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002 - Take Stock of Everything - You need to look at the whole picture

TAKE STOCK OF EVERYTHING

The Lesson - what is good/bad about what I do and how to i start to straighten it out. If you don't take a real picture then you may be ignoring the issues that could help you the most.

Welcome today what i want you to do here is very simple.

I want you do write down anywhere you lose money or Sales.

Inventory Shrink?
Inventory Spoilage
Lost Orders
Marketing
Sales
Too slow to Respond to Customer Requests
Too Slow to get bids out fast
Internal Errors that upset customers.
Taking bad deals to meet overhead?
Too much overhead?

I want you to detail it out so we can get under the hood.

Then i Want you do list out your customers and how many hours are spent on them and what you do in total sales,  how much time is invested and what you net on them.

We are looking for areas of Loss and areas of Waste. I have had to fire customers before because they were taking a majority of my time and hold results back.

Who takes too much of your time with not enough Return?
What are your losses and what can you do to fix them?

I worked with one company that every time he got a deal he took it at all costs. His line was well we need showplaces and my response eventually became not on my time. I was doing the work to produce the products so he would promise anything for a deal that usually turned out as dead ends for future revenue.  Needless to say we do not work together anymore.

Work to your skills and outsource your weaknesses.. They have plenty of experts on here to help you once you begin to identify opportunities.

I also want you to start thinking about reoccurring revenue and how you can build a foundation on it. I want you to get to a point where reoccuring revenue covers all your overhead and everything else is profit.



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