Donna Marie Thompson, PhD CEO of Expert Profit Solutions Guided Small Business Owners on Maximizing Profits as a Business Management Mandate for Business Success
Profit margins and total profits are key measures in effective small business management. Delivering exceptional customer value at the right price drives business profits straight to the bottom line. The Peak Profit Potential TM Mastermind led by Donna Marie Thompson, small business profitability specialist and creator of The Profit Pyramid TM, explored business profits from the added-value business process perspective.
According to Dr. Thompson: "Small business owners and entrepreneurs deliver profits to the bottom line in direct proportion to the recognized customer value they deliver. Small business profit margins vary widely from as low as 10% to as high as 50% or more from commodity service firms to high-end software development companies. Of course, each business even with these sub-segments is different. Yet the numbers are illustrative of what is possible and what is currently being achieved by competitive small business owners and entrepreneurs today.”
“Keeping a close eye on your profit targets and actual profit margins is a key business objective for strategic business owners,” continued Dr. Thompson. This Peak Profit Potential Mastermind session on Profits addressed what profit targets are being met, what targets are not, and why. "Every small business owner will have different answers yet the need for clarity is universal as it relates to pricing, profit, and cost cutting in business management and decision making. As you grow your business, make sure you are preserving and expanding your profit margins," commented Dr. Thompson.
The business owners relayed their experiences with managing variables and achieving or not achieving the higher profits they expected. Dr. Thompson remarked: "Measure your margins at every step along the way to avoid unexpected negative impacts on your income statement."
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, masterminds, and profit kick start 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
Donna Marie Thompson, PhD