The Key to a Predictable, Profitable Business
August 31, 2009
This weekend I was enjoying some Margaritas with my friend Chris. He is one of the greatest entrepreneurs I know (and I know many, many entrepreneurs). You have never seen him in the news or on the front of a magazine, and that’s because he wants it that way.
Chris’s company throws off a 37.6% net profit, every month. And when I say net, I mean NET. This is the money left over AFTER all business expenses, all salaries (including his), after depreciation, after interest and after taxes. Oh yeah, and I forgot to mention his company does over $1M… every quarter. Just in case you haven’t had your coffee yet, that is $4M a year business, with a net profit of $1,400,000 every year. Like clockwork.
With enough Margarita’s Chris grabbed my arm, and with a slight slur (Margarita’s will do that to you), told me the “secret’ to his success: Recurring Monthly Fees.
Recurring monthly fees are the secret to predictable, profitable businesses. It works for Chris, and it works for me. Now, you need to do the same. more
