Net Success For Business

Internet Tools for Entrepreneurs

The 7 Keys to Maximizing Profits.

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Our story begins in 1930. Two young brothers, sons of poor Irish Immigrants decide to leave their native New Hampshire. It was the start of the Great Depression, and there was not much opportunity for the brothers, other than working at the shoe factory that their father managed.
These two brothers, unaware of the incredible success that they would have in a few short years, focused their dreams on California. Where, like everyone they wanted to make their stake on the movie business.
Their arrival was nothing fantastic. After some odd jobs at Columbia Pictures (moving lights, etc.), they started their first entrepreneurial venture, operating a movie theater in Glendale, California. Who would have thought that a movie theater just 5 miles outside of Hollywood would fail, but after 4 years, they finally could no longer afford to pay the $100/month rent that was required.
Their first taste of success (no pun intended, as you will soon see) came in 1937. A short distance from their troubles in Glendale, they opened a small Drive-In restaurant in Arcadia, California.
The Airdrome succeeded at the height of the era, where Southern Californians were becoming more dependent on their vehicles, and wanted the convenience of being able to drive up to the restaurant, order from bellhops, receive the meals and eat in their cars, complete with cutlery.
In 1940, they were able to afford to move the restaurant to San Bernardino, California, expand the restaurant and expand their menu to include barbecue beef sandwiches, hamburgers, and more.
The brothers success came from the first key to maximizing profits…
They identified a HOT TARGET AUDIENCE.
You see, there is no need for a supply if there is no demand. It’s like trying to open a golf course in the Arctic Circle.
During this time the brothers continued to grow their business. They were enjoying massive profits and their restaurant was recognized as one of the most successful in the US.
But…
They realized that times were changing, and they wanted to keep with the changes. World War 2 was coming to a close and, being in a working class community, they knew the war time jobs were going to disappear.
They acted on the second key to success which is…
TEST, TEST, TEST
They identified that 80% of their sales were coming from Hamburgers.
They then dug deep and proceeded with the third key…
KNOW YOUR CUSTOMERS
They knew that their customers wanted affordable food, very quickly.
So they mapped out systems where they narrowed down their menu to be able to reduce their prices. They sold 15¢ hamburgers and 19¢ cheeseburgers, 10¢ fries and milkshakes.
They also created systems where food would be served within 30 seconds.
Gone were the bellhops and the old Airdrome.
They knew the new systems would be able to allow them to work on the fourth key…
INCREASE YOUR CUSTOMER BASE.
They were able to train their staff to focus on the fifth key…
INCREASE SALES PER CUSTOMER.
Narrowing the menu enabled them to benefit from the sixth key…
DECREASE YOUR COST OF SALES.
And in 1948, the brothers, Richard and Maurice, re-launched their restaurant.
McDonalds was an immediate success.
So successful that they constantly had people asking about franchising.
In 1954, they teamed up with their former milkshake machine salesman, and 15th franchise owner, Ray Kroc and developed their franchise system, eventually selling their rights to Kroc for $2.7 million and 1% royalties.
This was the final profit strategy…
BRING IN EXPERTS WHEN REQUIRED.
With over 30,000 locations opened in the last 50 years, there is absolutely no doubt that McDonalds has created the fast food industry.
THEY CREATED THIS SUCCESS WITHOUT ALL OF THE ADVANTAGES OF TODAY’S TECHNOLOGY…
If the McDonalds brothers were to restart today, they probably would have accomplished more at a faster pace.
The inventions of new technology and the widespread adaption of the internet makes it quicker to interact with your audience, to capture their attention and own it.
In the next sessions we will be breaking down the 7 keys and showing you how they can explode your profits with very little effort.
You’ll also learn how to automate many of your processes and earn profits on autopilot.
YOUR GOAL DOESN”T HAVE TO BE TO CREATE A COMPANY AS BIG AS MCDONALDS.
You may want to, you may not…
The truth is that these key strategies are universal and will boost your profits whether you want to have 30,000 locations, or work out of your home.
The only thing you require is a pure desire to make more profits with less effort and an open mind to be able to give up some old habits to learn some new, more effective ways of doing business.
Just like McDonalds is no longer just about cheap hamburgers, and has had to learn to adapt to new “healthier choices” and is even currently reinventing their décor. Your business must grow, update and reinvent itself to ensure that it is constantly connecting the right message to the right customer.
BUSINESS SUCCESS IN THE NEW MARKETING AREA
Welcome to the 21st century…
The explosive growth of the modern marketing tools (the internet and mobile devices) has transformed the face of the world over the last 10 years.
This growth has been faster than even the growth of television, telephone, and the automobile.
More importantly, it has transformed the most important aspect of our lives…
The way in which we communicate.
These innovations have completely eliminated entire markets.
Gone are Encyclopedias and Photographic Film… and virtually gone are Music Stores, Video Stores, Dictionaries, Postal Mail, Brochures, Flea Markets.
Completely transformed are Mail Order, Phone Service, the Entertainment industry, and Retail business as a whole.
Bill Gates gave the most accurate description when he said…
In the future there will be two types of business… those that are on the internet, and those that are out of business.

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Written by petertownshend2

December 31, 2008 at 1:02 am

Posted in Uncategorized

Tagged with , ,

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