Just one of the things we get up to at hackspace
Last night I was at my local “Hack Space” meeting.
(We make things like 3D printers, laser cutters and other cool stuff.)
They have just moved into a unit which allows them to open the space to more people.
In fact they have gone from the comfort of “free help” to actually paying for their new premises monthly.
That means of course for the first time increasing membership and keeping members happy is a priority for the club.
They are now in effect a business with normal business problems…
Paying bills
Buying equipment
Marketing.
(They don’t have to pay wages which is a big advantage)
Apart from giving my time free to help set up the new premises I am also helping with the business strategy.
Although these are my friends and the maker space is fun for me…
…Once I put my business hat on then we start talking numbers.
Leads
Conversion
Sales
Average Order Value
Average number of orders.
Turnover
Cost
Profit.
And just like I would advise any business I work with…
Leads, Conversion, Average Order Value, Average Number of Orders and Costs are the figures I suggest they need to concentrate on most.
Which turn into these questions…
Where are we going to get new leads from?
How are we going to convert those leads into customers?
What can we do to raise our average order value?
How can we get current customers to order more from us?
How can we keep cost under control?
These questions now need to be answered (just like any business) continually.
Judging from our conversations last night…
…I get a feeling that where I used to be a casual member popping in “now and then” I am about to spend a lot more time at the new premises.
But hey I get to play with a lot of neat toys!
If you want to find out more about how to grow your business (or charity) then:
Download your free “How to double your turnover in 90 days or less” report to find out.
Thanks
Malcolm
