Profits up or down this year?

[huggytree]

Are your Profits Up or Down this year?

why do you think they are Up or Down?

What have you dont right, what have you done wrong?



My Gross sales were down until 30 days ago, now they are up 15% and profit is up 25%. I have switched from 50% new homes to only 25% new homes and thats why I my profit is up more than my gross sales....there is more profit in remodeling than new construction.

I feel most of my success has been
.1 staying on course with my advertising(i keep hammering every contractor monthly with something in the mail)
2. expanding what i do to include service work. I used to give away the minor 1 hour jobs. I dont make much $ on them, but they lead to future work and referrals and you can make a full day out of 4-5 of them..better to make 1/2 your normal $ than Zero!....

I had 2 good months which has brought my #'s up from last year. Is it a trend with the economy? Spring was horrible, usually its busy..i think people just delayed their spring remodeling until summer...they waited 3 extra months to be sure...Fall is usually my best 3 month's....Im looking forward to see how much i can grow my gross sales by then...hopefully i can help Obama out and give him some extra tax $.

[vangogh]

Business is up for me this year. I don't think it has anything to do with what's going on with the economy at all. Just timing for me. When I started I set out on a longer term plan that would consistently grow my business. The first year or two were a struggle, but they set the foundation for where I am now. Each year I've made more money than the last. I hope that continues.

I guess it's the same as your point 1 above. I've stayed on course with my marketing and as a result continue to gain more clients. I suppose I've also expanded my marketing by being visible in more places.

I haven't expanding on my services, though expansion is the goal for the next few years so I can keep growing.

[Dan Furman]

I've noticed a drop overall, because last year at this time, I had two monster projects already in the books. This year, I actually have *more* entrepreneurs starting businesses who need copy. But those "we need 300 well-written articles for both sales and SEO purposes" are not there this year (yet).

[billbenson]

Up for pretty much the same reasons as Vangogh. Repeat customers, getting in a lot of peoples address book and increasing web sales.

The company I represent has had a decrease in business, but not a radical one.

[orion_joel]

For me it is down, however this is because i have not put a lot of focus on my business. I am really trying to figure the direction that i want to take the business so it is sort of i limbo at the moment.

With the upcoming year i am expecting that it will grow quite a lot, because of a few different reasons, but i suppose only time will tell.

[Spider]

All the people I coach have improving conditions, as far as I can tell. I say, "as far as I can tell," because not everyone I coach has approached me to increase their profits. One person, for example, only consults me about advertising in Europe. He has seen a considerable improvement in response resulting from our conversations which, I must presume, has resulted in increased sales, because he is very happy with his results.

Then there is HuggyTree, whom I have been coaching for the past four months. His results have been especially pleasing. HT and I have not always agreed on the best action to take and this has proven very useful. Not least because my purpose as a coach is not to teach him how to operate his business, nor tell him how to run it, but to challenge him and get him thinking in alternative and creative ways. Obviously these conflict with his present mindset and HT has been a perfect client - listening, considering and explaining what he doesn't like or agree with. This process has broadened his views considerably and made him, I think, a more astute businessman. Others may have noticed the change as HT has been a regular poster in these forum throughout our coaching and I think his growth is quite apparent.

Well done on your higher sales and profit, HT.

[Blessed]

I'm holding steady so far... which is exactly what I had hoped to be able to do. Having a baby this year pretty much determined the holding steady goal for me. However... I have been doing some great local networking and will have my website up and running soon - both of those things will help me with my goal of growth for 2010!

[Baseline]

Way down- I am in a development related field. Better than several friends, who are declaring bankruptcy or going insolvent, but not quite the expanding business I was planning on. C'mon, banks, start lending..........

[vangogh]

I think you might be waiting a little longer for banks to be lending. Unless of course you're one of the few who doesn't need the loan in the first place. Then you can get a loan.

[huggytree]

i have lost atleast 3 large project because of loan problems ($60k)

people who should be able to qualify are being turned down....when the banks finally decide to start giving loans again things will pickup on the new home / major remodel front...i had 1 new home where the guy was $5k short of getting the loan...i was urged to get all the subs to give him $1k because work was so slow this spring...i would have still had alittle profit left and kept busy.

[Spider]

I have heard that the small, local banks are still lending and possibly the credit unions. You know, the boring, conservative types that never went in for this high-leverage business. They are still there and are lending as much as they ever did.

[orion_joel]

Any bank that lends more so based on the funds they have available from deposits is more likely able to continue lending then a bank that is leveraged a little high and trying to get it refinanced at the high level they are working.

In Australia i think finance is still fairly available, however it is a much tighter market then it was.