eMalahleni Business Community inspired to increase profits
Business owners from across Witbank were awarded with the opportunity to meet an incredibly interesting business leader, New Zealand’s top business profit expert, Mr Andrew Johnston.
The talk took place on Tuesday, November 4 at the newly opened Mama Lisa Conference Centre and provided information on the six most effective tools to increase business profits, from merely looking at turnover to later opening additional branches and even growing a business vision to include franchising.
Andrew worked as an engineer for 18 years until one day he looked at the machine he was hired to make 1% more efficient and realized his job has so very little do with people and helping them.
So I decided to open a business and actually opened four in total, ranging from a daycare centre to sale of industrial supplies. I wanted to help people with employment and each of my businesses employed quite a number of people.
What is possibly the most amazing thing about Andrews’ businesses is that he still worked as an engineer and the businesses were run purely by his management through brief weekly meetings.
Andrew took time to discuss a few invaluable techniques with business owners from effective time management to installing systems that can run without constant supervision, as well as inspiring employees to reach their potential.
He discussed the cycle of efficiency where an owner should focus on employees to equip them with the right skills to best address customers needs which in turn would bring back return business and then benefit the owner, and so the cycle continues.
The event was sponsored by Action Coach, an international franchise which specializes in business coaching at which the Witbank branch coach Alida Niehaus provided some additional insights as to how a company can receive coaching to reach their full potential. Various key points were highlighted as areas of possible improvement.
Andrew concluded the seminar with a brief demonstration that revealed a simple increase of 10% leads and conversion of leads into buying customers could have an impact of a 61% total increase in annual profits.
If you can apply these basic principles into your business, it will start to run more efficiently, increase profits, and amazingly even provide you with more leisure time.
Needless to say many people left inspired and energized with the countless thoughts of improving their company, franchise or retail stores.