If you want to summarize the running of a business into just one simple formula, it should look like this :
1) Revenue – Costs = Operating Income
2) Operating Income – Tax and interest expenses = Net Income
There are only two ways for anyone to make more money in any business endeavour:
a) Increase Revenues
This happens only if I can get more customers to sign up for my program. One way would be to keep varying my marketing preview messages so that more potential customers sign up. Another way would be to increase the frequency of my preview talks.
There is also the possibility of adding more courses. The answer I have chosen for myself is to keep improving the value of the cost to justify fee increases.
b) Reduce Costs
It is much harder for me to reduce costs so I do avoid taking this route in my work.
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