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Watch How You Spend Your Time and Track the Results of Your Activities

Watch How You Spend Your Time and Track the Results of Your Activities

Does this sound familiar? You spend your day running around and are crazy busy, and when the day ends, you wonder how you accomplished. “Where did they go?” you ask yourself. If this happened to you in a frequent basis, you are like the victim of overwhelmed, poor planning, lack of focus, or all of the above. You are not lazy, it’s just that there is so much to do that is hard to work on one thing at a time. Use the 80/20 rule to help determine what to focus on. Also known as the Pareto Principle, it states that 80% of your results come from 20% of your customers. Pareto’s principle can be applied in a myriad of ways and can be drilled down to estimate that 1% of your customers will spend 50x the amount of your typical customer. Such estimates can be helpful with products planning and pricing. The principle is very powerful and can accelerate your success practically overnight.

In addition to looking at your activities carefully so that you focus on high pay-off once, you need to measure results. One hour invested in crafting a marketing campaign is likely to bring in more sales than moving the boxes in your office. However, I would be willing to bet that you have, on occasion, avoided working on high-payoff tasks for one reason or another.You have to concentrate on activities that bring in sales as one of the most essential things you can do. If you don’t want to engage in sales, you need to find a partner or alternative methods to accomplish this all-important function.

Stop doing Certain Activities

Stop doing Certain Activities

In Addition to outsourcing some task or finding partners to take care of them, there are probably specific tasks that you should stop doing. Period.

We as a whole, realize that there are many tasks and activities that need to be done. What a significant number of us don't understand is that others can be abandoned completely without consequence. You probably have many habits that take up time, however, produce no return. You might need to keep some of them, however, you are most likely unaware of a considerable lot of them and therefore don’t know how much time you are wasting away.

I suggest that you keep a journal of all of your activities for a week or two. You will be flabbergasted at what number of things you are doing that really don't add to the business. Some of these can be done by others, but some should not be finished.

The concept of Open Loops is applicable here. Activities have a cycle: Start, Change, Stop. You initiate a task, something gets accomplished, and you come to an end. When you complete a cycle, another begins. The problem lies in too many open loops that are not closed in a timely fashion, if they are closed at all. Each Open Loop is like an item on your “to do” list and anything still open stays on the list. If your “to do” list gets unwieldy, you are going to be overwhelmed. I am willing to bet that you have tasks from more than a year ago not yet done. Any Open Loop adds to your stress level. Reorganizing your files and boxes in your attic may be an Open Loop. One solution might be to throw them out rather than sort through them meticulously. (Some de-clutter experts argue that other than “must save” information such as financial statements or personal information, you should throw out anything you haven’t consulted in a year or two.) The existence of the Internet makes such a practice more workable, as much is available online that couldn’t be found a few years ago.

Think of Open Loop as unfinished business that you should take care of as soon as you can. The longer these open loops stay open, the more your mind will be filled with “things I need to do.” De-cluttering your mind will allow for clearer thinking and better decision-making. Your brain has a limited capacity to focus, and confusion is the enemy of clarity.

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First Pillar to Success: Message

First Pillar to Success:

Message

The first pillar, the first critical foundation for your business, is your Message. Regardless of whether you offer products or services, your business begins with what you say and how you say it. You need to communicate with the use of words, numbers, and pictures. In our view, the most essential specialized instrument you have is words,as it is the underpinning of your story. Regardless of whether you are primarily a visual communicator, words are often at the foundation of your story.

Words, they have never been more vital in moving beyond confusion and overpower that we get ourselves inundated in.Words and how they are delivered are your most valuable tools for standing out from the crowd. If you don’t know how to build compelling messages and guarantee that they resonate with the passionate brains of your targets, you are destined to failure. It is possible that you will be overlooked, or you will be swimming in what someone calls "an ocean of sameness." People need to see a reason to prefer you and your offering over different potential outcomes.

When you meet some new, here are some typical questions you might encounter:

  • Who are you?
  • What’s your story?
  • What’s so great about your company?
  • What’s so great about your offering?
  • Why should I buy from you?
  • Why should I buy from you now?
  • How are you different from others?
  • How are you better?
  • What’s your unique selling proposition?

If you are promoting your business and someone asks you what you do, you require an exceptionally convincing answer that focus on the listener, not on you and how great you are. As Chet Holmes stated, you are the Producer, and what you think doesn't matter. What’s important is what the Consumer thinks. If they don’t like what you are saying, you are stuck in an unfortunate situation. You can’t just focus on yourself and ignore what you can do for them. You must show benefits to the recipient.

Smart Insights

Defining marketing is a little trickier, and even at Fortune 100 companies, the role of marketing isn't always clear. Often sales take the lead and marketing plays a supporting or subordinate role. That is partly because sales are very easy to measure: either you have orders and cash coining in the door or you don't. But according to Peter Drucker, the father of modem sales management strategies, sales and marketing strategies, marketing drives sales. He wrote the following a long time ago:

"Because the purpose of business is to create a customer, the business enterprise has two-and only two-basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."

Do You Make These Mistakes in Sales and Marketing

Do You Make These Mistakes in Sales and Marketing

Detailed discussion

Many entrepreneurs build better mousetraps only to find out that no one has any mice. Many professionals from lawyers to healers to software developers have a “build it and they will come” attitude, only to be rudely awakened by an indifferent market. If you don’t promote your company and let your ideal target know why you are “the obvious choice,” you will have a hard time being successful.

Sales and marketing are the lifeblood of any company, but in our experience, many companies make these common mistakes that sabotage their success.

1. What is the only purpose of copy in your business?

Answer: “The only purpose of copy in business is to make a sale”, Dan Kennedy. Run advertising with a clear call to action. An add without asking for some action by the reader will not help your business make a sale. However, that request for action should not be to buy now, but something that will as a “natural result” create the desire to buy. As with the best salesmen, “the best ads ask no one to buy. That is useless.”, Claude Hopkins, the father of advertising. Often, they do not quote a price. Ads should be based on the service you provide, with the advantages to the user. They may offer a trial or sample so the customer may prove the value without any risk or cost that does not guarantee results. Some of these ads may seem altruistic but are based on a clear understanding of human psychology.

2. What is the most effective way to determine what your customer wants?

Answer: Optimise advertising through rigorous testing. Unless you test you will not know what your customer wants. If you think you know what the wants you will probably be wrong. They will tell you by how they respond to your ad tests.

3. What is the most important aspect for the initial sale to new customer

Answer: Do not focus too much on monetizing initial sale without considering the long-term value. The first consideration in the initial sales is building a strong relationship of trust with the customer where they know you can help them get what they want and that you care. In the long term that customer may buy more from you and refer others to you. I heard of one pots and pan salesman that based his whole successful career on one cold call which later led to more sales and referrals because he built a powerful ‘part of the family’ relationship with that fist customer and subsequent referrals.

4. Should a business give free samples of their product to everyone they meet to get more customers?

Answer: False. Give only samples to those who have expressed interest, to prove the benefits you have explained to them.

But we do not advocate samples given out promiscuously. Samples distributed to homes, like waifs on the doorsteps, probably never pay. Many of them never reach the house or the housewife. When they do, there is no prediction for them. The product is cheapened. It is not introduced in a favorable way. So with demonstrations in stores. There is always a way to get the same results at a fraction of the cost.

Many advertisers do not understand this. They supply thousands of samples to dealers to be handed out as they will. Could a trace be placed on the cost of returns, the advertiser would be stunned.

Give samples to interested people only. Give them only to people who exhibit that interest by some effort. Give them only to people whom you have told your story. First create an atmosphere of respect, a desire, an expectation. When people are in that mood, your sample will usually confirm the qualities you claim.

5. Assuming you know the cost to acquire a customer, what is more important?

Answer: Again, do not focus too much on monetizing initial sale without considering the long-term value. The first consideration in the initial sales is building a strong relationship of trust with the customer where they know you can help them get what they want and that you care.

6. What is the single most important component of a product or service?

Answer: Competing only on price rather than creating a Unique Selling Proposition that fills a desire and differentiates you from the competition. Per the stats based on extensive research, as discussed in High Performance Selling by Brian Tracy, price is number five on the list of reasons why someone buys a product. The fist reason falls within the Unique Sell Proposition. In other words, how situatable the product or service is to solve a problem.

The common element of the business definitions is that the quality of a product or service refers to the perception of the degree to which the product or service meets the customer’s expectations. Quality has no specific meaning unless related to a specific function and/or object. Unless this attribute is satisfied, all the other attributes have little value. For convenience, they are listed in their order of importance, with price, although an important factor is the least important.

