International Business Growth Radio Network
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP

show notes

Stages of Development

WHAT SHOULD YOU SELL? CREATING PROFITABILITY WITH PRODUCT FOCUS - Celia Powell

9/11/2020

0 Comments

 
Picture
Celia Powell - "By the Numbers"

IBGR.Network - PROFIT Radio.
Everything a business owner needs to start, grow, or exit a business. Come grow with us.


Introduction:
Hello, my business money making friends! So glad that you decided to join us today on my show By the Numbers.  I’m Celia Powell the host and YOUR CPA/CFO for this fine financial hour, You see it’s Money Monday here at IBGR Network, where we talk and talk and talk some more, about all things numbers related we begin programming in the afternoon and go well into -the evening! When you want to learn anything fiscal, financial, accounting, business, come at check US out at IBGR.network.  We are “The” what is happening for all resources needed to start, grow, and exit your business.

What a weekend for the U.S.A. and for me personally, very exciting times that we are witnessing taking place in my country here in America, there were celebrations across not only in our country but the world and even my house this past weekend, I celebrated my birthday Saturday, in the midst of all the other celebratory activities going, so I had lots of folks joining me to celebrate my special day! Congratulations to President Elect Biden and Vice President Elect Harris a very class act in my humble opinion. 

The topic today is not just about what you sell, your products and services, but how and who you sell them to. The goal for most for profit businesses is to create profit and to maximize it.  Knowing the right product mix and aligning it with the right customers/clients is the key to creating a profitable bottom line. Let’s talk today about how we go about determining the right products/services and how we connect to the customers/clients that want or need them and pay for them at the profit margin that we set as financial performance goals. 

Show Objectives:

  • Help the business owner create product/service focus
  • How to create margins to satisfy business goals
  • Know how to align with customers ready to buy
  • How to use business resources to grow the bottom line. 

Key Issues
  1. Limitations and boundaries where to draw the line around our products/services
  2. We are doing too much; we are over offering and under selling. (not enough in marketing)
  3. It “feels” like things are going well with the products and services vs. facts.
  4. Where to get the information necessary to really know how we are doing?

What You Need to Do

  1. Working in tandem with your accountant. The accountant functions are a support system that provides the financial information about your business and having access to the reports and systems that generate the information, timely and accurately is a must to create product/service focus.
  2. Get information about your products, depending on the systems you use, prepare reports that give details by product/service. Variables that need to be analyzed are costs to acquire or produce product/services.  Products, time or labor costs, pricing, quantities, and marketing are major considerations.  
  3. Make solid business decisions based the facts that you know and not what you feel.  Feelings often will not lead us to making profitable decisions, but information will.  Getting the facts about our products/services and making good decisions will make our feelings good when we generate the products/services that produce profits and meet our margins.
  4. Make determinations about which products and services are the most profitable and abandon the ones that are not. We are in the business to make money and not to get emotionally tied up with unnecessary non-profitable products and services (profit is our friend).
  5. Gaining the insights from the external environment to determine who is your ideal client/customer is and determining the correct mix of marketing channels to promote to them? Where do we find them to present our products/services to them to purchase and at the profit margins we need to make. It is not simply good to have people buy our products/services because we need to have them at the market price that we set.


Shows
Previous: Episode F3-4.005 What are the results from Value Mapping the variable cost processes and create tracking reports on Quality and Preventive Maintenance

Next: Episode F3-4.007 Want More Profitable Customers? Then Try This!

Written by Celia Powell, CPA
“By the Numbers with Celia”

F2.06.3NA

0 Comments



Leave a Reply.

    new choice for BUSINESS SEARCH

    ​All IBGR Shows Notes are available for download

    Authors

    - (NA) North American Radio Hosts
    ​- (AA) Australasian Radio Hosts
    - (SA) South Asian Radio Hosts
    - (PM) Prime Meridian Radio Hosts

    Archives

    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Season 1 - A. Strategy
    Season 1 - B. Operations
    Season 1 - C. Sales
    Season 1 - D. People
    Season 1 - E. Ownership
    Season 1 - F. Coaching & Consulting
    Season 2 - A. Financial Results
    Season 2 - B. Operational Productivity
    Season 2 - C. Sales Effectiveness
    Season 2 - D. People Performance
    Season 2 - E. Owner As Executive
    Season 3 - C. Customers
    Season 3 - E. Executive
    Season 3 - F. Finances
    Season 3 - IBGR Specials
    Season 3 - O. Operations
    Season 3 - P. People
    Season 3 - Special Series
    Season 4 - Customers
    Season 4 - Executive
    Season 4 - Finance
    Season 4 IBGR Specials
    Season 4 - Market Domination
    Season 4 - Operations
    Season 4 - People
    Season 4 - SPECIAL SHOW
    SPECIAL EPISODE

    RSS Feed

Site powered by Weebly. Managed by Radio.co, Designed by gWORX Media
Photo used under Creative Commons from magerleagues
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP