The Perfect Business Framework

Following my posts, you may already know how to develop the perfect business or brand idea.

However, if you need more help or guidance, please continue reading –

The first Framework is this – the more your business is designed for PCRs (persistent customer returns), the more likely you will be successful.

What is PCR? I’ll explain –

Yesterday, I went to get female bags somewhere in Lagos.

I bought about 4, and the total price amounted to around N84,000.

Then, when it was time to package it, that was when the mistakes started to happen –

One, it was put in a BAG branded with the logo of the bag’s manufacturer.

I was a little surprised at this, considering that this shop was supposed to be a big brand themselves, and here they were – nudging me to google their manufacturer.

They printed out the POS slip but received no receipt. No sign of their brand anywhere (Remember – familiarity?).

The second mistake;

I was expecting a nudge to make more purchases later; all they needed to do, as I was leaving, was to give me a Voucher to claim a discount within the next seven days, and I would have been back in 7 Days.

Well, they didn’t.

You get the drift now, right?

You need to engineer repetition in your process, and every significant business does this.

Apple sells devices but launches new ones every year – including all the accessories & Apple Music, Apple Cloud, etc. Repetition.

Coca-Cola gives out distribution rights to depots. Repetition.

Long-lasting business is FOCUSED on repetition of purchase. For a durable brand, you need repetition of purchases or PCRs (persistent customer returns) and NOT one-off purchases.

I know what you may be thinking: there is no way my business can have PCRs (if you say this, then you need to know your business better).

There is ALWAYS a way to engineer PCRs into your business – even if you do NOT see it now.

Which brings us to framework number 2 – Sell Shovels. They have an inbuilt repetition in them.

In every gold rush, there is a shovel.

I know a guy who makes a ton of money by importing papers! On the surface, you may ask, ‘’How is that possible?’’

Until you realize that in 2022, there were over 3.8 billion POS payments.

In 2023, Nigerians had transaction values totaling N862 billion on POS alone.

…and as this happens, guess what you need for receipts?

Papers!

Every industry has its shovels.

Find it. Start a business around it – naturally, people would need it OVER & OVER again.

What is the shovel for Internet marketing? – Funnels. Guess who built it (You know who).

What is the Shovel for the Oil Industries – Rigs. You would not believe the amount of money that can be made in purchasing and selling rig equipment.

This is why, instead of hair, Rihanna sells hair treatments (this is the shovel to the millions people spend on wigs yearly).

If you find the shovel, you find PCR.

However, this does NOT mean that you are out of the game if you do not sell shovels. Assuming that the bag shop had given me vouchers…or a customer card, I’d have been back.

Find ways to put PCRs into your business if you cannot sell shovels.