7. Of the following, what must is the most important to do before you try to sell anything to a prospect?

Answer: Do not make it hard for people to understand why they should buy from you. Start by “Finding out what people want, then show them how to get it.”- Bernard Baruch. Then you must have clear message, that demonstrates why you are uniquely qualified to give it to them.

8. If advertising is salesmanship multiplied, what is the single most important attribute of a good salesman?

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Answer: Many people think of advertising as ad-writing. Literary qualifications have no more to do with it than oratory has with salesmanship. One must be able to express himself briefly, clearly and convincingly, just as a salesman must. But fine writing is a distinct disadvantage. So is unique literary style. They take attention from the subject. They reveal the hook. Any studies done that attempt to sell, if apparent, creates corresponding resistance.

That is so in personal salesmanship as in salesmanship-in-print. Fine talkers are rarely good salesmen. They inspire buyers with the fear of over-influence. They create the suspicion that an effort is made to sell them on other lines than merit.

Successful salesmen are rarely good speech makers. They have few oratorical graces. They are plain and sincere men who know their customers and know their lines. So, it is in ad writing. Many of the ablest men in advertising are graduate salesmen. The best we know have been house-to-house canvassers. They may know little of grammar, nothing of rhetoric, but they know how to use words that convince.

There is one simple way to answer many advertising questions. Ask yourself,” Would it help a salesman sell the goods?” “Would it help me sell them if I met a buyer in person?” A fair answer to those questions avoids countless mistakes. But when one tries to show off, or does things merely to please himself, he is little likely to strike a chord which leads people to spend money. Some argue for slogans, some like clever conceits. Would you use them in personal salesmanship? Can you imagine a customer whom such things would impress? If not, don’t rely on them for selling in print.

9.  What is more important in the best advertisements?

Answer: Graphics used to amuse or to gain attention is like anything else that we use for that purpose. It may attract many times as many people, yet not secure a hearing from as many whom we want. The general rule applies. Do nothing to merely interest, amuse, or attract. That is not your province. Do only that which wins the people you are after in the cheapest possible way. But these are minor questions. They are mere economies, not largely affecting the results of a campaign.

The best ads ask no one to buy. That is useless. Often, they do not quote a price. They do not say that dealers handle the product. The ads are based entirely on service. They offer wanted information. They site advantages to users. Perhaps they offer a sample, or to buy the first package, or to send something on approval, so the customer may prove the claims without any cost or risks. Some of these ads seem altruistic. But they are based on the knowledge of human nature. The writers know how people are led to buy. Here again is salesmanship.

10. How long should your ad copy be?

Answer: Some say “Be very brief. People will read for little.” Would you say that to a salesman? With a prospect standing before him, would you confine him to any certain number of words? That would be an unthinkable handicap. So in advertising.

Advertising tells a complete story if the purpose is to make an immediate sale. You see no limitations there are on amount of copy. The motto there is, “The more you tell the more you sell.” And it has never failed to prove out so in any test we know.

Sometimes the advertiser uses small ads, sometimes large ads. None are to small to tell a reasonable story. But an ad twice larger brings twice the returns. A four times larger ad brings four times the returns, and usually some in addition. But this occurs only when the larger space is utilized as well as the small space. Set half-page copy in a page space and you double the cost in returns. We have seen many a test prove that.

Does your business give you all the success, freedom, and happiness you desire?

Does your business give you all the success, freedom, and happiness you desire?

Happiness

If the answer is no, you may be missing Your Unique Selling Proposition, also called your USP, which is a key component that will skyrocket your success.

Your USP, will attract your ideal target client like a magnet. They’ll know exactly what you stand for and why they should … or shouldn’t … do business with you. Most businesses don’t stand out from others in their industry, dooming them to mediocrity.

A USP involves transforming your hidden assets into something the customer wants.

Let me give you an example of how one company developed a compelling USP and transformed its industry. For years, the dominant player in the retail pizza market was Pizza Hut, the Goliath of the industry. They had great pizza, great service, and the three most important things in retail: location, location, location.

But a small company discovered something that Pizza Hut didn’t, by asking one simple question, “What does the customer really want?” After two years of careful study, their simple and stunningly effective answer to that still sounds familiar today:

“Hot and fresh in 30 minutes… or it’s free.”

Domino’s Pizza achieved exponential growth in their market by controlling the location that was most important to the customer…

…their own front door.

By reinventing the rules, David dropped Goliath.

