(Time to read this Blog section is about 60 seconds)
- Medical tourism is big business. ‘Medical Tourism’ is the proposition of traveling to another country for medical treatments because of lower cost, shorter wait times, or for treatments that are not available in their home country. Medical Tourism is now a $65 billion industry annually…and growing rapidly.
- Do your promotions or ‘special sales’ make you look stupid or desperate? I’ve just received an email from an Investment Advisory Service announcing 86% savings during a ‘Back To School Blowout Sale’ on their Premium Dividend Stock-picking Service.
My 1st rule of going on sale is to go on sale for a specific reason that makes sense to your customers…and this one makes absolutely no sense. Are they saying that you should subscribe to this investment service for your 11-year-old so that they can more effectively invest their $2.00 a week allowance? It’s just plain goofy! Don’t do this stuff.
And their 86% discount gets you thinking that they’re really ripping you off the rest of the year.
- Stuff to know before you climb Mt. Everest. 10% of Mt. Everest Climbers die. 80% of those fatalities occur on the way down. Four main reasons are:
b) euphoria that clouds judgement.
c) lack of planning. Most planning is focused on the ascent.
- Ultimately, you must sell your way to prosperity. You can spend your way into bankruptcy but, in the long run you can’t save your way to prosperity. Yes, you need to be a thrifty and efficient operator, but after you’ve trimmed the fat and improved your processes, additional savings get harder and harder to find without cutting into the very heart and soul of your business.
The ‘law of diminishing returns’ kicks in at some point and you have to get off your backside and increase sales…profitably. You have to create, deliver and effectively communicate compelling customer-owning value that ‘grabs’ your target customers, clearly differentiates you from your competitors, makes you ‘famous’ and grows your bottom line!
Just 5% more sales, if managed effectively, can deliver 25% to 40% more profit. Not too shabby! What’s your detailed Action Plan to increase sales for the balance of 2018? Who will do what, by when, measured how, at what cost and rewarded how?
- The world’s most visited city is not New York, London or Paris. According to Travel & Leisure Magazine, the world’s most visited city, with 20.2 million international visitors, is Bangkok, Thailand.