Biz Coach Steve

Category: Business

  • How can leadership training help YOUR bottom line?

    How can leadership training help YOUR bottom line?

    “We’ve always done it that way!”

    A phrase spoken by owners, managers, and employees when a business is failing or operating below its true potential. And what is that way? Most often, it’s not the old-style patriarchal leadership way. When it comes to progress and success in today’s competitive environment, authoritarian business leaders are as effective as kings and dictators are for their nations’ economies.

    They control their people but, in doing so, they create an environment of stagnation that fails to tap into their population’s talents and ambitions. Leadership training can help a business owner learn how to lead people in a way that brings out their best and encourages them to take ownership.

    In a diverse country such as America, this also requires knowledge about generational and cultural differences and the best approaches to communicate and motivate each one.

    “The best leaders and managers invite staff to fully invest in their success.” As a highly successful business owner stated at a CEO conference.

    The top-down, one-way communication style died in 1988, yet some [small business owners] still use it because they are used to making all the decisions. This holds very true today.

    With today’s demographics and worker shortages, small businesses need to have a very solid plan for attraction, retention, and succession. All that starts with the leader’s vision and leadership style.

    Demand and control as an effective management style is dead — or, at least, on its way out –because that’s not a style that will work with younger employers. You need to engage them if you want to keep them, and if you want to keep them you have to understand where you want to go, and they have to see you as a person who wants to develop them.

    Another benefit of leadership training for small business owners is that they can use what they have learned and pass it on to their team. In many ways, today’s best leaders are the ones who can instill leadership skills in all their employees.

    But many experts and studies have shown, part of that means that the leader must know how to walk the talk.

    Integrity is a big part of this.

    You will not be motivated, and you will not lead people well if you say one thing and are doing something else entirely. Leadership by example is one of the strongest ways to get alignment and alignment is key to achieving your goals.

    What leadership training have you completed in the last year? In the past 5 years?

    Have you used what you learned in your business?

    Having leadership training in your business is critical to business success nowadays.

  • Time Management Test

    Time Management Test

    Being a business owner, you have two very precious commodities. Time and Money.  You can always make/borrow more money. But you cannot get your time back.  One of the biggest killers of small businesses is poor time management. Everything you do in your business must be to grow your business, sell your product or service, adding value to your customers.  If you are busy emptying out the trash and cleaning your office during operating hours, you are wasting your time, money, and a very precious commodity.

    There are many different time management techniques available for you to use.  Just find one that works best for you.  It could be a filo-fax, desk calendar, Google calendar, or anything.  Just use a calendar religiously to keep you on task and to move your business forward. Everything needs to go on your calendar. Block out time for calls, then make sure you have your call list (name, title, phone number, why you are calling, and what you want to get out of the call) ready to go. Make these lists in your non-operating hours. Maybe after the business closes or on the weekend. Don’t waste time creating your call list when you should be dialing and smiling.

    Here is a simple time management assessment to see how well you are using your time.  Put a score after each statement, then you will add them up at the end. Scoring: 1=Not like me at all, 2=Not like me, 3=Neither like me or not, 4=Like me, and 5=Very much like me.  Be honest with your scoring.

    I hardly ever make a commitment to a deadline I can’t keep: __

    I generally answer emails and return phone calls right away: __

    Once I have the information I need, I usually make decisions quickly: __

    I am generally able to fit an unscheduled “urgent” action item into my day: __

    I usually feel satisfied with what I’ve accomplished at the end of the week: __

    I seldom find myself running out of time when trying to complete a task: __

    I generally like to focus on one thing at a time: __

    I rarely procrastinate over “not fun” tasks. The sooner the tasks get done, the better: __

    I often don’t get jobs done for days, even if they require little effort to sit down and do them: _

    I frequently leave things for “tomorrow”: __

    When faced with a huge task, I chunk it down & figure out what to do 1st so I can get going: __

    I often have a task finished sooner than necessary: __

    I never have to waste time looking for things. I usually know where everything is: __

    When deadlines are getting close, I often waste time by doing other things: __

    I find it easy to say “No” to requests that are not my priorities: __

    Scoring Key:

    46 – 75            Congratulations! Your time management is fantastic!

