"Poetry is ordinary language raised to the Nth power. Poetry is boned with ideas, nerved and blooded with emotions, all held together by the delicate, tough skin of words."Paul Engle
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How Small Businesses Build a Customer Base
Building a solid customer base is a necessity of any small business. Often times these smaller businesses cannot compete effectively with larger companies in terms of resources. For example, Tom's mini-Mart is not going to be a match for Farmer Jack's ...
What? Home Business??
What? Home Business??Today's world is accelerating at a pace never seen before, and there seems to be a lot of things people forgot about.Home Business? Hmm. sounds like a lot of trouble, a lot of work. With a job you don't need to worry about anything. ...
Which Is Better: Repeat Business Or New Customers? - Part 1 Of 2
Every management authority on the circuit says that loyal customers and their repeat purchases are the cornerstone of your long-term successful business. The reason is obvious: it is less costly to get your existing customers to buy more than it is to ...
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Do you know the answer to this question?
"What can you do now to INSTANTLY increase the
profitability of your business?"
Well, the answer is surprising simple.
Change your strategy.
Your strategy is the master purpose of your business. It's
the fabric that binds your business systems together and
the bedrock of your business's entire operating approach.
Here are 5 'instantly deployable' strategies that can take
your business to new heights, regardless of what product or
service you're selling.
Explosive Strategy #1: Big Picture Awareness
Napoleon Hill listed "Accurate Thought" as one of the most
important success principles.
Most business owners don't even "think" about their
businesses and simply adopt a reactive approach.
The truth is, you can't go anywhere unless you know where
you're going.
And frankly, this is why so many businesses out there fail,
because they 'know not what they're doing'.
Try this simple exercise to cultivate Big Picture
Awareness:
Get a whole bunch of colored pencils and a sketchpad, and
start creating a mind map of your business or next project.
You should be able to look at the mind map and instantly tell:
. Who's doing what. (For instance, web-design --> Webmaster)
. The possible options your 'prospect' will take, and the outcomes
. Points of upsell, downsell, cross-sell
In short, you should have every single piece of the 'puzzle' there.
Objectively, your strategy should bring you the most
results in the shortest period of time on the most
sustainable basis. Once your master strategy is in place,
everything else is merely tactical.
Explosive Strategy #2: Funnel Vision
Always remember: A Buyer, is a buyer, is a buyer.
Every business should capitalize on the lifetime value of
the customer through expansive repurchases of products and
services.
Have a marketing funnel in place. Introduce ancillary
products that you deem to be performance enhancing. These
can be other people's products which you can obtain from
joint venturing.
Most importantly, you'll want to graduate your customer to
higher ticket items as it's high octane fuel for business
growth.
Explosive Strategy #3: The "Inner Circle"
You'll find that there are many people who are "belongers".
Such people tend to pride themselves in being a 'part' of
an elite group and highly value membership and association.
The savvy entrepreneur will do well to take advantage of
such behavioral traits and cater to this 'select' group.
There is a threefold advantage in doing so. Firstly, it's a
highly efficient way to 'bundle' goods or services
together. Secondly, it's a great way to introduce
continuity in your business, and last but not least, it
encourages hyper-responsiveness.
Explosive Strategy #4: Identifying Hyper-responsiveness
Have you ever encountered a customer who seems to buy
almost anything you put out? Customers who seem to be on
"standby", waiting just to grab just about anything new
that you put out or recommend?
It's a great idea to group such people into an "A-list".
The 'high rollers' if you will.
Usually, such people will come from your own database, and
it should be your business priority to encourage
hyper-responsive behavior. Make sure hyper-responsiveness
is always well rewarded with surprise bonuses, freebies,
and nurturing communication.
Remember, because of the Pareto principle, 80% of your
profits will come from 20% of your customers. Guess who
belongs to the 20%?
Explosive Strategy #5: Multiple Income Sources
You're practically leaving money on the table if your
business is limited to a few channels.
Affiliate Programs have made it possible for almost any
business to make money from ancillary products at a few
mouse clicks.
Why go through the hassle of product development and the
costs associated with it. Remember, you're never in the
'business' of anything, but you're always in the business
of marketing the 'business'.
And all you have to do as an affiliate is basically market.
Though many affiliate programs are free to join, it would
always be a good idea to purchase the product in question
and do a thorough review first before recommending it.
While you don't exactly need 'brass balls', it is
imperative to note though, that as an information
facilitator, you should feel good about recommending a
product that you sincerely know will benefit your list, and
not be afraid of getting 'flamed' for trying to pitch.
If someone is offended and unsubscribes, then just shrug
and say 'next'. You don't need such people on your list.
There you have it, my "Big Five" strategies for optimal
business growth and profitability.
Use them, and watch your business take on a new dynamism!
A positive side effect may include swelling of your bank account.
Best of all, they don't cost a cent to implement, so don't wait.
The time is now.
About the Author
Jo Han Mok is a frequent guest and featured speaker at
Internet Marketing boot camps and conferences on subjects
such as copywriting and Joint Venture Marketing. Find out
more about his explosive strategy for creating a business that
makes over $100k a year in 7 days or less at:
===>http://www.7daystonicheprofits.com
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