success - Turbo Coach, achieve breakthroughs - Brian Tracy

194
TurboCoach
What will you do with employees who are not carrying
their weight? Establish benchmarks they must meet, and provide
the necessary training and support to help them do so.
If they fail, set them free.
Get rid of your unprofitable customers, regardless of the
amount of revenues they generate. Give serious thought to
pruning the 10 percent who yield the lowest profits, directing
the resources they have been absorbing toward attracting
higher-profit customers.
Take a close look at your money-losing and low-profit
products. Quickly explore ways to make them profitable or
to increase their margins. Can you raise prices? Can you reduce
costs? Can you change your offering to attract more
buyers, thereby spreading costs across a larger number of
products? Do not make the all-too-common mistake of falling
in love with any product. Even if it is a best-seller, if you
cannot bring it up to an acceptable profit level, eliminate it.
Even though they may be diligent in tracking the profitability
of their products, many businesses do not differentiate
between markets. Do not fall into this trap. If a market or
submarket does not yield an acceptable level of profits, explore
how you might raise the profitability in this area. Can
you raise prices? Can you pass shipping costs on to the
buyer? Is there a way to cut costs in the lagging market? If
you fail to raise the profitability of a particular market to
reach your targets, abandon it.
As you continue to grow your business by driving sales,
remember that the critical measure of success in any business
is profits. Develop the habit of regularly examining the
profitability of your people, your customers, your sales and
marketing initiatives, your products, and your markets. If
underperformers cannot be brought up to your standards,