The 5-part Formula for Success outlines how business profits are generated = Lead Generation x Conversion Rates x Number of Transactions x Average Dollar Sale x Profit Margins
The five-part Formula for Success is the key to ‘eating the elephant’ of increasing your profits. If you want to double your profits, most entrepreneurs think in terms of doubling customers or doubling prices. If you break the process down into increasing each of the five components of the formula by 15% each, you have palatable bite-sized pieces that can increase your profits by over 100%.
In this talk we will concentrate on the first part of the formula, Lead Generation, specifically the use of referrals to increase leads cost-free while improving the relationship between the business owner and her current customers.
-Why ask for referrals
-The referral-based busines
-Customers as your advocat
-How to ask for referrals
The presentation will include handouts and audience participation
Larry Earnhart of the Alchemist Professors, is currently an Adjunct Professor at University Canada West and teaches online business classes there. He taught Operations Management last term and is teaching Investments this term. He is also a member of the Academic Advisory Council for UCW.
Since moving to Victoria 12 years ago Larry has owned a restaurant, been a financial advisor and owned a franchise handyman business. He is now a business consultant working with the owners of small to medium sized businesses. Larry and his partners have recently published a book outlining principles used in this presentation: "Transmutation: Turning your Business From Lead to Gold".
Website and/or blog site: … http://thealchemistprofessors.com/& http://alchemistbusinessacademy.com/blog/