Summary: The idea of The Four Mores is to recognize that if you want to maximize profit but you're just focusing on bringing in more clients -- you are very likely missing out on 75% of the available profits that are going to come from these other three quadrants.<br> <br> <br> Maximize Profit with The Four Mores<br> David: Hi, and welcome to the podcast. Today, co-host Jay McFarland and I will be talking about The Four Mores: More clients, more money, more margin, more often. Great to see you again, Jay.<br> <br> <br> <br> Jay: Yeah, it's good to be here. And I feel like there's one more more, if you can get all of those. More happiness and more peace of mind, right?<br> <br> David: Yeah. That's true. There are more than four mores.<br> <br> Jay: Yes.<br> Quadrant #1: More Clients<br> David: I think that what we're thinking of here is that these four mores are designed to increase the value of our clients and increase the value of our businesses. A lot of times when people are thinking in terms of growing their sales and profits, they think in terms of the first more. They think in terms of more clients.<br> <br> “I need to get more clients, “I need to get more business.” And so many business owners focus their time and attention exclusively on bringing in more customers. And sometimes what ends up happening is they forget about the ones that they have. And they start to lose track of the fact that they could be drifting off.<br> <br> Anyone who's been in business for any length of time has heard the old adage that it costs a whole lot more to bring in a new customer than it does to resell an existing customer or to satisfy an existing customer.<br> Stop Missing Out<br> But it's easy to lose sight of. And so the idea of The Four Mores is to recognize that if you're just focusing on one thing -- bringing in more clients -- you are very likely missing out on 75% of the available profits that are going to come from these other three quadrants.<br> <br> Jay: Wow. That's very good. And kind of like we talked about last time, moving people into that center zone, that loyalty zone. Right?<br> <br> David: Yes.<br> <br> Jay: And then, if they're reoccurring, I mean it just makes life so much better. If you have a loyal base and then you're bringing in more clients, to me it's just the perfect pattern, right?<br> <br> David: Yeah, it does. So now we've got sort of conflicting visual images, however. Because last time we were talking about a target. Now we're talking about quadrants, but it's all designed to accomplish the same thing. Which is to get more of our clients buying from us more often. Spending more money with us at higher profit margins so that we can continue to grow the business, service those people. And without the profit part of it, you're dead in the water. I mean, you cannot continue to operate without that. So each of these four components is absolutely critical to being able to grow the business the way that we want to do it.<br> What About Quality of Life?<br> Jay: Yeah. A good, healthy business that is making money, is growing, has loyal customers. And hopefully giving you peace of mind and maybe some quality of life. Right?<br> <br> David: Exactly. Yeah. Quality of life is a nice bonus for some people <laugh>. It should be a requirement, but it's not always a requirement. Sometimes we sacrifice quality of life just to reach our financial goals. Sometimes, particularly in the early stages of a business. But eventually, yeah, we learn.<br> <br> But one of the things about this topic that I think is so important is that when you look at each of these four elements and you focus on them and you focus on improving them, it does improve your quality of life.<br> <br> Because now you're not investing a lot of time on aspects of the business that are less important. Because if you think about the idea of bringing m...
