Over the past four years much attention and effort has been placed on cutting all sorts of costs in all segments of our industry. Labor, utilities, rents, mortgages,capex have all been under the microscope since the Autumn of 2008. The carving knife has been applied to all of these costs. What have we done for revenue?
Unlike cost cutting which shows immediate results, revenue growth is more challenging. Marketing, advertising, relationship building require constant, patient attention. One email blast or direct mail piece will not get our phones ringing or customers coming through our front doors. Hence, we lose faith, get discouraged and look to cut more cost.
Let’s be more persistent. Let’s look at more markets. Let’s followup on quotes, calls, letters, emails. Let’s connect with our current and potential customers. What we begin now and maintain throughout the year will bear fruit in due time much like the gardens we will soon be planting at home.