Actually it is not my first ever blog post in fact I have been blogging for years and writing news letters for longer than I wish to remember, but this is the first blog post here.
So why am I am finally writing my own blog post and whats this site about?
Well the idea is to share my ideas and about doing business on and off line because it is something that I am really passionate about.
Ask anyone who knows me through business and they will tell you that I just love to talk about anything to do with this subject and I am afraid I can often go “off on one” which can leave the listener a little confused, but I promise I will try to be a little more restrained with this blog.
I have always loved the saying “Business is simple, people make it complicated” and after you have run a few of your own and watched and talked with other business owners you soon see that this is so true!
I am not saying there are some parts of businesses that can get complex or that many larger businesses have a lot to deal with, it is just that these generally get complex and out of hand because the proper procedures or systems were not looked at in the first place.
But that’s for later. In this first post I want to ask you a few question I will tell you why after, so here goes.
Can you answer the following with any accuracy?
1. How many leads do you get a day?
This could be hits to your website, people walking into your shop, people ringing you or you ringing targeted contacts.
2. How many do you convert to customers?
Most people when asked this come up with 80 to 90% or more. It’s very doubtful it is even 50% but if you can prove it that is all that matters.
3. Whats your average order value?
Interestingly most business owners know this because it is an easy calculation of total amount of sales divided my the number of sales.
4. What is the average number of orders you get from a customer a month or year.
Many business owners don’t know this figure and because of that they can not make proper business decisions?
5. What is the average life-time value of a customer.
You need to know 3 and 4 to get this!
6. What are your cost as a percentage of sales?
Turnover doesn’t mean anything it is only profit that counts and to know that you have to know your costs.
So how many of the above questions can you answer?
To be honest most small business owners I meet may know 2 or 3, usually try to guess the rest and get it badly wrong.
But when you know these figures you will be amazed how quickly you can grow your business and make it more profitable.
This is just the first step?
Then contact me.
sales @ bluebelldata.co.uk
Thanks for reading.
Malcolm runs several businesses. Has over 100 websites in different niche markets and helps small business get the best from the web.
Favourite question. What do you want your website to do?