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Complete these three courses first, after which you may request further access to the remaining courses.
Speeding in a Slowdown
All industries experience tough trading conditions from time to time. When things are slow business owners will often drop prices in an attempt to stimulate demand and cut costs to preserve precious cash reserves.These are WRONG things to do!
Small changes to key parts of the business have a significant impact on the profit that is generated. As a result of completing this course you will change your focus from sales revenue to net profit; calculate the true profit earning potential of the business; and outline the specific actions that need to be taken to achieve that potential.
The price you charge more than any other business variable has the greatest impact on the profit your business will make.
In this course you will learn it is possible to increase your prices without affecting your more price sensitive customers. As a result of successfully completing this course you will benefit from a significant and immediate increase in profitability and cash flow.
Good people are found in places where there are good leaders.
As a result of completing this course you will have established a new way of working with your team. You will have met with them both individually and as a group to explain your plans for the business and your expectations of their role in the development of the business.
The process is likely to bring to your attention areas of employee frustration that need to be addressed in order for the business to operate most effectively.
Think about businesses that you admire, ones that work like clockwork, have good employees, and seem to outperform their competitors. At the heart of their success will be a Customer Service System.
When you successfully complete this course you will have created a Customer Service System that will define how your business interacts with its customers at every point of customer contact; before the sale or service delivery, during the sales process, and after the sales or service delivery process.
If there is one thing that stands out as being the main reason why a business does not achieve its full potential then it is the lack of accountability of the owner or owners.That may sound like harsh criticism, it is not, it is a statement of fact. Because of the structure of privately owned businesses it is virtually impossible for owners to be accountable. In this course we examine that structure, compare it to the structure of successful large corporations and explain how the introduction of a Management Advisory Board is bound to increase profitability and reduce stress in your business.
When it comes to insurance the aim is to have adequate cover, not the cheapest premium. The same is true for accounting fees, although that is not the natural disposition of business owners.One of the reasons we insist our members complete the Pricing for Profit course before any other is because of the significant improvement in cash flow the course produces.We encourage our members to invest a portion of that cash flow into working more closely with their accountant, because when you do that, with the right accountant, the business will generate even higher levels of profitability, become more effective, and increase in value.In this course you will learn the benefits of working more closely with an Accountant / Business Advisor.
For some businesses more sales are last thing the owner needs, and for others new sales revenue is critical for survival. This subject is for owners in either position.As a result of completing this subject you will attract new A class customers and either transform or replace customers that do not fit your ideal profit profile.You will learn that winning new A Class customers is mostly about structuring methodical sales and marketing campaigns and following through on your plans.For those business owners that lack sales skills there is a section of the course that is devoted to providing some basic skills in this often neglected area. The material in this section would also be valuable for team members who are involved in the sales process.
At the completion of this module you will be able to clearly identify the main profit drivers of your business (they will be different to what you think they are); set weekly performance targets in respect of the profit drivers, monitor performance relative to the targets, and take corrective action as required.