The Essential Key To Progress
“Documentation of progress keeps our eye on the target and helps us focus on the things we really want to improve.”
If you’ve ever attempted to improve at something and were successful at doing so, I would bet that you used some kind of written scorekeeping to help you reach your goal. For example, if you want to lose weight, you would record your starting weight and then record your progress at certain intervals. Experts say that the best path to losing weight is to record everything you eat each day so that you know how well you are limiting calorie intake. If your goal was to improve your strength, you would record the amount of weights you could lift in certain exercises and then document your progress as you became stronger.
Recording your progress provides the feedback our brains need to rate our ability to reach goals and measure improvement. Consistent documentation of progress keeps our eye on the target and helps us focus on the things we really want to improve. Improving the performance of your business works the same way. If you hope for sales gains or better profit without setting specific goals, it becomes very difficult to stay focused on attaining success. But if you make simple goals which have direct impact on your company’s success and take the time to record your daily results, you eventually will improve.
In custom framing, there is no faster way of improving your profits than by increasing your average ticket.
When you make small improvements, the impact is remarkable. For example, a company selling $250,000 in custom framing that has a current average ticket of $200 can grow sales by more than $31,000 per year by increasing their average ticket by just $25. That same company who needed 1250 projects to reach $250,000 is sales, could now do $250,000 in sales by only doing 1111 projects. If they were paying someone $15 an hour to do those projects and the average project took 2 hours to complete, the company could now do the same amount of sales but save $4,170 in labor expense per year! Modest average ticket improvement helps grow sales without requiring more customers and also lowers the cost of labor because you can produce the same amount of sales with fewer projects. It’s a win-win for the profitability of your company.
Download our FREE Average Ticket Tracking Tool
If you want to make average ticket growth a goal for your company, download this free KB tool to help you record your daily progress. If you do this for every designer in your company and monitor the results, improvement and better profits are just around the corner.
Try it for 90 days and let me know how it is working for you!