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Business book that changed my way of thinking

I’m an avid reader, at several books a month. Seldom do I buy a book from an author and then rush out and buy another one from the same author.

On this author, I bought 7 or 8 at one fell swoop. So of the best ideas in business and it comes from Australia of all places!

Instant Cashflow
By Bradley J. Sugars

Raise the value of your average sale
Boost your margins
Turn your business into a money machine.

Bradley’s books are so easy to read and if you’ve ever read “The E-Myth” by Michael Gerber (another excellent book for your library) he uses the same story line. Him giving his story as he talks with a client. Bradley’s client is his car mechanic and how he helped him go from poor to good fortune, working 80 hour weeks, to working a normal life and even opening additional stores. Car mechanic? Jeweler? Jewelry store owner with employees? Hmm, sort of the same theme, don’t you think?

For the most part he shows how to
  1. Get more business by becoming a marketing genius.
  2. Once they come in the door to sell them more things, higher priced things and to get them to come back.
On becoming a marketing genius Bradley shows us the difference between trying to lower costs versus increasing income. You show focus on increasing cashflow, a constant cashflow. Many store owners think of marketing as an expense rather than an investment. Most stores I’ve seen who have a harder year cut advertising first. That’s like a framer eating their seed. Nothing new will come in next year!...

After getting them in the door one of the first things to tackle is to see if the marketing and in store activity is working. We need to track our company’s performance:

We should track

1. Number of leads we get from and ad.
2. Then our conversion rate-how many people out of 100 actually buy.
3. Average sale
4. Turnover, which is how many times they return to the store.
5. Average margin of the sale.

By increasing just one or two of the numbers above you could increase sales 25-50% easy. Change all of them a smidge and profits could double, as well as sales.

In Instant Cashflow” Bradley lists:

1. 60 tips to increase leads (people to come into your store)
2. 65 ways to boost margins
3. 49 tips for boosting average dollar sale.
4. 50 tips for boosting number of transactions
5. 58 ways to boost conversation rate.

A great example in his book of what this can doo for you is shown on page 30. Here he lists a “typical” company that is tracking and has the numbers for:

Leads; Conversion rate; customers; number of transactions; average dollar sale; total turn over; margins and profits.

If you were to increase each one of these just 10%
i.e. You bring in 440 people rather than 400
You sell 44 rather 40
They buy 2.2 items rather than 2
Etc

Just by increasing these track able items by 10% profits jump from $50,000 to $80,525.00!

Once you start reading his book, you won’t put it down. Then you’ll want to read “Instant Advertising”, then “Instant Profit”. You’ll be hooked. Then you’re onto your own “Instant Implementation” because reading isn’t all that makes great people. But great people do start with great ideas.


David Geller
www.jewelerprofit.com