Are your operations leaving money on the table?

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Are your operations leaving money on the table?

By Anna MaskerIn standard14th November, 2008

Over the summer I used to go to a gas station along a route I frequently traveled.  Their prices were the best in the area.  At this point of the summer gas prices were nearing $4.00/gallon, and I drive a mid-size SUV which guzzles gas like it is going out of style.  So filling up my tank became an expense endeavor, like, $85 expensive.

Here’s the problem.  The gas station would only charge up to $75 on a credit card.  So every time I went there they lost $10 of income that I was willing to give them. Why? Because of a hiccup in their back office.  I looked around me and did the math:  because their prices were good, they had 4 cars at any given point in time filling up, and ½ of them were SUVs with big tanks like mine, so they were potentially loosing $20 every 5 minutes. Insane, right?

On the flip side, I was in Target the other day, and was “just running in for one thing” but then I hit the cough/cold aisle and long story short, 15 minutes later, I had an armful of stuff.  As I neared the end of the aisle, what did I see, but a stack of Target hand baskets, beckoning me to unload my armful and continue shopping.  Guess what?  With my arms free to pick up more stuff, I did just that.

The point: make sure you are not leaving money on the table because of some silly glitch in your back-office or some obscure policy you have in place.  Re-think everything from a customer’s point of view and you may find opportunities to increase your sales from those already shopping at your store.

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