One of the quickest ways to grow your business's top and bottom lines at the same time!
No, you don't need a flashy new offer, more discounts, or more clients/customers...
It's starts with what you have.
First you need to know what your most profitable products or services are, but to take it to the next level you ALSO need to find out who your most profitable customers are.
Here's how to do it...
๐ Step 1: Break down your revenue by:
๐งพ Product
๐ ๏ธ Service
๐ฅ Client/Customer
๐ฐ Step 2: Subtract the true costs from each of the revenues
โ
Direct expenses (materials, software, shipping, labor)
โ
Time spent (yes, your time counts!)
โ
Hidden costs (revisions, refunds, customer support)
๐ Step 3: Calculate your profit for each using this simple formula:
(Revenue โ Costs) x Units Sold
๐ Step 4: Identify your MVPs
- Which clients or customers drive most of your profits?
- Which product or service drives most of your profits?
- Which product has high repeat purchase + low cost?
๐ช Step 5: Double down on what works
๐ฅ For the MVP products and services, promote those to your existing customer base not buying them
๐ฅ For the MVP customers/clients, dissect who they are and what they are buying, then target "like" companies/people
See! You don't need to do anything new. You just need to optimize what you offer today!