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Great Networking & Advice for Small Business Mackay

By | First Published: | Last Updated: 18 May, 2022

On Friday 11 February I had the pleasure of attending a Business Networking Breakfast in Mackay (at the wonderful the Mackay Entertainment & Convention Centre).

Owners and staff from several businesses in Mackay Qld (and the wider regional area) gathered to network and learn!

Not only did I meet some great people with their own small businesses in Mackay:

I also loved listening to the guest speaker, Wayne Grundon, and his business growth formula.

Wayne’s 5 Steps to Small Business Growth for Mackay Businesses

Here is what I learned from Wayne. You can increase your Mackay business by working on a 10% increase in 5 different areas.

  1. 10% increase in leads to your business
  2. 10% increase in conversions
  3. 10% increase in transaction size
  4. 10% increase in repeat business
  5. 10% increase in prices (or profit margin)

1. Business Tip #1 – Generate a 10% Increase in Leads

A lead is potentially interested in buying your product or service. They may walk into your store, contact you via email or ring you up.

Digital marketing and effective website design can help you increase your leads.

  • Digital marketing helps to drive traffic to your website
  • Web design principles such as the visual hierarchy

Other ways to get more leads include:

  • Referrals
  • SEO (Search Engine Optimisation)

2. Small Business Tip #2 – Convert 10% More Leads into Customers

Not all leads become customers, so the second way to grow your Mackay business is to increase the number of leads who do become customers by 10%.

How can you do this?

  1. Reduce apprehension (e.g., guarantees, testimonials, payment options)
  2. Offer great things (service, product range, unique niche products)
  3. Use scripts and funnels in both your verbal and written offerings

3. Find your fries to add 10% to each transaction

Some of you may not be old enough to remember this, but before McDonald’s started to offer boxed meal deals, they were famous for training their staff to say one line. That line was, would you like fries with that?

They said it to every customer and their average transaction size increased substantially.

You need to find the fries for your Mackay business and consistently offer it to all your customers. By doing so, you aim to increase your transaction size by 10%.

4. Grow Your Repeat Business by 10%

The easiest, but often untapped source of business is repeat business.

It is why businesses from hotel chains to local pizza shops send you emails with special offers. And why other businesses offer loyalty programs.

What is right for your business will depend upon your customers and what they value.

But growing your repeat business by 10% is vital.

5. Increase Your Prices (Profit) by 10%

Many businesses don’t plan for inflation or increased wages. But increasing your prices (or at least your profit) by 10% was the last key strategy discussed at the Mackay business networking breakfast in Mackay last week.

The simplest way to increase your profit per product or service is to increase the price of that product or service.

But other ways you can do it include:

  • Reducing your expenses
  • Making your process more efficient
Business as Usual74% Increase in Profit
200 leads10% More Leads
220 leads
70% Conversion
140 customers
80% Conversion
176 customers
No fries
$100 per transaction
$14,000 in sales
With fries
$110 per transaction
$19,330
No repeat business
Still $14,000 in sales
10% or 18 repeat customers
$21,310 total sales
Existing profit margin 70%
$9,800 profit
New profit margin of 80%
$17,048 profit

Wayne’s Business Advisory Services

Wayne is part of the Entrepreneurial Business School, a Qld based firm that offers:

  • Business Advisory Services
  • Business Coaching
  • Kickstart Programs

Mackay Regional Council Support

Other than providing the venue, the Mackay Regional Council offers other support to local small businesses:

Mackay Mayor Williamson said small business owners are the backbone of the local economy.

“Small business is a cornerstone of the wider Mackay economy and community, making up more than 96.9 per cent of the region’s businesses.”

Mackay Mayor Greg Williamson

Help for Others

I found the event very useful and I hope other small businesses in Mackay find this helpful.

Some Other Networking Opportunities in Mackay

If you own a small business in Mackay, you may want to consider joining the following networks:

Of Course, Mackay is Not All About Business

So many people offer care and support in Mackay. As one example, read my personal testimonial to the wonderful people at the Mackay Base Hospital.

A Personal Shout Out!

Here is a personal shout out to some of my favourite small businesses in Mackay:

shaun killian profile picture.jpg

SHAUN KILLIAN

Shaun Killian (me) is a small business owner, who is passionate about helping other small businesses succeed. He has been working with website design since 2008. He is also an expert in digital marketing, including SEO, content marketing and email marketing. In a former life, Shaun was a school teacher and principal before a heart transplant and bilateral leg amputation led him in other directions.