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Rarely have I met a person who can tell me they have no desire to increase the revenue of their business. Most of us like the challenge of growing our business. It shows we are good at what we do. What I struggle to understand is businesses and people who don't make that effort. It is not that they don't need the money. Instead is they just don't think about what they can do to improve their business.
I have a friend in a service business. He spoke recently about his plans to retire from the business. Someone has expressed an interest in purchasing the business. I asked my friend what this person would be buying.
The answer was that the buyer would get the physical tools of the business along with the list of all the people he had done work for. His business is the type where the customer would need his services several times a year. When he finishes a service call, he expects the customer to call him for the next service.
My question was to ask why he didn't make an appointment when making a service call for the next service call. He thought it was a good idea. We did a bit of calculating together. The number of customers per day became the number of customers every three months, and then we multiplied by four. I asked him to multiply that number by the average price of a service call. The answer was a nice six-digit figure.
My follow-up question was whether he thought his prospective buyer would pay more if they knew there was that much business scheduled over the next twelve months. He understood my message but still has not asked his customers to book their next appointment.
That example is right there with my friend who owns a restaurant. I asked why his wait staff did not offer dessert to customers. The response was that the wait staff doesn't because most people say no. I offer no explanation for that logic.
Business is there for the taking. All it takes to increase revenue is to ask for it.
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