Five Ways to Boost Your Business Income

Profit is the result of your business’ turnover multiplied with your margins. In simple term,

Profits = Turnover x Margin

Turnover is determined by how many customers you have multiplied with the number and average dollar sales of each customer. Thus,

Turnover = Numbers of customers x Transactions x Average dollar sale

Your lead generation rate and the conversation rate of these leads will determine how many customers you have. Thus,

Number of customers = Conversion Rate x Lead Generation

You will be able to see how your business profits are governed by five variables.

1. Lead generation

2. Conversion rate

3. Number of transactions

4. average dollar sale 5. margins

The formula was devised by experts who found that doubling each factor can increase your business’ profits by 67%.

Putting Theory into Action

This formula seemed so easy that I was astonished no one had ever taught it to me before. The results were truly amazing when I put this theory to use. I made minor adjustments to my practice, and within six months, my turnover had increased by 20%.

Summary

How much increased profit you can generate for your business depends on your ingenuity and creativity in improving your lead generation,conversion rate of your lead, the number of transaction per customer,the average dollar sale and your margins. These are the only factors that matter.

These 5 factors will ensure that your business income is increased.