I just wanted to share a cool article and some thoughts with you today.
It is about Burger King aquiring Canadian chain Tim Horton’s.
What’s really interesting about this article is that it shows how
much money different companies make in fast food business:
two biggest ones make more than ##2-6 combined.
This is a perfect illustration of the principle of 80-20 that
I talk so much about in the Taxi Business Monthly Transformation Program.
This principle states that roughly 80%
of the effects come from 20% of the causes.
Take the diagram with fast food joints
from the article and replace fast food companies
with your customers or groups of customers and
amounts of money they have paid you
over the years. You will see the same thing:
very few customers/groups of customers
bring in HUGE sums of money compared to
Obviously, you want to treat these groups of
customers differently and when looking
for new customers you first and foremost
want those who are just like your best ones.
If you still don’t know who your best customers are and
want step by step instructions how to do all that, check my
Taxi Business Monthly Transformation Program.
Another interesting fact from the article:
the reason Burger King bought Tim Horton’s
is simple: taxes. According to the estimates,
wiring profits to Canada instead of the US will save the
company 46%. Forty-six percent!
I live in the US, so I am jealous.
As, I am sure, are a lot of folks in the US.
And to all of you Canadians:
you can’t really complain!:)
Here’s the link to the article itself: