Book Quote of the Week 163

Be the person you “could have been” now!

Darren Hardy

Mortar Makes it Happen

Today I’d like to talk about the three keys to business development and how you can put the right bricks in place to build a solid foundation.

There are three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

If done well these three areas will help you build a solid foundation for your business. Let’s talk about each one of these for just a minute.

Innovation

Innovation should not be confused with creativity, which is the expression of ideas. Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be in the beginning and even throughout your business’ entire lifespan.

Quantification

This, of course, refers to the numbers. We are talking about the value of your innovation. The best way to gauge this is by your customer response. Look to positive responses for what you are doing right and keep doing it. Look to your negative responses to find out what you’re doing wrong and fix it. This will enable you to keep growing and progressing with the needs of your customers and business climate.

Orchestration

Once you’ve had a chance to find what areas are working, you can narrow down those areas and concentrate on making them stand-out ideas. You shift your focus here to get the most out of your business and to meet the needs of your customers.

We can help you work through these three areas to put together your franchise prototype during your GUIDED TOUR.

In the next few lessons we are going to transition to the 7 specific areas you need to consider in your franchise prototype process:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

These 7 areas will fine turn your plan for the ultimate level of success.

Expand the Life of Your Business

Today I’m going to talk about the life cycle of a business and how to get the most out of each cycle while also extended the lifespan of your business.

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

We’ll talk a little about what each of these cycles means and how they can each help expand your business’s lifespan.

Infancy

This is generally considered the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and new baby. There is an impenetrable bond that is necessary to determine the path your business will follow.

The key is to know your business must grow in order to flourish. You cannot stay in this stage forever.

Adolescence

In this stage, you need to start bringing your support staff together to delegate to and allow growth to happen. The first line of defense is your technical person as they need to bring a certain level of technical experience. This cycle really belongs to the manager though. The planning stage needs to start and a relationship should be built with the entrepreneur to plan for the future.

Growing Pains

There’s a point in every business when business explodes and becomes chaotic. This is referred to as growing pains. It’s a good problem to have, but a problem nonetheless. You are often faced with a number of choices:

  • Avoid growth and stay small
  • Go broke
  • Push forward into the next cycle

Maturity

The last cycle is maturity, though this doesn’t mean the end of your business. Your passion for growth must continue in order for your business to succeed. You need to keep an entrepreneurial perspective in order to push your business forward.

You see how all three of these cycles are connected and depend on a strong foundation for each one of them for your business to be and continue to be successful. All three of your key roles must also work together to work through these cycles.

If you’re having trouble putting together your business life cycles and figuring out which of the key roles you fit into, try our GUIDED TOUR and work with one of our amazing coaches.

More Leads – Joint Ventures

Chapter Two from my book, “45 Minute Business Breakthroughs,” to download a copy of the entire book you can do that HERE

Do you currently have any established joint venture partnerships?

JV’s involve two or more businesses who decide to form a partnership to share markets or endorse a specific product or service to their customer base… usually under a revenue share arrangement. The key to creating successful joint ventures is to find partners who service the exact same type of clients that need or want what you sell.

Let me give you an example and I’ll use one we’re both familiar with… a florist. One of the most financially lucrative product lines for a florist is providing flowers for weddings. The average floral bill for a wedding often exceeds $3,000. But what we discovered about florists is they fall into what we refer to as an “event chain.” An event chain simply refers to a series of businesses that customers purchase from in a specific sequence.

For example, a wedding will never take place until an engagement ring is purchased from a jeweler. So jewelers are at the forefront of every wedding chain. Once the young lady accepts that engagement ring, this event chain kicks into high gear. First, this young lady knows EXACTLY where she wants to get married, so number one on her agenda is to book the church, chapel or synagogue where she wants the ceremony held.

Second on her list is to line up her wedding planner. Weddings today are a really big deal, and often women like to use the services of a professional wedding planner. Next up, she wants to secure the venue for her reception.

She knows most venues book out months in advance, so locking in that venue is high on her priority list. After that comes the wedding dress, so she begins the search for the perfect dress at an affordable price.

Next is our florist. The bride-to-be will want to begin selecting her floral arrangements for both the wedding and the reception. Then after the florist comes the wedding cake… the printer for the invitations and thank you cards… and depending on the financial ability of the bride to be, she may also be interested in hiring a limo… a DJ for the reception… a travel planner for the honeymoon… the hotel… catering and so on.

This event chain is typical of this industry. And for the florist, it specifically identifies a multitude of potential and very lucrative JV partners. But here’s why this becomes so important.

Every business ABOVE the florist has the potential to ENDORSE and SEND prospects to the florist. Unfortunately, the florist has NO control over that flow of prospects. Every business above the florist controls the JV relationship, so it’s critical the florist create such a compelling offer and relationship with these businesses that they feel obligated to send prospects their way.

But here’s what’s even better. The florist controls the prospect flow to ALL the businesses BELOW them in the chain, and by establishing specific processes and procedures to make sure their customers use those businesses, the florist can negotiate compelling offers with those business owners as well. So consider these numbers.

Let’s say this florist cultivates a JV relationship with at least one of each business throughout this entire chain. Staying ultra-conservative with our estimates, would you agree this florist… since they have NO control over the flow of prospects from these businesses… is it likely they could obtain at least ONE referral each month from just one of the businesses above them?

OK, would you also agree conservatively that since the florist controls the flow of prospects to the businesses BELOW them… that they could easily send at least ONE referral to EACH one of them every month? Keep in mind these are VERY conservative estimates we’re using here.

Since the average floral bill for a wedding is $3,000… then just ONE referral per month from those businesses ABOVE the florist increases their annual revenue by $36,000. Now let’s consider the businesses BELOW the florist where the florist controls the referrals. Let’s start with the wedding cake maker.

The average sales price for a wedding cake is also $3,000, and the florist could easily negotiate a 10% referral fee. So, just a singlereferral per month produces an additional annual increase of $3,600 for the florist.

