Summary: Synopsis Brad Sugars of ActionCOACH joins Dr. Misner today to talk about three things: The 5 factors that exist in every business to increase and multiply profits. How just a 10% increase in each of those factors can mean a much larger increase in the bottom line. Easy ways to start boosting profits. The 5 Factors Leads Conversion Rate Number of Transaction Average Dollar Sale Margins Increasing Your Bottom Line Divide to multiply: if you want to improve each of your 5 factors by 10% over the year, that's a 50% increase in your bottom line. See Bradâs Facebook Page for the whole formula. The Easiest Way to Boost Profits Immediately Start measuring your results, particularly conversion rate. This is known as the Hawthorne Effect. Brought to you by Networking Now. Complete Transcript of BNI Podcast Episode 265 - Priscilla: Hello everyone and welcome back to The Official BNI Podcast brought to you by NetworkingNow.com, which is the leading site on the net for networking downloadables. I am Priscilla Rice, and I am coming to you from Live Oak Recording Studio in Berkeley, CA. I am joined on the phone today by the Founder and Chairman of BNI, Dr. Ivan Misner. Hello Ivan. How are you and where are you? Ivan: Hi Priscilla. I am doing great this week. I have a meeting up in Big Bear with my Executive Management Team of BNI. Those are the top managers in the organization. And the Executive Council, which is the top 7 countries for BNI, the National Directors. We get together at least a couple times a year and take a look at where the organization is headed, how we are going to get there and lots of times, we manage to get out on the lake a little in between. Priscilla: That sounds like fun. Okay, who do you have with us today? Ivan: I am really pleased to say that I have on the line with us a good friend of BNI, Brad Sugars. I consider Brad a personal friend as well. He is the Founder and Chairman of ActionCOACH. Brad was actually born in Brisbane. I actually came back last month from a tour in Brisbane, Sydney, Adelaide and Perth. That was all over Australia. Wonderful country that you are from, Brad. I really like Australia. Brad is well-known as an international business speaker, author and entrepreneur. He comes from three humble beginnings. He is a self-made multimillionaire. He is, as I said, the Founder of Action COACH. Along with his family, he said one of the biggest influences on his life is Jim Roane. He often tells audiences how as a teenager, he scrimped and saved money in order to afford tickets to go to a Roane seminar while his friends were out spending money on games and movies. I can relate to that. One of the things that Brad recalls is when Jim Roane told the audience to work harder on yourself than you do on your job. I think that is great advice for BNI members to hear. Today, ActionCOACH operates in 39 countries. They have 1,000 offices around the world. BNI has a strategic alliance with Action COACH. We appreciate that relationship. There are literally hundreds and hundreds of ActionCOACH coaches in BNI. Brad, welcome to BNIpodcast.com. Brad: Thank you, buddy. It is great to be here. It's great that you have been to Australia recently. You know, it's a wonderful thing to be with all the BNI members today. Ivan: You are going to talk about three things that I think will resonate with BNI members: factors to increase and multiply profits- how just a 10% increase in each of those factors can mean a much larger increase in the bottom line, and some easy ways to start boosting profits. Those are the talking points t that you have for today. I think all three of them are great for BNI members. So let's start with the five factors that exist in every business that can increase and multiply profit. Brad: I hope everyone has a pen and paper handy because we have a lot to cover in a very short space of time. If you look at the five factors,
