Newsagents often consider the day the sell their business as their pay day, the day they get the return they want for all their work. This is why there is such a focus on goodwill in setting the sale price of newsagencies.
It is unrealistic to look on a retail business as a bank accruing interest which is repaid in the form of goodwill when the business is sold. However, this is how many do view their business. So much so in fact that they lose focus on the profitability of the business on a day to day basis.
Newsagents who focus on every day as their pay day focus on driving new traffic, nurturing sales efficiency and managing for a better margin. These newsagents are more likely to be achieving a higher profit than those who operate as if the day they sell is their pay day.
Of course, higher profit does result in a higher sale price. More importantly however, it puts more money in your pocket from the business every day.
By looking at your business on a day by day basis you will take more notice of employee costs, sales efficiency and other more micro factors and drivers in the business.
You are more likely to make changes if you view sales and profitability data on a daily perspective rather than for a longer period such as quarterly or annually.
Did you make enough yesterday to pay for the rent, employee costs, cost of goods sold, marketing and utility costs as well as to pay yourself? If not, what can you do to change this? If so, did you make enough? By looking at your business as if every day is your pay day, you are more likely to look more closely at your business than if you are focused on the day you sell as your pay day.
If you don’t know how you are doing daily or weekly, you need to put in place manual or computer based systems which enable you to track and report on this. Good or bad, it is information you need to make better business decisions.
So, how did you do today or this week? Make enough to pay all your bills, your employees and yourself? Look on and work on every day as your pay day.
Sorry – closest to topic I could find..
SEQ agents..
It might pay to check with QNP re your delivery deal numbers, people.
We’ve found that, despite having correct data entered in Connect, and having run sheets information given to QNP regularly prior to 12 months ago, those customers have mysteriously disappeared from their database.
We only found this by accident, when a summary of deals was emailed out, in preparation for the CM weekday price rise (I can only assume that’s why they sent it out). Attempts to actually get this information some time ago (when reps changed over) proved difficult and fruitless. Only numbers were given – which meant we could at least somehow manage our account. But no names except for those subscribing to The Australian, or teachers weekend deals.
These CM/SM customers were existing from before our time (some for many years!), and with the run sheet information taken regularly – mainly by our present rep’s predecessor – and I’m at a loss as to where the information went.
I can only guess that, because these customers have always done their billing through us, rather than QNP, if there’s no renewal through them, their names are dropped.
No responsibility or explanation from QNP. The person on the phone really didn’t want to know about trying to find out what had happened, and when.
I’m not really sure now that Connect’s figures are used either. The numbers presently add up, but I’d feel a lot better about knowing how they do, exactly, given what info has been misplaced.
And if our guess about dropping accounts off if they don’t renew directly with QNP is the case, why didn’t anyone let us know?
Y&G, I’m not sure which numbers you are talking about, but I agree that information does seem to disappear or is not used (much like with edi data the mag distributors are not using for supply numbers). We send a weekly update of our data to QN via Connect and we receive a weekly email detailing (with names) the schemes managed by QN (both paid direct to them and paid to us). I check their email against my own list, but I still haven’t figured out how to read the QN invoice well enough to ascertain whether those delivery credits add up. We have found the circulation line to be particularly helpful with some things (like tryng to explain billing, however unsuccessful), but the general consensus is that we should just know these things.
If you are able to understand the billing credits for schemes, Y&G, do you think you could explain them to me sometime?
Wendy 07-3848 3594
not even God himself can read or understand the invoices from fairfax or news lTD.
does anyone understand QN bills ?> i have no idea on what half these codes are . i just make sure my return credtits and supplys are correct the rest i have no idea . free papers there delivery fdees here school papers more delivery credits tab papers direct supply credits .It would have to be the most rediculous bill to try and read
Phew and here I thought I was all alone in my non-understanding. Amen Peter and shauns!!
😀 I never said I could understand the bills LOL
But it looks like we’ve been getting at least the correct number of HDs credited.
What really is confusing at the mo is that, while Connect doesn’t reflect reported shortages through the week, and they don’t show up on the bills in logical places, apparently the following week/fortnight they show up as ‘backs’. Prior to that, with the numbers seemingly adding up there, we thought ‘backs’ were for extras taken from the drivers who deliver the Melbourne papers once they’ve landed at Cooly. They also apparently mean they’re credits from previous weeks. Turns out, according to someone (whoooo????), they can also mean credits from previous weeks’ shortages.
Trouble is, nobody is able to explain it all to us satisfactorily – and if they do get back to us, it’s usually after we’ve had to pester them for information.
Aah, what clever all-rounders newsagents are. Cypher-games, yet another string to our creaky bows.