Yes, just five percent

Most of us would agree that five percent is not a big amount. From a dollar it is a mere nickel – 1/20th of a full dollar. In fact if a sign were to boast “5% off – today only” we would likely laugh!

However, I have learned that five percent can be a very powerful amount when used correctly. I have used it in my business over the last year and the result has been incremental!

No, I did not offer a five percent discount. What I did was take on five percent more responsibility for my success in my business – and built on it.

You see, the problem with us making changes in our business – or our lives for that matter often seem difficult because we make a decision like “I have to make $20,000 more dollars this year to cover expenses. “ And a thought like that can be debilitating.

Our mind immediately begins to argue with us telling us – that it is impossible and we may as well give up now while we are ahead!

But if we think about this differently – take simply five percent more responsibility for ensuring we earn more it only means making one small change – each time we make a sale. What might this mean in the sales or purchasing for sales process?

• Up sell one extra item to every client
• Bundling ‘slow moving’ items with others to reduce inventory
• Ask for a referral and offer an incentive
• Reducing order frequency and increasing order size to reduce shipping fees
• Search for a distributor with lower prices
• Buy in bulk to reduce costs
• Buy specials if they are what you would normally buy
• Asking for discounts when purchasing

Each of these activities in and of themselves will have very little significance on your profit. But choosing to enact one of these activities daily will add up to massive gains over a year.

Five percent is manageable change. In truth it may be the smallest percentage that pushes you over the top to success!

What will you do today to take 5% more responsibility for the success of your business?