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CHAPTER 5 MULTIPLYING YOUR BUSINESS PROFITS

immediately? If you want to be a successful entrepreneur, you
should have all these numbers at your fingertips. In all my
companies, we measure each of these variables weekly,
monthly and yearly. We measure these numbers very regularly
in order to track if our marketing strategies are working. As
a marketing guru, your goal should be to continuously increase
all five variables as that will lead to increased profits.

The reason why most businesses fail to succeed is because
nobody is measuring these numbers. Most entrepreneurs I
coach stare at me blankly when I ask them how many leads
they generate a month and what their current conversion rate
is. If you don’t measure it, you cannot improve it!

Increasing Your Business Profits by 160% in Less
than 6 Months!

Is it possible to take any business and to double its profits in
less than six months? I can tell you from experience that it is
not only possible, but highly achievable as well. Let’s see how
anyone can achieve this.

Imagine you were a clothes retailer and after measuring your
profit variables, you came up with the following figures (in
annual terms).

Leads 40,000
x Conversion Rate 15%
= Number of Customers 6,000
x Average Dollar Purchase $80
x No. of Repeat Purchases 1 time a year
= Sales Revenue $480,000
x Net Profit Margin 25%
= Net Profits $120,000

136 SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES