That’s an interesting question, isn’t it?
I’m not talking about conventional industry awards; I’m talking about a series of Olympic competitions based on verifiable results between you and your competitors. Ever wonder where you’d sit on the medal table, compared with the competition…?
So humour me for a moment!
If we did have an alternative Olympics for your business industry, these events would be the key events that small businesses should consider training to compete in…
- Customer acquisition – how many customers to you acquire each month?
- Cost of acquisition – how much does it cost you to acquire a customer?
- Referrals – how many referrals to you get each month?
- Conversion – what percentage of leads/enquiries convert into customers?
- Average sales value – how much do customers spend with you on average per transaction?
- Attrition – how many customers do you lose each month?
- Complaints – how many unhappy customers do you get each month?
- Resolution – how many customer complaints were resolved satisfactorily?And so on…!
If you won a medal for 90% of these events I guarantee you’d be one of the best businesses in your industry.
If you won the majority of golds, I guarantee you’d be the leader in your industry.
While if you didn’t get on the rostrum for any of these events you’ll probably have a lot of work to do.
Focussing on these numbers is a sure-fire way to make huge strides in your business, but most people don’t measure them…!
So by doing this simple exercise you’ll already have an advantage that you can use to grow your business.