5 Ways to Increase Your Profit

By Action Coach David Beam

If you have been hanging around Action Coach for very long, you have heard of the “5-Ways”. It’s great to know about simple profound principles that can really boost your business success. However, the only way that the “5-Ways” is going to do that for your business is by taking ACTION. So here is a challenge for every reader of this newsletter. Today, create at least one strategy from each of the five ways to implement in your business over the next 30 days, and do it.

Your Biggest Competition

by Action Coach David Beam

A common question that I get asked as a business coach by business owners is “Who do you think is my biggest competitor?”

Many business owners are very focused on their competition. “How much are they charging?” “What are the new services or products that they are going to roll out?” “What do they say about us?” “How well do we compete in the market compared with them?”

Frankly, searching for answers to those questions really has minimal value. The reality is that your biggest competition is not the other guy or gal, but YOU! The single largest limiting factor to your success is not outside, but inside. Instead of focusing on what others are doing, the most leveraged way to improve your business and realize success is to look in the mirror.

Looking for Opportunity in a Challenged Economy

by Action Coach Dave Beam

Just like the seasons of the year, the economy cycles. It appears that we are headed for a heavy economic winter season. Winter is not bad. It just requires preparation and an appropriate response to make it good. In fact, if you are a child, you look forward to the fun that comes with the change of season. A fundamental principle for facing any challenge is to understand that circumstances are neither good nor bad. It is your response to circumstance that turns that circumstance into a fun adventure or a devastating disappointment. It is essential, especially in challenging times, to be ready to create, change, and innovate. People who are filled with fear, worry, and distress are not in a creative frame of mind. Remember that spring will eventually come, and how you respond in winter will prepare you to plant in the spring.