How Much Profit Are YOU Innocently Leaving On The Table
How Much Profit Are YOU Innocently Leaving On The Table
Imagine you own a high profile brand-name retail outlet in a major tourist location in a major city. In the middle of Sydney’s Darling Harbour retail precinct to be exact…
Imagine the rental overhead and the break-even point…
Imagine how I felt battling the traffic on New Year’s Day (horrendous), finding a parking space (very taxing) with the sole intent of visiting your store for my son to buy from you, only to find your store the only one in the entire precinct that was closed.
So I returned the following day so my son could buy polo shirts. He wanted two; a blue one and a white one. They had his size in blue for which my son handed over $105 in cash but the white was out of stock.
The sales for the white shirt was open to be made; doubling the size of the order but it wasn’t made. My son walked out with the second $105 in his pocket. The young female assistant said he could mail-order the shirt from them when he got home using the address details on the sales receipt.
Mistake. She let him walk out with the cash in his pocket. Anyone with teenage kids knows that cash in pocket equates to “Must Spend”.
What happened next? He saw another shirt in a nearby store and bought it. Not the same brand but a nice shirt nevertheless.
What should have happened? Simple. By offering to mail the white shirt to my son when it was available again, (even at a premium to cover costs) he would have parted with the cash on the spot. Plus he wouldn’t have joined the second store’s email list… (The store we bought from didn’t offer that by the way.)
So simple. The sale was there to be made but it was missed. How many more were missed and at what cost?
Your assignment this week is to check your processes to make sure this isn’t happening to you.
How Much Profit Are YOU Innocently Leaving On The Table - To learn more about this author, visit James Yuille's Website.
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If you are a salesperson, sales manager or business owner, you MUST read this…
Imagine you own a high profile brand-name retail outlet in a major tourist location in a major city. In the middle of Sydney’s Darling Harbour retail precinct to be exact…
Imagine the rental overhead and the break-even point…
Imagine how I felt battling the traffic on New Year’s Day (horrendous), finding a parking space (very taxing) with the sole intent of visiting your store for my son to buy from you, only to find your store the only one in the entire precinct that was closed.
So I returned the following day so my son could buy polo shirts. He wanted two; a blue one and a white one. They had his size in blue for which my son handed over $105 in cash but the white was out of stock.
The sales for the white shirt was open to be made; doubling the size of the order but it wasn’t made. My son walked out with the second $105 in his pocket. The young female assistant said he could mail-order the shirt from them when he got home using the address details on the sales receipt.
Mistake. She let him walk out with the cash in his pocket. Anyone with teenage kids knows that cash in pocket equates to “Must Spend”.
What happened next? He saw another shirt in a nearby store and bought it. Not the same brand but a nice shirt nevertheless.
What should have happened? Simple. By offering to mail the white shirt to my son when it was available again, (even at a premium to cover costs) he would have parted with the cash on the spot. Plus he wouldn’t have joined the second store’s email list… (The store we bought from didn’t offer that by the way.)
So simple. The sale was there to be made but it was missed. How many more were missed and at what cost?
Your assignment this week is to check your processes to make sure this isn’t happening to you.
How Much Profit Are YOU Innocently Leaving On The Table - To learn more about this author, visit James Yuille's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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