Business and Money Tips

In the next 30 days, I want you to climb your own mountain (read here ).  In planning for sales for my own and my consulting clients’ businesses, I typically use the “ 5-Way Sales Leverage Chart ”. (The figures here refer to annualized figures, i.e. for one year) Target Market X Marketing Conversion = NO. OF PROSPECTS X Selling Conversion = NO. OF CUSTOMERS X No. of Transactions X Average Dollar Sale Price = SALES So from here that you can see there are only 3 things that you work in your sales planning – Your Prospects, Your Customers and Sales .  Notice that these are all the things above that follow the equal signs in the formula above.  They are all the result of something else in the formula , i.e., a result of something. Thus they cannot be changed.  The things that we want to plan to change are the things that are variable , i.e. things that can be changed.  From the above formula you see that there ...

Throughout the world serving 69 million customers every day, the world's largest and most profitable restaurant group earns net profits as high as 20% of its sales.  From New Delhi to China, from Tanzania to Singapore, every time when you order something at McDonald's counter, their staff will inevitably ask you one question: Do You Want to Up size? In fact this single question made McDonald's rich.  Notice that McDonald's did not ask you other questions that most salespeople ask, including, "Can you give us some referrals?", "Do you want to become our member to enjoy discounts?" or "Can you please come back next week?" etc. If you answer no to the above 'Up size' question, McDonald's staff will next ask you, "Do you want an apple pie to go with your meal?"  If you still answer no to this question, the staff will ask you "Do you want to add $1 to get the limited edition Minion toy?" All the questions ...