proven case studies from irish retailers…€¦ · x conversion rate = customers x # of...
TRANSCRIPT
Paul Fagan | Managing Director | 22 May 19
5 Secrets To Increasing Your
Sales & Profits
Proven Case Studies From
Irish Retailers…
Coaching…Not Just For Sports…
REWARD YOUR TIME
5 Ways To Driving Sales and Profits in your business
Proven Case Studies
Complimentary Business Review
Our purpose today…
CHANGING THE WORLD THROUGH BUSINESS RE-EDUCATION EVERYDAY!
A little bit about us…
• We are the “World’s #1 Business Coaching Firm”
• We coach over 15,000 businesses in 70 countries from 1000 offices world-wide
• Established in Ireland since 2002, our vision is – “Growing Businesses and Building Communities across Ireland through Business Re-education”
• Irish Franchisee of the Year - Service 2018, 2017
• ActionCOACH EMEA Most Community Impact Award 2019
• ActionCOACH EMEA Senior Firm of the Year 2019, 2018, 2017, 2016, 2015
• ActionCOACH EMEA Coach of the Year 2019, 2018, 2017,2016
Award Winning Results…
Profits Increased
by 156%Sales Increased
by 24%23% Increase In Employee Rates
Results Our Clients Achieve…
To get us started…
I have a vital question …
Can I be YOUR
Coach for the next
45 minutes?
Challenges…
# 1 Business Challenge
Challenges you are facing in business today…
TurnoverGrowth Cash-flow
Sales
Numbers
Profit Margins
Budgeting
Financials
Management Accounts
Planning
Business Structure
Business strategy
Money
Business PlanTime
Time
Working on the Business
Team Systems
DelegationTeam Management
Responsibility
Goals
Motivation
Communication
Staff Training
Recruitment
USP
Leads
Competitors
Marketing
Challenges your are facing in business today…
Money
• Cash flow
• Sales
• KPI’s
• Profit Margins
• Budgeting
• Financials
• Management Accounts
Planning
• For Growth
• Business Plan
• Business Structure
• Business Strategy
• Budgets
• New Team
Time
• Time Management
• Prioritizing
• Working ON the
business vs In
• Delegation
• Focus
• Default Dairy
• Daily Lists
• Achieve Lists
Team
• Recruitment
• Training
• Communication
• Motivation
• Goals
• Responsibility
• Team Management
• Delegating
Sales
• Marketing
• Lead Generation
• Average no of
transactions
• Average value of
sale
• USP
• Beliefs
How does your business work ?
FINANCIAL
OPERATIONS
How your business should look ?
FINANCIAL
OPERATIONS
Team
Proven Case Study – Irish Retail Beauty Salon
Key Challenges: No. Employees: 9
Cashflow
No knowledge of the key financial numbers
No leadership from the owner
Adhoc Marketing with no defined results
Proven Case Study – Irish Retail Pharmacy Group
Key Challenges: No. Employees: 40
Growth Pains- 4 outlets - challenges managing this
Lack of ownership from store managers. Too much reliance on owner
Managing Cashflow and focus on margin
Proven Case Study – Irish Retail Fashion
Key Challenges: No. Employees: 5
• I had problems with changing attitude of myself/staff
• I did not know my key financial numbers
• I needed help with time management
Key Challenges: No. Employees: 61
• I had problems recruiting skilled personnel
• Payroll changes – implementing a back week system
• I needed help with marketing campaign plans
• Training – getting the time and suitable resources to train staff
• I needed help to devise plans to delegate responsibility to managers
Proven Case Study – Irish Retail Café/Restaurant Chain
Proven Case Study – Online Retail / Wholesale
Distribution Key Challenges: No. Employees: 20
• Price war with competitors
• Pressure on Margins
• Lost major account
• Business owner involved in every aspect of the business
The # 1 reason for Business Stress
Failure to seek
outside advice
soon enough …
So, let’s think about your business…
Is your
business
driving you…
…or are you
driving your
business?
Action’s Definition of a Successful Business…
A Commercial, Profitable,
Enterprise
- that works -
without YOU!
Marketing Chassis
5 Ways to increase Profits…
The ActionCOACH 5 Ways to Grow a Business
How many customers you have?
What your sales are?
How much profit you make?
Do you know?
ARE YOU AWARE THESE ARE JUST
RESULTS?
Number of Leadsx
Conversion Rate=
Customersx
# of Transactionsx
Avg. €€€ Sale=
Revenuex
Profit Margins =
Profit
4,000x
25%=
1,000x
2x
€100=
€200,000x
25% =
€50,000
Let’s put in some numbers…
With just a 10% increase…
4,400x
27.5%=
1,210x
2.2x
€110=
€292,820x
27.5% =
€80,525.50
Number of Leadsx
Conversion Rate=
Customersx
# of Transactionsx
Avg. €€€ Sale=
Revenuex
Profit Margins =
Profit
4,000x
25%=
1,000x
2x
€100=
€200,000x
25% =
€50,000
46% INCREASE IN
SALES
61% INCREASE IN
PROFITS
A 10% INCREASE IN 5 AREAS WILL RESULT IN
What would YOU do
with an extra
€30,525.50 (or 61%)
more profit ?
