The Only 5 Ways To Increase Business Profits

The Only 5 Ways To Increase Business Profits

Tim Fitzpatrick
Are you interested in increasing the profits for your company? If so, there are really only five ways that you can increase profits in a business. And I have a business coach with me today. He is going to break down these five ways to increase profits and give you some tips to help you get started on the right foot. Hi, I am Tim Fitzpatrick with Rialto Marketing, where we believe if you want to accelerate revenue growth, you've got to remove your revenue roadblocks, and we can help you with that. Thank you so much for taking the time to tune in. I am super excited to have with me Bob Liebhauser
from Action Coach. Bob, welcome, and thanks for taking the time.

Bob Liebhauser
Thanks, Tim. I appreciate the invitation.

Tim Fitzpatrick
Yes, I am excited to dig into this. Who doesn't want to increase business profits? Right? Before we do that, I want to ask you some rapid fire questions to help us get to know you. Are you ready to jump in with both feet?

Bob Liebhauser
Shoot.

Tim Fitzpatrick
Okay. When you're not working, how do you like to spend your time?

Bob Liebhauser
I have a pretty simple life, so obviously family, so three daughters, five grandkids, and my life is really my wife. I run for my main hobbyist, so that takes up a lot. And then, of course, the other big thing, the bacon, is my business, which I've had for 18 years with Action Coach, which is a franchise business.

Tim Fitzpatrick
What's your hidden talent?

Bob Liebhauser
Hidden talent? I think a lot of people would say I probably don't have that many hidden talents. I probably am very transparent as far as things. So talent is obviously a very subjective word, doesn't it?

Bob Liebhauser
If I had one talent, I think my running, because I'm not fast. So it's kind of ironic that I mean, how can you be a good runner if you're not fast? So I started running in 85, and I found out that even though I'm not fast, I have a lot of slow twitch muscles, which makes it good for distance. So I've run a lot of marathons. I've run Boston many times. And you have to be fast to qualify for Boston, but that's relative based on age. Other than that, I'm a pretty simple guy.

Tim Fitzpatrick
Cool. What's the best piece of advice you've ever been given?

Bob Liebhauser
Best piece of advice? Well, I think I would go back to my father, and this is before Facebook and all social media, obviously, and he said, Bobby, people really don't care that much about you, okay? So maybe quit talking about yourself because really nobody cares. And I remember that very clearly. But after I started my business, like I said, 18 years ago, working with business owners, I slowly did learn that that was a very true statement. And so therefore, I probably don't do a lot of posting on Facebook and things like that because that message kind of resonates with me. And then also in my profession with personal life and with my business, working with business owners, it's a simple concept that it is truly all about them. And if they want to know something about Bob, it's easy to ask a question, happy to answer.

Tim Fitzpatrick
Yeah, I love that. What's one thing about you that surprises people?

Bob Liebhauser
One thing? Well, I think I'm halfway modest. I really don't talk about my running, so if they ever happen to learn about my running and they found out that I've run, like, 93 marathons and 25 bus and marathons, I think that would surprise them, other than I'm pretty transparent. So when people get to know me, like, really well with running, one of my nicknames was Bob Noxious. So I don't think that many people would be surprised that you are kind of obnoxious at times. But again, with coaching, it's not for the weak of hurt.

Tim Fitzpatrick
Yes, that's right. What does success mean to you?

Bob Liebhauser
I think success, obviously it's interesting because it can be defined in many different ways, and we hear many of them, we learn about many of them. I think being in control of our lives, being able to control our time, not having financial constraints, and having a way to get there. And of course, being a business owner beats the heck out of having a job and being just over broke. I think having a life where you control your time, you control your income, your revenue, the money coming out and what you do with it, and being able to take care of loved ones, take care of your family. So not being able to use an excuse of, I'm sorry, I can't help you out, we don't have any money, either kind of thing, versus how can I help you? Having the ability to help, especially family members, other people, of course, but giving back, I guess you might say, and being able to do that in life, living a life of abundance, I think, is a part of being successful.

