Product Profile: Uncomplicate Business



I wrote "Uncomplicate Business: All it Takes is People, Time, and Money" because I wanted to help fellow business owners grow and thrive. Below you'll find an exclusive sneak peek of the book. I encourage you to explore the material whether you're a new entrepreneur or are looking to improve your existing business. —Dr. Howard Farran, DDS, MBA, Publisher, Dentaltown Magazine

Excerpt from "Uncomplicate Business: All it Takes is People, Time and Money."

As we've discussed, running a business doesn't have to be complicated if you focus on three things: people, time, and money. Here's an example of a business that missed the mark on the third item.

A new restaurant opened up near my home in Phoenix, Arizona. They had been marketing in my area pretty strongly—billboards, advertisements in the local shopper, and direct-mail cards with "free dessert" coupons. Almost everywhere you turned, something displayed this restaurant's name. I'm a creature of habit, so despite all the advertising, I hadn't really considered going until a close friend of mine recommended it.

I took my family on a Thursday night. It was a pretty place with a pleasant atmosphere, and the food was pretty decent. And the place was bustling. The friendly and helpful staff hurried from table to table, waiting on diners as quickly as possible so they could seat the people who had been waiting up front for an hour. It really seemed as though this place would take off.

The manager came around to my table and asked me how I liked my meal and if I was enjoying myself. I told her everything was great, but that I was curious to know how many new customers her restaurant was getting each month.

She appeared dumbfounded at first, but then she finally said: "I don't know. Probably around fifty?" The woman had no idea.

I just let it go and decided I'd wait and see how things were going with this restaurant in a few months.

My favorite restaurant happens to be located across the street from this place. It is one of four restaurants in my ZIP code that has stayed in business for all 25 years I have lived there. I know the managers of all four, and they know me.

So one night when I was dining at my favorite restaurant, I asked the manager how many new customers he attracts in a month. He said, "On average, about forty, but last month we had forty-two."

When I asked where his new customers came from, he said, "Well, five came from our website, 10 came from a Google ad, 20 were word-of-mouth referrals" … He went on down the list.

This guy didn't even have to check his data. He knew it cold. He even knew how many dollars per head his new customers cost him in advertising on his website, direct mail, Facebook, and in the newspaper. Why? Because he wanted to invest his money where he was getting the most bang for his buck. He was measuring his return on investment. A classic entrepreneur.

Eventually that other restaurant went out of business. When once no one could get in, now no one wanted to go. It was a shame, really, but I saw it coming from a mile away. Management cared more about how its "product" was made than about watching the numbers. If you're not passionate about running your business and watching your numbers, it won't matter whether you're making crowns, pizzas, or depositions, because you won't have a business at which to make it!

Preorder "Uncomplicate Business" now for only $19.95 at HowardFarran.com.


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