If you have breakfast at a McDonald’s, you can learn two important things. First, they now serve breakfast all day. And second, to quote the New York Times, “All-day breakfast drove the fast-food giant to a third straight quarter of positive results.” More specifically, “McDonald’s reported a 35 percent increase in profits…Propelled by its decision last fall to sell some breakfast items all day.”
However, perhaps the most important thing you can learn is what I have been preaching for years: All you need is a good idea. That’s the name of my book, my blog, my Twitter account, and almost the name of our puppy (we settled on Lulu). I have always maintained that the most important, most effective, most economical element of a marketing plan is the power of a good idea.
McDonald’s daylong breakfast is a wonderful example: Hmmm, let’s see. We could increase our sales force, raise prices, create some new items, serve two fewer French fries in each order. Or simply offer breakfast all day. Egg McMuffins and hash browns at 6:00 p.m.? Yes!
Is there something equally as simple that you might do to build your business? You’re probably not a restaurant, so expanding your menu isn’t the answer. And the idea needn’t be time based, such as opening up one hour earlier, or offering a guaranteed delivery time. But the good idea is probably standing right there, staring you in the face. But as obvious as it will seem—once you think of it—the tough part is getting past the invisibility of the familiar. And while you’re trying to come up with your good idea, guess where I’m going for breakfast tonight?