To Generate Higher Profits You Need to Master the 3 P’s
As a leader, you don’t need to just be familiar with the 3 P’s, you need to master them. This is completely vital to the success of your business and to generate higher profits.
Once I mastered the 3 P’s, I didn’t stop there… no, I continue training every single day—and so should you.There are 31.5 million small-to-midsize active businesses in the US right now… and statistics say that two thirds of them will FAIL within 5 years… Why?
Maybe they didn’t have their finances in line… or it “got too hard”; or perhaps the main reason is these business leaders didn’t realize the importance of mastering the # P’s.
The P’s highlight what you need to focus on. Let’s say your weakness is people, then this is what you will spend the most time mastering, and you will see monumental growth in your business once you do; this plays directly into the importance of the result of the highlight… that’s what you need to be able to accomplish at the end of the day.
Here are the 3 P’s every business owner and leader should know, practice, and live by in order to get higher profits:
P # 1: Promote
Grant Cardone says that “Success is your duty”, but in order to achieve that success, you have to promote, promote, promote.
You want people to know who you are, why you are doing it, and who you are doing it with. And keep in mind: it’s not WHAT you do, it’s WHY you do it. And “it” can be anything from selling homes, to providing mechanical services; you just need people to know WHY you’re doing it.
You’re doing it because you want to make people’s lives better or easier. Whatever your reason, make sure you’re PROMOTING it. Promote it well, be precise, and ensure that people understand 100%… because where there is confusion, there is failure; remember that.
You also need to talk about the impact that your business has created. Back your claims up with proof: Proof that your method works; Proof that your mission, vision, and culture, are as good as you promote them to be.
P # 2: Process
I can’t stress enough how important it is to have a proven process that works. Business owners often forget what it is that got them to where they are… and if they had a documented process to go back to, they’d know.
Making sure you KNOW what you’re doing is the catalyst in creating a scalable system. And that’s because you’re creating systems and processes that WORK and you are documenting them for the future.
A proven process allows you to share with someone else and train them on how you did it in order to duplicate that success! This leads me to…
P # 3: People
Without great people, you will NOT have a great business. Read that again.
I know that businesses don’t move people, people move businesses. And here’s something John Maxwell talks about with the law of the lids: you will never hire someone with a higher lid than you, no matter what that lid is.
So to get the right people inside of your organization, YOU need to be absolutely CERTAIN of where you want to take your company as well as the processes that are taking you to the top and keeping you there; and you need to PROMOTE your business because you won’t find anyone to do those things for you, if YOU’RE not willing to do them yourself.
Like I said before, being a successful leader and business owner is being able to master the three P’s above.
But like everything in life, once you master one level… then you master the next… And the next, and so on, and so on; that’s part of the thrill of playing at the top.
And if you want to create a massively successful, valuable, and scalable business and higher profits, here are the other 3 P’s you should study and master:
P #1: Performance
You need to ask yourself, “How well has my business performed in the past? How well is my business performing right now?” And be honest. To do that, you need to look at all the good and all the bad.
P #2: Predictability
People are buying in on future opportunities, based on predictability. Future buyers need to know that they can count on you, and that’s completely based on past and current performance. That is why it’s important to have great performance in order to have great predictability.
P #3: Potential
Where there is potential, there is success… but the main thing about potential is you still have to work for it! This is the number one mistake I see business owners making: overselling on potential.
The number one thing to keep in mind is people aren’t buying solely based on your potential. If you want to convince someone of your potential, first show them how well you can perform.
If you want higher profits through a proven process, we can show you how to do that in 10 minutes. Schedule your call and 10X your business today.