Boosting Business Profits: The Pathway to Success (w/ Marcia Riner)

On episode #178 of The Author Factor Podcast  I am having a conversation with business growth strategist and author, Marcia Riner.

Marcia is the CEO of Infinite Profits Consulting and is a strategic growth consultant for business owners looking to increase their revenue, take home more profit, and grow the value of their business.

She has published 3 books including her new book, Boosting Business Profit - The Pathway To A Highly Profitable Business.

Learn more about Marcia by visiting InfiniteProfitConsulting.com.

For more information about Mike Capuzzi, visit MikeCapuzzi.com.

Transcript

Mike Capuzzi [00:00:00]:

Welcome to another profitable episode of The Author Factor Podcast. I'm Mike Capuzzi, and I want to thank you for joining us. My guest today is Marcia Reiner. Marcia is the CEO of Infinite Profit Consulting. She's a certified financial planner and business growth strategist for business owners looking to increase the revenue, take home more profit, and grow the value of their business. She has published three books, including her new book, boosting business profit the pathway to a Highly Profitable business. Marcia, welcome to the Author factor podcast.

Marcia Riner [00:00:33]:

All right. Thanks, Mike. I appreciate you having me on. This is great.

Mike Capuzzi [00:00:37]:

Is this your first podcast guest opportunity since you've been back home? Because I know you and I were just talking. You were just on an amazing five-week vacation.

Marcia Riner [00:00:46]:

Well, it wasn't a vacation yet, actually. No, this is the second podcast. I recorded a brief one last week, which was yeah, that was interesting. That was out of a gentleman out of India that I recorded with. It was a lot of fun. But, yeah, I just went and trying to expand my work life balance and spent five weeks in playa de Carmen, Mexico, trying to work a little bit and trying to enjoy and expand life a little bit. Figure we all work from well, most of us work from home, so why not work from a really cool location?

 Mike Capuzzi [00:01:22]:

That is awesome. And you were saying you brought your dog. I mean, that's very cool. Welcome back. Welcome back. Thank you home. So, Marcia, I just barely touched on your background. So why don't you tell our listeners a bit more about your business, who you serve, how you serve them, and then I also let's start with that. And then I want to jump into why you decide to now write three books, but let's first focus on who you serve and how you serve them.

 Marcia Riner [00:01:48]:

 Cool. So business owners come to me to looking to grow their profits. I exaggerate, not even exaggerate, but I put it out there that I could double or triple their profit without them having to spend extra money on marketing or advertising. And I've got this fantastic tool that we use that really exponentially shows how little incremental changes to one's business in the really important areas that are often overlooked, can boost profits and really grow the profits. So I work with any business that is past the first cash register ring. So if you're just starting out, that's probably not my jam. But if you've got a business, you've been in business a couple of years, you're growing, you're hitting your movements, but you're finding that it's harder than you thought. And so maybe in the range of a couple of hundred thousand in revenue, up to maybe 8 million in revenue, is really my sweet spot products, light manufacturing, professional services, a full range of customers or clients that do work with me. And what we do is we really implement tactical and strategic changes to their company, so their life becomes easier, and we all got into the business right. To have this fantastic life until we get in and realize, oh, my God, I'm working for the worst boss at the worst company with the worst employee. Right. Me. And it's close to minimum wage. It's nothing at what I thought it was when I left corporate America or decided to go out on my own. So I helped those business owners really shift into what a profitable business, running a profitable business looks like, and then we put some exponential numbers on it.

Mike Capuzzi [00:03:50]:

Very good. And you said it's either business to consumer or business to business.

Marcia Riner [00:03:55]:

 Yeah, any business. Exactly. They just have to have some momentum already. Right. And the strategies that I talk about in my book literally work for any business.

 Mike Capuzzi [00:04:08]:

 It's interesting you say that, because we want to talk about this now in your new book, right? Boosting business profit. Right. So it is interesting. I've been doing this for over 20 years, and it's always amazing, Marcia, how you can go back and there's just some fundamental things. Yes, you could do lots of things. There's lots of opportunities to spend money, invest in money, invest in doing, you know, different things. But you're right, and I want to talk about this with your book. I do believe there's those fundamental things that if you just tweak them, implement them, revisit them, whatever it is, they can make huge changes. So before I steal your thunder, congratulations on the new book, because it is fairly new, correct?

