Most professional service firms have operating profit margins from 25-40 percent. This means that out of every dollar of revenue, 25-40 cents drops to their bottom line as pre-tax profits. I want to share with you a simple strategy that one law firm I work with used to increase its operating profit margin by 29.5…
With Uber and Google’s workplace diversity issues sparking headlines across the country this year, I wanted to share three things that will make a difference. To be clear, none of these things are quick fixes. All three of these ideas are designed to help create a company culture that is diverse and empowered. This can sometimes take…
The response was so strong from the article I posted last week of 15 email marketing insider tips that I wanted to share nine more with you in this article. Considering that my company Maui Mastermind sends out millions of targeted emails every month to our subscriber elist for our business coaching company, we’ve learned…
It’s an exciting time, as start-up culture has taken the business world by storm over the last ten years. People are eager to bring their visions to life and dream that “their” idea is the “next big thing”, and that it’s the “new and improved” Facebook or Airbnb. Because there are so many new start-ups…
I’m gearing up for a conference where I’ll be keynoting in two weeks. One of the sessions I’m leading is an expert panel on email marketing. To help you sharpen your strategy, I’m sharing 15 practical tips to improve your email marketing—and boost your sales. 1. Value your list. Protect it. Connect with it. Add…
Morgan was a young man in his late 20s when he started his mortgage brokerage company, Morgan Financial. He built a successful owner-reliant company for himself with one office in Portland, Oregon. After a few years, Morgan took the scary step of opening a second office. It turned out to be profitable, and for a…
One advantage of working with hundreds of business coaching clients is that we get to see which “levers” in a business are the easiest to quickly impact profitability. Here are my three favorite “profit levers” for you to adjust to increase your company’s operating profit margin. One: Raise Your Prices I know you may be…
Earlier today I was leading a web cam round table with a dozen of our top business coaching clients. The subject was leadership. During a portion of this round table the participants were sharing how they were personally using a simple delegation technique we had taught them called the “Capability Spectrum”. Imagine a scale from…
If there were any one sales generating activity that applies to a large cross section of businesses, yet is commonly overlooked, cold calling would be my pick. Cold calling is the outbound dialing to a person or business who isn’t expecting your call. I’ll be the first to admit that it isn’t glamorous or sexy,…
Earlier this week I was talking with a business coaching client who runs a $10 million a year professional service firm. He shared with me that it had taken him several monthly to build out his core marketing funnel for a new service he started less than 12 months prior. He was excited that it…