Now consider the printer. The average sales price for printing is $1,000, and the florist again could receive a 10% referral fee, so that single referral per month produces an additional annual increase of $1,200.

If we stop there, this florist has just increased their annual revenue by more than $40,000… and that’s using ridiculously conservative numbers. Imagine if you continued to add up the revenue produced by all the additional referral fees the florist would earn from all the other vendors in this chain.

This same process holds true for businesses that aren’t in a chain. But just like the florist, they simply identify partners who service the exact same type of clients that need or want what they sell. Now I realize this looks easy, but it’s not… and here’s why.

You not only have to properly identify who would make an excellent joint venture partner for your business… but you also must determine the order to approach each one… how to approach them… and when to approach them. It’s critical you do this properly or you wind up burning through all of your potential JV partners and come out with nothing in return.

Let me ask you a quick question. Just off the top of your head, how many potential JV partners would you estimate might be a fit for what you sell? Would you believe that I could identify more than a dozen for your profession? So conservatively, how many referrals would you estimate might be possible if a dozen other businesses were compelled to refer their customers to you for additional purchases?

Conservatively, let’s say you only get 3 referrals every month that buy from you. That’s less than one per week. How much additional revenue would that add monthly? Now multiply that by 12 to see your annual revenue increase.

One more thing before we move on. Remember earlier we discussed the critical importance of creating a highly compelling informational offer that would promise so much value to prospects that they would knock your door down to get it?

Suppose the florist offered this informational offer in their marketing, “5 Things Every Bride Should Know to Avoid Disaster on Their Wedding Day”. This offer would place TONS of prospects into their drip campaign and result in a tremendous increase in sales. Those new sales can then be referred to their new JV partners and they collect multiple referral fees every month.

This would absolutely dwarf the revenue we just uncovered for the florist in this example. What I find really exciting about JV’s is this is a strategy I help my clients implement immediately… and it begins generating instant cash flow for them right out of the gate. 

In a recent case study I conducted, I found $75,000 in additional annual revenue just using the JV strategy.

And again, that’s revenue that business will generate year after year after year.

$75,000 in additional annual revenue increases the valuation of that business somewhere in the range of $225,000 – $300,000.

This article was taken from my book, “45 Minute Business Breakthroughs,” to download a FREE copy of the entire book you can do that HERE.

If you would like to explore other options of how I can help you take your business and your life to the next level, find out more about my one-on-one coaching programs by clicking HERE

Another option to consider is our online business coaching program. The E-Learning Marketing System is the most powerful and dynamic do-it-yourself client attraction program ever created. It was designed to give every small business owner unrestricted access to the tools, resources and support they need to build whatever size business they want. Check out our FREE Guided Tour to find out more about the E-Learning Marketing System by clicking HERE

More Leads – Marketing and Advertising

Chapter One from my book, “45 Minute Business Breakthroughs,” to download a copy of the entire book you can do that HERE

Let’s face it. The major hot button for most small businesses these days is the ability to generate leads. All small businesses want more leads, but few of them know how to successfully attract customers to their business.

As a coach, I have in-depth knowledge and skill when it comes to generating leads. So here’s the process I use to do this.

If you’re like 99% of the business owners I speak with, you may often feel lost or overwhelmed as you try to navigate through all the various options available these days. Websites, social media, SEO, email marketing, Facebook, pay-per-click and so on.

Let me do you a favor right now and completely remove that overwhelm from your life forever. Are you familiar with the 80/20 rule?

For business owners, it means 20% of what you do every day is generating 80% of your total annual revenue.

In other words, you’re only doing a few things daily that makes you most of your money. I can tell you specifically what makes up that 20%, and that’s all you really need to focus on after today.

There are 5 areas that make up that 20% – leads, conversions, transactions, pricing and profits.

I’m going to be focusing on just 2 or 3 of these 5 areas, so you can imagine what you could actually generate revenue-wise if you implemented all 5 areas.

In fact, let me show you what’s possible, and why these 5 areas are so critical.

I use a tool called a Profit Growth Calculator. Do you by chance know the exact number of leads and sales you’ve made over the past 12 months?

No! That’s OK… let’s plug in numbers for a make believe business. Let’s say your business generated 1000 leads in the past year… and your average conversion rate was 25%.

Let’s also say your customers bought what you sell 10 times throughout the year… and they typically paid on average around $100 per purchase.

Finally, let’s say your profit margin per sale is only 25%.

The Profit Growth Calculator

Notice at the bottom that you’re earning $62,500 annually. But, look what happens if we simply increase each of these 5 areas by a meager 10%.

You would see your annual revenue almost double from $62,500 to over 6 figures. By the way, that’s the ballpark most business coaches play in… the 10% increase range. Nothing wrong with that either, believe me.

Most business owners would KILL to almost double their revenue, wouldn’t you agree? Now, watch what happens if you could increase each of the 5 areas by 50%.

Your business would skyrocket from $62,500 to almost half a million dollars annually. Now, you may be thinking 50% gains in each of these 5 areas would be next to impossible. Let me assure you, a 50% increase is child’s play, and I’m going to prove it to you right now.

When asked, most business owners tell me “word of mouth”, or more often than not “referrals”, are how they generate leads. Referrals are obviously an excellent lead source. In fact, it may be the best one by far, but the problem is you never know when you will get them. They’re not reliable and you certainly can’t generate them whenever you want.

99% of businesses today do have a website. Do you know for sure how many leads your website generates every month? Do you know for sure how many sales your website produces every month?

Can I show you why your website isn’t generating leads or closing sales for you? In fact, would you like for me to give you the deeply hidden secrets that the marketing gurus DON’T want you to know?

Here’s the key to successful marketing. You MUST be able to enter the conversation taking place in the head of your prospects. Or, another way to look at it is to be able to address the number one question on your prospect’s mind at just the right time. So how do you do this? It’s actually quite simple when you know and understand the fundamentals of marketing.

