Six Steps Profit Formula.
The Simple Rules that every Business Owner Should Know.
What is The Six Steps Profit Formula?
With thanks to Paul Simster who can be reached when you buy the book.
The Six Steps Profit Formula is my high-level reminder of how you
balance a top-down strategic approach to building your business with the
tactics you need to use every day.
It can be used as:
• A guide if you are starting your business to make sure that you’ve
covered the fundamental elements of business design.
• As a diagnostic tool for either a young business that is struggling or
an established business that isn’t performing as well as the business
I use a number of different frameworks for thinking about business
including the 5 Pathways To Profit Or Loss and the 3 Big Business Risks
Every Business Must Consider.
These frameworks allow me to “slice and dice” my clients' businesses in
different ways to give new insights on strengths, weakness, opportunities
and threats. I'm going to provide an overview of each in the appendices.
What Are The Individual Steps In The Six Steps Profit
The six steps in the profit formula are:
• Finding a “starving crowd”.
• Creating an irresistible promise that will tempt members of the
starving crowd to buy.
• Getting your irresistible promise in front of the eyes and ears of your
starving crowd so that they know about you and what you offer.
Six Steps Profit Formula by Paul Simister Page 3 of 35
• Delivering on your promise with a great customer experience.
• Selling your customers a second item to increase the original
transaction size and then selling subsequent transactions.
• Encouraging word of mouth referrals to reach deeper into your
starving crowd. This will help make your irresistible promise even
more irresistible to those potential customers who need social proof.
To read more buy the ebook.
Dr Michael J Freestone. B.Comm. Hons. MBA. DBA. FCIS. FCIBM.