Avenice Thompson, profit-acceleration strategist, focuses on doubling profit without spending on marketing. Avenice shares common business-owner mistakes she observed in her corporate career, including underpricing, poor invoicing, and weak cashflow management, illustrated by a vendor unaware he'd been paid $1.2 million. She explains her proprietary profit acceleration tool that benchmarks a company's profit margin against industry standards and sets short-term goals. Avenice emphasizes "mindset over money" and her success formula: mindset and movement plus competence, confidence, and commitment. She offers no-cost strategies like the "three 5s" (cut cost of goods sold 5%, cut overhead 5%, raise revenue 5%), reactivating past clients, eliminating unused subscriptions, negotiating rent, and defining a market-dominating position through differentiation and joint ventures.

Timestamps:

00:00 Welcome and Topic

01:25 Money Left Behind

04:40 Profit Tool Benchmarking

06:11 Mindset Over Money

08:05 2M Plus 3C Formula

11:07 Three 5s Profit Boost

13:36 Reactivating Past Clients

16:01 Cut Costs and Negotiate

17:27 Market Dominating Position

19:56 Joint Ventures Referrals

23:42 No Cost Differentiation

24:41 Daycare Value Example

28:03 Contact and Programs

30:51 Wrap Up and Free Call

Get In Touch:

If you're interested in connecting with Avenice Thompson, you can reach her via her website (https://yourbiznessbar.com), via Facebook (https://www.facebook.com/YourBiznessBar/), via Instagram (https://www.instagram.com/yourbiznessbar/ ), or via her LinkedIn (https://www.linkedin.com/in/avenicethompson).

For those interested in sharing their own stories on "Chatting with the Experts," reach out to Paula Okonneh through her website at chattingwiththeexperts.com or connect via LinkedIn.