Helping a Business Get Up the Hill
Inc.’s legendary columnist Norm Brodsky spent some time talking business with Joe Nocella, founder of the Brooklyn-based 718 Cyclery. 718 Cyclery has established itself as a successful shop catering to the serious cyclist—but its growth has plateaued. Joe’s been searching for a good idea to help him jump-start sales. That’s when Norm came in, to hear Joe out and help him think through finding a new way forward.
Norm: How much business do you do? What’s your gross revenue?
Joe: We’re tracking for about the same as last year, about $1.1 million. Two years ago, it was $1.3 million. So sales have been stagnating—there’s no denying it.
OK. So what percentage is new sales and accessories, and what percentage is service?
We break it up into three parts.
