Up to speed or just chugging along?

On a speed awareness course last week (46 in the 40 limited A14 road works at Kettering, 11.30 at night, quiet road…) the group of about 20 was asked … on a scale of 1 to 10 how good a driver do you think you are? Where 1 is ‘leave your keys and walk home’ and 5 is the average driver’.

Now, this was interesting for a number of reasons. When I have been asked the ‘on a scale of 1 – 10’ self-awareness question before to measure, for example, health, sporting activity, pensions adequacy, or just to feedback on the quality of hotel staff – I and I’m sure you have been told how poor the 1 is and how exemplary the 10 is.

But this course left its delegates to consider the values of 6 to 10 – just how good is 10 and how do you realistically measure it? Is excellence achievable?

This utterly mixed bag of social, age, sex, occupationally occupied and retired driving offenders answered 4, 5, 6 and a couple went as far as 7 – but nobody dared admit levels of perfection beyond that … and I’m an exemplary driver, it was just bad luck / one of those things / a lapse of concentration that I got caught.

In driving, the rules are clear and they even put signals and signs up all over the place to remind you and keep you on the straight and narrow…

…but in business management, there are no rules and signs, or if you see one (from the bank or solicitor) it’s probably too late.

Now try this question from the business driving seat:

On a scale of 1 -10 where 1 means you shouldn't be running a business and 5 means you’re just chugging along ‘but know you could do better – it’s just one of those things, but you haven’t been caught out … yet!’:

How well do you run your business?

Is it as profitable as it should / could be?

Are you generating enough qualified enquiries?

Are you converting the right type of client or customer?

Are you maximising the profitable returns on business turnover?

How good are you at stepping back to review the way you manage your affairs?

(And here’s a possible 10…) How much does business success equate to lifestyle achievement?

We can help you make a profitable difference to the business you run in exchange for a little of your time – time to work ON your business rather than just IN it.

We have the magic 7, aka the & Step Profit Multiplier

These are 7 determinable, manageable, changeable points each of which a relatively small change in business and marketing attitude / effort will increase the profitability of your business. Changing all 7 could (and we do mean could) increase your profits by 86%.

‘Hmmm’ – I hear you say (amongst other un-bloggable comments) and so did I when I first saw it. But it is very difficult to look at the platform without at least being intrigued and at best being inspired.

These are:

1. Number of leads
2. Conversion rate
3. Transactions per conversion
4. Transaction value
5. Profit margin
6. Number of referrals
7. Lifetime buying cycle.

The Profit Multiplier suggests that: ‘just a 10% increase in each of the 7 ‘Alchemy Keys’ would give an 86% overall increase in profit’.

Could this take my 5 score, to a 10 … well via the 7 it just might.

Well, we’re OK with the theory, but in practice every business (even within a sector) is different. We have different keys representing different pivotal opportunities where positive change equals growth.

It is precisely because of these differences that, in Kent, intime PROFIT are introducing a 7 Step Business Builder programme. This assumes / accepts that you are a business owner wanting to unlock the hidden profitability of the business you run.

The Business Builder then starts with an initial interview with an intime PROFIT (ITP) Partner at which ITP and the business owner / manager effectively vet each other’s suitability. The Business Builder member then joins a programme alternating a series of Boardroom events with One-to-One meetings.

Boardroom Events introduce members to innovative tools to develop business profitably. These are deliverable methods to help generate and convert increasing numbers of quality enquiries and to turn more of these to profitable business sales and / or relations.

One-to-Ones help tailor a Business Builder Plan to your specific business and objectives, to review your business activity and goals and help build a plan tailored to deliver these goals.

Great opportunities here for businesses in Kent.

Back to driving, but in tandem with driving your business. Just as Stopping Time is made up of Thinking Time and Braking Time, so Sustainable Profitability is a combination of Thinking Time and its affect on Profit.

If you want to take a little time out to think, click the image above, call us on 08456 437 497 or e-mail intime@intimeprofit.com. Start making the difference today.