In many communities, the economy has stabilized. It might not be going like gangbusters, but it’s not as bad as two years ago and in many cases, it’s growing a bit. In today’s market, you might be happy to take any growth at all.
I was with a contractor this week who was perfectly happy with his business. He had a steady stream of new and returning customers, his employees were productive and loyal, and his expenses were modest and predictable. So what’s the problem?
The problem is this: If you can be profitable, consider setting a goal to reach a higher level. You should consider aiming for double-digit profitability every day. If you’ve got clients finding you without advertising, what are you doing that is attracting them? What do you do to reward existing clients that provide referrals? If expenses are modest, maybe it’s a good time to take a bit of risk that could bring a large return.
Challenge yourself when business is bad, and challenge yourself when business is good. It’s the only way to grow your profits.
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