by MHolland | Mar 21, 2025 | Business Tips, Selling Tips, Systems
Micro-habits work…
What are micro-habits, you ask? They are tiny ways to get started on setting new habits versus setting Big Goals that never happen. As in, put on your jogging shoes and run in place for 2 minutes versus 30 minutes of exercise as a goal. Or, in business, call one customer a week for 3 minutes.
I use two apps that help me develop habits and fulfill on my goals.
Habit Loop tracker is a terrific app that you use on your phone (funny that we call it a phone, when it so much more than that, right?).
You simply create a habit you want to track, set notifications, and, then, well, track it! For me, a simple personal example is stretching with bands. I set the habit for daily tracking and for 10 minutes.
I know I can do 10 minutes! Maybe 20. Thirty minutes – maybe. Yet every day, that starts to seem like a grind and no fun. I also do 15 minutes of stretching. I would never do 30. You get the idea.
Start small. Because the habit is King. The habit is the goal. It will either be enough, or stretch out beyond the micro habit.
In business, I am singing a tune more and more with my clients of improving only 1%. In four areas. The effect can be wildly powerful.
Here is what I am saying – 1% price increase, 1% savings in Cost of Goods Sold, 1% volume increase, and 1% savings on fixed costs.
For example, a business with $10 million in sales implementing a 1% price increase adds $100,000 to the bottom line. We have not even started on the other 1% improvements yet! The leverage effect is incredible.
Here is a great article from the Freedom App people talking more about Micro-Habits: Micro-Habits With Freedom.
(PS – that is the 2nd app I use daily – the Freedom app. I block websites to avoid distractions and stay focused on – you guessed it – my habits. Habits are King).
Capital Gains Exemption
Here is a good article on recent changes to the Capital Gains exemption for small businesses in Canada: Capital Gains.
Marketing on LinkedIn
Here is a good article on increasing your profile on LinkedIn, a global network with one billion members – Linkedin-7 Tips To Improve Your Company Profile
Have a great weekend, and thanks for reading…
by MHolland | Mar 14, 2025 | Business Tips, Cash Flow, Selling Tips
In the last few weeks, I have written two blogs that were repeats from a few years ago…
These blogs are focused on the first three ways of the 4 Ways to Grow Your Business (any business).
The following is the third part in the series. Enjoy!
What is the 3rd Way to Grow Your Business?
Over the last 2 weeks I wrote about the first two ways to grow your business. Today I am going to write about the 3rd Way to Grow Your Business.
As a refresher – the 1st Way is to increase the number of customers of the type you want. Here the big takeaway is to find out who is serving clients in your industry and create a relationship with those businesses, so you can get direct “warmed-up” access to their clients. This transforms a cold marketplace to a warm one. For the full Blog post, please click here:
Leverage Your Business – There Are Only 4 Ways to Grow, As You Know
The 2nd Way, which I wrote about last week is to increase the number of times (on average) your customers do business with you. For the full Blog post, please click here:
The Best Way to Leverage the Growth in Your Business – Part 2
The 3rd Way to Grow Your Business is this – to increase the amount people spend with you during each interaction (in accounting terms – increasing the transactional value of each sale).
The strategy and the resulting actions you will take are completely different from the first two ways to grow when you focus in on this way.
And, by combining all three together you will have the potential to create massive increases to your Net Profit.
Find the Key Number
First, to increase something, you need to know what your starting point is. For this Key Performance Measurement, it is quite simple and easy to find.
You just take your total sales for the period (month, quarter, year) and divide that by the total number of sales invoices issued to get your average dollar amount per transaction.
Ok, now that you have a starting point…
How do You Increase Your Average Sale Without Sounding Salesy?
One way is creating scripts to use to simply ask your customers if they want to add to their purchase.
Of course, we all know the ubiquitous line from McDonald’s clerks, “would you like fries with that burger?”
And what they know at McDonald’s is that this has a profound impact on the average sale per customer and the net profit.
Another way to view “scripting” is to take the opportunity to educate your customers/clients on all the services/products you offer. Your customers may just not know you offer certain things and will often be delighted to spend more with you because you are adding value to their lives!
In fact, it is the focus on adding value, on educating your customers with a solution-minded intention that moves you from simply sounding “salesy” and mechanical to interested, and educational.
Newsletters are a fantastic way to educate your customers and not only increase your average sale, but to increase your transaction frequency.
Discounting is Bad, But It is Ok When You Do This First
Another way to increase your average sale is to bundle things into packages or offer 3 for 2 specials.
For instance, if someone is interested in cross-country skiing and they have not skied before, they do not come in to just buy skis. They also need, boots, poles, gloves, a parka, a toque…you get the idea. Even lessons.
All these items can be packaged into a beginner cross-country ski package and a discounted price offered for the bundle.
We do not recommend our clients offer blanket discounting across all their product lines as a way to grow sales, however, when bundling, it is ok to offer a reduced price for the whole package.
The reason is that the increased amount they are spending justifies the discount.
Add Value and Raise Prices
Finally, it may be time for a price increase. First you must examine your products/services and ensure that the value you are offering is high and service levels are high in terms of quality, timeliness, and so on.
