I’m Not Making Enough Money

I’m Not Making Enough Money

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One of the most common questions I get asked by owners and managers is…

“Marcus, I’m not making enough money. How can I make more?”

Not knowing whether they’re referring to revenue or profit, I’ll ask them to clarify.
The answer is most often the same, each time I ask the question – Both!

I’ll follow up with a further question which is loaded with the answer to one significant cause.

Do your customers choose you, or do you choose your customers?

What do you mean Marcus? usually comes the reply

Let me explain…

If you leave the customer to choose you (as most businesses do) – they may not be the ones you want (or need)
If you choose your customer – you decide the ones you want (and those you don’t)

The significance of this is that “when YOU choose your customers”, it puts you in control of your destiny – a greater certainty for achieving your goals, your targets, your results, your profitability.

Make sense?

It sounds simple and logical enough doesn’t it, but I appreciate it’s not so easy to make happen if you don’t know WHICH type of customer you want and don’t want.

That leads me to my next question…

Do YOU know which customers you WANT and which you don’t want?

Do you know HOW to decide?

When I ask many managers and owners who their “ideal” customer is, they’ll say EVERYONE.

Agree or disagree?

If you disagree, you answered correctly 🙂

Not everyone is your “ideal” customer and if you try to appeal to everyone, you’re NOT going to specifically appeal to and attract your “ideal” ones.

An “ideal” customer – is the one “who can most rapidly buy your product or service and allow you to maximise your profitability”

If you leave your customers to pick you, then you’re setting yourself up to ask that same question we started with…”Marcus, I’m not making enough money. How can I make more?”

“A customer’s interest to buy from you is rarely the same as your interest to sell to them”

However, if you know exactly the type of customer you want and create the right environment (product, service, offer and message) to attract ONLY your ideal target customer, then you’re in control of your destiny and profitability.

So, I urge you to get crystal clear about WHO your ideal customer is and make sure your marketing message, offer and value connect with them and only them.

Have a rock-steady week ahead and always strive to be the best at what you do!

Warm wishes,

Marcus

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