Three Profitable Reasons Cash Strapped Small Business Owners Definitely Need Proven Systems!Part Two
So have you ever (really) tried to balance any type of ball on your nose, (like those) highly skilled seals do, all while you’re trying to drive your car, (extremely fast) in reverse!(Say what?)
That would be a tall order indeed,correct? But ladies & gentlemen, when you’re attempting to run a successful (on or) offline business of any kind, and you’re not consistently implementing,any type of proven processes!
Or you don’t currently have any market tested systems in place, the all too common, overall net affect is, your small business and or service, will typically not maximize and or realize, anywhere near it’s full income earning capability.
Thus you tend to have to , (not only) continuously work a whole lot harder, but work longer as well!So why not make it easy on yourself, by utilizing, more of, the following three (mega) proven systems, and or processes!
Who Else Wants To Discover At Least Three More Potentially Profitable Reasons Your Small Business And Or Service Will Definitely Benefit From Having Proven Systems And Or Processes In Place!
Ladies & gentlemen, as you recall from part one, another potentially profitable reasons, for having proven systems and or processes in place, has to do with how you, (and or) your major competitors, maximize the long term profit potential, inherent in aggressively marketing to your existing customers, and or clients.
Case in point, let’s run some (hypothetical) numbers out just a bit. So hopefully, it will start to crystallize your thinking going forward.
And both you and your employees, co-owners, and or associates will see the potential long term residual value,associated with each newly acquired customer,patient and or client etc.
So let’s say your business, which happens to be a service, currently averages about 150 customers per day!
And lets say, (strictly) for the sake of example, about 40% of them, (or) 60 people per day, (six days week) are brand new first time customers!(150 x .40% = 60 brand new first time customers per day.)
(Important note: The exact numbers are totally irrelevant!It’s the overall marketing concept you must grasp, in order to benefit from this hypothetical example!)
Your Small Business Marketing Ideas Can And Should Be A Springboard To Even Greater Long Term Profits!
In order to (hopefully) spark your long term, creative marketing juices, (please) consider these hypothetical numbers! Since sixty brand new first time customers a day, (on average) physically visit your optometry office, six days a week.
And because there’s 52 weeks in a year, on average,before you even consider, any powerful, bank account filling referral generating strategies!Your service will accommodate a grand total of 3,120 brand new first time customers a year!( 60 per week x 52 weeks a year = 3,120.)
And in just five short years, without much changing, this equates to 15,600 brand new first time customers!Primarily because, you’re currently located in an extremely popular mall!Now granted,even though your monthly office lease, definitely isn’t cheap! It’s still well worth it!
If Lead Generation Really Isn’t A Issue Focus More On Improving Sales Funnel Portion Of Your Business!
Now then, let’s say your average, brand new first time customer spends about $250 dollars with you. And let’s say about 20% of them upsell, and spend an additional $75 dollars more.Here’s your new weekly gross calculation, on brand new first time customers profit margins.
About seventy two of them per week, which of course is (20% of 360) new customers a week. (60 per day x six days a week = 360 brand new first time customers per week! And 20% of that figure, equals 72 customers a week.)(360 x .20% = 72.) Those seventy two (brand new customers), are “ethically bribed” to spend an additional $75 dollars more, or X!
(Are the vast majority still with us!Because whenever you wade too deeply into the mathematics of business, often a certain percentage, can no longer see the forest, for the trees! 😀 )
So $75 dollars (times) 72 brand new customers a week, equals an additional $5,400 dollars per week!Say what! Times that amount, times 52 weeks a year!And your optometry office just grossed, an additional $280,800 dollars!Huh? (Nod your head cadets, because it’s true!)
Entrepreneur Stop Over Complicating Your Small Business Marketing Strategies!
That’s right! Hard to believe!Correct? An additional, (front end) gross profit of, two hundred and eighty thousand dollars a year in gross cash profits mind you! (Give or take!)Off a tiny $75 dollar up/add on sale strategy!Yep!
That unfortunately a staggering 80–90% of most, cash starved, small business owners, and or service providers, feels is too beneath them to consistently implement!
Hold on, because here’s the other part, you’ve got to stress to some of your (totally) clueless, hourly based employees and or associates!
Every time they take their sweet time answering your phones, or not responding fast enough to, (either) inquirer emails, and or return first time callers phone calls etc!
Creative Lead Generation Strategies Are A Whole Lot Easier To Implement When You’ve Got The Cash!(Right?)
That’s one less, brand new first time customer,patient and or client in the door! Who doesn’t and won’t positively refer your business, products and or services, to friends, family members, co-workers and or in laws etc!(On or off social media.)
And this also means, (on average), an additional 20% of them, or more, definitely will not be taking advantage of any of your best, market tested up/add on sale strategies!
And all because, you decided, your (severely) cash strapped small business, and or service, doesn’t need any type of proven, processes and or systems in place!
Entrepreneur, don’t you think it’s high time, you got out of your own way, and truly got with the program already!Me too!
Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,
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