Friday, July 15, 2016

Let's talk price

Cloverleaf Family Restaurant, 4023 West 3rd Street, Bloomington, IN, has been a family owned and operated business for over 25 years.  John Byers, owner, has spent his entire life in the restaurant business and has a wealth of knowledge about being successful.
Cloverleaf Family Restaurant is open six days a week and serves breakfast and lunch.  It seats 240 people and to give you an idea of the volume they use over 1100 eggs on a Saturday morning alone!  Their repeat business is so strong that many customers will come in 2 times a day.
John could easily fill a book with his keys to success in this demanding business.  One of the things he said has stayed with me.
"When it comes to pricing it is better to have 3 nickels than one dime.  Price your menu so people will return again and again."
He is a testimony to his principle.  More repeat business than anyone I know.
Let's look at it from a sales person's point.
A business with a 20% gross profit margin that implements a 10% price reduction (either through promotion or negotiation) needs to double their sales to stand still in terms of profit! In other words, a 10% discount requires you to DOUBLE your sales to make the same gross profit!
If your price is $50 per case and your cost is $40 your are making a 20% gross profit.  If you sell 100 cases your make $1,000.
The customer asks you for a discount.  You negotiate up to a 5% discount IF they double their order.  If they agree, you just made $1,500 gross profit and your customer got a good deal. 
Bottom line.  There are many ways to look at pricing.  I decided to try John's strategy.  I have discounted my 6 best sellers and several of my programs up to 75% off!  Click here and let me know.
Visit for details.

Sunday, July 10, 2016

The believers vs the non believers

Selling is believing in something most people can't see. 

 Would you agree - that definition pretty much sums up what selling is all about?  And sometimes the hardest thing to do is not only keep yourself believing, but keeping those around you believing as well.  Most people are not patient enough to be in sales.  It seems easier for them to quit.  Throw in the towel.  Fall in with the non-believers.

 For example.  You have a customer who has been listening to your proposal with interest.  You have been calling on them for months, sometimes even years.  You need a paycheck and you know that if you give up now you may lose the whole thing.  You keep calling.  You keep "seeing" that the business will eventually come.  You keep positive and affirming to yourself that you will get the business.  You are a believer. 

Then there are the non believers.  Those are the people who just don't get it.  They are the ones who only believe what they see right in front of them.  They are the ones you have to watch out for.  They are the ones who can talk you into quitting.  It really takes conviction and the ability to believe in the unknown to be in sales.  So the question is, do you keep going?  Or do you quit? 

 You keep going.  You keep learning.  You keep making the calls.  You keep "seeing" the business.

 I have everything you need to become a believer at: