Washington, DC, September 28, 2013 --(PR.com
)-- Small business owners and entrepreneurs attending the Peak Profit Potential mastermind guided by Donna Marie Thompson, PhD were challenged to identify where exactly is it in their business management toolbox that customer value is linked to the bottom line.
According to Dr. Thompson: "Small business owners and entrepreneurs are in business to drive for higher quality and higher speed to provide exceptional customer value at higher profit. All of the pieces need to be in place in order to successfully navigate the evolving competitive landscape.”
“Only value that is recognized by the customer counts in achieving business success. After all, customers always have the option of simply doing nothing, and many of them do just that. Customer value thinking is an essential mindset for exponential business growth and sustained business success,” continued Dr. Thompson.
The Peak Profit Potential Mastermind session on Customer Value addressed: “what problem are you solving, for whom, and why is your offering the best choice. Only after you honestly and carefully answer these questions can you begin to think like a customer. Every small business owner will have different answers yet the need for clarity is universal as it relates to pricing, profit, and cost control factors in business decision making. As you seek business growth, keep your focus on delivering exceptional customer value," commented Dr. Thompson.
The business owners relayed their experiences with adding product features and not achieving the higher profits they expected. Cost management issues were analyzed against business growth issues. The mastermind format enabled the small business owners and entrepreneurs to revise their views on business strategy in collaboration with their peers in search of increased customer value and subsequently, increased profits.
Dr. Thompson remarked: "Ask, ask, ask before you design customer benefits that they appreciate. Test, test, test before you invest. Unresearched new features and their associated costs could hurt your bottom line and have a negative impact on your income statement for months to come."
The next Peak Profit Potential Mastermind is designed around maximizing profits.
Donna Marie Thompson, PhD, MBA, CPA is an acclaimed platform and cruise ship speaker, a two-time best-selling author, and former Director at PricewaterhouseCoopers Consulting. She is a small business profitability specialist who created The Profit PyramidTM and runs powerful Peak Profit Potential webinars, mastermind, and training programs.
Sign up now if you have profits and want to boost them by at least 30% in 2014 at http://www.ExpertProfitSolutions.com
And pick up your own autographed copy of Donna Marie Thompson's new book: Peak Profit Potential: A 4-Step Program to Stop Your Business From Leaking Money with free shipping in the US at http://www.PeakProfitPotential.com