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Are You Creating Great Value For Money So Your Business Will Grow?
Value for money is vital for success in business.. After years running my consultants practice and turning businesses round I find my business instincts come to the fore in some unusual situations. We are just back from a short half term break with our three grandchildren. It's the first time we have taken on all three together and was tiring but fascinating. Some friends allowed us to use their apartment on the south coast. The apartment has two large sliding windows leading to balconies that overlook the bay. We quickly noticed a small ferryboat crossing the bay at what seemed like 30 minute intervals on a journey which was about half a mile. This went on all day from dawn to dusk every day. The frequency is what made my mind start consulting. From our side of the bay we could look over to green fields and a nice looking pub on the far side. Out at sea we could view large tankers, liners and some military craft. All of this activity attracted the attention of the children who wanted to go on the sea and of course to the beach. We decided to take a ferry ride, go for a walk and have a nice leisurely lunch at the pub. As a business proposition I had been interested in the activity level of the ferry and it's loading. Over a full day on all journeys it seemed to carry a good load of passengers but was never full. So was it viable? Deciding to take the trip we boarded and paid, for two adults and three children the cost was less than 4 dollars each way. Great value for money. The boat is in good order and the crew were helpful and friendly. The children loved the trip. Clearly someone has assessed the demand, set the frequency and got the pricing right. Giving good service and value for money. We all enjoyed the walk, enjoyed the pub lunch even more and spent a couple of hours skimming flat pebbles and searching for unusual seashells before we sailed back. I would have paid much more for this pleasant day with my grandchildren and still have felt it was good value for money. As it was we all enjoyed the experience. In our businesses we need to be sure to over deliver giving good value for money by remembering that the feeling of the experience for the customer counts as much as the pricing. This how to achieve real value for money. Tip; If it's worth doing it's worth overdoing.
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