Maria Musgrove-Wethey from Get Savvy Academy discusses The Big Domino and how this concept can propel your business forwards.
Domino’s pizza restaurants make it happen with the X-large Brooklyn Style pizza. Their whopping 16-inch pizza feeds five to six of the most enthusiastic eaters. Just as Domino’s can "make it happen" with their Big Brooklyn Pizza we can make it happen in our businesses if we understand the concept of "The Big Domino".
It has nothing to do with Brooklyn size pizza and everything to do with business. This concept was introduced to me by my Get Savvy partner Christine Skilton who was introduced to it by Russell Brunson who, in turn, was introduced to it by Tim Ferriss. So what’s the story here?
Christine was a member of the 2 comma club Coaching Program (2CCX) in 2018/2019 created and run by Russell Brunson, marketing expert and New York Times Bestselling Author and Co-Founder of Clickfunnels. As part of the programme Russell teaches about limiting beliefs and the Domino effect, alongside strategies to run and scale a highly successful business. With a net worth over $40 million and almost a million followers on Instagram we can safely say that he’s a reliable source!
Secret #12 in his best-selling book ‘Expert Secrets’ is The Big Domino. He explains that it was Tim Ferriss (one of Fast Company’s “Most Innovative Business People” with a net worth of $100 million) who discussed this at a Genius Networking event. He said that reporters often ask him "What does a day in the life of Tim Ferriss look like?" He continued with “I always tell if people actually saw my life, they’d be really bored. I wake up in the morning and I drink some coffee or some tea, and then I sit and read a book, and then I think. I’ll sit there sometimes for days or weeks, or sometimes even months just trying to identify what are all of the dominoes out there, and then what’s the big domino that if I knock down that domino, it’ll knock down all the other dominoes or make them obsolete.” He concluded “Because of that, I don’t do a lot of stuff, but when I do something I execute on it perfectly and it’s this huge thing.”
Many of us in bridal hardly get time to finish a cappuccino let alone finish a book. So you might be wondering why I’m talking about this highly successful entrepreneur who inhabits a very different world to our bridal bubble. This idea is about taking time to work out what the things are that we need to do both small and large that will make a difference in our businesses and if we can come up with just one Big Domino it could make a big difference.
I can’t help but wonder if Wed2B did this when they launched their first off-the-peg retail store? Many bridal boutique owners mistakenly (or optimistically) thought that brides wouldn’t want this as they want ‘The Experience’. 59 stores later across the UK and Europe I think we can say that a big proportion of brides will happily trade experience for convenience and cost. As Tim Ferriss said, “Finding that one big domino can knock down all the other dominoes or make them obsolete”.
I’m not suggesting that by finding your Big Domino that you will expand to 59 stores like Wed2B or make millions like Tim Ferriss or Russell Brunson, but just think about what an increase of 10% might mean on a turnover of £200k? That £20k might make the difference between you being able to take home a decent salary, take on an employee, take a holiday, or even move to a different location.
I discovered my Big Domino completely by accident as a result of Covid. Before Covid we only charged a booking fee of £25 for Saturday appointments. Upon reopening in June 2020, we made the decision to increase the fee from £25 to £35 and charge for all bridal appointments. The result was that it added over £10k to my turnover and pays a part timer’s salary. This doesn’t qualify as a Big Domino.
What is the Big Domino is that when we only charged for Saturdays we would get brides defaulting to a free appointment during the week. These brides hardly ever bought and we were just being used as a very expensive dressing up facility. When brides needed to pay to come in the number of appointments decreased whilst conversions and average spend increased and both turnover and team morale increased. A win win thanks to our Big Domino!
Back to how to work out your Big Domino. Russell Brunson sums it up in his January 2020 podcast saying, “You should look at your business from a different lens and frame of reference in order to be able to find the answers you’re seeking”.
If you’d like to find out more about how Get Savvy can help you to answer the question, “What’s the Big Domino that’s going to propel your business forward?” then visit the Get Savvy website here. There you can find out more about how we can help via our membership group, one to one coaching, or our sales training which can be delivered either in house or via buying the online version ‘Selling Secrets’.