    31 – 45            Very good! But there is room for improvement.

    15 – 30            Oh dear! The good news is that you can find a lot of time once you improve your time management skills.

    Here are just a few ways you can be more efficient and STOP waiting time.

    PRIORITIZING AND ORGANIZATION

    • Take 30 minutes on Sunday to plan your week ahead
    • Make a daily To-do-list
    • Prioritize
    • Assign the time you will need to finish the task
    • Start doing
    • Identify the five most important things on your list and do them
    • Spend the first 15 minutes of every morning looking over your to-do-list
    • Set fixed times every day for uninterrupted work and communicate them
    • If you can do the task in less than 5 minutes, do it RIGHT AWAY
    • Organize your desk before you leave it for the night
    • In the last 15 minutes of the day review your list and prepare for the next day.
    • Stop multitasking! – Do one thing at a time!
    • Work against time – You’ll get your work done faster
    • Limit your phone calls to a max. of five minutes per call
    • Take an hour every week to organize your paperwork
    • Use your email inbox as a to-do list. What’s done gets archived
    • Limit the number of meetings that you attend

    STOP PROCRASTINATION

    • Don’t think! START!
    • Just take the first step
    • Start with the task you least like doing first
    • Make a decision. Any decision.
    • If the task is overwhelming, break it down into mini-tasks

    SAY NO

    • “Sorry. I can’t do this at the moment. I have other priorities”
    • “Now is not a good time. I’m very busy right now”
    • “I’d love to help you but…”
    • “No sorry, I can’t…”
    • Don’t accept any new tasks until you have everything under control
    • Don’t run any errands
    • Set fixed times for checking your emails
    • Set fixed times for your social media activities
    • Leave some time in your schedule or unexpected events
    • Ask yourself every morning: “What is my most important task of today.”

    Starting today, find a time management method that works for you and USE IT!

    Follow the time management tips use your time effectively and grow your business.

  • Difficult Conversations – Use your coaching skills

    Difficult Conversations – Use your coaching skills

    Many owners and leaders have confided in me that one of the most difficult aspects of their job is those difficult conversations that have to have with their employees. A lot of those leaders either ignore them or hope they will go away by themselves. But wishful thinking is not managerial thinking. To face up to personal employee habits that may upset customers or colleagues, team leaders need to have a strategy, a plan, and the skills to confidently know how to put things right. As with everything, there are right ways and wrong ways to have these sensitive discussions and I hope you choose the right way.

    Difficult Conversations: A 5-Point Plan

    The following plan can be applied to any difficult conversation with an employee whose habits need to be changed. These include employees with unpleasant personal habits, such as poor personal hygiene, as well as employees with attitude problems.



    1. It’s Only Difficult If You Think It Is

    Drop the idea that this will be a “difficult” conversation. Look at it in terms of a performance issue. Focus on the desired outcome which is always to bring the person up to the standards required of everyone. Remember that you have the assertive right to raise the issue if it is something that affects you or the people you are responsible for. You don’t have to justify, explain, or excuse yourself.



    2. Even When It’s a Personal Issue, Don’t Make It Personal

    Many “difficult” situations arouse strong emotions in people which in turn make the exchange appear personal. The only feeling you should have is a desire to help the other person. If you are feeling angry, anxious, or embarrassed, stop. Connect your head to your heart. Discuss what the person is doing and what they can do differently. This is not about who they are.



    3. Ease Your Way In

    In any conversation that deals with personal issues, it is best to ease your way in while not misleading the person about the subject under discussion. One good route into the personal is to start with clichés, such as “How’s things going?”, then move on to facts, proceed to their views, and finally to how they feel. Do this without skirting around the issues or trying to sneak the issue in under the guise of something else.



