How your bottom line
can add more profit

There are a number of ways to improve your bottom line. Winning the lottery makes money. Developing the next big consumer craze makes money. Focusing resources on new products...? Not as sexy, is it? Everyone knows new products and services can grow revenue and profits, but few realise their own people are the richest potential source of that development.

2 ingredients encourage product development

The first is information. Your people talk constantly with workmates and colleagues, managers, shop staff, customers and suppliers about what's working. And what's not. Collectively, they have all the data needed to develop new products and services - and make existing products better. Look no further than your own team.

Too cynical for you? Try this. Think of one change to help the business. Known about it for more than a week? Done it yet? Do I make my point?

Your colleagues are in the same boat - they know what to do but don't want to do it. Information and desire form part of every Negotiation Seminar we deliver; we break habits of non-contribution by stimulating and engaging people to act and interact with one another. Introduce new material. Engage people using insights and laughter. And support it in a safe environment that welcomes people talking about blockages and opportunities.

Simple processes release their daily experiences and thinking about how to develop new products and services.

Penetrate markets through business acquisitions

Perhaps you're thinking of more money, bigger profits, business growth, increased share price, more prestige, new challenges...

There are many reasons to acquire another business. But unless you understand the seller's interest in being acquired, you're heading for trouble. You need more than a sound business strategy. You need to understand what motivates them. Check our 5 Point Method and interrogate points 3 and 4 prior to any acquisition.

This might also be a good time to consider a facilitated session for your management team to determine how to proceed. Or if it's just for you, we can work on some one-on-one coaching for a few hours and make great progress.

Costing for sales - other methods

Your customers pay you for perceived value. Your challenge is to make the value relevant to them. By understanding their needs, you match your products and services to fit. The level of fit can often determine the price.

It's the same with suppliers. We pay suppliers for perceived value.
Their challenge is to make the value relevant to us. By understanding our needs, they match their products and services to fulfil our needs. The level of fit can often determine their price.

The traditional way of costing for sales - Quantity, Specification, Price and Time - locks us into traditional thinking and delivers traditional solutions eg 1,000 xyz-grade widgets at $x per unit payable 30 days from month-end.

When looking for alternative approaches to cost for sales, look at other parameters and Possabilities® by which to negotiate - taxation, type of relationship, future sales, JV opportunities, stage of cycle, and referrals to name just a few. Ask yourself one powerful question:

        Specifically, what are our suppliers' needs?

By truly understanding others' motives, you're able to pursue parameters most likely to fulfil their needs. Begin by devising insightful questions, follow-up with provocative statements, and focus their thinking upon their needs. Then leverage the process with better costing for sales' outcomes for both of you. Do you have such a process? Do your people follow it? Every time?

We offer simple techniques to reveal the needs of others, many of which are locked inside our negotiating a better bottom line seminar. Can you imagine how much more effective your people would be if they always asked better questions of your suppliers and customers?

Making money is easier when you know the other person's motives.