The conversation that’s taking place in EVERY prospect’s mind revolves around two major points. There’s a problem they have, and they don’t want… and there’s a result they want but don’t have.

Now believe it or not, there is actually a marketing formula we follow that takes these two points into account and spits out a message so compelling it practically forces your prospects to buy what you sell.

It’s called the Conversion Equation, and it looks like this – Interrupt, Engage, Educate and Offer. The Interrupt is your headline – which means it’s the first thing someone sees when they visit your website, read any of your marketing collateral, or hear you speak. When someone asks you what you do, it’s the first words out of your mouth. That’s your headline… and it MUST address the problem your prospects have that they don’t want.

The Engage is your sub-headline – which is the second thing your prospects see or hear. It MUST address the result your prospect wants but doesn’t have. The Educate is the information you provide… either verbally or in writing… that presents evidence to your prospects that you and your product or service are superior in every way to your competition.

Unfortunately, MOST businesses aren’t different from their competitors, and that’s why you MUST innovate your business to create what we refer to as a market-dominating position.

You MUST make your business unique… it MUST stand out from the crowd. It MUST make your prospects say to themselves that they would be absolute idiots to buy from anyone else but you – regardless of price. And finally, the Offer. You MUST create a compelling offer that makes it so irresistible your prospects can’t turn it down.

But, here’s another critical fundamental of marketing. Because of the saturation of marketing messages these days, most prospects have become numb to most marketing.

Following our Conversion Equation can dramatically overcome this, but even with this powerful tool in play, it will still take multiple “touch” points before your prospects will buy what you sell.

For most businesses today, it takes anywhere from 20 to more than 100 touch points before a prospect makes their buying decision. Following the Conversion Equation reduces the touch points to somewhere between 5 to 12 points of contact.

But here’s the key… most businesses don’t follow up with their prospects at all, and this provides a HUGE window of opportunity for ANY business that does follow up… to position themselves as the dominant force in their industry.

But, in order to have the opportunity to get your message in front of your prospects 5 to 12 times, you MUST find a way to collect their contact information, and that’s the purpose of your Offer.

Most businesses offer something that only appeals to prospects we call NOW buyers – prospects ready to make an immediate purchase. Unfortunately, NOW buyers make up less than 1% of the total number of prospects that are in the market to buy what you sell.

These businesses typically offer prospects a free consultation, a discount, a coupon, a free assessment, a complimentary quote, or the biggest mistake of all… CALL US!

For most businesses, all of their marketing material… their website… their business card… all list their phone number as their sole offer… and that ONLY appeals to that 1% of NOW buyers. The remaining 99% of viable prospects are “investigating” and gathering information about what you sell.

They’re searching for information because they want to determine who is offering the best value. You see, prospects DON’T shop price – they shop VALUE!

The only reason prospects consider price is that most businesses don’t give them any other value proposition to consider except price.

Remember what I said a moment ago about making your business unique – creating a market-dominating position?

Most businesses don’t do that, and since they… and all of their competitors… look exactly the same, prospects are FORCED to shop price. So, with these fundamentals in mind, let’s see how your website stacks up to them.

Let me show you a website we just revised for a child psychologist so you can see what I mean… and then let’s take a look at your website as a comparison. Here is the child psychologist’s original website.

This is typical for this profession, and 99% of his colleagues’ websites look EXACTLY like this. Notice the generic headline – Parenting Advice and Resources from Dr. John Smith.

He has to have a headline like that because he’s attempting to be all things to all prospects. Basically, this doctor helps parents deal with adolescent problems. Look at the 9 areas he services – emotionally disturbed kids, behavioral problems, teen pregnancy, peer pressure and so on.

So, let’s compare this site with the fundamentals we just discussed. First, you MUST create a market-dominating position. This doctor could actually create 9 of them by simply positioning his specialty in each of his 9 individual areas of treatment.

For example, let’s say he decides to start with the top condition on his list… emotionally disturbed kids. These are kids that yell, scream and constantly have a highly belligerent attitude toward their parents. They scream at them and are known in some cases to threaten the parents. These kids can’t be reasoned with and these poor parents have NO clue how to deal with this situation.

So, here’s what this doctor needs to do. Forget the website completely – this doctor needs what we call a squeeze page. This is a single page that’s online and specifically addresses ONLY this one condition. So, what should this page look like… and what should it say?

Remember the second fundamental – you MUST enter the conversation taking place in the head of your prospect. There’s a problem they have they don’t want… and there’s a result they want but they don’t have. This is where we implement the first two components of the Conversion Equation… Interrupt and Engage. The headline is the Interrupt and it must address the problem they have and don’t want.

Here’s the squeeze page we created for this doctor that did that.

Notice the headline – Are You Sick and Tired of the Yelling, Screaming and Belligerent Attitude of Your Child? Does that address the problem these parents have and don’t want? Would you say that’s a 100% bullseye?

Now, for the Engage which is the sub-headline. It MUST address the result they want but they don’t have. Notice it says – Now You Can Discover the Secrets to Controlling Your Child and Instantly Restore Peace and Quiet in Your Home. Would you say that’s bullseye number two?

Now, let’s look at the third Conversion Equation component… Educate. In the doctor’s original website, because he’s trying to appeal to all prospects, his video said this – “Greeting parents. I want to welcome you to remarkable parenting. You will find tons of great information here with hundreds of pages of articles.”

Think how ridiculous this sounds if I’m one of these parents with a kid that has a belligerent attitude. Do I want to read hundreds of pages of articles? Or, am I searching for a specific solution to a specific problem? Do you see why most websites these days are basically a total and complete waste of money? They don’t address the things your prospects are truly looking for. Here’s the new script we created for this doctor.

“As a parent, are you struggling to gain control of your child’s attitude and emotions? Is your child yelling and screaming at you, while often displaying a belligerent and sometimes threatening tone that no matter what you do or try… you just can’t seem to get under control?