    4. Link Your Feedback to a Business Issue

    If you are the team leader, you need to relate everything in the conversation to business issues, e.g. “Your appearance (manner; hairstyle; hygiene; grooming; attitude) isn’t what our customers expect from a business like ours”. While they may want to explain why they are behaving as they are, “why” is not what it’s about. Acknowledge their reasons, but don’t go there. For you, it’s more about “what” – what they are doing and what they can do differently.



    5. Have a Neutral Spot Where You Can Both Go If Things Become Awkward

    If people become defensive, you’ve likely hit a raw nerve. It’s at this stage that you need to back off by going to a neutral third spot where you can both look at the behavior dispassionately. Don’t challenge them by saying something like, “Your personal hygiene needs to be improved”. Instead, say something like, “Let’s try to figure out why you and I see this issue differently”.



    Difficult Conversations: You Can Succeed

    Difficult conversations are unavoidable in the workplace but, given the right approach and the right skills, they can be managed. You should aim to put emotions, stress, and personal issues aside and bring behavior, performance, and the business center stage. Keep your composure, be compassionate, and be determined to create a successful outcome.

    Whatever you do, don’t avoid these conversations otherwise the issue will grow and fester. It will impact more of your business operations than you know. Develop a plan of action before having these difficult conversations and you, the employee and the business will be much better off.

  • 5 Sales Myths to Get Over-NOW!

    5 Sales Myths to Get Over-NOW!

    Don’t think of sales as a special, natural-born talent, and other misconceptions that are getting in your way.

    People who are afraid to sell fail at it. That’s a fact. Fear makes you stumble through your pitch, freeze up when you hear objections, and miss opportunities to close the deal. So how do you sell if you are one of those people who cringe when it’s time to make a pitch? By changing the way, you think about sales. Get over these five misconceptions to modify your mindset, and you, too, can be a successful seller.

    Myth #1: “I am not good at being pushy–and salespeople need to be.”

    Think about the best experience you, as a customer, have had. In that instance, did you find the salesman pushy? Doubtful. More than likely, you thought he was informed. He probably knew a lot about his product and was able to answer all your questions. When you are ready to sell, keep that personal experience in mind. Do your homework before you make a sales call. Know all the advantages and disadvantages of your product and your competitors’ products before you pick up the phone or arrive for the appointment.

    Myth #2: “I don’t know how to reach the person who buys my product.”

    While the person answering the phone may not always be the person who makes the final buying decision, they can often provide you with great insight on the business itself. Don’t see them as an obstacle. Engage them with a few open-ended questions about the business that have to do with your product. Most people are happy to be considered important enough to inquire with, and willing to give you valuable perspective that can help you structure your approach with the end decision-maker.

    Myth #3: “I don’t want to bother the customer.”

    You are bothering a potential customer only if you are calling someone for whom your product has no value. If you know the customer can benefit from your product, he should be happy to hear from you. Structure your call around how your product or service can be of use to your customer. Can the product save them time? Can it save them money? Can it change the way they live or work? If you can answer yes to at least one of these questions, you have not only the right, but also the duty to contact your customer with the good news–and sooner rather than later.

    Myth #4: “I am not fast on my feet.”

    Stop worrying about what you are going to say and focus instead on what the customer will be able to tell you. Think about each call as a fact-finding mission. Your job is to ask questions and then listen carefully to the answers the customer provides. If you already know your product well, you will be able to easily explain how your product can address the needs the customer outlines for you. Sales is not about being fast, it’s about being thorough.

    Myth #5: “I can’t find the right words to close the deal.”

    Don’t be shy about taking the final step and asking for the sale. Find out when the customer will be ready or able to purchase your product or ask how soon they imagine wanting to get the benefits of implementing your service. If you have adequately shown the customer how your product can be useful to them, the deal should be easy to close.

    All of these myths are obstacles that otherwise competent salespeople create for themselves. Stop thinking about sales as a special talent that only “natural-born salesman” possess. There is no reason to fear making potential clients aware of the great product you offer. Selling is only the process by which you call on the right people and match them with the right product.

