True But Useless
Have you reviewed your business this year and realised that most the problems you have can be fixed if you just could make more money?
This information is TBU (True But Useless). It can also be overwhelming and demotivating – because it gives no hint on how the task should be tackled or even where to start.
So how do you turn this ‘revelation’ into something more useful?
Firstly we need to define what we mean by ‘Make more money’. Does this mean more net profit, gross profit, revenue or perhaps a combination of all three?
Rather than looking for a silver bullet and trying to get all the extra money you need from one place, it is usually much easier to find smaller amounts in multiple places.
This means identifying separate strategies for increasing the top line of your P&L (eg how to increase unit sales), the middle line (eg how to increase prices or reduce Cost of Goods Sold) and the bottom line (eg how to reduce overheads).
That is specific objectives and clear actions to achieve them rather than the original TBU solution. This will give you a clear pathway to achieving your original vague goal: To make more money.
When clear strategies are identified, the solutions you create are TAU – True and Useful.
All you need to do now is to Empower yourself and take action …
May Your Business Be – As You Plan It.
Dr Greg Chapman – The Profit Whisperer
Learn more about how these marketing strategies would work in your business when you request a Free Preview copy of the best selling Small Business book; The Five Pillars of Guaranteed Business Success
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