This time of year it seems that half the business world is incredibly busy whilst the other half is just waiting for the Christmas break to come along.
This checklist is aimed at the businesses that are slowing down over this period - it offers you a number of tasks that can improve your business.
If you are a business that is incredibly busy at this time of year then download a PDF/print out a copy and come back to this plan in January.
This is a “size 12 wellies” article. Lots of sweeping generalisations andtreading on some peoples’ sensitive toes. Here goes:
Take two hours with your best business partner, mentor or advisor and implement a plan similar to the following:-
1. Put up prices by, say, 10%.
This creates more profit (per sale) and if you lose any customers it will be the price-sensitive, disloyal ones that probably cause you more hassle than they are worth. You will be able to afford to lose them because you will probably make more money from the price increase than you will lose in leaving customers. (More profit).
2. Decrease direct costs by, say, 10%.
Go to all your suppliers and ask them for a better price… ask “Is that the best you can do?” and say nothing till they come up with a better price. This normally works. (More profit).
3. Sack underperforming suppliers, customers and staff as appropriate.
(Less wasted time). Only once you have improved your business model (see above) so that you are making a decent profit per sale, should you consider increasing sales.
4. Rethink the way you present your business.
Customers are not that interested in ‘what you do’ but they are interested in what ‘what you do’ can do for them. Make a commitment to start talking about what people get as a result of buying from you – what’s left after the purchase. Focus on the benefits that they gain from using your product or service. This will improve your sales performance massively (oops I just did it then!). (More sales).
5. Sort your proposition or offer.
Why should people buy from you if you are the same as the competition? What make you different from the rest? Be able to articulate the ‘why’ and ‘what’ of your business in a way that is truly effective. You should be able to do it in ten words or less. (More sales).
6. Get more leads, say, 10%.
Go networking, find out about Google Adwords, get up earlier, and talk to more people. (More sales).
7. Get better at talking to people, asking for the business and closing the sale.
Going on a decent sales course will add 10% to each of these fundamental steps in the sales funnel. These 10% improvements will create 46% more customers (!!!). (More customers).
8. Get customers to buy more, say, 3%. (More sales).
9. Get customers to buy more often, say, 3%. (More sales).
10. Stop them leaving
Run a customer survey right now – simply talking to all your existing and past customers will generate more business, I assure you. Most customers who leave do not leave because of rubbish products or service – most defectors are content but someone came along who wanted their business more than you appear to… (More customers).
11. Collect money quicker, 10 days quicker. (More cash).
12. Write cheques slower, 10 days slower. (More cash).
13. While you are at it, decide on three things you can do right now, and which cost nothing, that you can do to blow away your existing customers and make them talk about you. (More customer loyalty and free promotion).
2. Decrease direct costs by, say, 10%.
Go to all your suppliers and ask them for a better price… ask “Is that the best you can do?” and say nothing till they come up with a better price. This normally works. (More profit).
3. Sack underperforming suppliers, customers and staff as appropriate.
(Less wasted time). Only once you have improved your business model (see above) so that you are making a decent profit per sale, should you consider increasing sales.
4. Rethink the way you present your business.
Customers are not that interested in ‘what you do’ but they are interested in what ‘what you do’ can do for them. Make a commitment to start talking about what people get as a result of buying from you – what’s left after the purchase. Focus on the benefits that they gain from using your product or service. This will improve your sales performance massively (oops I just did it then!). (More sales).
5. Sort your proposition or offer.
Why should people buy from you if you are the same as the competition? What make you different from the rest? Be able to articulate the ‘why’ and ‘what’ of your business in a way that is truly effective. You should be able to do it in ten words or less. (More sales).
6. Get more leads, say, 10%.
Go networking, find out about Google Adwords, get up earlier, and talk to more people. (More sales).
7. Get better at talking to people, asking for the business and closing the sale.
Going on a decent sales course will add 10% to each of these fundamental steps in the sales funnel. These 10% improvements will create 46% more customers (!!!). (More customers).
8. Get customers to buy more, say, 3%. (More sales).
9. Get customers to buy more often, say, 3%. (More sales).
10. Stop them leaving
Run a customer survey right now – simply talking to all your existing and past customers will generate more business, I assure you. Most customers who leave do not leave because of rubbish products or service – most defectors are content but someone came along who wanted their business more than you appear to… (More customers).
11. Collect money quicker, 10 days quicker. (More cash).
12. Write cheques slower, 10 days slower. (More cash).
13. While you are at it, decide on three things you can do right now, and which cost nothing, that you can do to blow away your existing customers and make them talk about you. (More customer loyalty and free promotion).
Download The PDF
Don’t procrastinate please. Take some time out, make the tough decisions and get on with it. Take massive action now.
OK, so I lied about the ten things and really it is more like 14 if you include having the meeting where you make the decisions.
Like removing a sticking plaster from your skin you can make these decisions and take these actions slowly or quickly. Your choice. However, every day you waste in the no man’s land of indecisiveness adds to the gap between you and those have already made the tough decisions. Those that have done the tough thinking are seeing exponential change; every day in the new world builds on the changes made on the previous day.
Don’t procrastinate please. Take some time out, make the tough decisions and get on with it. Take massive action now.
OK, so I lied about the ten things and really it is more like 14 if you include having the meeting where you make the decisions.
Like removing a sticking plaster from your skin you can make these decisions and take these actions slowly or quickly. Your choice. However, every day you waste in the no man’s land of indecisiveness adds to the gap between you and those have already made the tough decisions. Those that have done the tough thinking are seeing exponential change; every day in the new world builds on the changes made on the previous day.
Every day you don’t make these decisions is a day nearer bankruptcy.
In reality, there may actually be a deeper, more subtle set of changes required of you.
It is one thing to recognise what needs to be done and it is great if you make the commitment to implementing the changes.
Hand over the details of the Christmas party to your PA/secretary/intern and take the big decisions and actions that will benefit your business throughout the next year.
Stop reading, there’s work to be done. Now!
Robert Craven
See the original article at
10 Ways To Improve Your Business Before Christmas
In reality, there may actually be a deeper, more subtle set of changes required of you.
It is one thing to recognise what needs to be done and it is great if you make the commitment to implementing the changes.
Hand over the details of the Christmas party to your PA/secretary/intern and take the big decisions and actions that will benefit your business throughout the next year.
Stop reading, there’s work to be done. Now!
Robert Craven
See the original article at
10 Ways To Improve Your Business Before Christmas
4 comments:
Great list of suggestions here; biggest issue is that many people do not take action or they start or do not follow up and keep doing it. I am just wondering what would happen if everybody applied this principles :-(
Cheers MG
The issue is so often about ACTION!!!
It would be remarkable if people actually did more of these things.
RC
All I have to say is Hashtags and Merry Xmas and Happy New Year to one and all
As early as March, I already start surfing the web for tips on how to earn some extra cash before Christmas. I know it seems a little early, but I believe that the early bird catches the worm. Christmas is the loveliest time of the year, and I like to think of myself as a giver. I love giving gifts to the people that I care about and since giving involves cash, I have to start thinking about where the money is going to come from very early in the year. You were right, Robert, when you mentioned that customers are not interested in what you actually do, but in what you can do for them. These tips can really help me and a lot of people in planning a good business and profit strategy before Santa comes to town!
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