My name is Dr. John Smith, and I help parents like you every day learn the techniques that will solve these frustrating and destructive behavioral patterns once and for all. In fact, let me prove it to you. Enter your first name and email in the box to the right, and I’ll send you a series of 60-second techniques that will immediately restore peace and quiet in your home.”

Think that just might get more prospects to respond to this message? And that brings us to the final component of the Conversion Equation… the Offer. Look at the doctor’s original offer. It was for a free consultation. The only prospects that will accept that type of offer are those NOW buyers. Remember, they’re less than 1% of the total number of prospects looking for this type of help.

When your offer is to “call me,” that basically says “let me sell you” to your prospects. We are so used to getting non-stop sales pitches these days that we resist calling anyone with every fiber of our being. Most people won’t answer their phone unless they recognize the caller ID. This type of offer is called an incentive offer, and incentive offers only work for common purchases, emergency situations and impulse purchases.

And remember, most prospects don’t buy until they have been exposed to your messaging somewhere between 5 to 12 times. If you tell prospects to “call you,” and most won’t, how do you keep marketing to them? Obviously, you can’t. The secret to effective marketing is to offer what most prospects truly want… INFORMATION!

Look at the last sentence in the child psychologist’s video script… “enter your first name and email in the box to the right, and I’ll send you a series of 60 second techniques that will immediately restore peace and quiet in your home.” That offer is ZERO risk to a prospect, and it offers them something they truly want… a solution to their problem.

They can receive it by simply providing their name and email address… WITHOUT having to speak to anyone… or be subjected to any type of sales pitch. That’s why the offer on this doctor’s squeeze page says, “Learn the Secrets to Gaining and Maintaining Complete Control of Your Child in Less than 60 Seconds.” Is that a highly compelling offer that would appeal to a majority of the prospects directed to this page?

And do you now see why we call this a squeeze page? There are NO navigation buttons on this page to distract the prospect. In fact, there is only ONE action they can take… enter their contact information. Otherwise, they have to close the page completely… and if they do, THAT is when we can redirect them to the doctor’s main website to see if there is something else that might grab their attention.

That informational offer provides them with proof that this doctor can actually get them the results they’re looking for, and then within that information is an offer for them to schedule a consultation with the doctor, which they are now more likely to do.

But consider these numbers for this doctor’s original website. He could easily generate 300 or more leads per month using a pay-per-click campaign on Facebook. Those leads are then sent to his original website. He will then average around 10% of those leads… or 30 prospects… will see his offer for the free consultation and will call to inquire about it.

Notice I said INQUIRE about it, NOT request it. Out of that 10% that will call… only 10% of them will actually consent to the consultation… which equals 3 prospects.

Fortunately, for most professionals like this doctor, they typically convert 100% of the prospects they get in front of… so those 3 prospects will more than likely become patients. Note that out of 300 leads, the doctor winds up with 3 new clients. That is the national average today – 1% of all leads generated will typically convert into a new client. That’s pathetic!

But, now let’s look at the doctor’s new squeeze page. First of all, let’s leave his number of leads at 300 per month. That squeeze page won’t impact that number whatsoever. But let me ask you this and give me your open and honest opinion.

Do you think this new page will increase the number of prospects that will request this doctor’s secrets to gaining and maintaining complete control of their child? The doctor was getting 10% with his old site. What percent do you think would request this new, more compelling offer?

Most responses I get average somewhere between 50% to 70%. Well, suppose we stay really conservative and say that just 20% request the new offer.

That would mean 60 prospects would receive those secrets and actually see for themselves that this doctor’s methods really work.

And once they do, what percent of those do you think might request the consultation with the doctor? Remember, that originally it was just 10%.

Again, most responses I get average between 50% to 70%. I would tend to agree with those numbers, but we know he originally converted 10%, so to be really conservative, let’s just leave that conversion rate the same… 10%.

So, out of the 60 prospects requesting the doctor’s secrets, 6 of them now request the consultation. And let’s assume like we did originally the doctor converts all 6 of them into patients. That’s an additional 3 patients per month, isn’t it?

Now, let’s say this doctor only charges $800 for his services, even though in reality it’s typically 3 times that amount. $800 times 3 new patients is an additional $2,400 per month… which is an annual increase of $28,800. That’s obviously a dramatic increase in revenue considering we’re being ridiculously conservative… and all we did was make some slight changes to this doctor’s site.

So, let me ask you this. Do you think we could get similar results for your business? How many leads have you generated in the last 12 months?

How many leads would you estimate you’ve generated this month? How many of those leads requested your offer? If we could create a similar process for your business… and offer compelling information to your prospects just like we did for the child psychologist… do you think more prospects would respond? By what percent?

Could we conservatively agree that a 10% opt-in rate is easily a no-brainer? Do you realize just that one change alone would double your current sales revenue?

And that’s assuming we don’t increase your number of leads or your final conversion rate… which we will. If you said your last month’s revenue was $25,000… then just this one change alone adds an additional $25,000 to your bottom line.

In a recent case study I conducted, I found $58,000 in additional annual revenue just using this one simple strategy.

But consider this!

That additional revenue is NOT just a one-time increase. That’s revenue the business will generate year after year after year.

And… $58,000 in additional annual revenue increases the valuation of that business somewhere in the range of $150,000 – $200,000.

This article was taken from my book, “45 Minute Business Breakthroughs,” to download a FREE copy of the entire book you can do that HERE.

If you would like to explore other options of how I can help you take your business and your life to the next level, find out more about my one-on-one coaching programs by clicking HERE

Another option to consider is our online business coaching program. The E-Learning Marketing System is the most powerful and dynamic do-it-yourself client attraction program ever created. It was designed to give every small business owner unrestricted access to the tools, resources and support they need to build whatever size business they want. Check out our FREE Guided Tour to find out more about the E-Learning Marketing System by clicking HERE

Sometimes Everybody Else Is Wrong

How much confidence do you have in yourself?