Most business owners under-value their products/services – looking at them through the lens of their competitors rather than their customers.
Many business owners are fearful of raising prices, yet when they do, they often are surprised to discover that almost no customers leave, and the few that might were often price-shoppers and difficult to deal with anyway.
Case Study in Action
A few years ago, we met with a client to do some strategic planning.
The client was a log home builder, and they built exceptionally beautiful homes.
We went through the 4 Ways to Grow and saw quickly that the only leveraged way to grow was the 3rd Way – increase the average sale of each transaction.
(After all, how many log homes per year would most people likely buy? So, transaction frequency could not easily be increased).
The power of this focused, strategic way of the thinking is that we could rule out the second way and concentrate a lot of our attention on the 3rd Way.
I knew that the owner had outsourced the marketing and sales to another company. I also knew – from observation – that the marketing people were doing very well financially by the amount of time spent golfing, the cars they drove and the commissions in the business being paid out.
This client was giving up a lot of profit.
So, I asked the owner – “why don’t you get your wife to do the marketing? After all she is incredibly good at building websites and could put together a nice presentation.”
His initial answer was, “no way!”
I asked, “why not?” (Good business coaching is asking rocket science questions like this!)
He told us that the marketing guys had an extensive network throughout the USA and that if he moved away from them, he could never, ever replace those valuable contacts they had developed over years and years.
I kept probing and pushing a bit, and he decided to go for it and get his wife involved in the marketing and do it all in-house.
The results were explosive!
The very next year his sales doubled, and his net profit margin hit 50%!! This was an unheard-of net profit in the log home building business.
He sold homes to very wealthy people, including the 4 chalets at the Salt Lake City Olympics.
This volume continued over the next few years, so he became quite well off.
Thank you so much for reading…
by MHolland | Mar 7, 2025 | Business Tips, Cash Flow, Selling Tips
So, the U.S. just hit Canada with a fresh round of tariffs. Great. But instead of panicking, let us talk about opportunities—because there are ways to not just survive but thrive in this new reality.
Remember, the tariffs did not just affect you alone if you sell into the USA. It affects everyone else in your industry. By getting creative, taking massive action (in the right direction), you can grow your business inside this demanding situation.
Many businessowners will react with fear. Fear often leads to inaction. This is where you can take the lead and get proactive.
Oh, and remember this – the Canadian dollar is weak right now. This is bad news for vacations but fantastic for selling into the U.S. market. If you play your cards right, you could come out ahead. Here is how.
Turn the Weak Loonie into a Power Move
With the Canadian dollar low, your products just got cheaper for U.S. buyers. Even with tariffs, you might still be the best deal in town. Make sure your U.S. customers understand this advantage—lock in contracts while your pricing looks attractive.
Sell Beyond the U.S. (Yes, it is Possible!)
The U.S. is Canada’s biggest trade partner, but it is not the only game in town. Trade deals like CETA (Europe) and CPTPP (Asia-Pacific) give you tariff-free access to other markets. Time to explore who else wants what you are selling.
Get Smart About Supply Chains
If tariffs are making it painful to import materials from the U.S., look at domestic suppliers or other international partners. Some Canadian companies are already shifting supply chains to Europe and Asia to dodge extra costs.
Lock in Pricing Before It Gets Worse
If you are exporting to the U.S., now is a great time to negotiate longer-term contracts with customers. Tariffs can change, but locking in deals while the currency works in your favor can help hedge against future cost spikes.
Play the Government Support Card
There is a good chance the Canadian government will roll out tariff relief programs, tax breaks, or incentives to keep businesses competitive. Stay plugged into industry associations and government resources—you might be leaving money on the table otherwise.
Pass Tariff Costs Smartly
If you have to raise prices, do not just slap a tariff surcharge on your invoices. Look for ways to add value so customers do not just see an extra charge but a better overall offering. It is bundling services, improving delivery times, or locking in loyalty rewards.
Cut Costs, the Smart Way
Instead of slashing staff or quality, look at efficiency plays. Are there manual processes eating up time that you could automate? Could bulk ordering save costs? Small tweaks can protect your bottom line without killing morale or product quality.
Work the Trade Rules
Some tariffs have exemptions or workarounds. Depending on what you are selling, you might qualify for duty drawbacks, trade programs, or reclassifications that reduce the impact. A good trade lawyer or consultant can help you find loopholes you did not even know existed.
Bottom Line – Tariffs Are not the End of the World
Sure, tariffs make things harder. But with the right strategy, they do not have to crush your business. Play the weak Canadian dollar to your advantage, explore new markets, optimize costs, and keep an eye on government support.
Lastly, awesome service is, now, more than ever, a competitive advantage. Any business in a tough economy is going to suffer when they do not have awesome service.
Remember this, it is not just the quality of the product or service you sell – it is the process of delivering it that defines awesome service.
You do not, unfortunately, get to define awesome service – your customers do.
And one last-last thing! This is not Canada’s first tariff rodeo—we have survived before, and we will do it again. The smart businesses? They will come out stronger than ever.
