Category: Education

Gather the Troops

Today I’d like to chat about the different types of support staff you need and what
makes them so important.
There are essentially three key roles that need to be filled to set your business up for
success:
 The Technician
 The Manager
 The Entrepreneur

All of these roles need to be played simultaneously by different people with the right
talents. It’s all about balance.
The Technician
This person represents the present and all that needs to be done for the physical
aspects of the business building process. They are the “doer”. This is usually the most
visible person of the entire operation.
The Manager
This person represents the past and works to fix problems through learning from past
mistakes. They are the practical side of the business and is in charge of putting together
the business and overseeing the planning.
The Entrepreneur
This person represents the future and the vision for the business. They are responsible
for the creative side of the business and are always considering ways to enhance
products/service, business image, branding and more.
All three of these characters are essential in the success of any business and to build a
solid foundation from the start, you need to work harder to find the right people to put
in these roles. Obviously, you need to be one of these key people, but ensure you find
the role that fits your skills and talents, not necessarily what you THINK you should be
doing.
This may be a hard process for you as you will need to relinquish some control over the
business and instill trust in people to allow them to do their jobs.
Remember, our business coaches can help you through this entire process and teach
you how to avoid falling victim to e-myths when you try our GUIDED TOUR.

Are You Aiding & Abetting E-Myths?

We are going to embark upon a journey through the world of e-myths and debunk them
to help you avoid falling into the e-myth trap.
First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-
myth, is an assumption that anyone can succeed at business with:
 Desire
 Some capital
 Projected a targeted profit

This sounds great, but it just not realistic. Think of starting a business as a marathon.
Sure, everyone starts out of the gate at record pace, but after a few miles people start
slowing and some drop out entirely. Building a successful business takes stamina and
agility.
The reality is that there are many different facets to a successful business and none of
them can be ignored if you plan to find success.
Let’s take a minute to talk about entrepreneurial seizure. This defines the roller coaster
of emotions that comes with starting, nurturing and the potential failure of a business.
The emotions that occur, in order, are:
 Exhilaration
 Exhaustion
 Despair
 Sense of self-loss

This is usually cause by the e-myths and assumptions we talked about. You can get your
hopes so high on instant success that even the smallest lag and you are sent into an
emotional tailspin. This is also brought on by the stark realization that you can’t do it all
and will need help in the areas where you don’t have the knowledge. Now, faced with
limited choices you may feel like you need to back out and hide, but don’t do this.
Use our GUIDED TOUR to get the business coaching you need to avoid feeling
overwhelmed and defeated.

Do It Like the Big Dawgs!

Today we’ll take a look at how the kings of industry wine, dine and otherwise cajole
prospects.
Most of successful professionals use a series of information based ads that build
emotion and a call to action. These are much more effective than a standard company
branding advertisements. The same principles that go into putting together a high
impact (and, often, high priced) ad campaign can be adapted to fit your needs with
similar results.
Here are some ways to put together and execute a professional, effective ad campaign:
1. Put together a short report that’ll you’ll automatically send to prospects when
they contact you. This should include a short description of your business and
what you specialize in. Don’t forget to include case studies, samples or other
proof of your success.
2. Develop value-oriented yellow page ads.
3. Consider newsletters as a way of educating and informing customers about your
industry and services offered.
4. Offer a free seminar, webinar or other lecture to build awareness of your
business, but make sure you make the information pertinent to your target
market and find speakers who are respected and known in the industry.
5. Buy an existing business, introduce better marketing and grow this new business
faster than a “from scratch” business.
6. Always test different versions of your ads to find the most effective ones.
7. Use direct mail marketing to grow your business.
8. Put together a database of previous customers and send them new information.
9. Offer incentives such as frequent purchasing benefits, loyalty programs, referral
programs or others.
10. Approach large firms who may need your services and negotiate a deal to be
their exclusive expert in your field.
11. Offer a 24-hour information line with a regularly updated recorded message.
Make this available to all past and future customers/clients.
12. Donate time or materials to local charities to show support in your area.