    Now go out there and sell.

  • What did you learn in 2023?

    What did you learn in 2023?

    What lessons did you learn this year?

    Were they positive lessons? Or negative lessons?

    Recently I read the Fast Company magazine on their top 30 most productive people, and I found some very interesting similarities within ALL of these interesting people.  Here they are (in no particular order):

    • They all get adequate sleep. Anywhere from 6 to 8 hours. If you have not been exposed to the mounds of research showing that sleep is very important for us, then here is a summary. You need to get at least 6 to 9 hours of good REM sleep per day. Being sleep-deprived and proud of it is not a positive thing.
    • They all have set schedules made in advance. They know before they go to bed what they are doing the next day, and then they review it in the morning to stay focused and productive.
    • They all have filters on their email and social media. Having a set routine on when they look and respond to emails as well as setting up filters to avoid junk improves their productivity. Same with social media. They all stated they do look at social media, but narrowed down which sites they look at, for what reason, and only in small doses.  They are not scanning Facebook looking for cool GIFs.
    • Most of them exercise. They do some form of exercise, whether it be yoga, working out, etc. Some of them even told us their food habits, which works well for them.
    • They all read – BOOKS. Yes, real paper books.  Studies have shown we retain and process words better on paper than on a tablet, computer, phone, or any other electronic device.  So, set some time out of the day and read.

    Speaking of books. I do a mix of real paper books along with audiobooks within my schedule. Do yourself a HUGE favor and stop listening to the talking heads on the radio while you drive and educate yourself with an audiobook. As Brian Tracy says, turn your car into a rolling university by listening to books while you drive. In 2023, I have read/listened to 67 books.  Many times, I will be reading one book and listening to another in my car.

    Here are some great books that I read/listened to in 2023 (in no particular order):

    • Think and Grow Rich lost secret – Vic Johnston.  This is a great expansion to think and grow rich with a lot of deeper insight into the original book by Napoleon Hill.
    • The One Minute Millionaire – Mark Victor Hansen. Great insight into how to achieve extraordinary wealth and success. Easy to understand examples of wealth creation.
    • The Coaching Habit – Michael Stanier. If you own/lead a business or manage anyone, then this should be on your reading list in 2024. It provides great insight on how you can be a better leader/manager and get more out of your people just by asking great questions.
    • Power of Habit – Charles Duhigg. You may have heard that to form a habit, you need to do it for 21 straight days. This book is right up that alley and gives some great advice on how to develop that positive habit a little easier.
    • ABC’s of Success – Bob Proctor.  An older book, but still very relevant today. Great for new business owners and those business owners looking to get a reboot within their business.
    • Think and Grow Rich – Napoleon Hill. This is always on my annual reading list and it should be on yours as well.  Reading this “Workbook” every year will keep you on your path to success.  Get into a mastermind group to get the most out of this book and improve your life.

    No matter what, we all have learned something this past year. If you haven’t learned one or more new things, then make a plan to learn something new in 2024 and put it into practice to grow your business, or improve your life, maybe move up in the company you work for, get a new job, mentor someone, share your time by volunteering for an organization that you have no affiliation with.  Just learn something new.  I learned how to use a new CRM in 2023.  What did you learn?

    By continually learning you are growing as a person.  Right now, decide what action you are going to take to learn something new in 2024. Read more real books. Take an educational class. Learn a new computer program. Learn martial arts. Just learn.

    I wish you much learning success in 2024.

    Let me know what were your favorite books that you read/listened to in 2023 and why.

  • Successful Activities for Growth

    Successful Activities for Growth

    If you are serious about GROWING your agency and achieving whatever GOALS you have, there are some simple but effective activities you MUST adopt, or you simply will not achieve the level of success you desire.  In any sport, athletes have coaches who constantly observe their performance and recommend changes to maximize the performance and success of the athlete. Oftentimes even professional athletes will subconsciously make small changes and get away from the correct “basics” which in turn will hamper their performance. More often than not, these changes to “The Basics” are not monumental but when proper adjustments are made, they have a significant impact on the performance of the athlete. 

