Let me share with you a story happened with me many years back. Many years back, I was communicating with one of my customers. And he told me that he is stuck in his business. He told me that he doesn't know how to increase his sales. He told me that the ways and the resources to increase his sales is over. And that's getting us to something we named the sales equation.
So what is the same equation? How can we increase our sales? How can we increase our profit? sales is all about only two things in life. It's all about transaction and averaging. And whenever you want to improve you sales to improve your business, to make more money.
You have to do one of two things. It's either increase the number of reputation of the customer, the frequency of your customers, or increase the average. So let's say once more, you can increase your sales through one of three things. In case your frequency increases the customer frequency, in case the transaction increased the average check through prices or through adding more value to the customers. And the last thing which is a combination of both you can increase the transaction you can increase the frequency of visiting you or the frequency of the need to a product and increase the price of your products. The question is how can we do so?
How can we increase the transaction or how can we increase the average chick? This is what we are going to talk about the next