5.15.80: The Elite 5% - maximizing profit by reducing fixed coSTs - william eastman
PROFIT RADIO - "A Network of Entrepreneurs for Entrepreneurs"
We introduced the 5.15.80 Model at the beginning of the Season. It was a combination of research into small business performance and our practical experience from the last 2 decades. You could go to any area around the global with a market based economy and randomly select 1,000 companies, here is the distribution you would find: 5% or 50 companies that own their markets, 15% or 150 companies that are making money, and 80% or 800 companies that are barely surviving.
This series is about how to move from one level up and our concern in this series is the 5%, not how you get here which which is covered in the 15% series; the focus now is how to SUSTAIN market leadership.
LISTEN > ENGAGE > APPLY
Today we start 7 of the 9 Disciplines of Market Domination. These are the intermittent disciplines that will move a successful business to a market dominator.
Disciple 7 is the first of two attacks on cost - fixed.
Fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold. Fixed costs are expenses that have to be paid by a company, independent of any specific business activities.
Key Issues - Owner Perspective:
What You Need to Know
What You Need to Do
Next Week - Maximize Profits - Variable Costs.
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Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.
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