    Our business is no different and if you want to achieve a higher level of performance than you currently are at, the following items are critical to adopt (they are all about the basics) and will move you to a higher level of performance but, only if you accept the fact that YOU must make some simple changes. 

    Keep Score-You WILL NOT WIN unless YOU KEEP SCORE

    1. You must set some realistic GOALS and Track the following:

    2. Marketing activity levels:  Use a CALL SHEET to track your current activity level. Most of you will be surprised at how few times you actually make (proactive outbound calls) to attempt to make new sales. This sheet is for YOU and YOU ONLY.

    3. Quotes:  Use the QUOTE TRACKER and AGM to see how many “new quotes” you are preparing every week/month. Chances are, if you don’t quote you won’t sellJ

    4. Sales:  Use a SALES RECORD BOOK to see how much new business you get from proactive activities and where you are monthly compared to your GOAL.

    5. Growth:  Use the AGM tracker monthly to see how much growth you have versus your growth goal. If you know where you are at you will know if adjustments are needed.

    6. Agenda:  Use on EVERY client/prospect meeting to make sure you ask ALL the right questions and take advantage of cross-sell opportunities and REFERRALS.

    These may seem “over basic” to some of you, but I CAN PERSONALLY GUARANTEE if you commit to and make these simple changes you will have a better understanding of your business and you will make wiser choices in terms of marketing and daily activities.  Ultimately, YOU WILL BE MORE SUCCESSFUL! What gets measured gets attention and what gets attention gets DONE.

    Now is the time to make these basic changes and start to FOCUS on the activities that will improve your performance, your business, and your bottom line. Let’s work together and get it done.

  • Don’t stop working during the holidays

    Don’t stop working during the holidays

    The Holiday Season is upon us and for sales professionals and sales managers, this time of year adds special challenges for maintaining focus on sales productivity.

    Being an entrepreneur has lots of challenges between Thanksgiving and New Year’s Day. The familiar music, parties, seeing old friends, and spending time with family. In the midst of a joyous season, the sales environment can be brutal.

    During the holiday salespeople and business owners struggle to maintain activity targets while prospects and customers routinely put off decisions until the New Year. The good news is, that despite the challenges, you can take control, maintain your focus, and still close deals. The key is in staying true to the fundamentals of selling and maintaining self-discipline combined with a sprinkle of creativity.

    One of the hardest things about selling during the holiday season is getting customers to act on buying decisions. They say they just want to wait until the New Year to make any decisions. To them, it makes logical sense to wait. Far too many salespeople willingly accept this excuse as logical too. However, if you’ve been around selling long enough you know, by the time you get to January, most of these deals will be cold.

    To have any chance of closing these deals you have to strike while the iron is hot. You cannot allow emotions to wane. So, during this time of year, you have to give your prospects and customers a more compelling reason to make a decision now than to wait until later. This means getting creative with your offer, price, value-added services, or signing bonuses. You may have to give up more to get the deal done than during other times of the year. 

    In sales, like it or not, activity is everything. If you are not prospecting, questioning, presenting, and closing you will fail – no matter what time of year it is. Of course, with all of the wonderful (and not-so-wonderful) distractions of the holidays, it can be easy to slack off, and let your self-discipline slip away from your normal daily routine. 

    This slip has two consequences. In the short-term, it hurts your closing ratio during December. In the long term, it impacts your sales pipeline during January, February, and March which can have a major impact on your future income.

    To keep this from happening to you, you must sit down with your daily planner right now and ensure that you have your calendar blocked properly for daily prospecting and lead generation, as well as information gathering, presentations, demos, and closing meetings. Take into account all of your holiday activities and build them into your planner. You may have to do some workarounds, but the key here is to get everything planned out in advance. To stay on track, set daily activity targets and commit to reviewing those targets each morning and afternoon. You will be amazed at how powerful this planning process is for keeping you on track and focused during the holidays.

