Paul Lemberg explains Profit Models- Using Business Models for Greater Business Profits
Discover his new system Blueprints to Profits
Note: read the following article about his brand new coaching program >> Blueprints for Profits Review
Last year, Paul
Lemberg created a product called FormulaFIVE which was promoted by Stompernet.
They sold around $1.8 million dollars of this product…
Paul Lemberg surveyed his customer base repeatedly and found out that he had an unheard of 88% customer satisfaction rate and more than 67% of all purchasers reported using the product to get solid results in their business.
Paul Lemberg started his first business with a partner and $3,000 of credit card debt. Building the company to 92 people and sales on four continents, they sold it three years later for millions.
He used some of the cash to start a second company, and ultimately sold that business to large German Bank. After working as a corporate and market strategist for Fortune 100 technology companies, Paul found his passion and talent was helping other entrepreneurs become super-successful, and in 1992 coined the term business coaching to describe his work.
Internationally recognized as a business coach, advisor, author and speaker, Paul’s newest book from McGraw Hill is Be Unreasonable. He named it that because that’s what his private clients say he is as he helps them see unnecessary limits they place upon themselves, and encourages, cajoles, and sometimes flat-out beats them over the head to take bold, uncomfortable and – yes – unreasonable actions to reach their goals.
Paul currently works with clients on 3 continents and 6 time zones. 50% year over year client growth is typical, and doubling sales and profits is almost common. Paul has worked with giant companies like Cisco, Accenture, Adobe, Goldman Sachs, IBM and Telstra, as well as hundreds of businesses whose names you’ll never know, but whose entrepreneurial business owners have pocketed more than $300 million in increased profits and proceeds from sales. Thousands more have used Paul’s business acceleration programs including the wildly successful business-building system, FormulaFIVE.
Paul’s newest program is Business Profits Blueprint, distilling 17 years of business coaching into a guaranteed success program. The tag line? “The system is brilliant, so you don’t have to be.” You can read more about this program on the blog: http://blueprintstoprofits.org/ when you join this program you will get more than 24 hours training in 6 modules.
Paul is an superb communicator. He has appeared on Good Morning America and on CNN, as well as dozens of radio programs. Be Unreasonable (McGraw-Hill, 2007) reached number 3 on Amazon.com’s business list. He has authored two previous books:
Faster Than the Speed of Change (Akiba Press, 2000)
and the
Earn Twice as Much with Half the Stress... (Morgan James, 2005), as well as dozens of articles, which have appeared in The Bottom Line Personal Book of Bes..., Training Magazine, and Info World, among other places. His newsletters are read by over 30,000 leaders worldwide.
He is also a member of American MENSA.
Profit Models: Using Business Models for Greater Business Profits
by Paul Lemberg
Long ago and far away during what is known as the dot-com era, something called “business models” were the rage. Every company had one—or at least they spoke about having one. But along with some other questionable business notions like “cost-per-eyeballs” and “stickiness” — the idea of business models has fallen into disuse.
I think it’s time to revive this powerful shortcut to profitable thinking.
What is a business model and why do you need one?
A business model succinctly describes how your business will make money. It is shorthand—hence the term model—insuring that all your business bases are covered, detailing only the essential elements: how you produce a product or service people want, how you tell people about it so that they want it, how you put that product in their hands, and how you make a profit.
Simple enough, right?
Have you actually gone through this exercise? Have you taken the time to consider the critical factors for your business success, making sure you have adequately addressed each one?
Suppose your business is already generating a profit. Do you need a business model?
Maybe…
To paraphrase Dr. W. Edwards Deming (you can’t go wrong paraphrasing Deming), “If you can’t tell me, simply and briefly, the purpose of what you are doing, then you don’t understand what it is.”
To put this another way, if you can’t describe—briefly and to the point—how your business performs its critical success functions, you are probably not earning the most money possible from the opportunities available to you.
But a business model is more than just a list of the essential elements—it is a cohesive narrative which you can communicate easily—to customers, vendors, lenders, investors, employees, anyone. And just like a financial model—which allows you to identify and tweak various components like lead conversion rates or the cost of money—a business model helps you identify, then tweak, individual components to increase your profit.
There are four key parts to a solid business model.
Your value proposition.
Your value proposition links the individuals and organizations (consumers) in your market segment to the products and services you offer, via your unique package of “value elements.” Your value proposition answers the questions: who are they buyers, what will they buy, and why will they buy it.
Your fulfillment system.
Some people call this operations. I like fulfillment system; it makes the point that this is about fulfilling on the promises you make to clients and customers. Your fulfillment system is the way you deliver your company’s unique value to your customers, in the form of products, services or both.
Your fulfillment system may involve creating something in-house or outsourcing. It might involve manufacturing from raw materials, assembling components, or even buying finished goods—for resale. Or it might be providing services with your own staff, using outside contractors, or assembling a team of virtual contributors. Any combination of fulfillment methods is possible; your business model makes clear which.
Your business development system.
Your business development system includes those parts of your business which identify potential buyers and puts your product or service in their hands. This is what people traditionally think of as marketing and sales. It also includes distribution networks, licensing, franchising, channels, and any other systems or methods that facilitate people buying your wares.
Your profit formula.
This is how your company is going to make money.
As it is said, do the math! You cannot buy high and sell low expecting to make it up on volume, regardless of what people hoped in ages past.
Buy low and sell high will make you money, but unfortunately, for most people that bit of info that doesn’t tell you enough to get rich. You must buy low enough, make whatever you buy worth more via some kind of added value, and then sell high enough, over and over again. Your profit formula describes how you are going to do that.
Hope you enjoyed ...
If you follow his trainings your business will double and even maybe triple if you follow his instructions.
what to do next ? Discover his new system Blueprints to Profits
read the following article about his brand new coaching program >> Blueprints for Profits Review
or if you only want to spend 15 bucks read his last book and
Be
Unreasonable
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Paul Lemberg explains Profit Models- Using Business Models for Greater Business Profits. Discover his new system Blueprints to Profits
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