Tim Fitzpatrick
Where's your happy place?

Bob Liebhauser
Happy place is probably 6:00 in the morning at Washington Park, running around, doing two laps, splashing in the mud, saying hi to people, being in my empty box. Guys have empty boxes. So just being out there, getting some exercise and doing something, so that's a pretty happy place.

Tim Fitzpatrick
What qualities do you value in the people you spend time with?

Bob Liebhauser
Well, I kind of had to do a 180 18 years ago when I only prior to that was always an employee. So owning a business, I got to really get on the bandwagon of personal growth and learning. So it's really people the ideal position is for me to be around people that value learning, value personal growth, and getting better and improving every single day until we hit the finish line.

Tim Fitzpatrick
I love it. Bob, tell us a little bit more about the types of people you're working with at Action Coach.

Bob Liebhauser
That's interesting. So I've worked with well over 100 business owners in the last 18 years. And of course, some are fits, some are better fits than other fits, but there's universal traits to the people I get to work with and their success in working together. So it's people that really are passionate about being the best they can, about the growth that I mentioned, about personal growth and being better and learning, throwing themselves with a great team, not having an I know attitude. I mean, there are certain things that just don't work with coaching. So if somebody doesn't want to learn, they don't want to grow. They have an I know attitude that's like, the direct opposite of the kind of person that I would be able to work with and help achieve their goals. The big fun part of that is, when their businesses do grow, that allows them to have their personal life grow, and the possibilities in their life also grow. So it opens a big barn doors of life that anything is possible. And if I want to double my income, double whatever I want to do, I can do that next year. I have the ability to do that because I am 100% responsible and in control of making that happen. So then that only leads to the next obvious question of how is that going to happen? What is going to make that happen? What are the ingredients of that recipe that I need to put in place to make that happen in my life?

The 5 Ways to Increase Business Profits

Tim Fitzpatrick
Got it. So let's talk about profits. I touched on this in the beginning. There's only five ways or areas in a business that we can address to increase profits. What are those? And by the way, for those that are watching, we're going to share a document here so you can actually view it. If you're listening to this, we will make sure that we put this document in the show notes so you have access to it. But let's dig into this. Bob, what are these five areas?

Bob Liebhauser
Okay. It's kind of an interesting question. You would think that every business owner on the planet would be able to answer that question, won't you, Tim?

Tim Fitzpatrick
You would. But I think it's very easy to miss the things that are right in front of us, is it not?

Bob Liebhauser
The most obvious things in life. But again, nothing is obvious if we haven't learned it. This is one of the keys that Action Coach came up with Brad Sugars, who started Action Coach, like, 29 years ago, this is one of the tools that we put in the toolbox, one of the main ones, obviously. Because if owning a business is all about making a profit, would it not be good to really have a clear handle on what does that mean? What are the five ways that you can grow the profits of your business? As far as I know, the only five ways. Okay. So this is kind of like we're going to go through a document, I think it's like five pages, but it's pretty simple and clear, I think. So I'm going to show you an example of what it looks like in a formula kind of thing, and details. So we'll just take it slow, one at a time. So the five ways are listed right here, so one through five. So essentially these are the five ways and the only five ways that I know to increase the profits of a business. So let's go through those and kind of define the terms so that we have the same definition for each of the words we're looking at, because otherwise, I guarantee you we don't. So leads, number of leads. So what does the word lead means? I want to be conscious of time here, so I'll just give the definition. Okay. So we get many definitions. If you were to ask many different business owners, well, what is a lead you get definitely get different definitions. So we market. You happen to have a marketing business, right, Tim? So I would assume that the purpose of your marketing business first and foremost, is to develop leads and supply businesses and business owners and salespeople with leads that they can convert to clients. Number of leads. So leads, if somebody shows interest in doing business with us, either written, verbal, whatever it is, it doesn't matter. But if they show interest about wanting to learn more about what we do in general, that is a lead. They're showing interest. They can do it different ways, but if they show interest, it's a lead. It doesn't mean that they're qualified, that they match our target market, but it just means that, hey, they're curious. And if they're curious, they're curious for a reason, unless they're really bored. So somebody shows interest, that's a lead. The second of the five ways, as you can see, is conversion rate. So there's only two ways to get more customers or to add customers to our business, and that is to have a lead, number one, and then to convert that lead to a client. So if you have ten leads and you end up with two customers, that's a 20% conversion rate. Conversion rate is always going to be a percent, and it's the percent of the leads that you convert to customers. Third one is number of transactions. So how often do you do business with somebody? A good example of that is you go to the beautician, or in the case of you and I, maybe we just go to a barber, but the barber says, you know, Tim, I know you're coming in every two months, but you look really shaggy when you come in. Tim, you should really come in once a month. So why don't we just schedule you once a month to come in and get your hair fixed so that you don't look squarely for a month at that point, that barber, actually, and if you say yes, that barber has doubled the number of transactions with Tim for the next year. So how often you do business with somebody? Do business with them more often, but how can you do business with them more often? And then the third one of the five ways is number of transactions. Oh, I'm sorry.

