Serious Entrepreneurs Need To Understand That Being Smart Is Simply Not Enough!

 

Any idea “how many ” MBA types not only open (or or offline) new businesses  (every year) and then eventually earn a real sustainable profit? Me either, but you have (no doubt) heard and unfortunately will continue to read and hear about that staggering statistic which reveals that 88% of all new businesses (on or offline) will be closed within 60 short months (five years) or less!

You’ve heard those dreadful stats,right? Well guess what, some of those failed entrepreneurs were incredibly smart (and I might add) extremely well educated men & women!

That’s correct! Some of those well educated Harvard MBA and Stanford educated men & women failed in business just like so many others do! So if the failure rate among them is at an alarming rate!

What does that say about the rest of us, if we don’t happen to have a prestigious degree from the likes of the famed “Wharton school of business ” or good old Harvard and or some other well respected Ivy league house of knowledge!

Well, let’s get something straight, your long term chances for success in business and or likelihood of failure in the business (make that) the passion of your choice, has far less to do with whether or not you graduated from this Ivy league school or that one and or whether or not you’ve got super intelligence or not!

If it did, far more incredibly bright men and women with prestigious degrees in hand, would have far better track records in business, don’t you agree?

 

For All The Serious Entrepreneurs That Think Being Smart Is Enough To Guarantee Success In Business!

(You Are In For A Rude Awakening!)

Just for clarity’s sake! No one is suggesting that being fairly smart and or super intelligent can’t be extremely useful assets to help you (not only start) but eventually grow a successful business or two!

But my friend, you will not simply hang your hat on the fact that you went to a really good school and got straight A’s in a classroom! Because if that’s the case,(unfortunately) you will quickly discover that a highly comfortable classroom setting is not the real world of business! (Not even close!)

Case in point: let’s suppose that you own a local retail nick knack shop. You sell wonderful little (rarely seen) items of joy in your area. And of course you get more than your fair share of local (positive) on or offline word of mouth buzz. And yes, a few of your best repeat customers are fairly active on social media and they routinely mention your business and even occasionally share your link etc.

But by in large, (entrepreneur) if you are under the misguided delusion that simply because you’re academically book smart, that somehow this will automatically translate into fabulous small business and or service provider success!

Think again! Because, the fact of the matter is,it most certainly will not!  However, take a look at an all too common occurrence ( that practically) every small business owner ( but especially) a cash strapped retail small business owner encounters practically every day their offline business is busy attending to customers. Especially “brand new” first time customers.

After exchanging pleasantries at the cash register, your brand new “first time” customer pays and just after you and or one of your extremely valued employees and or associates hands them their receipt and their headed for the door!

You just dropped one of your “golden” (and least expensive) opportunities to nail down a potential (all important) repeat customer!Huh?

Entrepreneur, where is your passive residual income generating (money in the bank) VIP  “bounce back” discount coupon offer? With an ever so slight marketing twist of course?

(FYI: In the interest of both time and space, for those of you not totally familiar with the basic marketing term “bounce back” offer, unfortunately, it will not be covered here! Just check out the link for immediate further clarification.)

You see a Mary plain Jane (vanilla) typical “bounce back” offer definitely beats the heck out of nothing! Granted: But one with a rather subtle marketing twist is even better! Don’t you agree?

Systematically Turn All Important New First Time Customers Or Clients Into a Powerful Long Term Money Making Asset!

Here’s how your typical “bounce back” offer with an ever so slight marketing twist would work; (remember this ) incredibly powerful and market tested strategy typically works best on ‘brand new” first time customers and or clients!

That being the case; no matter (how much or little) they spend the very first time that they shop at your store and or retail shop etc. You or your carefully trained staff (says as casually as possible!) “Oh BTW, Mr. or Mrs. first time customer and or client!”

Because of your purchase today, you’ve automatically qualified for a very special (exclusive bonus offer!) Say what? You have qualified to choose between two extremely exclusive offers! You can either:

1.) VIP new customer and or client exclusive offer # one: Take advantage of our exclusive (although extremely time sensitive) VIP “brand new first time customer” bounce back offer discount coupon.

Which entitles you to save 25%  ( or X %off ) your very next purchase! Provided you come back to the store before the -hand written date- of no more than one month from the date it’s issued comes!  Or it of course expires worthless!

2.)  VIP new customer and or client exclusive offer # two: Or (better still) for just an annually renewable fee of just $7 dollars (or X!) they get this laminated card that entitles them to save 15% on every purchase for an entire year! Plus, automatically save 25% if they come in on their birthday and they save 20% off any purchase, (regardless of the amount!) even if it’s a close out sale and or being discontinued item as well!

Let Your Major Competitors Beat The Worthless Drum About How Smart Or Formally Educated They Are!

Plus, every time they bring a brand new first time customer (over 18) with them to the store, they automatically save 20% off their purchase, and that’s on top of the items sales price!

All that for just $7 dollars or X! And don’t forget, the card is renewable every year! Which choice (if any) would you choose? What’s important here is that you recognize the market tested strategy that’s being implemented here! Huh?

(It’s the old tried and true “alternative choice” marketing concept!) It doesn’t matter to you ultimately (whether) they choose A or B? It’s that they choose! Bingo! But if they happen to choose B, then you know their committed to shopping there more often!

So in the end, hopefully you can see and truly appreciate, really successful entrepreneurs don’t have to be smart! They just need to be semi decent marketers! Don’t you agree?

Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!

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