Get Your Company FIT & Your Bottom Line FAT

Issue #16 - October 2006     

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Coming in 2007, brand new DVD edition of our internationally renown Profit Mastery Seminar


"We cannot swing up on a rope that is attached only to our own belt."  
William E. Hocking

"We listened to what our customers wanted and acted on what they said. Good things happen when you pay attention." 
John F. Smith

"Morale is when your hands and feet keep on working when your head says it can't be done."
Benjamin Morrell

"In the business world, the rearview mirror is always clearer than the windshield.Ē
Warren Buffett









"Just the Road Map alone was worth the price of attending."

-Gary Hill, Leo Hamel & Co

"We saw measurable improvements in one month."
-James F. Sunderland Jr., 
James and Sons 

  "It was fun and interesting. I never knew numbers could be this fun." 
-Ray Bleser, Northeastern Fine Jewelry.


In This Issue...

  • Article:  Getting Even
  • Coach's Corner:   The Power of a Question 
  • October Tip of the Month

Getting Even

"Can I afford to hire that new salesperson?"  
"How much more do I need to sell if I lower my prices?" 
"What amount of sales should my new advertising campaign create to pay for itself?" 

What do these questions have in common?  Each relates to how changes in costs, volume, and pricing affect your bottom line.  By the end of this article, Iíll have given you a single formula to help you answer these questions more accurately than ever before.  continued...

Coach's Corner by Laurie Owen
The Power of a Question

 I can remember it like it was just yesterday.  I was sitting in my bankerís office, going over my intricately prepared financial projections.  My banker's name was Rex Wallace and he was Vice President with Evergreen Bank in Seattle. As a newly minted MBA, I was sure I had enough information to more than dazzle him and allay any concerns he might have about my cash poor company.  Halfway through my elaborate presentation, Rex stopped me and gently, but plainly asked, "Laurie, what are you going to do today to make tomorrow different?" I sat back, stumped. I hadn't thought of that one.  Somehow in the middle of all my prep work and spreadsheets, I'd forgotten the most important part.  I never went in for another meeting with Rex without a strong answer to that question and my business was the better for it.

That's the power of a great question.  Think back to the times you made the most progress in your personal or business life, or career.  I bet it happened not from someone giving you any more information or telling you what to do, but instead, asking the right question. Sometimes that person asking the right question is you. Sometimes the question comes from plain curiosity, sometimes it just bubbles up.  Sometimes it's the question you're most afraid to ask that makes it the one you must. Here are powerful questions, courtesy of coach Urs Koenig of Redpoint Coaching, to get you started in making some shifts in your life:

          What do you have to let go of?
How would you like your role to look like?
What would bring XY to a closure for you?
How will we know when you get what you came for?
What do you need right now?
Tell me 5 things that are great about your life
What are you most happy/excited about/proud of?
How would you measure success?
What are the questions you would like me to ask?
What needs to happen so you can do xy?
What is your strategy for bridging the gap?
What is holding you back?

October Tip of the Month 
Are you on a fiscal calendar year end?  Set a date for finalizing your year-end statements, say Feb 1, and make a plan for getting the information together to make it happen.

Schedule a meeting this month with your bookkeeping staff and outside accounting advisors so they can put together the action steps to start getting things in place now.

Profit Mastery Workshops for Business Owners

Over 97% of the people who attend our workshops say they've substantially increased their understanding of the health, strengths and weaknesses of their companies. Change the way you manage your business, increase your cash flow, and find profits you never knew existed. This Seminar Schedule is for general sessions.

2007 Profit Mastery Dates for Jewelers


FIT Software  Like having a trusted financial advisor at your fingertips Ė 24x7. Let FIT do the "what-if" so you won't do the "if only." Get your fully functional evaluation version here

Take the guesswork out of pricing your products.  With this Profit Finder wheel, you select a target profit margin and it automatically helps you find the right price every time. $10 purchase

Road Map to Success  - Great Management Tool!
We've taken our Road Map, enlarged (22x28) and laminated it so you can write on it over and over again. At only $26.95, it's a great investment. 
More Info  |  Purchase


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