29 Apr The Five Keys that Unlock Profit
The Five Keys that Unlock Profit
Simon Wallace | 29th April 2014
Unlocking profit is a challenge facing every single business determined to survive and prosper. Cash is king, but profit means the opportunity to collect cash, prosperity, and better still the opportunity for you to reward and develop a happy group of people. People charged to deliver your results and sing the praises of being part of a great company.
I’ve been employed to generate profitable sales for more than 24 years and rely entirely on the following five keys from which to generate and select ideas that we turn into the action to unlock profit:
- Leads
- Conversion
- Transactions
- Average US$ Sale
- Margin
This is commonly known as the profit equation, Profit = Leads x Conversion = Customers x Transactions x Average US$ Sale = Revenue x Margin
Relax unlocking profit is now very simple but still really hard work!
About the Author
Simon Wallace is founder of The Whole Thing Group and passionate about performance improvement. Creative entrepreneur and trusted advisor to some great companies that are achieving great things.
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