Question…
What would YOU
do with an extra
300 hours this year ?
Number of Leadsx
Conversion Rate=
Customersx
# of Transactionsx
Avg. €€€ Sale=
Revenuex
Profit Margins =
Profit
Profit Equation Order…
Test&
Measure
Strategies…
Proven Case Study – Irish Retail Pharmacy Group
Key Challenges: No. Employees: 40
Growth Pains- 4 outlets - challenges managing this
Lack of ownership from store managers. Too much reliance on owner
Managing Cashflow and focus on margin
Key Results Achieved:
8% increase in margin - 6% above the market average
Sales increased by 11%
Profits increased by 267%
Agreed KPI’s in place for the Group and each of the Stores
Individual and store targets in place with a defined Bonus Scheme in place for managers.
Reduction in stock levels of products not selling and focus on sales on reduction of low value products
Price increase across a number of lines and a review of competitor pricing on key lines monthly
Defined marketing plan for each quarter
Additional Wins:
• Operational dashboard now in place to track key financial numbers on a daily/weekly/monthly basis
• Owner now has an excellent management of back of house team allowing them focus on other key projects
• Owner able to take 4 weeks off during summer months
Proven Case Study – Irish Retail Beauty Salon
Key Challenges: No. Employees: 9
Cashflow
No knowledge of the key financial numbers
No leadership from the owner
Adhoc Marketing with no defined results
Key Results Achieved:
• Improved overall business performance
• Sales have increased by 22%
• Profits have increased 110%
• Individual and Team targets in place with a defined Bonus Scheme in place for team.
• Reduction in stock levels of products that were not selling and focus on sales on reduction of low value products
Additional Wins:
• Owner took a 2 week holiday for the 1st time in 15 years of business
• Owner spending less time working in the salon and more time working “on” the business and spending time with family
• Operational dashboard now in place to monitor the key financial numbers on a daily/weekly/monthly basis
Proven Case Study – Irish Retail Fashion
Key Challenges: No. Employees: 5
• I had problems with changing attitude of myself/staff.
• I did not know my key financial numbers.
• I needed help with time management.
Key Results Achieved:
• Overall improvement in business.
• Sales have increase by approx. 10%
• Profit has increased 25%.
• Job creation - 2 part time
Additional Wins:
• Systemising products & production.
• Developed a clear vision for the business.
• Myself and staff are motivated.
• Introduced price increases and I now know my profit margins across all stock.
Key Challenges: No. Employees: 61
• I had problems recruiting skilled personnel• Payroll changes – implementing a back week system• I needed help with marketing campaign plans• Training – getting the time and suitable resources to train staff• I needed help to devise plans to delegate responsibility to managers
Key Results Achieved:
• Overall improvement in business• Sales have increase by approx. 12%• Profit has increased 4%• Job creation 15 Full time and 13 part time
Additional Wins:
• Improved customer satisfaction & morale within team• Increased morale productivity & goal setting• Better office organisation & planning• Launched our own label product range• Meeting financial deadlines• Opened new restaurant
Proven Case Study – Irish Retail Café/Restaurant Chain
Proven Case Study – Online Retail / Wholesale
Distribution Key Challenges: No. Employees: 20
• Price war with competitors
• Pressure on Margins
• Lost major account in February
• Business owner involved in every aspect of the business
Key Results Achieved:
• Turnover increase of 14%
• Gross margins up from 5.9% to 13%
• Net margins increased 170% from 2% to 5.4%
• Team leaders appointed for each area and team now very focused and motivated.
• 5 New jobs created
Additional Wins:
• Significant reduction in costs
• Business owner has taken 2 holidays without bringing laptop or calling office on a daily basis
• Expanded market place & share
• Increased productivity and goal setting
Quoting Jim Rohn...
“Never wish your life were easier...
Wish that YOU were better…”
“Work harder on yourself than you do
on your job…”
Quoting Brad Sugars...
“Where you’ll be in 5 years will depend on
the books you read, the people you
associate with AND the Actions you take.”
2 Directions You Can Go…
2 Directions You Can Go…
So, What is Business Coaching?
Coaching is a business apprenticeship where we grow
your existing business so it more than pays for your
investment in a customised business education which
you get to keep FOREVER!
By working with your Business Coach,
you’ll learn how to generate…
More CASHFLOW, more PROFIT,more TEAMWORK,
and more FREE TIME…
So, What is Business Coaching?
Retail Excellence Retail Retreat Offer….
Complimentary
Business Coaching Review
value €495 !!!
What’s next…
“The biggest risk you
can take is to do
nothing.”
Quoting Brad Sugars…
So…
What’s Going To Be The
Catalyst For Change
In Your Business?
Coaching…
Not Just For
SportsBusiness Coaching
Strategic Planning
Training & Development
Employee Engagement
Leadership & Culture