Nursing Agency: How to Double Your Profits

 

No really, double profits, finally take a vacation, increase business value and more.

This year we've been working with nursing agencies to help them fill nursing shifts.  What we learned about agencies surprised us!  While there is a high demand for supplemental nursing, agencies are seeing their margins continuing to deteriorate.  What this means for these agencies is, even with high demand, agency owners are working more hours and seeing less profit.  The good news is that after working with these agencies on their technology for a few months,  many of these agencies saw that their margins improve.  With some agencies doubling their profit margins.  If you think you could live with doubling your profits we'll try to explain how we did it for these agencies and how you could improve yours as well.

Topics: Business Development Business Technology EBITDA Mutliplier

The Vision 2.0 Variable

Using the Vision 2.0 Variable

Do you own a successful business? Is your plan to keep growing that business? If so, then then the Vision 2.0 Variable can help!

Topics: Business Development Employee Productivity Capacity Planning Vision 2.0

Organizational Transformation into a Vision 2.0 Model

Why do some businesses thrive (about 3%),

....some survive, (about 95%) and...

....others fail? 

A successful business is a complex system, where small changes can make or break the company.  Successful organizations are made up of seven business subsystems.  Each business subsystem is made up of a set of business processes. 

Topics: Business Development Vision 2.0 Business Transition Business Model Organizational Transformation Next level of business Business Transformation

Increasing Sales or Building Capacity - Which Comes First?

This is what you might call a Chicken or Egg question, "Which comes first?” It is a conundrum which can be difficult to answer and people affirm the truth to both sides of the argument. In this case, our chicken or egg can be equated to “Sales or Capacity.”

If sales come from selling widgets and the number of widgets sold determines sales, which comes first: The ability to make more widgets or the ability to sell more widgets?

Over the last 30 years, I’ve changed my point of view on this question more than once, depending on whether I was producing widgets or selling widgets.

Topics: Business Development Business Value Business Assessment Technology Self-assessment Employee Productivity EBITDA

What to Expect When You Hire a Strategic Business Development Consultant

Your leadership team has determined the present marketing strategy and sales tactics need to support aggressive organizational revenue growth and the service needs for your customers. Your leadership team is also aware of the need to better understand your customers’ needs and the importance of providing new and competitive services as the organization grows.  You want to avoid risks and pitfalls which often occur when making major changes to any business and/or technical system.

To minimize the risks and accelerate success with building and driving marketing and sales, your leadership team is now open to outside expertise from an experienced team such as Business Cloud Services.

Topics: Business Development Strategy Planning

Get More Sales by Maximizing Your  Weak Link Network

I also call this the “Who do you know strategy.”  When developing a business strategy, we go to our weak link network. Write a custom email to each person in your network and If they know someone who could be a prospect, invite the weak link to have a personal phone call or meeting.  You can then discuss their connection and the best way to make an approach.  There are two ways to make the introduction and referral: 1) In-person or 2) by email. 

Note:
Weak links are people in your network you don't connect with frequently.
These are your best referral partners.

Topics: Business Development Weak Link Strategy Business Networking Building a Professional Network Referrals

“It’s a numbers game” - Sales Hunting Strategy

If you think much about sales, "sales hunting” probably comes to mind.  Sales hunters get out to find new customers who have never purchased from their company in the past.  Traditionally this is a sales strategy I’ll call, “It’s a number’s game.”

It’s a numbers game strategy

In this strategy, sales people do whatever is necessary to talk to as many people as possible.  The idea is if you talk to X number of people, Y number of people will be interested and Z number of people will buy.  Once you know X, then it’s a simple matter to calculate the number of sales. 

This works because of a statistical reality.  At any given moment:

  • 3% of the population are looking right now for what anyone is selling.
  • 7% are open to buying.
  • 30% could be convinced to buy.
Topics: Business Development Sales Hunting Business Networking Sales Strategies

Developing Your Inner Circle of Advisors - The Triad

Why is it important to have an inner circle?

For leaders to collaborate effectively, it is essential they have people's trust.  Studies show strong leaders consistently have circles of trusted advisors.  These circles of advisors are called triads.  Within these leadership triads, games and politics don't typically exist.  As an organization, members begin telling the leader what they think the leader wants to hear.  This leads to problems since leader is not getting the truth. An inner circle of advisors, a triad, ensures truth and wisdom is shared, without games.

Topics: Business Development Leadership Culture Business Networking Building a Professional Network