Seasonal variation is, simply put, the pattern of interest shown by potential students during the year. It’s around this time when we are busy planning for 2015 that we must try to come to terms with this industry-wide issue.
The purpose of this message is to ensure that you take action to stimulate increases in your business every month of the year. Ask yourself the question: will I accept a low take-on of students or will I get out there and market the great services I have, to allow me to generate a greater income for my family.
It’s great to do everything you can to understand market patterns but only if you use them as a guide to taking the right action within your business. The danger comes when you see a low level of interest in certain months and lower your expectations in line with that trend, rather than changing your sales approach to counter it.
Don’t forget that a key objective of your business is to provide great value to your students; so, are you providing upgrade opportunities to existing students as part of your growth strategy rather than just relying on the acquisition of new students – both of these approaches will provide you with additional sales income.
You may be tempted to try to focus on selling products to overcome quiet periods. But do remember one single and important fact: at best, product sales will deliver 50% gross profit to your bottom line whereas every new student and upgrade will deliver 100% gross profit.
So if your goal is to maximise sales and profit don’t allow your focus to be taken away onto areas where you will stand to make less, as this distraction will also reduce your activity levels in the areas that could make you double the amount you make.
Quote of the Week
“Don’t lower your expectations to meet your performance. Raise your performance to meet your expectations.”
Ralph Marston (American Writer born 1955)