When meeting with business owners for the first time, I always look for the little things we can implement immediately to start seeing progress (translated increased revenue) in their business. It’s rarely a big thing that is causing them to lose business or plateau in their business.
I found a great example of this while enjoying a meal at a local restaurant. After finishing our meal and getting ready to pay the check, I realized our server never mentioned appetizers before the meal and did not ask if we wanted dessert after we finished our meal. Then I started thinking about the money this restaurant was loosing as a result of not asking for dessert.
So here is the math. If a server asks everyone who comes in the restaurant if they want dessert and sells only 4 per day, that could increase the bottom line by $20. The average price of dessert in this restaurant is $5.00. So 4 times $5.00 gives us the $20.00 per day. Multiply that $20 by 365 days and you get $7300. Still not a large amount. This particular restaurant has 2200 stores nationwide. So multiply 2200 by $7300. What do you get? An astounding number – $16,060.000. Yes, that is sixteen million dollars. And from only one server. Most of these restaurants have 4 or more servers working the floor. You can do the math from here. They are losing, at least, 16 million dollars per year from not properly training their staff.
Maybe your business can’t make another 16 million per year. But what if you could make another $5000 or $20,000 per year. Would that make a difference in your business?
So back to my initial point. It is almost always a little thing that can have a big impact on your profits and bottom line. I challenge you to take an hour this week, sit down with a pad and paper, and do a little brainstorming. Find the little thing in your business that you can implement or change immediately to take your business up a notch. It could be an upsell to a current customer, a new service you could add to your business, another product offering. There are probably a couple of little things you could implement today.
I would love to hear your comments on what you found in your business that will have a huge impact. So post a comment and let me know what you will be implementing this week to grow your business.