Uber and Air B ‘n B are two recent examples of companies that transformed hidden assets – unused car capacity and spare rooms – into lucrative businesses. They took the ordinary and made it extraordinary.

Most businesses have only a me too, rudderless, nondescript, unappealing business that relies solely upon the sheer momentum of the marketplace. There’s nothing to differentiate them —no reason to buy from them.

We can help you get more from your business … and your life … than you ever thought possible by helping you master fundamentals like your Unique Selling Proposition and your strategy… anchors that tie together all your sales and marketing initiatives so you’re not shooting in the dark.

Rick McCulloch and his partner, have been helping entrepreneurs build successful businesses for decades, working with companies of all sizes in a variety of industries.

In our book “On Target, Mastering the Four Pillars of Business Success we describe the four pillars and show you how to use them to skyrocket your business.

Click here now for your Free copy!

The Four Pillars You Must Master to Grow Your Business

Message – Why buy from you

How to answer your customers’ top of mind question “wiiFM, what’s in it For Me?, everyone’s favourite radio station” ~ Zig Ziglar. For that message to be compelling you must also become a trusted authority that will create an emotional connection with your customer.

Market – Message to Market Match

You must also laser target your market, so you are not wasting your time with the wrong prospect? We call this message to market match.

Your Offer – Your Procduct or Service

You must also have a product or service that your customer wants. There is a simple rule in marketing. Find out what the customer wants and then show them how to get it.

Media – Communicating Your Offer

This includes your social media, your website, and your personal interactions through networking. You must make it easy for your customer to find you, so you spend less time looking for them.

Here is what Kerry George, CEO of the Canadian Imperial Business Network, said about our book “On Target, Mastering the Four Pillars of Business Success”

“Are you looking for marketing answers for your business? Rick and David have identified some compelling and profitable answers. Walk with them through the Hero’s Journey and learn how this fascinating story telling method would be a great way to promote your offering. Learn the techniques of advertising geniuses that have been used throughout this last century. Put together your own powerful unique selling proposition and change the bottom line of your business this year!”

Here is what Spike Humer, CEO, Spike Humer Enterprises, former COO of The Jay Abraham Group said.

“On Target serves as the business blueprint for sustainability, scalability and durability in any economy, in any environment, in any industry. The book is the right message at the right time for every business owner who wants to connect with and convert their prospects into buyers and their customers and clients into long-lasting transactional relationships.”

Click here now for your Free copy!

Clone Test – Does your business give you all the success, freedom, and happiness you desire?

Does your business give you all the success, freedom, and happiness you desire?

Happiness

If the answer is no, you may be missing Your Unique Selling Proposition, also called your USP, which is a key component that will skyrocket your success.

Your USP, will attract your ideal target client like a magnet. They’ll know exactly what you stand for and why they should … or shouldn’t … do business with you. Most businesses don’t stand out from others in their industry, dooming them to mediocrity. A USP involves transforming your hidden assets into something the customer wants.

Let me give you an example of how one company developed a compelling USP and transformed its industry. For years, the dominant player in the retail pizza market was Pizza Hut, the Goliath of the industry. They had great pizza, great service, and the three most important things in retail: location, location, location.

But a small company discovered something that Pizza Hut didn’t, by asking one simple question, “What does the customer really want?” After two years of careful study, their simple and stunningly effective answer to that still sounds familiar today:

“Hot and fresh in 30 minutes… or it’s free.”

Domino’s Pizza achieved exponential growth in their market by controlling the location that was most important to the customer…

…their own front door.

By reinventing the rules, David dropped Goliath.

Uber and Air B ‘n B are two recent examples of companies that transformed hidden assets – unused car capacity and spare rooms – into lucrative businesses. They took the ordinary and made it extraordinary. Most businesses have only a me too, rudderless, nondescript, unappealing business that relies solely upon the sheer momentum of the marketplace. There’s nothing to differentiate them —no reason to buy from them.

We can help you get more from your business … and your life … than you ever thought possible by helping you master fundamentals like your Unique Selling Proposition and your strategy… anchors that tie together all your sales and marketing initiatives so you’re not shooting in the dark.

Rick McCulloch and his partner, have been helping entrepreneurs build successful businesses for decades, working with companies of all sizes in a variety of industries.

In our book “On Target, Mastering the Four Pillars of Business Success” we describe the four pillars and show you how to use them to skyrocket your business. How to answer your customers’ top of mind question “wiiFM, what’s in it For Me?, everyone’s favourite radio station” ~ Zig Ziglar. For that message to be compelling you must also become a trusted authority that will create an emotional connection with your customer.