Tim Fitzpatrick
So we have number of leads, conversion rate, number of transactions.

Bob Liebhauser
Then we go to four. So now we're on average dollar sale. So obviously, if the barber shop raises their prices by $5, overall, their average dollar sales is going to go up by $5. So how do you figure out average dollar sales? You take total revenue of the business and divide it by how many invoices you created and billed for, and you divide it. And that's what the average customer pays every time they do business with you. So your haircut might be $25, it could be $35 if they charge everybody $35, but last year they charged them $25, their average dollar sale went up by $10. It's a variable.

Tim Fitzpatrick
With average dollar sale, there's two things come to mind here. You touched on one of them, which is we can increase our pricing. We could also sell more things. Right?

Bob Liebhauser
Right. They could say, well, Tim, when you come in, we really like to service your beard also. We can do that. And so all of a sudden now the barber is taking care of your beard and your hair. Exactly.

Tim Fitzpatrick
Or they're selling me shampoo or conditioner or gel or whatever.

Bob Liebhauser
Exactly.

Tim Fitzpatrick
Got it.

Bob Liebhauser
And we're going to show that later on. We're going to show the details of the strategies around this. And the fourth one is profit margins. So there's a lot of different strategies to increase our profit margins. So we'll get into that. But under the category of margins in general, there's two potential places to look. One is gross profit margin. So if you do have cost of goods in your business, if you take your revenue minus your cost of goods, you get your gross profit to pay the rest of the bills. So that's one line that's called gross profit. And then, of course, the bottom line of the P and L, after you pay all your expenses and subtract, if you have any revenue left, that's your profit. And you take that profit divided by your revenue. And that's your margin, whether it be $0.05 on a dollar, 10% or 15% or 20%, whatever it is. So margins usually are a percentage also.

Tim Fitzpatrick
Got it. So with margin, we're looking at increasing pricing and or reducing expenses.

How to Start with the 5 Ways

Bob Liebhauser
Right. I'm going to show you a formula right now and an example of how it's lined out. And the concept behind these next two slides that I'm going to show you are number one, when I start coaching somebody, we work together and get their today's five way numbers. We might look at last year for 2021 and say, let's put in your last quarter, or last year is five way numbers.

Tim Fitzpatrick
Okay.

Bob Liebhauser
So you're going to see how the math works here. So it's pretty simple. It's not rocket science, and it's only multiplying. And that's about it. A little bit of division.

Tim Fitzpatrick
As I mentioned, we'll make sure that we get this document in the show notes for this episode, so that if you're listening to this, you can just print it right out and work through this yourself. So sorry, Bob. Go ahead.

