Episode 34: Profit vs. Sales or Income
Update: 2020-10-27
Description
Dr. Michael Troyer and Anna Steinfest will help you answer the question of how do you make money?
By investing the least amount of time, resources, and expertise for each of the dollars of profit we make
Constantly think through (monthly – set a date):
- Who should be doing what?
- Does what they are doing fit them?
- Do they fit the “what” you are asking of them?
- Do you know what resources, time, value of skills and expertise are going in?
- Do you know what value is coming out for the customer or end-user?
If you can’t answer both of these, do you realize that you are operating without a Business Model?
And your employees don’t know what they or you are doing either.
How can we serve the customer better than anyone else is thinking to do?
Customers pay for value
That is why it should be called the “Customer Value Proposition”
But the customer must be helped to see or experience the value!
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