Marcia Riner [00:04:48]:

Yeah. Just came out on Amazon, so really excited about that. Every time. It's a labor of love, so every time you hit the Go button, it's like, I did it, I did it right. And it's like this big elephant that jumps off your back.

 Mike Capuzzi [00:05:06]:

So this is your third self-published book. So congratulations.

Marcia Riner [00:05:09]:

Yeah, thank you.

Mike Capuzzi [00:05:10]:

 Tell our listeners a little bit more about the book. Why you decide to write this third book and what our listeners would get by reading your book. Marcia sure.

Marcia Riner [00:05:22]:

 So my first book was a variation. I thought it was really funny. I had the coin on income minus profit equals or income minus expenses equals profit. So I wrote the book. The Big Profit Secrets Exposed was, on that topic, five strategies here, five strategies there, and a little bit of putting it all together. That was my hack at book writing. Then my second book was really about more of the strategies and the things that you need to do. And so what I found really interesting in my book writing is that I go to prospective clients, and I interview them about the strategies in my book, and I get their feedback as to what does it work for them, would it work for them, how would that impact their business? And that's what led me to my third book of redesigning and putting these pathways an organized order of what you need to focus on, because many business owners out there, they're wearing a dozen different hats, they're chasing shiny objects, they're going after squirrels. Right? The latest, greatest social god, AI right, everybody is now having to be an incoming AI expert. And it's mike, those are great, but those should be the 20% of the 80 20 rule. And if we can flip it back around and get business owners to focus 80% on what truly drives profit, then their business gets easier, and that needle moves faster, and they start to have the business that they really wanted when they started.

Mike Capuzzi [00:07:07]:

And that's not just marketing hype right. And that's my point with this. It's so oftentimes the fundamental things, which aren't the big sexy things like AI no. Right. But if they're missing, you're leaving money on the table if they're not implemented.

Marcia Riner [00:07:28]:

And it's a lot harder, right? It's a lot harder to make your nut each month, start from scratch and so on. Now, I'm not telling you you shouldn't market, because absolutely you should be marketing your business or you're going to die. So once you're marketing, it's our marketing, it's where we're sending them to. It's the language that you're using when you talk to your clients. So my pathway to profit, really, once you get past the people in the process, or the third function of that is really looking at how do you generate really good leads, really good leads, people that are already ready to raise their hand. And if we go back to that hierarchy of needs, do they know they have a problem? Do they have a problem? Where are they in that phase? But how do you convert them better? What is the messaging and attractive nature you're using? So, again, these are very foundational pieces, and that's just one of the strategies, is getting that lead to really see exactly what you offer. And we call that a position of market dominance in the way that you communicate that with your audience that you're talking to, and it gets them to go, oh, yeah, you do know that I have this problem. And yes, you do know how to solve it. And you're going to make it easier for me, and you're going to help me get to that with a step-by-step method. I'm down. Because most buyers are looking for more information. There's only that 3% to 5% at the top of that buyer's pyramid that are ready to throw the credit card at you right now. The rest are looking for information to validate. Is there a problem? How do I solve the problem? Who's the right person to solve it? What it's going to take to solve it? They're looking for information, and if you can provide that for them, then they're more apt to choose you over somebody else. So that's a big piece of the starting point. That I talk about in my book.

Mike Capuzzi [00:09:42]:

So I'd like you to share, if you can, just to give a little teaser and a taste of the book. I mean, you've already described a bit what a reader could glean by reading your book, but is the something, Marcia, that you could share with our listeners just like one actionable tip that maybe most people have forgotten about. You've covered in your book, but just a high-level overview just to encourage readers to grab a copy of the book so they can learn more.

Marcia Riner [00:10:10]:

I love it. Okay, so I'll use something really fun here. So do you want fries with that? Have you ever heard that before?

Mike Capuzzi [00:10:18]:

Thankfully not in a while, but yes, true.

