Your Coffee Break - from Other Creations- News You Can Use

News You Can Use

Your Coffee Break for Personal and Business Development

In this Issue

Musings

Shayna's Success Stories

Your Money

Your FREE Gift

Something to think about..

"Attitudes are contagious. Are yours worth catching?"

Anonymous

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Anne Frank

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MUSINGS...
Fire Your Customers

Increasing sales may not be good for your business. Are you crazy, you say? Not at all. We often are concerned that we have more customers than ever before but aren't making more money. There is a very easy answer.
The solution can be found in an analysis of your customers. There are a certain level of customers or clients that make you money; about 20% and a group of about 10% that are costing you money. These are the one time buyer or the small quantity user. Costs that are amortized across the whole sales process decrease per unit when tied to larger quantities. That means that the 80% of small customers are costing you more than you are making.
You need to analyze your customers to see which group they each belong to .It is important that you direct your best marketing efforts at the 20% of customers who are improving your bottom line. Your middle group probably tends to be very loyal so special attention is not necessary. The bottom group are the customers that you fire. You can easily reduce your number of un-profitable clients by increasing minimum orders or convenience fees. In time your customer list will contain fewer names, but they will be the most valuable.

Shayna's Success Success Stories
Having Good Tools Helps
Shayna's author Donna Upshaw is available for custom cartooning and also has a line of wonderful note cards to bring smiles to your clients..
Click here to follow Shayna's Success Stories from
the very beginning of her adventures

Your Money-.

Are you still waiting for your portfolio to recover? Well, as of December the Market has recovered 65% from its low in March.

This is a good sign, but is it enough? Because of the arithmetic of recovery this may not be enough for you. If you lost 10% you will have to gain 11.1% to get back to even; at 40% you need to grow 66.7% to get back to even. For example: if you lost 50% of a $1000 investment you would need 100% to get even-double your current $500 investment value.

The good news is that time is on your side; the overall recovery is progressing and you can expect to be whole again in the near future.

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