In a products and services economy there are only three ways to grow a business:
1. Increase the number of customers
2. Increase the average dollar amount of each transaction.
3. Increase the frequency of repurchase.
In Cowboy Safety none of this may be correct. Cowboy Safety operates in a transformational economy where products and services are often given away.
The following are some of the general questions that we ask in an initial survey.
1. Why do you want to grow your business? At one company we "fired" 20% of the customers and increased profits from $1,200 to $500,000.
1. Increase the number of customers
2. Increase the average dollar amount of each transaction.
3. Increase the frequency of repurchase.
In Cowboy Safety none of this may be correct. Cowboy Safety operates in a transformational economy where products and services are often given away.
The following are some of the general questions that we ask in an initial survey.
1. Why do you want to grow your business? At one company we "fired" 20% of the customers and increased profits from $1,200 to $500,000.
2. Why would you want to increase the average dollar amount of each purchase? One man said “People come in with their smartphone and scan a bar code on a product that I have in my showroom, and what comes up on the phone is the three closest places and their price and then also what it is on Amazon.”
3. What would you think about a really dramatic increase in customers, reducing the average dollar amount of each purchase, and for a very few dramatically increasing repurchase total amounts?
4. Would you like to work less and make more?
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