Marcia Riner [00:10:22]:

 So one of the strategies is how to get more average price sales, right? The amount of money that your customer spends each time they spend with you. And one of those is offering an upsell, right? All the fast-food agencies do it. It's very common. Do you want fries with that? And one of the strategies that I talk to inside my book is how to create that for your own business. How do you get someone to logically think, what else do they need that would perfectly align, make it easier to purchase, complete the purchase for the original item that you're selling item, and I use that loosely, that could be a product or a service. So there are ways to stack that and ask your customers, do you want fries with that?

Mike Capuzzi [00:11:20]:

 I love it. First of all, because the succinct way you put it, we can all resonate with that. So it's very smart. It is. It's just one of those little profit boosters that with a little bit of thought, just about any, if not all business owners, professional service providers, whatever, can figure something out.

 Marcia Riner [00:11:41]:

Yes, little incremental changes, little itty-bitty changes that can actually move the needle on your company, on the growth and on the profit by making little changes. That's it. We're not talking market domination where you've got to instantly become Amazon. We're talking about what little changes can you do in your business that can grow the profit, drive your growth, and eventually even have a business that is worth selling sometime in the future.

Mike Capuzzi [00:12:13]:

Great advice. I love it.

 Marcia Riner [00:12:15]:

 Thank you.

Mike Capuzzi [00:12:15]:

Let's segue now to Marcia, the author, and how you use books in your business, because again, this is your third book. My guess is it's probably not your last one. But Marcia, tell me a little bit about how do you use your books. Where do they fit in? Is it legion? Is it part of the follow up sequence? Is it all the above? What's the best way you're using your books right now?

 Marcia Riner [00:12:42]:

 Well, I use them kind of first of all, we all have knowledge, right? We all have this kind of expert skill set or power that superpower that we have in our business. What better way to promote and elevate your superpower status than to write a book? And yeah, I know people are like, oh my God, I'm looking at a blank cursor and I don't know where to start. For me, it was just super easy. I wrote down some chapter titles and then put a little time each week into writing that chapter. So it's not hard. And there are many other tips you can do to write a book easily, like record it on your phone and translate it with otter. There are all sorts of things, but back to I digress. So back to what I use my book for is really, truly to elevate my expert status. I'm a business consultant. When I go out to a prospective buyer and I start to introduce myself, I know they're immediately going to troll me on social. So they're going to look, where is this person? What is she talking about? Is she legit? Right? And with all of my social postings that I'm always talking about increasing profit, driving growth, and preparing your business to sell, and these books show up on Amazon, and I myself have a podcast. And so all these layered things make me legitimate. And so it's just a tool that someone can go, oh, not that they're ever really going to read my book, but if they did, they'd start to see that I am an expert and I do know what I'm talking about, and therefore I can help you solve your problem. So that's the sole purpose I wrote it for. And there's nothing icky about giving away your best ideas. The probability of them being able to implement them on their own is slim. So let me give you all my best ideas. You all excited and then you come back and go, marcia, I need help doing this. Okay, let's talk.

Mike Capuzzi [00:15:14]:

Yeah, I mean, I always look, Mike, especially the kind of books we publish, which are these shorter books, they're conversation starters, just like you and I having a conversation now. It's just another opportunity to get in front of an ideal prospect where they can get to know more about you, learn more about you. So, yeah, the strategies that you're talking about, the ones that I talk about, it's not about writing the book on building a business. It's a very specific thing with very specific reasons why.

Marcia Riner [00:15:46]:

And oftentimes you can have a series of books because if you try and pull your 30 years of experience and write it into one book, it's going to be overwhelmed.

 Mike Capuzzi [00:15:54]:

 Absolutely.

Marcia Riner [00:15:54]:

But if you put an idea into a book and build it out, make the short and easy to read, people are going to consume them too.

Mike Capuzzi [00:16:03]:

Absolutely. Yeah. What about any mistakes or misconceptions that you've encountered on your author journey, Marcia, that you'd want to warn someone else about?

