Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses [Hardcover]

Patricia Sigmon (Author)

Book Description

Publication Date: April 26, 2010

An insightful look at how you can put net profit income at the forefront of your small to mid-sized business

Enable you to make changes that will create a profitable, sustainable business future, Six Steps to Creating Profit authoritatively shows you how to maximize profit for your small to mid-sized, privately-held, service-based business.

• Shows how to avoid the business model where all income is devoured by expenses, leaving a valuation that would not render any measurable sales revenue if the business should be sold
• Discusses how to create a company where actual profit generation is one of the primary goals
• Provides the steps necessary to create "true" profit
• Features coverage of rules of operation, visibility in the marketplace, marketing, cash flow, and management costs

Demonstrating how measuring the results of change is vital and part of the ultimate, ongoing, profit-based solution, Six Steps to Creating Profit reveals how the before and after of each operational area is as important to evaluate as the intended change itself.

Editorial Reviews

Review

"One theme that runs throughout.... is that small companies need to focus more on setting up integrated, user-friendly computer systems that can help them keep track of what they're spending and earning." (Crain's New York Review, 29 April 2011)

"...teaches you how to promote long-term growth through both economic and personal downturns by staying visible..." (Government Opportunities, May 2010)

From the Inside Flap

Six Steps to Creating Profit

Despite the difficulties of running a business, many owners of small to mid-sized service-based firms are able to become masters of their craft, boasting a long list of repeat clients and a stellar reputation. What's missing, though, is the most important piece of the puzzle, one of the main reasons you went into business in the first place—a good, healthy profit.

Finally, you can figure out why your business is no longer earning what it once earned or maybe even why your employees are making more money than you are.

Six Steps to Creating Profit helps you understand your business's weaknesses and confront the problems that exist and have resulted in a lack of profit. This savvy guide explores how you can promote long-term growth through both economic and personal downturns by:

• Replacing yesterday's stale successes with today's winners

• Staying visible and connected by increasing credentials and growing affiliations

• Keeping the cash flowing, knowing your budget, and working to the bottom line

• Changing the back office focus and managing for profit

• Putting online networking to work for you

• Creating a mantra and spreading the message

Everyone knows the recession is not kind to unprofitable businesses. It's time to stop "making payroll" and get past the roadblocks that are holding your business back from the success it deserves. Where other business books address everything you need to know to set up shop and get and service clients, Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses goes past the basics, equipping you to master the delicate balance of running a business and making a great profit. From the daily trials and tribulations of cash flow to what's up with your missing profits and shrinking sales, this is advice you can put to use right away for increasing sales, attaining business longevity—and realizing those profits.

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Product Details

• Hardcover: 208 pages
• Publisher: Wiley; 1 edition (April 26, 2010)
• Language: English
• ISBN-10: 0470554258
• ISBN-13: 978-0470554258
• Product Dimensions: 9 x 6 x 0.9 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.9 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #1,417,797 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

5.0 out of 5 stars Great Business Book!, April 25, 2010

By 

R. Monahan (New York, New York) - See all my reviews
(REAL NAME)   

This review is from: Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses (Hardcover)

Sigmon offers up innovative ideas for small business owners that can be implemented in a wide range of businesses. Her easy writing style and helpful checklists make this a must read for any small to mid-sized business owner looking to maximize profits. I highly recommended it!

1 of 1 people found the following review helpful:

5.0 out of 5 stars A comprehensive guide for both new and existing businesses, May 29, 2011

By 

Cindy Brock "Top Amazon Reviewer At Your Service" (Georgia, USA) - See all my reviews
(VINE VOICE)   

This review is from: Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses (Hardcover)

I really enjoyed this book because of the easy reading and the organization. In addition, it truly does apply for the small to mid-sized business. Even as a solopreneur, I can easily apply the concepts and ideas to what I do. (Granted, my business can probably fit on a single sheet of paper!)

Here are some of my thoughts...

=>There are six areas and then smaller areas with those six. I've always been a fan of the step approach: three ways to, five do's and don'ts, etc. This has a solid hierarchy of main ideas, sub ideas, and so on. This makes for much easier reading as you can move past the sections that really aren't a fit for you particular situation.

=>Each chapter starts with a few bullet points - graphically set out - for the chapter. I have generally only seen this type of information formatting in training materials; I was excited to see it used here. It allowed me to understand exactly what I should plan to "take away" from the chapter, as well as have the light bulb go off in my head to say, "this is really important for me."

=>While I am a big fan of having appendices and indexes, I am pleased this book has both. Another reader might be daunted at the length of both Appendix A and B (which is close to 50 pages), but don't let this scare you away. If you're 100% committed to making money, the questions and checklists in these sections cover all the bases and are a tremendous help. You can easily read the lists, and see what applies to you. Here are two examples:

==>In Appendix A under "Covering All the Bases," there is a great list of questions -e.g., do I have a marketing plan, social media presence, etc. These are all important questions that apply to what my business is doing: it's great to have them all in one place.

==>In Appendix B under "Decreasing Expenses," a few of the items apply to someone who manufactures a product (which I do not); thus, the items about price checking with distributors/manufacturers, etc., is applicable for me.

All you need to know before reading this book is (a) what your business truly is as the core (and that sounds easier than it appears on the surface), and (b) that you are willing to *invest* in your business to make it profitable (and this book is well worth the investment)!

1 of 1 people found the following review helpful:

5.0 out of 5 stars Extraordinary intelligence and profound wisdom, November 22, 2010

By 

Joseph Y - See all my reviews

Amazon Verified Purchase

This review is from: Six Steps to Creating Profit: A Guide for Small and Mid-Sized Service-Based Businesses (Hardcover)

Pat's book is a very useful tool for all business owners. It is a must read for all and spells out the basics of business with simplicity and great insight.