Astonishing – My younger brother Sohn Ng recently turned around a business that is making losses of over $80K a month to sucking in cash of more than $200,000.00 a month! How long did he take to do it? How about 1 month? On momentum, the second month is going to exceed $300,000.00! Woh! Want to know The Secret?
The place is well decorated. Great ambiance. Good price. But no customers. They hired my brother for consulting and he came up with a few strategies and tactics. But executed very well! Forgot whether it’s Tom Peters or Michael Porter who said, poor strategy executed well is always better than a great strategy executed poorly. It’s Porter who said it. That means don’t over plan and brainstorm great ideas and then do them terribly. I’ve consulted many small medium and large companies and you know what? You may have a strategy but until it’s tested in the marketplace, it’s a theory. Once you have a strategy you come out with tactical gameplay and guess what, sometimes we need to change the strategy to fit the evolution of the market.
So Sohn’s strategies and tactics are very simple:
1 > create a crowd puller
2> bring new people in
3> make them stay
4> look at what others are doing and do things differently
5> find niches for a specific product
6> collect customer’s database
7> manage and use the database frequently
8> create a new market
9> get close to customers
10> get customers to get referrals
There you go, that’s some ideas how you can turn around money-losing retailers to making big bucks.
That’s my bro Sohn Ng, proud of the brains in the family. Keep it up!
Sales Ninja Grandmaster
Hanzo Ng is Sales Ninja Grandmaster, lingo for Chief Trainer of Sales Ninja Training, Asia’s #1 Unconventional Sales Training. Sales Ninja Training specializes in helping small-medium, listed and global companies transform their salespeople into the ultimate sales professional known as Sales Ninja. For more information on our sales, motivation, and leadership training, visit our website.
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