What is the Value of a Customer?

What is the value of a customer to your business and just how do you calculate it? It really depends upon your Business Model but let me give you an example from the Pharmacy business. Retail Community Pharmacy Example In my area the average customer purchased 6 prescriptions per month at an average retail value […]

Big Business is not always smart business

The successful entrepreneur asks one key question every day at every opportunity. How can I get this done without spending any of my own time or money? As a corollary to this essential theme, the follow-up question is, if I have to spend my resources, how can I: Spend as little as possible Spend someone […]

Successful Business Practices Tip #2

Provide Value to the Customer The product or service that your business sells must add value to the customer or it will cease to exist. This value can be financial, emotional, and spiritual or anything the customer perceives to be important. If you are not sure what I mean then just think about this for […]

Successful Business Practices Tip #1

Focus on Value Not Profit Focus your daily decisions on the creation of value for your stakeholders not on profit for your business. This may seem counter-intuitive but the most profitable businesses focus on value not profits.  A Profit Mindset Leads to Loss If every decision, every action, and every direction that you choose is […]