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Small Business Administration Research Reveals One Advanced Method To Unlock Profit Potential For Brick & Mortar Business
For the past 50 years the U.S. Small Business Administration has been tracking the factors that determine success or failure of literally millions of enterprises. The SBA has uncovered more information about what will help a small business survive and thrive than ANY other organization – period! It’s shocking to realize that over 80% of all start-ups won’t make even 3 years in business when the right advice would make them millions. You’ve got to ask: Why?
Look outside of your business – really – do it right now. What do you see going past you?
What you see is actually your most valuable asset passing by your front door. Every time you ever looked out and thought, “If I could just get a few more of those people to pull in here and walk through our place, we could sell a lot more“, you were very close to the solution.
The road in front of your business is literally a ‘river of money’. The average retail business has approximately 28,000 cars per day passing right by the front door. The U.S. Small Business Administration points out that typically 80% of those people pass by an average of 30-60 times a month – to and from work, on their way to the grocery, etc. That equates to 840,000 ‘exposures’ each and every month – at your location.
Each and every month, many of those people will purchase a product YOU OFFER, right? But – how many of those people passing by are buying from you? How many have even stopped in and given you the chance? Why not?!
Let’s really focus on this for a moment. Out of the 28,000 or so people that will pass you today, how many would buy from you if they came into your store or place of business? What are you currently doing to get those people floating by on that river of money – the river that you pay THOUSANDS to be in front of every day, every month – off the road and into your business?
Are you just letting them drive by and letting them purchase what you have somewhere else?
Well, what can you do about it? They going to just drive past you anyway, aren’t they? And what does that have to do with the ‘ULTIMATE Solution’ anyhow? Only… Everything!!!
What do those people see when they are driving past? Do you allow them to pass you with the perception that your place is just an ‘ordinary’ enterprise? Are you as eye-catching as you can possibly be – or do you look like all the other vendors on that same road who haven’t realized their potential yet?
It’s really simple: The more eyes you catch, the better chance you have of getting their attention onto YOUR business. Is your location as attractive as it could be? Would you say those drivers and pedestrians going by are thinking, “Wow, look at that storefront!” or “Ugh, that place really is an eye-sore.” (Let me tell you, if it isn’t the first thought – it may as well be the second one.) Really, the better you look, the more seriously people take you – and what you have inside.
Why did you pick your location in the first place? There is only one right answer: because you wanted to be in front of all that traffic!
And why: Because you assume that the more people who see you, the more business you will do. But, friends – this is not true. If you look less than 100% amazing, less that state-of-the-art and established, the people with the nice cars, good credit, and money to spend will just drive right past you – like they are doing right now.
The question is, what can you do to turn those tens of thousands of prospective customers onto your product and into your parking lot – instead of the next guys place?
The Answer is On-Location Image and Communication.
In simplest terms, the Small Business Administration says that maximally effective signage is the single-most-important investment you will EVER make.
Notice, the SBA didn’t say SIGNS – they said Effective Signage, and there is a world of difference.
Understand this point clearly: the one organization that has dealt with millions of business successes and failures over a 50 year period, with more research than any other entity in the world, says that – of all the concerns of a physical retail business, the single-most-important concern is SIGNAGE!!! Did you happen to take that into consideration when you opened your business?
To find out more about this most important method, visit the SBA's website - www.sba.gov - or go over to Amazon.com and pick up this book published by the U.S. Small Business Administration (don't be put off by the bare-bones title - it's the info you want): On-Premise Signs As Storefront Marketing Devices and Systems
Jim Thorpe is an award-winning sign artist who works from his home in Ithaca, NY, where he specializes in custom carved, gold-leaf signs for businesses of all kinds. He also handcrafted his website - www.JimThorpeSigns.com - which he launched 10 years ago. Thorpe consults and advises small businesses about how to maximize profits using the traditional methods of on-location marketing blended with the new media techniques of online marketing.
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