Avenice Thompson, profit-acceleration strategist, focuses on doubling profit without spending on marketing. Avenice shares common business-owner mistakes she observed in her corporate career, including underpricing, poor invoicing, and weak cashflow management, illustrated by a vendor unaware he'd been paid $1.2 million. She explains her proprietary profit acceleration tool that benchmarks a company's profit margin against industry standards and sets short-term goals. Avenice emphasizes "mindset over money" and her success formula: mindset and movement plus competence, confidence, and commitment. She offers no-cost strategies like the "three 5s" (cut cost of goods sold 5%, cut overhead 5%, raise revenue 5%), reactivating past clients, eliminating unused subscriptions, negotiating rent, and defining a market-dominating position through differentiation and joint ventures.
Timestamps:
00:00 Welcome and Topic
01:25 Money Left Behind
04:40 Profit Tool Benchmarking
06:11 Mindset Over Money
08:05 2M Plus 3C Formula
11:07 Three 5s Profit Boost
13:36 Reactivating Past Clients
16:01 Cut Costs and Negotiate
17:27 Market Dominating Position
19:56 Joint Ventures Referrals
23:42 No Cost Differentiation
24:41 Daycare Value Example
28:03 Contact and Programs
30:51 Wrap Up and Free Call
Get In Touch:
If you're interested in connecting with Avenice Thompson, you can reach her via her website (https://yourbiznessbar.com), via Facebook (https://www.facebook.com/YourBiznessBar/), via Instagram (https://www.instagram.com/yourbiznessbar/ ), or via her LinkedIn (https://www.linkedin.com/in/avenicethompson).
For those interested in sharing their own stories on "Chatting with the Experts," reach out to Paula Okonneh through her website at chattingwiththeexperts.com or connect via LinkedIn.
