In business we are often looking to make changes that will improve our business. All too often we are looking for dramatic changes, relocating, buying larger premises, more money spent on advertising, hiring more staff in the hope that the investment will pay dividends.
I would like to raise a question. Should we always be looking for big changes to make things better?
The reality is that often small changes have big effects. I remember working in the carpet trade many years ago and the company used to price everything with 95p at the end of the price such as £5.95, £6.95. £10.95 per square yard. By simply changing that to 99p it generated an extra 4p per square yard of carpet sold. Not one customer was lost and the profits of this national company were considerably increased. An example of small change big effect.
Small changes in the way we market our businesses can also have a big effect. In a headline just changing one word can often increase the response. If you make tweets on Twitter with links to your website by simply finding words that work better than others you can dramatically increase the click throughs to your website.
Perhaps you own a shop and space in it is limited it could well be with better planning of the layout and stock control there would be no need to relocate to larger premises. Sales would rise without increasing costs too much.
You could for example look to upsell to your customers. If you can get each customer to spend just a little more each time it would be far easier than trying to find more new customers. If you do this correctly your customers will be pleased with their extra goods or better quality products and are more likely to stay loyal and refer others to you.
I increased the amount of referrals a business was receiving by simply making sure every customer was contacted at least twice a year and supplied with a few business cards each time. The results were quite amazing! Such a small change made a dramatic difference to that business. The customers of course also were more likely to come back as they could not forget who was concerned about them and wanted to provide them with a good service.
With your business take time to think about the small changes that you could make that will increase profits, increase turnover and reduce costs. You will be amazed at what you can achieve with very little effort.
The Entrepreneur Club
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