How to Boost Profits When You Limit Your Focus

May 4th, 2017 Tags: Branding, Dexter Montgomery, Pamela Montgomery
Posted in How to Sell Information Products on the Internet, Podcasts

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How to Boost Profits when You Limit Your Focus

How to Boost Profits When You Limit Your Focus

In this episode of My Biz Dream Team: Opportunity Wednesday Training Series, Dexter and I discuss how to boost profits when you limit your focus. It may sound counter-intuitive. But it works! Using examples from our experiences, and other business niches, we demonstrate that limiting the scope and focus of your business helps to boost your profits.

Is Your Business a Specialty Shop or a Variety Store?

Imagine walking through the mall. You come across two stores. One sells a variety of toys, groceries, clothes, magazines, and toiletries. The other store sells only chocolates. It specializes in selling only the finest Belgium and Swiss chocolate candies. You will not find chocolate cake or chocolate ice cream.

You may be thinking that the owner of the store with the wide variety of items is the smart business owner. In your way of thinking, the variety store attracts more customers because of the wide range of products. They may have more customers. But are the customers loyal. If one of those customers heard about a cheaper price for one of your items, they would go across town to buy it.

The owner of the specialty chocolate store can charge a premium for her products. There is a greater perceived value because of the specialization. This product is not for everyone.

Is your business offering a variety of products with no consistent theme? Or are you specializing in a few types of offerings? Are you positioning yourself as a leader in your niche? Do you offer premium products and services? What do your products and services say about your brand?

You can boost your profits when you limit your focus, because your clients will:

 1)   Be far more loyal,

2)    Spend more money per visit, and

3)    Rave to her friends about the valuable products and services that you offer.

Conclusion/Call to Action

You can boost profits when you limit your focus. That should be your goal. Develop brand loyalty for your exclusive, specialty products and services.

At My Biz Dream Team, we can show you how to develop an internet lifestyle business that can help you reach your money goals. Check out The Strategic Pathway to Success Program™. Let us show you how to reach your goal of creating a lifestyle and a business that you love!

 I am Pamela Montgomery, attorney, author, entrepreneur, and speaker, helping you create the life of your dreams as you achieve uncommon results in your business and in your life!

Also published on Medium.