13. Offer public clinics for the general public to come along and discuss what they
need that’s free and approachable.
14. Organize seminars your customers/clients can pay to attend by putting together
a high-perception value package.
15. Approach local newspaper by offering to write a weekly column about your area
of expertise. Don’t ask for money, just a byline and bio.
16. Develop a weekend or other destination seminar for customers/clients, not only
does this give you an action-packed weekend with the most important people, it
gives them a tax-deductible business adventure.
17. Take a good seminar and turn it into written form as a home study, member site
program, audio or video program.
18. Approach large companies and offer to give seminars to their employees,
investors or management.
19. Be proactive with your marketing plan.
20. Barter for your marketing. Offer products or services in lieu of payment.
21. Be willing to bring in new clients, even if at an initial loss because it will likely pay
off later.
22. Regulate your marketing budget to maximize the potential income from them to
hit the next year and try to push back advertising costs for the next year to offset
your expenses.
23. Make offers to target markets or target market businesses to pay them for
referrals or shared databases.
24. Offer loaner products to replace equipment that’s be repaired or refurbished.
25. Give away something free to everyone who brings in a print version of your
advertisement. This is a great way to see which ads are giving you the most bang
for your buck.
26. Continually consider what new products/services you can offer to current
customers/clients.
27. Develop a mail order division of your company.
28. Offer a proposition to your competitors to trade customers/clients you were
both unsuccessful in selling to.
29. Use different marketing tactics as an excuse to attract new customers/clients
with new offers and goodies.

30. Offer a “you-choose-the-price” program. This is especially good for product you
just can’t seem to sell.
So, there are 30 great ways to market to other professional and businesses. Some other
great ways to get your name out there for little or no cost are:
 Get involved you in your community-volunteer, donate to local events, etc.
 Join your local Chamber of Commerce and attend the networking and other
activities throughout the year.
 Join a local, state or regional professional associates for further networking
opportunities.
 Become a board member of a local organization.

Advertising should never be your only method of marketing, there are a myriad of ways
to get your name out there in a way that feels personal to potential customers/clients.
“Effective advertising…must be used to get your name out to the public. If your name is
not familiar to people, they will not come to you.” Jay Abraham
If you’re not sure where you start with your marketing plan or how to reach out to your
local community, competitors, customers/clients and others who could influence your
business in a highly positive way, try our GUIDED TOUR to experience the tools and
resources we have to boost your business to the next level and beyond.

How Well Do You Know Your Vendors?

It’s extremely important to build relationships with your vendors and those around you can bring in new customers/clients and increase awareness of your company branding.
The people you work directly with on your products and services are really the ones with the most to gain when you find success. By taking the time to get to know them, you’ll find a whole host of opportunities you didn’t realize were there.
Look for great ways to offer your vendors rewards for helping grow your business and everyone wins. One of ways you can do this is by offering performance based incentives that are much larger than their normal charges.
Here’s the step-by-step process to putting together a partnership with a vendor:
Approach all the vendors you work with and offer an incentive based on performance.
Put the generous incentive plan together from their perspective, even take suggestions.
Develop a clear, concise and easy to track incentive plan, this will increase competition between vendors and therefore higher performance levels.
Encourage subsequent sales instead of focusing only on the initial sale. By doing this you can give away more of the profit from the initial sale to your vendors and make higher profits off the back end products. Encourage:
Future sales
Upsell better and more profitable products/services
Cross-sell to additional products

Create an incentive plan that’s irresistible to your vendors by offering generous, exclusive compensation.
Think of all the vendors you work with and the creative ways you can put together an incentive plan that entices them to be part of your business. Use their talents, capabilities and connections and you’ll both be winners.
Putting together an incentive plan doesn’t have to be a complicated process. Use our GUIDED TOUR to come up with some great ideas and put your incentive plan together for maximum results.

Educate Your Customers

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential…they’ve already bought from you!

Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.

Here are a couple of key elements to use to retain your current customers:

  1. Stay in contact: This means by phone, email, e-newsletter, in person-by pigeon if you have too!
  2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are being supported for their purchase and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
  3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option.
  4. Integrity: Using good business practices and simply upholding integrity, dignity and honesty go along way with customers. Let’s face it, there’s a lot of swindling and crap out there and the safer and more confident you make your customers feel, the more they will trust you and that makes for an amazingly supportive and loyal customer.

There are three cornerstone ideas to a successful business:

  • Quality product/service
  • Offering useful products/services that solve a problem for or enhance the life of a customer
  • Offer subjects your customers find interesting

Use this approach of educating your customers and offering them real information and insight and you will be rewarded with loyalty and success.

Stop wasting all your time on new prospects while your current customers fall by the wayside!

As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and diverts some of your resources into reselling, upselling, cross-selling to those same customers. In every ways possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”

So, there it is! Remember, we can help you put together the resources and tools to do exactly that. We can help you educate your customers and you can watch the benefits pay offer many-fold.