Thanks for reading…
by MHolland | Feb 28, 2025 | Business Tips, Systems
The last two weeks I have been writing about the first two leverage points in growing a business – any business!
Leverage Point Number One is getting more customers/clients of the type you want.
Leverage Point Number Two is getting your customers/clients to come back more often. To buy more from you. In accounting terms – to increase your transaction frequency.
This week we will take a break before going through Leverage Point Number Three, and talk about eating the frog.
Nice image, right?
We live is a hyper distracted world. Smart phones, iPads, and laptops are feeding you news, emails, notifications. In other words, distractions.
I use an app called Freedom to block social media, notifications and newsfeeds when I need to focus for long blocks of time.
This month’s Freedom newsletter blogs were great! The first one is, as my title of this blog indicates is – Eat That Frog Productivity Hack
The second blog worth reading is about doing nothing. Doing nothing as a productivity hack to – be more productive. A seeming paradox, yet true. Doing nothing for blocks of time can increase your overall productivity.
Think, less is more.
You can read this great blog here – Art of doing Nothing Productivity Hack
Thanks for reading…
by MHolland | Feb 21, 2025 | Business Tips, Cash Flow, Selling Tips
What’s the 2nd Way to Grow Your Business?
Last week, we explored the 1st Way to Grow Your Business—increasing the number of ideal customers or clients. We discussed the power of profiling your best customers and developing relationships with companies in other industries that serve the same market. This strategy helps turn a cold marketplace into a referral-driven one.
Today, let’s dive into the 2nd Way to Grow Your Business, which is a game-changer if you already have an existing customer base.
Without further ado, the 2nd Way to Grow Your Business is… drum roll please…
Increase the Frequency of Customer Purchases
Once your business has been operating for a few years, you’ve likely built a solid list of past and current customers. Many businesses focus heavily on acquiring new customers while overlooking a massive opportunity—getting existing customers to buy more often.
Find Your Key Number
Before you can increase purchase frequency, you need to measure where you stand. The key metric here is the average number of times a customer buys from you.
To find your baseline:
- Determine your number of active customers.
- Calculate your total number of sales invoices over a specific period (e.g., annually).
- Divide total sales invoices by active customers to get the average number of transactions per customer.
Now, the goal is simple: increase that number.
This approach shifts your focus from constantly chasing new customers to delivering more value to those who already trust and like your business.
Avoid This Costly Mistake That Drives Customers Crazy!
Big corporations often get this wrong, frustrating their most loyal customers. Think of major telecom companies (you know the ones—starting with “R,” “T,” and “B”).
They offer amazing incentives to new customers while ignoring longtime, loyal ones. If you ask for the same deal after 20 years of loyalty, they tell you, “Sorry, that’s for new customers only.”
Even worse, existing customers are often stuck in outdated, expensive plans. The only way to get a better deal? Threaten to leave. Suddenly, they pull out a “retention plan” to keep you—something they could’ve offered all along.
The irony? These companies pour money into acquiring price-sensitive new customers while neglecting their most loyal, high-value ones.
How to Get Customers to Buy More Often (Without Being Pushy)
Now that you know the strategy, let’s brainstorm creative ways to bring customers back more frequently—without being “salesy.”
Gather your team, grab a whiteboard, and jot down every idea. No filtering! A “bad” idea might spark a brilliant one.
Ask yourself these key questions:
✅ Does this save my customer time?
✅ Does this make their life easier?
✅ Does this save them money?
✅ Does this add value to their experience?
Some simple but effective ways to increase purchase frequency:
- Regular newsletters featuring new products/services (especially during slow seasons).
- Loyalty programs that reward repeat business.
- Incentives for off-peak times (e.g., a restaurant offering free desserts on slow Mondays).
- Special events (e.g., a motorcycle shop hosting a local band for a new model launch).
- Expanding your product/service line to offer more value.
- Educational content to inform customers about your offerings.
Real-Life Case Study: How a Business Revived Sales Overnight
A friend’s father was about to lose an anchor tenant in his commercial building. The company renting the space was struggling and considering shutting down.
I met with their executive team, including a group of seasoned venture capitalists who owned part of the business. You could feel the skepticism in the room when I said:
“There are only four ways to grow a business.”
I divided a whiteboard into four quadrants and wrote each growth strategy at the top. Then, I asked a simple question:
“How many customers have you served over the years?”
Their answer? 30,000–40,000 customers.
I followed up: “Do you have a database of them?”
“Yes, we do.”
Then came the question that changed everything:
“When was the last time you contacted these customers?”
The room fell silent. The Director of Sales started fidgeting—then actually got up, realizing where this was headed.
That same day, they mined their customer database and reached out to former high-value clients. Within hours, they secured some of the biggest orders in company history, including deals with U.S. customers.
They went from the brink of bankruptcy to record sales—just by reconnecting with past customers.
Final Thoughts
The easiest sales to make aren’t to strangers—they’re to people who already trust your business. By focusing on existing customers, you can increase revenue without spending a fortune on new customer acquisition.
Next time, we’ll dive into the 3rd Way to Grow Your Business. Stay tuned!