The Four Pillars You Must Master to Grow Your Business

Message

How to answer your customers’ top of mind question “wiiFM, what’s in it For Me?, everyone’s favourite radio station” ~ Zig Ziglar. For that message to be compelling you must also become a trusted authority that will create an emotional connection with your customer.

Market

You must also laser target your market, so you are not wasting your time with the wrong prospect? We call this message to market match.

Your offer

You must also have a product or service that your customer wants. There is a simple rule in marketing. Find out what the customer wants and then show them how to get it.

Media

This includes your social media, your website, and your personal interactions through networking. You must make it easy for your customer to find you, so you spend less time looking for them.

To get your Free copy of “On Target, Mastering the Four Pillars of Business Success” enter your first name and email below.

Here is what Kerry George, CEO of the Canadian Imperial Business Network, said about our book “On Target, Mastering the Four Pillars of Business Success”
“Are you looking for marketing answers for your business? Rick and David have identified some compelling and profitable answers. Walk with them through the Hero’s Journey and learn how this fascinating story telling method would be a great way to promote your offering. Learn the techniques of advertising geniuses that have been used throughout this last century. Put together your own powerful unique selling proposition and change the bottom line of your business this year!”

Here is what Spike Humer, CEO, Spike Humer Enterprises, former COO of The Jay Abraham Group said.
“On Target serves as the business blueprint for sustainability, scalability and durability in any economy, in any environment, in any industry. The book is the right message at the right time for every business owner who wants to connect with and convert their prospects into buyers and their customers and clients into long-lasting transactional relationships.”

Sales, Marketing, and Money

Nothing happens until someone sells something. Attributed to Thomas Watson, Sr., founder of IBM

Everyone knows what sales is

Sales is what makes the cash register ring, although these days not everyone may know what a cash register is. Sales is revenue, the top line, ka-ching, money in the door, the act of buying, the transfer of money in exchange for a good or a service. The aim of a profit-driven business is to bring in sales that exceed the cost of fulfillment and delivery. As we saw, Profit is what is left over after you subtract Costs from Sales.

Defining marketing is a little trickier, and even at Fortune 100 companies, the role of marketing isn’t always clear. Often sales takes the lead, and marketing plays a supporting or subordinate role. That is partly because sales is very easy to measure: either you have orders and cash coming in the door or you don’t. But according to Peter Drucker, the father of modern management, marketing drives sales. He wrote the following a long time ago:

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

A contemporary of Drucker’s, marketing Professor Phil Kotler, said that the aim of marketing is to make selling unnecessary. Marketing encompasses an entire array of activities that are designed to makes sales easier. Promotion, publicity, advertising, pricing, positioning, branding, messaging, communications, and distribution are only a few aspects of marketing. One issue is that measuring the effect of such initiatives on sales is difficult at best for many companies, especially brick and mortar enterprises. Marketing initiatives are designed to work together, and sometimes you can’t tell whether it was pricing, advertising, or store shelf position that caused customers to buy. John Wanamaker, owner of the first department store in Philadelphia, is famous for saying, “half the money I spend on advertising is wasted; the trouble is I don’t know which half.”

Online, it is easier to measure the effect of the elements of your “marketing mix,” as testing is much more precise. You can run A/B split tests where half of your visitors see one offer and the other half sees another. If one pulls better than the other, then you will see if you can improve the higher performer and discard the lower performer. The line between Sales and Marketing has become increasingly unclear, partly because of the Internet. If you can buy from a company’s website, is it due to Sales or Marketing or both? The answer may be academic, but there is no doubt that you need to focus on bringing in the money if you are to succeed in business.

Money brings with it a whole host of issues. Some of us are not well-prepared to receive money. Some of us are brought up with the idea that having money is bad or evil or that anyone who has a lot of money is dishonest. Such thinking can be a major obstacle on the way to success. Each of us needs to be sure that we are ready, able, and willing to accept money and success.

Pricing is another issue when it comes to money. I know many entrepreneurs who are afraid to raise their prices out of fear that their customers will go somewhere else. Or they themselves wouldn’t pay premium prices, so they don’t think others will either. We can’t go deeply into pricing here, but price and value have a lot to do with each other. Figure out how to add more value to your offerings, and you can raise your prices. You can also include guarantees and other methods of reducing buyer resistance and perceived risk.