Monday, May 4, 2009
Are your hours open to best maximize your top line sales or your lifestyle?
When your business doors are closed, do potential, current, or future customers (economic decision makers) stop spending their money? Do outside and inside factors affecting your business and your competition stop, or is someone out there creating a better widget than you, ending their day when you do? No, they are not!
Obviously, many factors come into play as a big part in determining your operational hours. But when was the last time you truly looked at your business unit’s hours with a critical and objective eye and made sure that they were appropriate to make your future goals? Or are those hours just posted for “your convenience?”
The traditional hours of Monday through Friday, nine to five, are a very antiquated way of thinking. This is a global economy that is always “on, open, or alive,” 24/7/52. When you are sleeping, someone from halfway around the world is working. Look at your traffic, both on and off line, are you open and ready when needed the most? Have you looked at your competition and know what their posted hours are? Do you have the right staff on and servicing the demand at a time to maximize product and service revenue collection? Ask your associates, your clients and even your competitive set, when does YOUR BUSINESS need to be open for YOUR CURRENT AND POTENTIAL CLIENTS? Forget about a given day, look at demand and build your business model around it, that way, you truly have a business FOR THE CLIENT’S wants and needs.
If you build it around the demand of your clients, they will come!