Earlier this week I blogged about the competition the Trading Post is running in Victoria, offering $1,000 for the best idea from a newsagent on how they would spend the $1,000 on the business. I said at the time in response to a comment that I would not post my ideas because I wanted to see the ideas my own teams put together. Since the teams are settled on their submissions, I thought I’d share one of my ideas for spending the $1,000 from the Trading Post.
I would see how far I could stretch the $1,000 by using it as a motivator to get jobs done which require labour, which have been put off and which would add to the business. I’d focus on small projects in the business which help improve efficiency or sales. For example:
- The wall above our magazine units – up to the ceiling – looks tired. We would paint this. The paint would cost $100. The labour would be free.
- We could create another small 50cm x 50cm slat-wall display at a second counter position for impulse magazine and other displays. The materials would cost $150 properly finished and we could install this ourselves.
These are two example of how we could stretch the $1,000, improve and the business and generate revenue from the investment.
I’d look for small projects like these which have been put off and which have a labour component – and thereby I get to stretch the value of the $1,000.
I have other ideas but these two are where I would start.
