One of my pet hates is hearing business owners and managers complaining there is not enough time or business to go around, when in fact by taking a step back and thinking carefully about both of these issues there is plenty of both.
So rather than sit back and view both issues from a negative standpoint here are a couple of hacks. You may find that you have heard of both before, and you probably have. Just hearing about them is one thing, actually doing one or both by taking action is something you probably have not done, really – if you have not tried at least one of these ‘hacks’ – I mean really tried, you are missing out.
Increasing sales easily.
1. Work on what you can upsize/upsell, this could be simple things like a buy one get another at 1/3rd off (don’t need one then how about bringing a friend along each of you get ⅙th discount) of course two sales with less profit does improve cashflow dramitically, not so much for profits but at least you can fuel the company car with the cash!
2.Upsell express delivery at extra cost.
3.Add in options like 10 year or lifetime guarantee, transferable to new owner if you sell it, put in place an annual inspection service at a low amount per month, create an ongoing servicing plan.
4. Actively seek introductions to your buyers friends and family but not in an ‘in your face way’.
5. Call previous purchasers to add on sales – of point 3.
6. Find creative uses for whatever you sell. I have just completed some work for a outside teating firm that is now installing on patio’s in Nursing Home and a Hospital. Both were easy sales – making outside space useable for longer.
Any one of these will create an increase in income without beating your sales team over the head, importantly you must review your sales team in light of the new regime we are living in now. Not sure what that is you had better get in touch – Sales Symmetry is now here.
Since the 1970’s we have been bombarded with tools and hacks to save time or make time, and none have really taken off that widely or work effectively. Psychologically all we want to do is be in charge of our lives and for some reason all of the time management tools seem to provide more and more rigidity, and less human flexibility. The system becomes the main thing and humans just can’t work like that.
With that in mind here are my quick hacks, if you like a couple of practical main steps to come back to when considering time management. Everything you focus on during your working day must do one of the things outlined below and remember your day should be broken into three clear shifts. 8 hours sleeping, 8 hours working and 8 relaxing. People that seem to get a lot done don’t work hard.
Breaking your day into these clear areas gives structure and clarity to what you should really be doing.
Spend time to avoid being bitten on the bum – examples tax returns, collecting overdue invoices, getting rid of/managing poor performing staff or service providers.
Time spent to Increase profitability by increasing sales or prices is time well spent, time spent reducing costs or improving processes is time well spent only not as financially rewarding as increasing sales. Remember you can only decrease costs by a finite amount, but increasing sales is limitless. Don’t forget point 1.
Keep a ‘will do list’. Everything on this list should be pointing you towards your longer term business plans. An example of this longer term plan is to secure 5 new £50k contracts first quarter 2014, on today’s will do list – delegate/outsource the research and find 50 prospects that fit the model of your ideal customer for x or y.
Meanwhile if you would like some proper help from a ‘real world’ life and business hacker, get in touch or you can get my email updates from sending me your details using the form below.
Song lyric of the week.
Eat, sleep, rave and repeat – Fat Boy Slim and Beardyman.
Quote of the week.
“I thought it was called a Luigi Board” – James Argent The Only Way Is Essex.
Thank you for getting this far. I hope this article helped.
I work with small firms, micro businesses and start ups. Those firms that are stuck don't know what to do next.
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