I was reviewing a few client results last week and something about a couple of them hit me like a 4×2 on the back of my head. Both are witnessing an increase in profitability and one in particular has seen their net profit percentage grow from 0.5% to 12% in the past 6 months.
“Good, and…….?” I hear you ask.
Well, what’s really interesting is that for both these clients we have not yet started working on their marketing and sales strategy. So what has caused this healthy growth in profitability?
For most people if they want something they realise they have to do stuff to get it, we could represent this in a very simple formula:
DO = HAVE
i.e. If I DO the stuff I need to do I’ll HAVE what I want to have,
However, we are missing a vitally important part of the equation here and that is the word ‘BE’.
It’s all very well doing what you need to do BUT you also have to BE the right person too. We’ve all heard countless stories of lottery winners from ‘the wrong side of town’ whom after 3 years are left with nothing, or the reality show contestants that make it big only to file for bankruptcy a couple of years later. This is because they do not think or perhaps have the skills necessary to be a successful millionaire.
So the answer to the question above is that both clients I mention have seen their profitability increase because we have been working on the BE of the owners and staff members not necessarily the DO.
Therefore by adding just 2 letters to the above formula it becomes substantially more powerful:
BE x DO = HAVE
I would encourage you to think about your own situation and ask whether you’re doing what you need to do, but also whether you’re being the person you need to be to get what you strive for. If not what do you need to change?