Have you ever wished there was a money tree growing on your business property? Unfortunately, the seeds to a money tree have not been discovered, but you do have access to a powerful combination that will lead you to increased business profits.

Are you willing to spend two hours a month at your favorite coffee shop in a business strategy session? If yes, then keep reading for the details you’ll need to turn this meeting into more money for your business.

Marketing System & Goals
Your marketing plan is the first component needed when you sit down with your favorite hot beverage. Yes, it is important to have a plan for marketing your business services. Otherwise you are relying on “hope” marketing, which is much like visiting a casino…you may hit a jackpot or you could lose everything.

Today’s digital focus means effective marketing is relatively low-cost, but does require time and planning. Your primary focus should be on building a large email list of both customers and prospects. It is important to segment your list between those that have done business with you and prospects that know about your business.

Another important focus is building a strong social media presence with Facebook, Twitter, Instagram, Pinterest or wherever your customers and prospects spend their time. Social media provides instant access to market your services strategically so it is definitely worth the time invested.

Focus the majority of your social media posts on providing quality information that your market can use to improve life with their pets, pet-related entertainment and highlighting the fun and great care you provide daily for pets. This sets the stage for strategic service marketing posts that we’ll get to later in the article.

Financial Reports
The reality of being a business owner is that financial reports are key to maximizing your profits. For this strategy session we are going to limit you to one key report and three key performance measures. Have your bookkeeper provide this information to you for the session and keep reading to learn how to quickly review your reports.

The most important report is your monthly Profit & Loss statement, but just reviewing numbers from last month is looking at history. Our powerful combination is focused on improving future results so have your bookkeeper provide a Profit & Loss statement that compares actual results to your budget. If you don’t have a budget (put that on your “to do list”) then get a report that compares last month’s results to the same month of the prior year. Another very important aspect is to have your income split between the key services you provide in the Profit and Loss report.

The key performance measures you should review for your business monthly include:

• Occupancy for each key service (boarding, daycare, grooming)
• Pet visits for each key service
• Revenue per pet (total revenue by service divided by visits)

Bring these reports to your monthly business strategy session. Ideally your strategy meeting will be held the first two weeks of the month so ensure your bookkeeper has a deadline to finish all bookkeeping tasks promptly after month-end.

Your Powerful Combination
Now it’s time to head to your favorite coffee shop for a beverage. It is important to have this meeting away from your business and to turn off your phone. As a business owner, these two uninterrupted hours are time you need to maximize business profits and your own pay. It’s also a great exercise for your staff to learn to make small decisions without you, so just do it!

Start by reviewing your Profit & Loss statement, noting which service areas of income performed better than budget or last year. If you know why, make a note on the report. Next, review income areas that fell below budget or last year. Again make a note as to the reason. If you are not sure of the reason, then put it on your “to do” list to figure out. Ask your accountant to help you if you are not sure how to start the analysis.

Next look at your revenue per pet data for each service area. How closely do they match up to your full price rate charged for the service? If there is a big difference, making an analysis of your discount programs should be put on your “to do list”. Also ask your accountant to help you calculate your profitability for that service area.

Now look at your occupancy numbers for each service. Where do you have capacity to increase sales? Do you expect the current occupancy numbers to repeat next month or even over the next three months? If yes, then this is the service you want to target in your short-term marketing plan if it also fell short of budget.

Focus on this service in the current month’s email communications and social media posts. Be sure your clients are aware that you offer the service and consider offering an incentive for clients and prospects to try it. You may want to create separate offers for existing clients versus prospects and with a segmented list it’s easy to customize for each.

One great aspect of social media is you can offer the incentive as a fun contest and control the amount of free or discounted services you give away. It may even make financial sense to offer short-term discounts to many clients, but be sure you know that the service will still be profitable to you.

Next month when you have your strategy session, first assess if your targeted marketing campaign was successful; did your income and occupancy for the service increase? Did business profits also increase? If yes, then celebrate your success. Then repeat your review process and consider selecting a different service area for focus next or try a different incentive offer for the same service.

By using the powerful combination of actual financial results with your marketing system you will increase your business profits. Prioritize this time away when you can work “on” versus “in” your business. Most importantly, reward yourself with your favorite hot beverage treat and it may not even seem like work. You will definitely enjoy the results of increased profits!

Susan Briggs provides business management and training resources for the pet industry. Check out her FREE reports and other management tools at: www.CrystalCanine.com. As “The Dog Gurus,” Susan and Robin Bennett’s mission is to improve safety in the off-leash dog play industry through our membership site at www.SafeOffLeashDogPlay.com. Susan’s career in the pet industry began as co-founder of Urban Tails, a large multiservice pet care center in Houston, Texas. One of the first cage-free sleepover and dog daycare centers in the country, Urban Tails evolved into a training resource for pet professionals on safe daycare operations. Staff training is a passion for Susan resulting in development of Crystal Canine, a consulting and training resource for the pet industry (www.CrystalCanine.com). In 2008 her first book Off-Leash Dog Play: A Complete Guide to Safety & Fun, co-authored with Robin Bennett was published. She is also author of Counting Noses, the only accounting and financial guide customized for the pet industry.

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