The 5 Mile Radius Rule for Your Local Business
Using Your Profit & Loss to Determine Your Hourly Wage
June 6, 2019
RANT – Why You Need to Know Your Dang Numbers
June 13, 2019
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Focus on a Smaller Area to Earn More Profits
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Episode 266 – The Local Small Business Coach Podcast
The 5 Mile Radius Rule for Your Local Business
So how far do you search for business? Do you travel 5 miles? 10 miles? Up to 50 miles? What if I told you that the vast majority of your business should be coming from within a 5-mile radius? Most neighborhoods have thousands of potential customers within any 5-mile radius. The key is to focus on solving a pain point that many of the folks in that area are searching for.
Too often we try and shotgun all over the place vs using a sniper rifle in a small area. By going all over the place, you are costing yourself profit by wasting time driving all over the place. Once you back out your drive time and costs, you are making less than you thought. This is time you could have taken a closer job making more money.
In this episode, we take a deeper dive into why this is an important concept and when is the best time to go beyond the 5-mile radius rule!
Listen below.
Tammy
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