Bob Liebhauser
No, that's good. Okay, so here's an example of a business. Like I said, when I start with a business owner, I will say we need to get together. Let's get your five way numbers together. So we'll do our best to fill in their five way numbers, number one, and then number two, the overall goal you can see in the right hand side where it says 10% increase. The concept behind the five ways is that we're going to work on all five ways, basically simultaneously. Once we get rolling, we're going to kick them off one at a time and work and do them in sequential order. But our overall goal is ongoing, is to work on all five ways simultaneously. And the reason it's very similar to compound interest, because if we work on all five ways simultaneously, and if our goal is to increase each of the five ways by 10%, I'll show you what that's going to do to your business, and it's going to increase it by more than 10%. You'll probably buy more than 10%. Okay, let's put words in numbers here. So, lead generation. Currently this business has 1370 leads, we'll say in a year. Let's pretend these are last year's numbers. 1370 leads came in in 2021, and they ended up with 575 customers. You do the math. 575 divided by 1370 gives you a 42% conversion rate. So this business increase their conversion rate is 42%. So that's two of the five ways. If any business wants more customers, they only have to look at two areas. Right. Tim, what are those two areas?

Tim Fitzpatrick
If they want more customers? You need to generate more leads or they need to convert more of those leads, or both.

Bob Liebhauser
Correct. You're a good student.

Tim Fitzpatrick
You almost caught me not paying attention.

Bob Liebhauser
So if any business owner says, I want more customers, you only have to do work on two areas. Lead generation, conversion rate. Right. Okay, so now we have 575 customers. So obviously the third and fourth of the five ways is number transactions. With those 575 customers don't move, okay. With the 575 customers, they did business four times on average, with each one with an average dollar sale of $780. So you take 575 times four times $780, and you get almost $1.8 million in revenue. So Tim, next question for you here is if you want to increase the revenue of your business from the current number of customers you have, what are the only two ways to increase the revenue or business with your existing number of customers?

Tim Fitzpatrick
Increase the transactions and or increase the average sale value.

Bob Liebhauser
Correct. Okay. Now, you can see on the bottom here now, in my business, it's funny when you run across businesses, because you can have a 2345, whatever, million dollar business revenue business, and sometimes they actually losing money, aren't they? And sometimes they go out of it. It's not hard to do these days, right? It's just not hard. So in this case, out of the $1.8 million, their net profit was $448,500. You divide 448 500 by 1.8 million, and you get a 25% net profit on their business.

Tim Fitzpatrick
Are we talking net or gross here?

Bob Liebhauser
I think we're talking net. We're going to go with net.

Tim Fitzpatrick
Okay.

Bob Liebhauser
So if somebody said if this were your business, Tim, and I said, So, Tim, what kind of a profit margin do you run on your business? In general, we would cut right down to the bottom line. This is before Ibada, right? Before earnings and interest and all of that. Right. Depreciation Amortization so, bottom line, you'd say we're running roughly a 25% profit margin in the business, which means $0.25 on every dollar that comes in goes to the bottom line. And after you pay your taxes and all of that with it, you'll have less left. But for business sake, you're saying, I put 25% on the bottom line.

Tim Fitzpatrick
Got it.

Bob Liebhauser
In this situation. So if a business has so much revenue, but they're losing money, what do they need to concentrate on?

Tim Fitzpatrick
Yeah. They need to increase their profit margin, right?

Bob Liebhauser
In general, yes, in general. Right. So what I want to show you next is if these were your business numbers, Tim, and I said, Tim, I got a boatload of strategies. I have 380 different strategies that we can talk about and pick from to implement in each of the five ways. If we can do that and increase each of the five ways by a meager 10% next year.

Tim Fitzpatrick
What's that going to do?

Bob Liebhauser
Would that be something you might be interested in doing? Okay. Let me show you how the numbers work. And obviously this is a formula, so these numbers just hold. So here's the situation. So let's go through this really quickly. Lead generation. If you increase the existing numbers that I showed you on the first one, you end up with 1507 leads. And if we increase our 42% conversion rate by 10%, it goes up to 46.2%. If you do the math, you end up with 696 customers.So do you think that 696 is 10% more than 575 too?

