Heard about the newest global positioning system? It’s highly sought after by entrepreneurs who need direction and a shortcut to success.
You log in your company’s current value and a monetary goal you’d like to reach. Then hit “Go.” As you work toward your goal, the GPS gives you voice commands: Turn this way to make a 20 percent profit. Take the next road to reach a 15 percent increase in sales.
You receive frequent reminders of how long it will be before you reach your destination goal. Nice. Simple. Easy.
Unfortunately, it’s also untrue. There isn’t a GPS that can plot your course so your business avoids dead ends, potholes, breakdowns, deep water, gridlocks and wrong turns. However, there is something you can use that will lead you to profitability if you follow the instructions. It’s called “selling to a process.”
A process is a series of actions and systems directed toward an end result … in this case, greater profits. Notice I didn’t say more sales.
Builders ask me all the time, “Myers, can you increase our sales?” I say, “Instantly! I can increase them 20 to 30 percent in one month. Give me a big enough discount and a budget to market the discount, and I’ll increase your sales overnight.”
They didn’t ask if I could increase their profits. To increase profits, I need to show them how to sell to a process without sacrificing profitability.
If you were to have a GPS Grail installed on your dashboard, what business goal would you punch in: Increased Sales or Increased Profits?