Do you have enough confidence to stand alone?

Larry H. Miller shared the following story in Driven, An Autobiography:

“One day in my second-grade class, my teacher, Miss Issacson, posed a math problem for her 30 students to work out on the blackboard. Row by row, we each walked to the board and wrote 5 + 0 = and filled in the answer. I was in the last row, and after completing the problem on the board I returned to my seat. But when I studied the blackboard, I noticed that I was the only kid in the class who had written “5” as the answer.Reasoning that the rest of the class couldn’t all be wrong, I returned to the blackboard and changed my answer to “0” and went back to my seat. “Why did you change your answer?” Miss Issacson asked. I explained, and then she revealed the answer.That day I learned that it is possible to be a small minority and still be right, and I learned the value of  having confidence in your own abilities.”

Success will not come without any risk. Sometimes that risk may be standing for what you believe while everyone around you is telling you that you’re wrong. 

When you’ve done your part to the best of your ability, trust your gut. 

“Sometimes everybody else is wrong.”

Are you making the right decisions for your business? Take our E-Learning Marketing System Guided Tour.

Win 1-Year E-Learning Marketing System Membership!

The E-Learning Marketing System is the most powerful and dynamic do-it-yourself client attraction program ever created.

We created this program with the perfect combination of online resources, tools and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion dollar businesses.

ENTER TO WIN A FREE ONE YEAR MEMBERSHIP VALUED AT $997!

Have You Failed Trying To Sell Online? Here’s Why…

Successfully selling online comes down to some key strategies.

You MUST be able to enter the conversation taking place in the head of your prospect. Another way to look at it is to be able to address the number one question on your prospects mind at just the right time.

DO YOU HAVE WHAT IT TAKES?

RUSSELL BRUNSON

The conversation that’s taking place in EVERY prospect’s mind revolves around two major points…

  • There’s a problem they have and htey don’t want
  • There’s a result they want but don’t have

Knowing this, there are three steps that you need to take to convert your prospect into a buyer. If you’ve tried to sell online without much success, it’s likely because you are doing a poor job in one of these areas.

Hook

The first step is to get their attention. You need to interup them. If you can’t get their attention, you’re done before you even begin.

Story

The second step is to educate them with a story that uses emotion and builds belief and trust.

Close or Offer

Finally, the third step is an offer which must be so compelling and so irresistible that your prospects can’t turn it down.

If in the past you have not been successful selling online you’re probably not doing a good job in one of these three areas, the hook, story or close/offer.

If being able to successfully sell online is something that you want, you need to master these three areas. If that is something that you desire, then you need to join the next One Funnel Away Challenge!

Registration ends at 9PM EST on October 27. Don’t miss out! Click on the button below to learn more about the One Funnel Away Challenge and secure your spot!

  • Are you just getting started, and have NO IDEA where to start?
  • Are you in a dead end job that you hate, and you want to start your own business or start working from home?
  • Do you have a copmany that’s been successful, but for some reason you’re feeling stuck?
  • Are you trying to figure out a way to reach more people, or have a bigger impact on the world?
  • Are you convinced that you need a funnel, but not sure where or how to start?
  • Are you about to launch your next funnel, and wan to make sure it’s a huge success?

If anything on that list fits your situation, then you will definitely want to join the One Funnel Away Challenge!

The One Funnel Away Challenge is 30 days of coaching and live training that will help you to kick start your online business or take your online business to the next level. It will require work on your part, but the results will be woth it.

The materials you will recieve as part of the challenge are just as valuable as the course itself. Anyone that follows me has heard me talk about the book you will receive. This book is incredible. It’s filled with 30 different, fully detailed business plans from successfful experts.

If you’re tired of being stuck and you’re ready to do the work and make a change, join the One Funnel Away Challenge today!

I am an independent ClickFunnels Affiliate, not an employee. I receive referral payments from ClickFunnels. The opinions expressed here are my own and are not official statements of ClickFunnels or its parent company, Etison LLC.

More Leads – Joint Ventures

Get a FREE copy of my Marketing Strategies e-Book for ideas that you can implement immediately into your business! “More Leads – Joint Ventures” is one strategy outlined in the book, which I’ll share here as well.

Do you currently have any established joint venture partnerships?

JV’s involve two or more businesses who decide to form a partnership to share markets or endorse a specific product or service to their customer base… usually under a revenue share arrangement. The key to creating successful joint ventures is to find partners who service the exact same type of clients that need or want what you sell.

Let me give you an example and I’ll use one we’re both familiar with… a florist. One of the most financially lucrative product lines for a florist is providing flowers for weddings. The average floral bill for a wedding often exceeds $3,000. But what we discovered about florists is they fall into what we refer to as an “event chain.” An event chain simply refers to a series of businesses that customers purchase from in a specific sequence.

For example, a wedding will never take place until an engagement ring is purchased from a jeweler. So jewelers are at the forefront of every wedding chain. Once the young lady accepts that engagement ring, this event chain kicks into high gear. First, this young lady knows EXACTLY where she wants to get married, so number one on her agenda is to book the church, chapel or synagogue where she wants the ceremony held.

Second on her list is to line up her wedding planner. Weddings today are a really big deal, and often women like to use the services of a professional wedding planner. Next up, she wants to secure the venue for her reception.

She knows most venues book out months in advance, so locking in that venue is high on her priority list. After that comes the wedding dress, so she begins the search for the perfect dress at an affordable price.

Next is our florist. The bride-to-be will want to begin selecting her floral arrangements for both the wedding and the reception. Then after the florist comes the wedding cake… the printer for the invitations and thank you cards… and depending on the financial ability of the bride to be, she may also be interested in hiring a limo… a DJ for the reception… a travel planner for the honeymoon… the hotel… catering and so on.

This event chain is typical of this industry. And for the florist, it specifically identifies a multitude of potential and very lucrative JV partners. But here’s why this becomes so important.