Bob Liebhauser
Or do you think it's more?

Tim Fitzpatrick
It's more.

Bob Liebhauser
It's more. Why is it more? We didn't rehearse this. Why is it more, Tim?

Tim Fitzpatrick
Well, because you increased your lead gen and your conversion rate by both 10%, and both of those are contributing to the number of customers.

Bob Liebhauser
Exactly. You adjusted two things by 10%. Okay, so we increase now we have a lot more customers than 10%. Number of transactions go up to from four to 4.4. Average dollar sale goes seven hundred and eighty dollars to eight hundred and fifty eight dollars. You do the math and the revenue goes from 1.8 million to 2.6 million. Is that more than 10%?

Tim Fitzpatrick
Yeah. And again, it's because it's compounding. Now we have four different things that have increased, which is then impacting the revenue.

Bob Liebhauser
Exactly. You nailed it. Said it better than I could. Margin, same thing. Net profit margin went from 25 to 27.5 a 10 percent increase. So all of a sudden, our profits went from $448,000 to $722,000. So I'm going to do the math right here. This is what you get with the five ways. So Tom, Dick, and Harry all have different five way numbers, three different countries, companies. You put it in, you do the 10% just like I did here. Bottom line, you will. It's a fact, and 46% increase in revenue and a 61% increase in profit. Which leads to the next obvious question, if we're starting a new year, would you like to increase your profits next year by 61%?

Tim Fitzpatrick
Yeah, who wouldn't? Right.

Bob Liebhauser
It's kind of like who won't. Now mathematically. And with the five ways, you have the ability to do that because you can do what I just did. True.

Tim Fitzpatrick
Yes, absolutely. Or the other thing I like about this, too, is you chose 10%. You can choose whatever you want, but it's going to break down exactly how that's going to look and how it's going to impact your specific business. Or I know, Bob, you would say, hey, we like to focus on all five of these at the same time. Even if somebody said, well, I just want to focus on this one, they could still see how increasing that one by X percent is going to impact the bottom line, which this is a really cool formula.

Bob Liebhauser
Right. The other thing I want to slide in here is that when you and I kicked these off team, we work on them in a sequence. 1st, 2nd, 3rd, 4th, 5th. Most business owners don't want to, there's only one of these that cost money, really to increase. Which one do you think that one is? Which one of the five ways would cost money to do?

Tim Fitzpatrick
Well, the first one that comes to mind for me is lead gen.

Bob Liebhauser
Right? Exactly. So Lead generation is actually going to be the fifth. We're going to do that one fifth because why not do the free ones? So, Tim, if we met tonight and we decided that we're going to start with margins, we're going to start there first, and I said, why don't you just increase all your prices by 15% tonight and update all your marketing material, right. In general, that would not cost you much money to do.

Tim Fitzpatrick
Correct.

Bob Liebhauser
Okay, so here's a freebie. So my point is that we're going to start with margin first, then we go to conversion rate, because we just have to be better to convert more clients. We have to be better at communicating, listening, sales in general, and all the huge bucket of stuff that goes along under the sales umbrella. We have to learn sales. We have to be better. We have to be better asking questions, digging deep, all those kinds of things, right? So we're going to work on conversion rate next. Then we're going to work on average dollar sale. Then we're going to work on number of transactions and fourth, and then we're going to work on lead generation fifth. But overall, I mean, if your conversion rate is 25%, when you actually do measure it and you say, my conversion rate is only 25%, guess what? You could double your business if you doubled your conversion rate to 50%. What would it take to do that? Does that make sense?

Tim Fitzpatrick
Yes, absolutely.

Bob Liebhauser
Okay.

Tim Fitzpatrick
Yeah, it's fascinating.

Bob Liebhauser
So this is all pretty and really nice, but it's kind of like, what does it take to make it happen? Okay, so how do you do this? We have this formula called Be to have so who do I need to be and what do I need to do to make this happen in my business? And this is what I do every day with business owners. Because I work with business owners. I want to make more money because I want to have more life.

Tim Fitzpatrick
Yeah. Now, what else is yeah, okay, so I was going to ask you what else is on this dock?

Bob Liebhauser
We just added a column here that says what are the strategies that we're going to select? Because it's real simple to say, Tim, just starting tomorrow morning, once you increase all five areas by 10%. Okay, I'll talk to you next month.

Tim Fitzpatrick
So what you're saying is, once we make the choice to do this, we've got to have a plan of how we're actually going to do this. And on this page that we're looking at, you've added a column in the formula to outline what tactics or strategies, what actions you're going to take to increase leads or improve conversions.

Bob Liebhauser
Exactly. So an action coach, these are just directions, how to do this page.

Tim Fitzpatrick
Got it.

Bob Liebhauser
This is called our chart, our strategy selector. You can see the formula going across the top. Number of leads times conversion rate, just like this, goes horizontal versus vertical. Okay, so number of leads times conversion rate gives you a number of customers, which is an output, not an input. It's an output time. Those two things that we talk about. Number of transactions, average, out of sale. You do the math there, you get your total revenue. Same formula only vehicle or horizontal. So what I wanted to share with you is we have to show you the bottom, but this is a whole page of strategies. So for lead generation, there's 87 different strategies here that you can choose from to increase the number of leads. Okay. We talked about margins, right. A lot of people aren't making the money they should make in their business. Well, how do I make more money? How do I increase my profit margins? Here's a list of 67 different ways that you can choose from to implement, to do in your business to increase your profit margins.

Tim Fitzpatrick
Got it.

Bob Liebhauser
There's a column for each of the five ways, obviously. Here's what I find always intriguing. Conversion rate. Because we can do these things just by learning how to do them and doing them and putting them out there. But if you want to increase your conversion rate, number one and two, I don't know if you can read them, but number one says written guarantee. So we have to know, what are the reasons people are going to be reluctant to work with us? Yeah. What are they thinking? What are the questions? You can call them objections, questions, apprehensions, whatever. So, Jesus, like in a marketing company, I'm worried I crawl in bed and work with Tim, and he's helping me generate more leads in my business and grow my business. Well, Tim, I guarantee that I'm going to get more money back from working with you than what I'm writing to you. The check I write to you every month, can you guarantee that for me? Whatever. But people want to feel secure that they're going to get ROI working with whoever to help them grow their business. Same with coaching, same with me, with my clients. So anyway, in a nutshell, do I have a written guarantee that I put in my marketing material? And I also bring up in a conversation in my sales process with my prospects so that they're not worried. Bob is a guarantee I'm going to get more money back than what I'm paying Bob. Yeah, let's try it. Okay, second one. Define our uniqueness. Tim, how many marketing companies do you think are in Highlands Ranch?

Tim Fitzpatrick
Oh, man, I don't even know.

Bob Liebhauser
Just in Highlands Ranch, though, right? A few?

Tim Fitzpatrick
Yeah.

Bob Liebhauser
Yeah. Okay. There's probably a lot of business coaches, too, and there's probably a whole lot of business consultants, et cetera, et cetera, right? So it is imperative that we have a message that we can share that says, this is what makes Tim different. This is what makes Bob different. Very important. We have to be unique.

Tim Fitzpatrick
Honestly, for those of you that are watching, listening, if you just grab this document from the show notes for this episode, that is worth the time you spent listening to this. There's a ton of value in this sheet. And this last page that Bob was talking about. Just has a laundry list. If you're struggling for ideas of what you can do, in each one of these five areas where you can increase profits in your business, there is a laundry list to just help get your creative juices going. So there's a ton of value in this, Bob, and I appreciate you sharing it.

