Brad Sugars’ Comment: The Club Shoppe (Pt. 4)
Brad Sugars Says …
At first, Tim, like most business owners needing help or seeking outside advice, was very skeptical.
However, he was in such a situation that he was willing to give business coaching a go.
To begin with, he found the initial telephone coaching call not as effective as a face-to-face meeting (he’s a real people’s person) but soon realized that personalized, one-on-one business coaching was more focused and productive.
Tim’s turned out to be great client. He’s willing to be open to new ideas and to be held accountable. He is also very eager to learn, has an open mind and a desire to do whatever it takes. No matter how arduous the task or weird the suggestion, he would grab it with both hands and give it a go.
Tim’s core values are aligned with those of ActionCOACH, especially concerning rewarding customers and the team. Consequently, all strategies were painlessly implemented.
Tim’s ActionCOACH started with the basics. This included preparing a cashflow forecast and developing a plan of action to swing this into positive territory. Then, together they increased prices and stopped all discounting, and in turn reduced costs, including the inventory.
ActionCOACH then helped Tim negotiate better terms with suppliers. Then, a team incentive plan was instituted. Simple routines were systemized. ActionCOACH measured various business activities and taught sales skills. Conversion rates (from prospects to clients) were monitored and measured. Scripts were introduced.
ActionCOACH then established exclusive lines, created package deals, started a VIP program and established events that we marketed to our VTP’s every month. The first was a highly successful closed-door sale.
ActionCOACH helped Tim run an off-premises old stock clearance, and set up numerous strategic alliances. Critical non-essentials were introduced. ActionCOACH then began training the team to build Raving Fans, and introduced programs to keep customers for life. A new recruitment system for new team members was also introduced.
I’m pleased to report that Tim is now able to spend 1 full-day a week working ON the business (developing strategies and systems, etc.) and has prepared clear budgets and targets, both monthly and weekly, that the team are monitored against.
