As a service business, your job is to help your customers or clients be the very best they can be. You help them look better, present themselves more professionally, and provide tips to propel them to the next level of awesomeness.
But, who helps you?
At ADTACK, everything we do revolves around making our clients' businesses stand out above the rest. With this in mind, here are a few tips your professional services businesses should consider.
Do What You Do Best When you add too much to your product line, you lose focus on what made you start your business in the first place. Do what you do best, and focus on being an expert on that. By staying true to your mission and values, you'll eliminate unnecessary expenses and avoid venturing into less profitable lines of business.
Make Money You're not making money if you're just bringing in revenue; you're making money if you're bringing in profit. Those are two very different aspects. Shift your focus from revenue to profitability. This will help you learn where you can spend your money, and which parts of your business need to be reconsidered.
Know Your Metrics Do you know what it takes to be better than the next guy? Have you examined your sales revenue over the past twelve months? Do you know what your gross profit margins are and how much you're spending, compared to the amount you're bringing in?
Metrics are the mainstay for success. You need to know these numbers before you can make decisions for your business. Here are some other figures to consider:
Sales per employee
Cost of goods sold
Cost of acquiring new customers
Margin on service lines or products
Remember, successful companies pay bills off of profit, not revenue. Knowing what these numbers mean could help you avoid problems down the line.
Invest in Sales and Marketing You know your business better than anyone else. You've worked hard to build it into exactly what you want it to be. Your customers aren't that invested in your company – at least not at first. You need a solid sales and marketing strategy to help people understand why they should hire your business.
It's not just about being better than everybody else; it's about creating a brand people recognize as the best. And it all starts with inbound marketing. An experienced inbound marketing team can help you effectively leverage your services to increase your profits. Contact us at 702-270-8772 to learn more.