Bob Liebhauser
No problem.

Conclusion: The Only 5 Ways To Increase Business Profits

Tim Fitzpatrick
This has been fantastic. Bob, any last minute thoughts you want to leave us with today on this?

Bob Liebhauser
Sure. So it's really simple and easy to start a business. Cost you maybe $50, unless there's a sale going on with the state of Colorado sale to get an ein number.

Tim Fitzpatrick
Right.

Bob Liebhauser
So it's dangerous because becoming a business owner has a very low entry point. Very simple, but yet it'll be the biggest bite or challenge you'll ever probably take in general in your life with where you are, when you start and what you want to build and what your success is in your business. And so the failure rate is because of the low entry point. The failure rate is unbelievable. We've all heard statistics. One of the common ones is the 4% rule. 4% rule means that of all the businesses that sign up today in the state of Colorado, in the first five years, 80% of those are going to be gone, which leaves 20% in the second five years. 80% of that 20% will disappear in the second five years. And when you do that complicated math, it comes up to 4%. So after ten years, 4% of these guys might make it ten years. Right. So the failure rate is huge. And the cost, the mental cost, the cost of the family, everything costs time and money, but you have a family, everything. But it's important to be successful when you sign up, and the only way to do that is to grow quickly and surround yourself with people that can help you on this journey. Because it's one of those journeys. It's like raising kids. If you don't know anything about raising kids and say you don't have a significant other to help you, it's you. Good luck. Right. So we have to surround ourselves with people like yourself, with marketing. We know how important marketing is. Most of us don't love marketing. We didn't graduate. We don't have a marketing degree. You have to surround yourself with the right people who are going to help you on the journey to be successful, because there's no way you're going to do it on your own. I've never met a business owner that said, I've done this totally on my own. Nobody's helped me. No mentoring, no nothing. Look what I've done. Never happens.

Tim Fitzpatrick
Yeah, most definitely. Where can people learn more about you, Bob?

Bob Liebhauser
Well, to start off with, you have my website, so my contact information is in there. Of course. I'm the only Liebhauser in Colorado, and I didn't research that, but I'm pretty self assured that I'm the only one. Okay. Except for my wife. I don't have any sons.

Tim Fitzpatrick
Yeah. Okay. So your website is at BobLiebhauser.Actioncoach.com. And Liebhauser is L-I-E-B-H-A-U-S-E-R. So BobLiebhauser.Actioncoach.com. Bob obviously knows what the heck he's talking about. He just walked us through these five ways to increase business profits. I hope you found this super helpful, Bob. I really appreciate you taking the time today to break this down for us. And obviously, if anybody's interested in learning more about what you do, they can head on over to your website. Do you do an initial consultation or how does that work?

Bob Liebhauser
We have a conversation on the phone.

Tim Fitzpatrick
Cool. So you heard it. Go to Bob's website, reach out, have a conversation with him. If you need help with this. He's been in business for 18 years. You made it past. You're in the 4%, right?

Bob Liebhauser
I'm a sticker.

Tim Fitzpatrick
So there you go. So Bob's obviously doing something right. I really appreciate you taking the time today, Bob. For those of you that are watching, listening, I appreciate you. If you are stuck in your marketing and you are just not sure what to do next, what you need to do to accelerate your revenue growth, you can always hop on over to our website at rialtomarketing.com. That's R-I-A-L-T-O Marketing.com. Just book a free GPS call with me. We'll review your goals, plans, strategies, and help guide you in the best direction you should take right now to get from where you are to where you want to be. The other thing I want to offer you is over at growthmarketingplan.com. We use a 90-day marketing plan template. You got to have a plan if you want to get to where you want to go. At growthmarketingplan.com, you can get all the downloads, the templates, the instructions on our 90 day marketing plan, so you can put a plan in place and start getting results today. So thank you so much. Till next time. Take care.

Bob Liebhauser
Thanks. Thanks, Tim.