Every business ABOVE the florist has the potential to ENDORSE and SEND prospects to the florist. Unfortunately, the florist has NO control over that flow of prospects. Every business above the florist controls the JV relationship, so it’s critical the florist create such a compelling offer and relationship with these businesses that they feel obligated to send prospects their way.

But here’s what’s even better. The florist controls the prospect flow to ALL the businesses BELOW them in the chain, and by establishing specific processes and procedures to make sure their customers use those businesses, the florist can negotiate compelling offers with those business owners as well. So consider these numbers.

Let’s say this florist cultivates a JV relationship with at least one of each business throughout this entire chain. Staying ultra-conservative with our estimates, would you agree this florist… since they have NO control over the flow of prospects from these businesses… is it likely they could obtain at least ONE referral each month from just one of the businesses above them?

OK, would you also agree conservatively that since the florist controls the flow of prospects to the businesses BELOW them… that they could easily send at least ONE referral to EACH one of them every month? Keep in mind these are VERY conservative estimates we’re using here.

Since the average floral bill for a wedding is $3,000… then just ONE referral per month from those businesses ABOVE the florist increases their annual revenue by $36,000. Now let’s consider the businesses BELOW the florist where the florist controls the referrals. Let’s start with the wedding cake maker.

The average sales price for a wedding cake is also $3,000, and the florist could easily negotiate a 10% referral fee. So, just a single referral per month produces an additional annual increase of $3,600 for the florist.

Now consider the printer. The average sales price for printing is $1,000, and the florist again could receive a 10% referral fee, so that single referral per month produces an additional annual increase of $1,200.

If we stop there, this florist has just increased their annual revenue by more than $40,000… and that’s using ridiculously conservative numbers. Imagine if you continued to add up the revenue produced by all the additional referral fees the florist would earn from all the other vendors in this chain.

This same process holds true for businesses that aren’t in a chain. But just like the florist, they simply identify partners who service the exact same type of clients that need or want what they sell. Now I realize this looks easy, but it’s not… and here’s why.

You not only have to properly identify who would make an excellent joint venture partner for your business… but you also must determine the order to approach each one… how to approach them… and when to approach them. It’s critical you do this properly or you wind up burning through all of your potential JV partners and come out with nothing in return.

Let me ask you a quick question. Just off the top of your head, how many potential JV partners would you estimate might be a fit for what you sell? Would you believe that I could identify more than a dozen for your profession? So conservatively, how many referrals would you estimate might be possible if a dozen other businesses were compelled to refer their customers to you for additional purchases?

Conservatively, let’s say you only get 3 referrals every month that buy from you. That’s less than one per week. How much additional revenue would that add monthly? Now multiply that by 12 to see your annual revenue increase.

One more thing before we move on. Remember earlier we discussed the critical importance of creating a highly compelling informational offer that would promise so much value to prospects that they would knock your door down to get it?

Suppose the florist offered this informational offer in their marketing, “5 Things Every Bride Should Know to Avoid Disaster on Their Wedding Day”. This offer would place TONS of prospects into their drip campaign and result in a tremendous increase in sales. Those new sales can then be referred to their new JV partners and they collect multiple referral fees every month.

This would absolutely dwarf the revenue we just uncovered for the florist in this example. What I find really exciting about JV’s is this is a strategy I help my clients implement immediately… and it begins generating instant cash flow for them right out of the gate.

In a recent case study I conducted, I found $75,000 in additional annual revenue just using the JV strategy.

And again, that’s revenue that business will generate year after year after year.

$75,000 in additional annual revenue increases the valuation of that business somewhere in the range of $225,000 – $300,000.

Get the full e-book for FREE by clicking the button below!

You can also check out our FREE GUIDED-TOUR of our E-Learning Marketing System by clicking HERE!

As a business coach and marketing strategist, I work with small and medium size businesses that have little or no money to spend on markeitng. I show them how to generate all the leads they can possibly handle without spending any extra on marketing or advertising.

One of my focuses is to look at existing marketing and dramatically reduce your existing spend while significantly increasing your response rate. I aim for a 2-10X increase in response rate, but 50-100X is not out of the question.

If you’ll invest 45 minutes with me on a video call, I’ll show you how I can find at least $10,000 inside your existing marketing. I’ll show you how to get it and I’ll show you how to put it in your pocket.

I’ll do that in 45 minutes if you’ll give me the opportunity at the end of our conversation to disccuss what I could do for your business. (with zero pressure)

If you want to generate more revenue in your business click HERE now!

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The E-Learning Marketing System

The E-Learning Marketing System is the most powerful and dynamic do-it-yourself client attraction program ever created

We created this program with the perfect combination of online resources, tools and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion dollar businesses.

The E-Learning Marketing System was created to give every small business owner unrestricted access to the tools, resources and support they need to build whatever size business they want.

Click the link below to take the E-Learning Marketing System Guided Tour and learn more about the tools you would have access to:

  • A Complete Diagnostic On Your Business
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  • Bonus Content Specifically Designed To Add Immediate Cash Flow
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https://jeffheggiebusiness.com/guidedtour

How to Increase Your Productivity

When I sit down to write an article, or as I’m planning an upcoming mastermind call, the topics usually come to me because of conversations I’ve had throughout that week.

On our mastermind call yesterday, one of the things we discussed was how to keep focused and work efficiently towards your goals. I received a comment from someone that said they work much more efficiently and are better at getting things done as deadlines approach. This comment reminded me of a post I had written back in April of 2013. Today, I want to share that information again.

The following is portions of my post from April 18, 2013:

Last night, my daughter, Tia, finished practicing piano and was sitting at the table looking very stressed. My wife, Tamara, asked her what was stressing her out. From there the floodgates opened up and out came all of the things she had to get done in the next few days with some tight deadlines: French test, write a paper abut her experience in Africa, create a video to use at the piano recital, prepare her presentation for the Rotary Club, basketball practice, and…

That was when Tamara stepped in. She told Tia to make a list of all the things she needed to get done and the deadline for each one. She also needed to figure out which ones she could have help on and who could help her.