    Most importantly, by planning and developing creative ways to close more business, you will find that you feel less stress, cash bigger commission checks, and have plenty of time to enjoy the holidays with the ones you care about the most.

    One thing I cannot stress enough is to be open as much as possible during the holiday season and answer your phone. Just that alone will separate you from the rest of the pack. Keep moving forward, do not take the season off and your business will benefit in the first quarter of next year.

  • The Perceived Value of a Chamber

    The Perceived Value of a Chamber

    The primary goal of all chambers of commerce is to obtain new members and retain their membership base. Everything else is secondary – the lead/referral groups, ambassador programs, public forums, awards, networking, mixers, advocacy, government forums, leadership programs, boards, committees, and philanthropy are all secondary and even tertiary.

    Without members, none of those program’s matter. Members are the lifeblood of all chambers no matter in what town, city, or country they are in. Therefore, the CEO and chamber staff should be respectful and thankful for their members (AKA Clients).

    Having been a member of many different chambers they all have the same properties. Usually, a dynamic CEO, some self-serving staff, some caring engaged staff, similar events/programs, and of course the cliques within the membership and staff.

    The chambers all bank on those non-active members. You know, those members that never participate in anything complain they don’t get any business from the chamber but keep paying their membership fee. Why they keep paying is for another time.

    The chamber has a love/hate relationship with these types of members. The staff complains about those non-participating members but loves them around renewal time. The chamber is always wondering how to engage them in the chamber but fails to do the simplest thing in the world. Ask those members what they would like to get out of their membership.

    How do I know this? Well, a few chambers along with a few other networking/referral groups had me investigate their programs on why membership engagement is declining. What I found out could be related to any social, fraternal, industrial, or trade group/association. The results were always the same, which will be covered in another blog.

    Chambers need to show value to their membership base – real or perceived. The real value may be that the chamber is your advocate in getting the zoning changed for your business to expand. Going through the normal process may cost you thousands and thousands of dollars and lots of aggravation. The chamber could use its influence with the local city/county/state officials and assist you with that zoning change. The chamber could even set your business up to be a preferred vendor for a large company that is moving into your area since they were actively engaged in getting that company to move to the area.  These are real dollar values.

    The perceived value may be those networking events. The members love them because they get to network with other business owners to create long-term relationships. I say this type of event is preserved value because if the member added up all the time they spent at this event throughout the year (including travel time), they multiplied that number by their hourly rate (annual gross income divided by 2,080 (work hours in a year)) and add all the fees or costs associated with this one event. That number is usually greater than the total amount of business they received from that event.

    I’ve presented this preserved value to many different groups and the audience always says, “No Way!” and then proceeded to argue with me that they are getting real value out of that event.

    I just ask them what their return on their investment (ROI) for that event is not even taking into consideration their annual fee. The answers are usually made up of lots of embarrassment in their voice.  Don’t be embarrassed. This is because 99% of business owners do not measure this activity. They should be tracking costs versus income because this program is a marketing activity.

    Now if they measured this activity, it would be a “real value” and not a “perceived value.”

    For an experiment, years ago, I tracked all my costs associated with one chamber including all membership fees, my time, all additional chamber costs (lunch and learns, award programs, donations, etc.), as well as all direct sales to fellow members and all sales from member referrals. This was easy to track since I asked every customer how they heard about us and put that data in the point-of-sale system.

    The results were shocking. That membership was totally a perceived value, not a real value. I was very active and engaged with the chamber and the other members. I had to drop that membership because it was a smart business decision. Other chamber memberships have only had perceived value and I have stayed a member because I really enjoyed being part of that chamber, its members as well as its staff. In another chamber I was in the results were completely different. I had a 5x ROI. Yes, I renewed every year in that chamber.

