2019 Business Excellence Forum – Blinding Flashes of the Obvious Part 2

Continuing with Brad Sugars’ presentation.  Brad listed some of his favorite 5 Ways strategies (in his order of preference):

•        Margin:

o   Don’t just raise prices, continually educate your customers and team as to your value proposition

o   Don’t discount – instead of giving away cash, give away value (make it special)

• ·       Conversion Rate:

o   Training, training, training

o   Make a benefit list – the top reasons customers should buy

o   “you can’t outsell your competitors if you don’t know them.” – Learn as much as you can about what they do well and not so well

o   Flowchart your sales process

o   Use Critical Non-Essentials (CNEs)

•        Average $ Sale:

o   Training, training, training

o   A/B/C/D customers – guide your customers, or send some of them to your competition

•        Number of Transactions:

o   Constantly build your database

o   Rebooking

o   VIP programs

o   Special offers & events

•        Lead Generation:

o   Video testimonials

o   Professionally built website

“Marketing is the life-blood of the business.”

Our next speaker was the very inspirational Dr. Jen Welter.  Dr. Welter is the first female coach in the NFL.  She coached the inside linebackers for the NFL’s Arizona Cardinals.  A few key BFOs are:

·       Don’t live life looking in the rearview mirror

·       Be defined by what you do, not by what people are willing to pay you

·       “You are the producer, director, and lead actor of your life.”

·       “Why fit in when you can stand out?”

·       People listen when you whisper

We finished day one with a presentation from Richard Maloney, Founder and CEO of Engage & Grow Global.  Richard’s presentation revolved around the subject of employee engagement; its definition, costs, and its cure.  Among the many, many BFOs presented are the following highlights:

·       “Nobody cares how much you know until they know how much you care.”  - Theodore Roosevelt

Definitions of the different levels of employee engagement

A few more key BFOs

·       “If you don’t measure, you lose treasure.”

·       Resolve disagreements within your company quickly – get the “splinters” out before they become infected

·       A great question to regularly ask your team is – “What around here needs to improve to become number one in our industry?”

Stay tuned for the next installment of BFOs from the 2019 BEF.