Raymond Recommends
  • Home
  • Books
  • Entrepreneur Tips
  • Property
  • Useful Links
  • Contact
  • Blog and Musings
  • Micro Homes
  • Churchill Trust
  • 800 Words
  • Social Media Training
  • Golden Rules
  • How to Affiliate
  • Diamond Cleaner

There are Only 4 Ways to Grow any Business

1/9/2010

0 Comments

 
1. Increase the number of customers of the type you want to have
2. Increase the number of times they come back to you
3. Increase the average spend of each customer
4. Increase the effectiveness of each process in your business

Once you do all that, running a business is easy.

I used to call up the cafe/bar that we had in central Edinburgh and ask the manager how many people we had in that day.

If he said 250, then I knew that the banking next day should be approx £1,850 as we had an average spend of just under £7.50

When we first started, the average spend was just £3.41 which is only £850.  So by focussing on getting the average spend up, profits went up.

0 Comments

    Author

    Raymond is a serial entrepreneur, author, World Record Holding public speaker, Corporate Trainer on Raising Angel Finance and Social Media and former qualified corporate lawyer.

    With business experience in Commercial and Residential Property, idea (IP)  protection, restaurants, software, retail, business development and Social Media, he might be best placed to help you improve your Profit Potential. Use the contact page to get in touch.

    Archives

    July 2017
    May 2017
    January 2017
    September 2016
    January 2016
    December 2015
    September 2015
    March 2015
    November 2014
    October 2014
    August 2013
    September 2011
    September 2010
    August 2010
    June 2010

    Categories

    All
    4 Ways To Grow Your Business
    Abs
    BPS
    CASTLED
    Contrarian Thinking
    Decision Fatigue
    Entrepreneurs
    Freakonomics
    Legal Disruption
    Legal Services Bill
    Pro-Bono
    Sales
    Salvation Army

    RSS Feed

About Me
Terms of Use
Privacy Policy
Contact Me