One Thing: Day 765: Revenue per Employee
Day 765: Revenue per Employee
Yesterday I was explaining how ‘Near Term’ you’re as good as your drive and ‘Long Term’ you’re as good as your consistency as well as that the older I get the longer I stay in my car before going in the house.
Speaking of staying in the house…
Dangerous Dave got a dog with no legs, here was our conversation:
Me: What did you name your dog with no legs?
Dangerous Dave: I didn’t give him one, he can’t come when I call… so I figured there’s no point.
Me: What do you do with him?
Dangerous Dave: I take him for a drag every afternoon.
Me: Does he do any tricks?
Dangerous Dave: Ya he can roll over… only problem is sometimes he can’t stop.
In other news…
If you want a great life… make your freedom more important than your luxuries.
Your One PROFIT ACCELERATION THING Today Is:
‘Revenue per Employee’
A good frame is to assume your prospect / client should only spend 15 – 30% of gross revenues on payroll.
Here’s how I would use this information in a conversation to help get credibility / close my new high end coaching prospect / client.
*Let’s use 22.5% as our percentage.
Me: “What are your revenues XXX?”
Business Owner: “$2,000,000 last year”
Me: “Great so industry standard for your payroll should be about 22.5%, which is
450,000 per year… and $37,500 per month… is that your approximate payroll?”
Business Owner: “I have no idea. Is that what it should be?”
Me: “Yes that would be approximately your industry standard which can fluctuate dependant upon the size of your company, industry trends and the stage of growth that you’re at.
Let’s not worry about the finer details right now but this is the kind of stuff I can easily help you with as we move along. Your payroll is a huge variable cost so I’ll enjoy helping you keep this under control and maximizing its output so you become more profitable and more importantly, more profitable than your competitors so you have an extra competitive advantage.”
Business Owner: Sounds great.
Me: *ask my next question*
*One small step in your conversation… one giant leap towards getting a high end coaching client and a referral.
You heard it here first.
Now, pick up the phone and go help someone.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. We were born to win but we’re being programmed to lose.
PPS. If this helps and you want it to really sink in… GO TEACH IT to someone cause that’s the best way for you to learn it. A friend, your spouse, a prospect, a client etc…
*Don’t plagiarize my work like a lame arse.
PPPS. Marriages break up from lack of money… over lack of love X 100.
Business failures lead to destruction, addiction, depression, anxiety, suicides, and, unfortunately, far more.
As good business coaches, we save marriages, save families, save kids from self-destruction… we save lives!
A true life of purpose.
PPPPS. If you’re looking for a proven system to follow for your coaching…. I created Profit Acceleration Software™ as well as our Digital Acceleration Software™ and high-end step-by-step training to support it…
It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’
Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Reply to this if you want to start following a proven coaching system.
PPPPPS. Forward this to someone that needs to subscribe to my daily emails and get a limited-time, complimentary subscription to my business coaching magazine go here:
PPPPPPS. They tell me my Podcast is Ric Flair style, Money Makin, Client Getten, Joint Venture Landing, Event Fillin, High-End Coaching Client Findin Gold For Business Coaches.
Missed a day? Catch up here.
Karl Bryan, creator of Profit Acceleration Software™
Karl is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Focused.com, home of the largest private community of Business Coaches (24 countries and counting) in the world. His goal is straightforward… to help serious coaches/consultants get more clients. Find out more at focused.com
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