This made me think about Zig Ziglar and his “Day Before Vacation” teachings, which he asks:

  1. As a general rule, on the day before you go on vacation, do you get two or three times as much work done as you normally get done in a day?
  2. If you can learn why you are that much more productive on the day before vacation, and then repeat that process on a daily basis without working any longer or harder, does it make sense that you will be more valuable to yourself, your family, your company, and society in general?
  3. On the night before the day before vacation, do you take a sheet of paper and say to yourself, “Now tomorrow I’ve got to do…,” and then make a list of things you must do?… In it’s simplest form, that’s goal setting and it’s critical. Next, did you organize your must-do list in the order of importance and accept responsibility for completing those tasks?

The day before we leave on a vacation, Tamara and I both have our to-do lists. On that day, both work related and non-work related things get completed efficiently. This all happens because we have deadlines and we need to focus to get those things done.

This is what Tia will experience over the next few days. Her French test, the Rotary presentation, piano recital and all the other things coming up are going to happen if she’s ready or not. So she needs to focus and prioritize to ensure she does well at all of them.

Going back to Zig and his day before vacation example, he says “On the way to work the next day your self-talk was upbeat and centered on what you were going to get done. You arrived at work on time so you were punctual. You immediately started to work, making you a self-starter. You were highly motivated and optimistic that you were going to finish every task you had set for yourself. You were enthusiastic about your work and decisively moved from one task to the next, making good choices as you did so, even if the next job on the list was disagreeable.”

I love this example related to unpleasant tasks. “An ol’ boy down home said it best, “Friend, if you’ve got to swallow a frog, you just don’t want to look at the sucker too long. He aint gonna get no purtier! As a matter of fact, the longer you look, the uglier he gets.” That’s the way unpleasant tasks are.”

“As you move from task to task, if someone tried to interrupt and talk about last night’s television program or last night’s game, you disciplined yourself to stay on task and not be distracted from your job… Since there was no “tomorrow” for you on each job, you persisted until you completed each one… and momentum built with the completion of each task… Perhaps the most exciting part of this vacation scenario is the fact that your co-workers instinctively picked up the pace [as well].”

If this approach works so well on the day before vacation, or the days before a test or a presentation, won’t it work just as well every day?

A big part of this is in your planning. When you plan and track things, the odds of their happening go up substantially. If we plan our months, weeks and days we will be more productive and balanced.

Tia spent the evening writing about her experiences in Africa. She made her list and prioritized it. When Tamara told her to pause and to make a list to prioritize, it relieved a lot of the stress in the situation.

Plan your time efficiently, and act upon your plans so that you don’t spend your time reacting to what is happening to you.

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FREE e-book: How I Find $10k in 45 Minutes For Small Business Owners

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The purpose of this book is to walk you through a process I’ve created where I can find any business a minimum of $10,000 in just 45 minutes.

I will go through 8 simple strategies that are proven revenue-generators for any small business. Most business owners know nothing about these strategies, and therefore, are failing to capitalize on their revenue-generating power.

For the purposes of this book, I’ll cover each of the 8 strategies in individual chapters for one main reason. I want you to be able to review these strategies and minimize the amount of time it will take you to implement them in their entirety.

But consider this… business owners today are in the fight of their lives. The global economy is in shambles, they have no additional revenue sources they can tap into for financial support during lean times – and perhaps worst of all, marketing and advertising just don’t work as well as they used to. In fact, for many small business owners, marketing isn’t producing any results for them at all… and their financial situation is growing more desperate by the day.

As a business owner or entrepreneur, if you’re struggling right now to generate more leads and clients for your business, and you need to find immediate ways to dramatically increase your business’ bottom-line revenue, then spend the next few minutes with me and I’ll show you how I can help you make all of these problems disappear forever.

Small business owners today are desperate for proven and tested ways they can generate more leads, attract more clients and make more money. So, what if I told you that I can show you how to generate all the leads a business owner needs in order to completely dominate their market? What if I could prove to you right now that I can make ANY small business owner more than $10,000 in additional revenue… and do it in just 30 days?

In this book, I’m going to give you back door access to a series of powerful business growth strategies that are some of the most powerful revenue-generating strategies ever created.

So let’s get started. Click the link below and I’ll send you a copy of this e-book!

Find more marketing tools and strategies at www.JeffHeggieBusiness.com

Join The Inner Circle Mastermind Weekly Call!

The #1 thing that transformed my life was being a part of masterminds… I’ve literally invested hundreds of thousands of dollars in masterminds and it’s what’s allowed me to achieve a level of success I never though possible… Generating millions of dollars.”

Dean Graziosi

If you’re ready to take your life and business to the next level, you must join use for an upcoming Inner Circle Mastermind call!

The Inner Circle Mastermind is a weekly call that has a number of components to it. We have specific topics we train on. As a group we study and discuss books and how the things taught in each book can impact our businesses and lives. As a group we break down challenges or opportunities others are facing and determine the best plan of action to move forward.

You’re The Average Of The Five People You Spend The Most Time With

Jim Rohn

If you’re looking for success you need to surround yourself with like-minded, success-focused people. The Inner Circle Mastermind is a group of individuals READY FOR MASSIVE SHIFTS IN THEIR LIVES! They are READY TO STEP IT UP AND BE CHALLENGED, and they are READY TO HOLD YOU ACCOUNTABLE to do the same!

Just finished our mastermind. I now have actionable plans that will move my business forward. Thank you for creating a group of synergistic, like-minded leaders. The ideas and group brain storming put me light years ahead.

Dr. Mark Leonard – High Performance Coach

Great investment of my personal time. Jeff was able to deliver a thought provoking, systematic approach to recognizing and understanding my WHY and how to improve. Application of this in a mastermind group setting offered greater insights and perspectives to my personal and business challenges. 
Worthwhile at every level!

