Cost-of-Goods-Sold – The 4th Step of Exponential Success

Do yourself a favor and re-read my last post.  If you hang in there, I will show you in my posts over the next few weeks how to increase your business revenue by 100% with only a 6% effort.  Exponentially, if you implement these 12 success factors I will share with you over the next few weeks, you will double your sales, profits, and goals!!  You cannot afford not to sign up and read this blog each week.

The 4th step is to cut your cost-of-goods sold by 6%.

I used to own a dry cleaners.  I cut my cost-of-goods sold by 6% by using a lighter hanger and adding 2 more garments per plastic bag.  These changes in process is not noticed by the customer but saved me an average of 6% in cost with each and every customer.  That is 6% into my pocket!!  How can you do the same thing with your business?

Think of the little things you can do in your business that can save you 6% in cost-of-goods sold.

What is EXPONENTIAL success?

Exponential success is more that just reaching a simple goal and claiming “success!”.  You need to know the secret compounding effects of planning and reaching several smaller goals. Huh?  Let me explain. If you manage a retail store, having a goal of increasing sales by 20% may be to much of a stretch and not possible to achieve.  But, if you break it down into several smaller goals, you can easily reach your goal and even exceed your 20% goal.  Here is the secret strategy in three steps:

1.  Set a goal of increasing prices by 6%

2.  Set a goal to increase transaction counts by 6%

3.  Set a goal to increase average sale by 6%

Breaking down your goals like this will make your goals easier to achieve and the results are exponential.  Do the math – A 6% increase in each of this areas is much easier to achieve than 20% in any one area, and will net you about 20%.  

There are 12 strategies to increase sales. In future posts I will share more of them.  Stay tuned…