How To Grow Your Small Business Like You Have Extremely Deep Corporate Pockets!
Of course, you and I, along with everyone else, definitely wants to know, how to grow your small business and or service, as if you already have, extremely deep corporate pockets, correct?
For sure. But while on the subject anyway.
And while it may seem like mission totally impossible.
Rest assured.It most certainly is not.
Unless of course, you are semi cash strapped to begin with, and for whatever reasons, you decide to do things the hard way.
If so, hold on extremely tight, for as long as you possibly can.Because you’re definitely end for an extremely rocky ride. And when it’s all said and done.
One of two, (all too) common outcomes, will surely await you.Either you’ll be dead dog broke. And or, you’ll definitely be on your way.
But the extremely good news is, it definitely doesn’t have to be that way.As you’re about to discover.
Effectively Growing Small Businesses Is A Whole Easier With Really Good Marketing Strategies And Or Tactics!
Case in point. Watch how many potential, mini profit centers, can not only be initially created and nurtured, with this rather watered down example.
But also, how many untapped, potentially profitable ways, various types of cash flows might just as well be created, by potentially all the players involved.
So let’s properly set the stage.Then have a much closer look.Let’s suppose your single location, retail jewelry outlet store.
Has previously formed, a strategic alliance type of partnership, with both a local upscale hair and nail salon owner.
First, let’s take a look at some hypothetical numbers for the hair salon, and then just multiply the numbers by two. And attribute them to both businesses, in the interest of time. Okay?
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Case in point. First let’s have a look, at the hypothetical numbers, for both service providers.
Let’s say the upscale hair salon owner, currently has a total of six extremely active chairs, counting hers. And each stylist, (on average), services about 12 clients, (local women) per day.
And since the shop is open six days a week. M-Saturday. Basically 9 am – 7:30 pm.
And there are six women, each serving, about 12 local clients per day.It basically works out to, 72 women, per every six day work week. Correct? ( 6 hair stylists x 12 clients per day = 72 total clients per day.
And since the shop is open six days a week. (With the exception of the major holidays of course.)This means, (on average), about 432 local women, get their hair styled, during every six day week period.Right? (72 x 6 = 432)
(Extremely important note: Of course from time to time, each stylist will unexpectedly call out or have to leave early. And some of their extremely loyal customers, will have to miss their scheduled appointments. Or the salon owner will have to close early, due to unforeseen circumstances etc.)
If You Haven’t Figured It Out Already You Definitely Have More Than Enough Exposure To Some Creative Ways To Increase Retail Sales Volume!
And going further.Since the shop is typically open, fifty out of the fifty two weeks per year. Basically they shut down, a minimum of about two weeks out of the year.
This means, 432 local women, over a 50 week year, equals a staggering 21,600 local billboards, for both the hair and nail salon owners, correct? ( 432 x 50 weeks = 21,600 locals.)
Let’s say, since you were extremely marketing savvy enough,to provide both the hair salon owner(s), and the other five stylist, with one, $1,500 dollar, diamond studded necklace each.Say what?
Which in reality, only cost you $600 -$700 dollars. And you also allowed them, to purchase one pair of stunning, $400 dollar, diamond studded earrings as well.
Which only cost you $150 dollars a pair. Provided, they all joined your VIP opt in email/mobile marketing list, and remained active subscribers.(Meaning they didn’t unsubscribe.)
Are You Still Confused As To How To Maximize Sales In Retail?
Now let’s say, every time one of these stylists customers,( or another) acquaintance of theirs asks where they got their fabulous looking bling.
And they simply hand them, one of your best market tested, extremely time sensitive, first time only customer discount coupons.(And or special made, two sided index cards.)
And let’s say, out of the 21,600 total customers, a mere 30% of them. Or to be more exact, 6,480 of them, actually took advantage of your generosity. (21,600 x .30% = 6,480 customers.)
And not only did they save 25 (or X%) off their very first purchase.
But because, 40% of the 6,480 first time customers. This isn’t too complicated, right? 2,592 of them, drug a guest with them, whose was at least 18.
And for doing so, they were able to save up to 50%, off any one piece of jewelry, up to $1,500 dollars. (6,480 x .40% = 2,592.)
Who Says A Non Traditional Business Expansion Strategy Isn’t Practical?
And remember, since each one of those six stylist, (actually) make it twelve, since you’re implementing these particular marketing strategies, with both the hair and nail salon owners.
While each stylist may not be married, and may not have any kids. Guess what they do all have in common? They all have a birthday, do they not?
Which is why, you will definitely be going out of your way, to ethically bribe them.
So they continually help spread the word, both on and off of social media. For starters, since your ideal female customer, which falls between the age ranges of 21-55.
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And they currently have a total lifetime customer value metric, of somewhere in the neighborhood of $6,500-$11,000 dollars.
Over the next five to seven years. You can easily afford, to allow each stylist, to personally pick out, their very own, seven foot teddy bear of their choice.
This way, when they brag to whomever, and continually show them off, they’ll be the best goodwill ambassadors they can be. Don’t you agree? In part, let’s delve much deeper.
For now, hopefully you can better appreciate, how to grow your small business, as if you have extremely deep corporate pockets, is not as difficult, as it might initially appear.Don’t you agree? See you in just a little bit in part two.
P.S.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!
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