Sheldon McLachlan – Entrepreneur

Time well spent! If you’re stuck in your life or business, Jeff will teach and guide you through the skills necessary to break through those barriers and carry you to the next level.

Alan Wood – Sales Executive

I knew this mastermind class would be beneficial but the unexpected a-ha moments were life changing. Thank you for your ability to guide us through this process so seamlessly and for helping us see so much potential in our businesses once again!

Becky Leonard – Entrepreneur

One of the hard parts about being an entrepreneur is the psychological weight of being the key decision-maker. Every decision and metric depends on you.

Figuring out how to organize your time, stay accountable, and make everything happen without losing your mind is a real challenge. I don’t say this lightly: Not having people to talk to and bounce ideas around with can be one of the hardest parts of starting your own business.

For that reason, many entrepreneurs I know turn to mastermind accountability groups to help them stay focused and successful.

Sarah Kathleen Pack (Forbes.com)

Want More Profit In Your Business?

Know Your Math

I was recently working through some marketing strategies with one of my coaching clients and we got onto the topic of pricing. She really wanted to make a push to increase her sales in the short term and wanted to decrease her prices and have a sale as a promotion. 

I told her that I didn’t think that it was a good idea. There are better ways in which you can offer your customers more value with different strategies such as bundling. But first I wanted to walk her through the numbers to show her why I didn’t think a sale was her best option. 

Unfortunately I haven’t always seen it this way and have made similar mistakes with my own companies in the past. But now that I’ve worked through the numbers and see the math, I definitely focus on other marketing strategies.

I’ll spend some time in other articles to talk about different strategies, but for now I’m going to walk through the steps I showed her that explain why I don’t like the idea of using a sale to add value to your customers.

The real key to success in marketing is to offer more value than your competition. Prospects will pay twice the price if they believe they’re receiving four times more value. Unfortunately, most businesses in a vain attempt to increase their value begin to offer discounts, and that often destroys their margins. 

Would you believe me that in some businesses if they discount their price by a mere 10%, they now have to sell 50% more just to break even?

Let’s look at an example:

If you sell a widget for $100, and you have a 30% profit margin, you make $30 for every widget you sell. That means your cost basis for that widget is $70. If you discount that widget by 10% and sell it for $90 instead of $100, your cost basis is still $70. Now you are only making $20 in profit instead of $30.

For this business to make $1,000 in profit selling their widgets at $100 each, they would need to sell 33.3 widgets ($30 X 33.3 widgets = $1,000). But by discounting their price 10%, now they need to sell 50 widgets ($20 X 50 widgets = $1,000). They now have to sell 50% more widgets just to get back to their original profit margin. (33.3 X 1.5 = 50).

But consider this… when was the last time you saw a business offer a measly 10% discount? Most of the time they offer 20% to 40% discounts… and wonder why they are going broke. And to add even more bad news on top of this already bleak scenario, did you know that the latest research shows that discounting doesn’t actually impact a prospect’s buying decision unless that discount is for 40% or more?

So what about increasing prices?

Most small businesses have NEVER raised their prices. That’s because they don’t know the facts when it comes to increasing their pricing. They’re scared to death that ANY price increase, no matter how small, will lead to a mass exodus of all their customers. But is that really true?

Let’s use the same scenario as before. You are selling your widget for $100 and decide to increase that price by 10% to $110. Will that small increase REALLY lead to a loss of customers? Honestly, I believe a few will leave, but they are most likely your biggest price shoppers that show NO loyalty or patronage to your business anyway. They are the ones that beat you down on price every chance they get, and the moment you begin to make a decent profit, they will leave you in a heartbeat for the next business willing to accept a financial beat down. But even though there will be some customer attrition… to what extent? Let’s look at the numbers.

Their business is now making an additional $10 per widget… All of which is pure profit. Right there, that’s a 33% profit increase. For their business to make $1,000 in profit selling the widgets at $100 each, they needed to sell 33.3 widgets. But now, by increasing the price 10%, they only need to sell 25 widgets.

That means just to BREAK EVEN, they would need to LOSE 25% of your customers over a measly 10% price increase… and that simply ISN’T going to happen!

Want to know the closely guarded secret that successful businesses don’t want you to know?

STOP Discounting!!! Instead, innovate your business so you offer more value than your competition and increase your prices.

Of course, if we were working together we would need to perform a thorough price analysis on your business and determine the most lucrative price increase for you, but this is definitely a strategy I strongly recommend to all of my small business clients to help them increase their revenue. There simply is no FASTER or EASIER way to generate additional revenue. 

After working through these numbers my client made the decision to increase her prices rather than have a sale and decrease them. So far, along with some other marketing strategies we applied, it is proving to be the exact thing she needed to do for her business.

Once you know and understand these and the other marketing strategies I teach, it’s just a matter of getting it all implemented in a timely and efficient manner to watch your business explode!

Watch the Video: “Everything You’ve Learned About Generating Leads & Growing Your Business Is Wrong!”

jeff@jeffheggie.com

Please vote for Kodiak Mountain Stone

In my previous blog posts I have talked about our Education Plan at Kodiak Mountain Stone.  We have been fortunate enough to have gained some recognition from our program.  Alberta Venture magazine has honored us as one of the finalist in The Small Business Superstars contest.

Our full story can be read at http://smallbusiness.albertaventure.com/?p=1679

We have had great support so far, but we are trailing in votes by a small margin after the first month of voting.  Anyone and everyone is encouraged to vote until the closing of the contest at the end of November, 2012.

To vote you are asked to open an account, which consists of an email address and a password.  At that point, Alberta Venture offers some great opportunities to receive content from them.  But if you wish, you can also opt out of receiving any content.  By voting, you can also have the opportunity to win tickets to the Business Person of the Year luncheon in January as well as the chance to win subscriptions to Alberta Venture magazine.

We would very much appreciate you support by voting for us.  Thank you!

D. Jeff Heggie