How to succeed in the face of chaos…

Interstate USA?– “Dad – what’s 80 miles per hour in metric?”

“Faster than I'd like you to drive sweetie.”

When you receive this, I will be somewhere between Detroit MI and Albuquerque NM, enroute to a big copper mine in Morenci AZ. I’m helping drive my daughter to her summer job with the big mining conglomerate, Freeport-McMoRan.

For this week, therefore, I’m including an excerpt from an article I wrote last year, around this time. I think you’ll enjoy it.

Until next week…

Stay healthy and focus on profit!

- Hugh

The “Profit Accelerator” Expert

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Moving day chaos….

Published: Sun, 05/02/21

Kingston, ONTARIO

At the north-east corner of Lake Ontario, where the St. Lawrence River begins, lies the stately, old colonial city, former capital of Upper Canada, Kingston, Ontario.

Cramming the narrow, old streets, lined with oak and maple trees, are hundreds of vehicles; small trucks, moving vans, trailers and hatchbacks.

For it is at this time, end of April, beginning of May, every year, that thousands of Queens’s University students, living in what is affectionately known as the Student Ghetto, are either vacating or moving into, one of the hundreds of century-plus old houses that surround the campus.

We are here to move our daughter out of, then into, such places.

Because of the imposed lockdowns, many businesses have suffered hugely.

But not all.

We ordered take-out one night from a restaurant that has been in business here since I was a student. (eons ago for those who want to know….)

They are doing well for many reasons, but these few stand out:

They are an authority on quality food. (They have their own cookbook(s), which my wife purchased the last time we were here, close to 20 years ago) Having a book, on your key subject, is the best business card you can have.

They are a premium place. They do not try to compete on price. They basically created their own niche.

When they make a sale – they ask for the next. Included in our bag, were two flyers advertising their Mother’s Day special, 3-course dinner or special brunch package.

They package their offerings (see above) to work.

The only area they fell down on, in my opinion, is that they did not ask for a review with a system that would also simultaneously help them to build a list.?

I imagine too, they have good margins on their food, otherwise, they would not have been able to renovate last summer, during that lockdown. Not understanding profit margins or business financials, has sunk more businesses than bad marketing.

We go over these fundamentals every other week with our live business Academy and Street Smart MBA members. If you’d like to protect and immunize your business or professional practice, then I encourage you to join.

To your health and success!

Hugh

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