 Marcia Riner [00:16:15]:

 There's probably a long list there. The first one is it's not as hard as you think it is, right? I mean, I have a whiteboard on my wall next to me, and when I go to write a book, I put the title and the concept and the single idea I want to write about single idea. Then I start going, okay, what chapters could I write? Right? And then I put it up there and make it really simple. So it's a bite sized struggle. If you sit down and look at a blank screen and think you're going to write this novel kind of thing, you'll never get it done. So I think that's the easiest path to do it. But the biggest mistake I think I did in my first book, there are tons of typos and errors and have someone else read it for you before you hit go. Make sure it makes sense and it flows and it's your voice. So just talk, right? Talk and type at the same time so people get to really connect with you. But I think that's probably the biggest one is have someone else. It doesn't need to be a professional editor. It could be a friend. It could be a couple of friends that just read through it with a red pen and go, I don't know what you're trying to say here.

Mike Capuzzi [00:17:40]:

Yeah, it's crazy. I always say one of my famous sayings is, first of all, there's no such thing as a perfect book. At the other end of the spectrum is you'll never literally I just updated in the last couple of weeks a book I first published in 2018. It's been through editors, copy editors. Now I am adding some new content, but I'm still finding mistakes. So there's no such thing as a perfect book. However, you can find good copy editors just at minimum, go through it like you're saying because you don't want to look.

 Marcia Riner [00:18:08]:

So, yes, that's the biggest mistake I didn't have, and it's an easy fix.

 Mike Capuzzi [00:18:13]:

 So thank you.

 Marcia Riner [00:18:15]:

Yes.

 Mike Capuzzi [00:18:15]:

 So, Marcia, as we get ready to wrap up here again, I love talking to someone who talks like you do about your business ideas and strategies. So I love that. I also love the fact that you're a multi book author. So I'd love to hear from your own voice what it has meant to you, the impact on you, your business, obviously, on your clients and the people that you're impacting. What does it mean to be a book author?

Marcia Riner [00:18:42]:

I'll live forever. I'll live forever. My words will live forever. Whether they're good or not, they're still going to live forever somewhere out there. So that's a legacy piece. But I think I'm not a runner. Back in, I think, 2016 or something like that, 2015, a bunch of girlfriends decided to do this half marathon, and I'm like, oh, my God. It took me eight months to be able to run 10 miles. And that day I ran 13 miles. It was an achievement. So bucket list, relief, success, confidence, that everything that just stacks up. Saying that I did something, and I put some work out there that will last forever, I think was really the mover for it. The business accolades, credibility, all that kind of stuff. But business owners, a lot of us, like, I'll walk into a networking place, and I'll have one book with me, I'll flip it up, and it gives me a prop. I mean, there's a lot of different things we can do with it, but I think all of that kind of check, I did it.

Mike Capuzzi [00:20:04]:

 I think I've interviewed now probably we're getting close to 200 podcast interviews because I asked that question. I don't think I've heard anyone articulate it the way you have. I've heard a couple of people say legacy, but the fact that you said I will live forever, it's kind of crazy when you think about it, because it's true. As long as Amazon and all the other resellers are out there, it's out there. So very cool.

Marcia Riner [00:20:29]:

 My word will live forever. Yes. God, you could do so much with it, right? You could repurpose it and all that kind of stuff. But, I mean, I'm going to live forever.

 Mike Capuzzi [00:20:44]:

So, Marcia, how can our listeners learn more about you, your business? Where's the best place to get your books?

Marcia Riner [00:20:51]:

 Wow. Okay. So I am all over social media, so Marcia Reiner, R-I-N-E-R is probably the easiest way but go to my website. My website is Infinite Profit Consulting. I've got my books there. I've got my podcast feed there. I write a blog every Sunday there. Go register, sign up for a newsletter. Let me impart my wisdom on you so that way you can decide over time that I know what I'm talking about and what I say makes sense. And I'm always given value. I think that's the most robust place to go all in one. I'm always doing stuff. I've got videos and webinars and book launches and summits and all that kind of stuff. But I think Infiniteprofitconsulting.com is probably the best place to grab my books to read more about me.

 Mike Capuzzi [00:21:51]:

 Well, Marcia, thank you very much. I appreciate your time today, and welcome back home.

 Marcia Riner [00:21:55]:

Thank you so much, Mike. This was a lot of fun. And kudos to you for hitting 200 on the mark. Well, I'm there myself, and it's a long journey, but I think that what you're doing for us authors is giving us a platform to share our books and be more notable and recognizable and valuable to the communities that we bring. So. Thank you, Mike.