion on the stimulus package it is clear to me is that ultimately what will pull us out of the economic crisis to a large degree is entrepreneurs. Therefore, with the information I have as of this writing of the post I agree with Sir Richard Branson.

Never before has there been such opportunity for new businesses to start out of the necessity to creatively think to make money. Our greatest growth whether it be financially or personally is when the pain is so great we are forced to make a change.

*Source quotations above By Michael Bowman Washington 11 February 2009