ohparsons.com

Entrepreneurial dreams and start a business for several reasons. Some hate the works they are, while others hate the politics of a large workplace. But most agree that the appeal of freedom and flexibility were tremendous motivators.
Whatever the reason behind their decision, a policy is more important than all the others want to make money and support their families. While it is easy to get distracted by chasing customers, top line revenue growth and expansion of local business simple fundamentals – earnings and cash flow – or the dream of an entrepreneur can finally take it or turn into a nightmare to be determined.
It ‘s almost impossible to measure the health and financial success of a company looking to provide the number of employees, the look / feel of the website, the size of the office or the synthesis of the owner. Most of us might think that the only way to really know is to get a copy of the accounts and read. Although this is a great idea and the pursuit of value, there is another easy way to narrow down your choices. You can only choose to start or buy one of the top 10 most profitable companies – that is, a society that is statistically more likely to be financially successful.
Sounds easy, right? But what [exactly] you will find the companies on the list?
It is not known to the market, but in reality there are certain industry classifications, a track record of high profit margins and solid cash flow. There are certain characteristics and financial statistics to select companies that exponentially increase their profitability. So much so, that these particular firms are 5 to 10 times more likely to survive and prosper.
1. Consultants, experts and speakers
This sector includes management consultants, authors, coaches, therapists, psychologists, writers and speakers paid. On average, they have high rates for now, do not involve debt or inventory and have a very low fixed cost. The number of professionals in this field is growing rapidly every year and are constantly generating net profit margins of 25-35%. Not bad for a company that is supported by the expertise of one person – the vast majority of these companies employ less than 3 people.
2. Accounting and Financial Services
accounting, payroll, tax, consulting and accounting software, consulting, finance / investment, etc. – - Even though the industry may seem boring, these doctors are more interesting when they are on their portfolios. These companies tend to be the longest client relationships (as many people a huge risk inherent in switching to a new supplier of observation), and then the lowest dropout rate and the lowest cost to acquire and retain customers . They enjoy the profits of approximately 23-26%, have enormous power prices and their services are seen as must-have, not discretionary spending. In general terms, but also aim to reduce operating costs per customer and a percentage of sales.
3. Legal specialists
Despite their reputation for sharks and bottom feeders, the lawyers are making good profits and cash flow (on average 20-24% of net). Their success factors reflect those of their colleagues in accounting and financial services. The majority of clients are achieved through word of mouth and referrals (to reduce marketing costs) and tend to stay with their adviser in the long run if there is a perceived risk / cost to switch lawyers. Lawyers are great at generating more business and sell goods. Some of the most profitable areas include DUI defense, criminal law, tax and estate planning and divorce law.
4. Doctors – general and
Dentists have three important operational advantages – they are often able to treat more patients at the same time, enjoy a high average dollar transactions (most of which are not covered by health plans) and operating costs are relatively low (divide by the total number of patients maintained). annual maintenance (cleaning and x-rays), high margins and the contribution of dentists do a great job of convincing us that we need them regularly. On average they spend more on health care than any other follow-up and re-bookings. Fortunately, the cost of direct marketing is much less than the cost of acquiring new patients and produces yields of 18-22% in practice.
5. Designers
No matter what you specialize in – the structures, decoration, your brand, high-end clothing and accessories – these professionals have a talent for bringing in money – in fact around 16-19% on the bottom line each year. These doctors greatly from high-end prices and relatively low variable operating costs and product margins. Their main activities are their customers and their time. The biggest risk for those not as successful in this field productivity – or do not understand the time required for a job or not, market prices for their time to complete.
6. Doctors and specialists of veterinary medicine
It pays to specialize. The medical profession is relatively recession-proof. No matter what, people and pets tend to the sick and often choose to forego seeking care and treatment. Surprisingly, the increase is much discretionary services, such as plastic surgery, Lasik eye surgery, lap band specialists, infertility treatment and its restoration. These specialists are often able to be outside of what is underneath the hotel, with health care public and private (profit gain of around 14-16%), and you deserve so much more than their counterparts in medicine General.
7. Specialized health and alternative medicine
As with traditional medicine, it pays to specialize. Mental health, podiatry, chiropractic, naturopathy, acupuncture, physiotherapy, etc. enjoy the profit of 13-15% due to higher average dollar transactions, repeat visits, cost of goods sold and operating margins reduced.
8. Elderly and Pensions
Since the general population continues to age, there is increasing pressure on young families from both sides – the need for childcare to manage a career and the need to manage transition of elderly parents who live in assisted care or full-time. Consequently, the employment, retirement villages, etc. in elderly growing and more profitable. The bathrooms, in particular, can earn 12-14% before tax.
9. Insurance intermediaries and mortgage
These companies often have very little costs to start and manage their money through two different streams – payment in advance, must gain the agreement and to ensure the current annual trailer (which often grow in 80% of their total income). Even though recent changes in many jurisdictions have reduced or delayed, the first payments from banks and other institutions, the steady stream of passive revenue streams make this profitable businesses 11-14% on average. The perceived discomfort of switching is high, so most customers to retain for longer periods and to promote and regularly receive referrals.
10. Online business, small down payment and credit
The Internet has made it possible for anyone to open a shop and the goods or services online with little or no experience and low overhead to sell. While many eBusinesses dud, those who make money by taking on a large scale. The most profitable (sale of services and continuity of membership programs) earn more than $ .20 to .30 cents per year in net profit, but the examples are few and far between. On average, the products and / or services to sell 11-14% should be consumed on the baseline with no credit, low stocks and a small investment in fixed assets. specialized credit unions and private lenders are also enjoying the profit margins of about 10-13% because of low overhead and a growing distrust among consumers with conventional banks.
From this list, we can draw some important conclusions. first professional services is a winner. The above list, 8 of 10 cases in the category of professional services. The key drivers of profitability is constant demand for services (economic, despite the ups and downs), low costs, high contribution margins and repeat business. In addition to law, medicine specialist, dentistry and accounting, many of these occupations also enjoy relatively low barriers to entry.
More often than not, it pays to specialize. Companies in niche areas are often capable of high prices, the command of great value that have higher margins and sales and generate repeat and referral business. This lesson could easily be extrapolated to the industries traditionally difficult or low profit. Take for example the catering business or general information such as welding or electrical services. Becoming highly specialized, these companies can directly influence the success and profitability of their business.
And finally, Size Matters for sure. In the field of small and medium scale industries in most of the calcium of about $ 1 million of turnover in the United States – and this is especially pronounced in that an initial investment in specialized assets, such as medical equipment, equipment production and the necessary technology.