    So, if you are thinking about joining a chamber, think about what you would like to get out of your membership-obviously, sales is the number 1 answer, or are you looking to network and build a referral sales system? Talk with the Chamber CEO and let them know what you’re looking for out of your membership. Only the expanding chambers will ask you, all the others you must tell them because they will never ask you. I am a huge supporter of chambers, but every chamber has a different agenda (political, social, community, etc.) and you need to find the right chamber that fits what you want out of the chamber.

    Measure your ROI on your chamber membership – the results may shock you.

  • Seven Idiot-Proof Marketing Strategies That Will Skyrocket Your Sales and Profits

    Seven Idiot-Proof Marketing Strategies That Will Skyrocket Your Sales and Profits

    Business owners are experiencing some of the most turbulent times in history. Inflation, Pandemic, Gig-Economy, the Great Resignation, etc. The Internet has created a whole new economy. And this is just the beginning…

    I get asked all the time, “What are a few marketing strategies that I should be doing right now to grow my business?”

    This a logical question that every business owner is asking.

    Here are just a few simple marketing strategies that will skyrocket your sales and profits.

    Idiot Proof Strategy #1

    Create A Marketing Parthenon

    A Marketing Parthenon means having multiple different sources of revenue and lead generation instead of relying on just one and not 100’s.

    There are literally thousands of different marketing strategies you could be using to grow your business but only a few that you need to do consistently that will allow you to make all the money you desire. It’s sometimes hard to find just 3-4 strategies that bring you the highest ROI. Most business owners are trying around 15-20 marketing strategies and are struggling with keeping up with all those strategies. Look at your current marketing strategies that have increased your business the most and just stick with those. Lose the rest.

    For example, let’s say your primary method for generating new business is through direct mail.

    What happens if, for whatever reason, your postcards, fliers, or FREE Reports stop working tomorrow? How will that impact your business?

    The same thing can happen to you if you don’t diversify your business.

    Start now by conservatively testing other methods of marketing so that if one method stops working, it won’t put down your entire business.

    Idiot-Proof Strategy #2

    Consistency

    This one seems so easy, yet so many people fail to be “consistent” in their marketing efforts.

    For example, we get calls all the time saying things like “I just mailed 200 postcards, now what do I do?” The answer’s pretty simple…

    Mail 200 More Next Week!

    You can’t do just one mailing, run just one ad, do just one joint venture, and expect blockbuster results.

    Marketing doesn’t work like that!

    Create a marketing plan and a marketing budget for the year and stick to it.

    For example, maybe your plan calls for mailing 200 postcards a week, developing, and maintaining an internet website, running 2 small ads a week in local newspapers, and setting up one new joint venture per month.

    If that’s your plan, you must stick to it.

    Over about 90 days, you will create momentum, and sales and profits will start to roll in.

    And if, for some reason, one of your marketing methods stops working…

    Change Your Approach!

    Don’t just give up on direct mail or advertising entirely – test a new ad or sales letter.

    Whatever you do…

    Be Consistent!

    Idiot-Proof Strategy #3

    Sequenced Mailings

    This is probably the most important marketing strategy you could implement, yet very few marketers have put systems into place to allow them to tap into the power of consistent sequenced mailings.

    There was a famous marketing study done several years ago that determined that over 70% of all people who respond to an advertisement (or letter) will ultimately buy the product or service being offered.

    Here’s the interesting part…

    Almost All of Those People Will Purchase The Product Or Service From Someone Other Than The Original Advertiser!

    Why do you think that is?

    I’ll tell you why… because people buy when THEY are ready to buy not when YOU are ready to sell.

    So, what does all this mean to you?

    It means that sending out one FREE Report to a leader is not enough.

    When a lead calls an 800# to get a FREE Report, all they are basically saying is that they are interested in buying what you have to offer (but NOT necessarily ready to buy yet).

    “Yet” is the important word here. This means that at some point in time, they will be ready to buy, and the company that gets the sale will be the one who stayed in front of them until they were ready to buy.

