This is Killing Your Business, One Silly Decision at a Time.

Originally sent exclusively to The Letter subscribers on September 15th. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.

Convenience is Death.

The question to ask yourself is this: is it convenience for us, or convenience for them?

When I say “them”, I mean your customers.

We look for logic in most things we do – it has moved us forward. But in reality, it’s the illogical that has created the most magical moments in life.

Accountants are logical. So we trust them. But usually, they are rarely super-successful.

Entrepreneurs are illogical, and when they get it right, they change the world - becoming some of the most successful people ever.

The entrepreneur wins because they are sometimes so batshit crazy that eventually those with logic begin to question themselves.

They get behind this force of energy and determination, and realise that maybe this “illogical” approach has some magic worth following.

The logical board sacked Steve Jobs from Apple for his outlandish, illogical visions and his refusal to stick with the status quo - only to bring him back years later when logic had nearly brought the whole thing crashing down.

My bank once sent Sir Richard Branson packing for having too much ambition.

Illogical traits are what many successful people share.

They are prepared to go left when everyone else goes right - on a hunch, on gut instinct - and they treat failure as a welcome friend to learn from.

This brings me neatly to the topic of today’s letter, convenience kills us, and makes us.

Convenience attracts money and customers as we solve problems and pains.

The wheel was invented to make moving bricks easier.

We then trained horses to pull for us. That became inconvenient, so we invented the train. But going to the station was inconvenient, so we invented the car.

Shopping was easier, but Amazon made it easier still.

DVDs got scratched and cluttered our spare rooms, so Netflix came along.

Convenience is something human beings lust after. Most of us are lazy and we crave shortcuts. ChatGPT, anyone?

This is what drives customers - but it can also damage your business if you let your team prioritise their own convenience over your customers.

Hotels want you to check out at 10am. Inconvenient for me - maybe I want a lie-in or to get lucky with the Mrs. Why do they do it?

Because it’s more convenient for them to turn the rooms around before the next guests.

Restaurants limit their menus to keep the kitchen moving, reduce waste, and protect margin.

But as a customer, I get increasingly frustrated by limited choice.

Then there’s relentless cost-cutting. Short term, the wage bill drops and the P&L looks healthier.

But long term? Not so much.

I challenge myself on this all the time. It occupies a big chunk of my alone time; you see why those hotel late checkouts are so important for a man like me!

My leisure and attractions business is being plagued by government tax rises.

I’m constantly looking at closing more days, stripping overheads, and simplifying operations. That’s more convenient for us.

But do customers want to know we’re open every day? Yes. Customers don’t care about our P and L.

We have funfair rides at most of our attractions. Keeping them open all day with team members standing by would be convenient for guests - but we can’t afford it. Instead, we rotate less staff to open rides every half hour, unless we’re sure it’s going to be super-busy.

That’s convenient for us.

The reality is, we can’t afford to do it any other way. If we did, we wouldn’t survive.

It’s like a Rubik’s cube - knowing which way to turn to balance between the P&L and keeping your customers happy.

The solution? Be aware of it.

Every time you change the P&L, every time the "Wagon Wheel" shrinks to protect margin, remember this: it does hit customers eventually. Not immediately - but slowly they move to where convenience lies, either in value for money, time or price.

Ask yourself: when did you last buy a Wagon Wheel? Bet you had them everywhere when you was a kid!

Every convenient move you make for your business risks annoying your customers. Remember it. Forget it, and you’ll die.

I still think the best business at balancing convenience is Costco.

It’s illogical for them to charge the same $1.50 for a hot dog in their restaurant for 40 years.

But the very fact that I - and countless others, make videos, give talks, and write about this, for no financial gain, makes it totally logical.

I’m a raving fan. I go to Costco knowing I won’t be ripped off. My survival brain says: “They can’t be conning me –-the hot dogs are still the same price they were when I was born.”

Innovate or evaporate. Be careful not to make your business more convenient for you than for your customers.

Find balance. Be more Costco.

And remember: Costco’s customers are middle class and up. It’s a good reminder that no matter people’s income, if you stick to your consistent core beliefs, you’ll win.

Be careful with reduced opening times, menu reductions, and cutting ranges.

People pay and keep paying for:

- Price
- Range
- Convenience

And finally, a joke to lighten the mood:

My mate worked at the local funfair. He got sacked for messing around on the dodgems.

He’s now suing the owners for funfair dismissal.

To your continued success,

James

PS. It’s nearly showtime until my next event – In one week I will be hosting our Buying Business Masterclass where I will be diving into how to buy businesses that work, without starting from scratch. We would love to see you there, grab your tickets here! (seats are VERY limited so don’t hang around)