    Idiot-Proof Strategy #4

    Monthly Newsletters

    Do you send out monthly newsletters to your clients?

    If not, why not?

    Did you know it’s far easier to re-sell an existing client than to sell to someone who doesn’t know and trust you?

    Did you also know that you lose 1/12 of the value of a client every 30 days you don’t communicate with them?

    So, knowing these two facts, what’s the easiest, most profitable way to maintain relationships and re-sell existing clients?

    You guessed it… you’re reading one now.

    So, if someone becomes a client after reading a FREE report, offer them more FREE reports on other things that you offer.

    But whatever you do, make sure you keep in touch with your clients at least once a month!

    Idiot-Proof Strategy #5

    Create A Back End for Your Business

    As I said earlier, it’s far easier to re-sell to an existing client.

    It’s also…

    Far More Profitable!

    Think about it…once you’ve spent the high upfront costs to acquire a new client, it’s relatively inexpensive to send them a letter promoting another product or service.

    The list is endless. The sky is the limit.

    Now it’s up to you to either offer these services yourself or set up Joint Ventures with other companies who already offer these services and split the profits.

    Idiot-Proof Strategy #6

    Testing

    It always surprises me how few business owners and marketers actually “test.”

    For example, have you ever tested one price against another to see which price pulls the most sales?

    I’ll bet most of you haven’t.

    Well starting today, here’s a brief list of the most important things to test:

    1. Headlines (in ads and sales letters)
    2. Price
    3. Guarantees
    4. Offers
    5. Mailing Lists
    6. Newspapers

    And the list goes on. There are an endless number of variables you can test in your business.

    Here’s the exciting part: One “minor” change can have a major impact on your business.

    For example, let’s say you test charging $700 instead of $500 for your services and your sales remain the same. Let’s further assume you’re selling approximately 100 new clients a year.

    The $200 extra dollars per client multiplied by 100 clients or …

    $20,000 Extra Dollars Per Year with No Extra Work on Your Part!

    That’s the power of testing. Put it to use in your business today.

    Idiot-Proof Strategy #7

    Creating A Deluxe Version of Your Service

    Airlines have “First Class” tickets. Nightclubs have “VIP” rooms. Hotels have “Suites.”

    Are you starting to get the point?

    Give your clients more than one option. Offer them the “No Frills” service for one price, and the “Premium” service for a higher price.

    Add extra bells and whistles to the “Premium” service and create a much higher “perceived value” and I GUARANTEE most of your clients will choose the “Premium” service.

    You want to give your clients a “Yes” or “Yes” decision NOT a “Yes” or “No” decision.

    So, if you aren’t already offering a Deluxe service, start doing it immediately!

    What are you going to start doing today to create a marketing machine that increases your sales and profits? It doesn’t have to be 100 different marketing strategies. Start with one, be consistent with that strategy, test it, measure it, adjust it, and profit from it. Then start with the next one.

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and conducts workshops and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • TODAY!

    TODAY!

    There are two days in every week about which we should not worry, two days which should be kept free from fear and apprehension.

    One of these days is Yesterday with its mistakes and cares, its faults and blunders, its aches and pains.  Yesterday has passed forever beyond our control.

    All the money in the world cannot bring back from Yesterday.  We cannot undo a single act we performed; we cannot erase a single word we said.  Yesterday is gone and should be forgotten.

    The other day we should not worry about is Tomorrow with its possible adversities, its burdens, its large promise, and poor performance.  Tomorrow is also beyond our immediate control.

    Tomorrow’s sun will rise, either in splendor or behind a mask of clouds—but it will rise.  Until it does, we have no stake in Tomorrow, for it is yet unborn.

    This leaves only one day – Today.  Anyone can fight the battles of just one day.  It is only when you and I add the burdens of those two awful eternities – Yesterday and Tomorrow – that we break down.

    It is not the experience of Today that drives us mad – it is remorse and bitterness for something which happened Yesterday and dread of what tomorrow may bring.

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and conducts workshops and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker