(So By All Means Choose Wisely!)
So who among doesn’t enjoy being the boss? And why not. You’re the ultimate shot caller. Absolutely nothing takes place in or around the business or service. Which you don’t have a say in, correct?
But then there’s the other shoe to consider. Like your customer/client acquisition strategies. Or whose ultimately responsible for the project delivery as well as the semi complex accounting or legal issues. And choosing to have or initially start out with a professional logo of some kind.
So it’s definitely not all fun and games, is it?
Being Your Own Boss Means You Have The Opportunity To Decide If Your Business Or Service Will Continuously Grow Exponentially Or Ultimately Stagnant!
Entrepreneur as you’re contemplating “how” you’re going to systematically go about inexpensively growing your business or service.
Strictly for hypothetical marketing illustration purposes only. Let’s suppose the extremely hard working young man. Featured in the main picture with this particular blog post.
Let’s say he’s packing an order for an office in the local area. Sadly, if all he or (you do!) Is simply pack your order and deliver it on time. Not only are consistently you working way too hard ladies & gentlemen.
But there’s a very good chance you’re consistently leaving money on the table. In many ways. For example, let’s say your business is some type of small, mom and pop, independently owned food/delivery service.
First of all. Failure to have some type of market tested, extremely time sensitive “bounce back” offer included in each order delivered.
Because strictly from a statistical stand point. X% of those customers. Will re-order within the time sensitive time frame.
And he or at least some of his local major competitors. Could automatically grandfather their best, most reliable repeat customers in. So they either get some extremely low hard cost item(s) at cost. Or free.
Entrepreneur Don’t Just Constantly Work Extremely Hard In Your Business Or Service! (instead Work Extremely Hard On Your Business Or Service!)
Case in point. Suppose this extremely hard working young man. Or you decided to proactively seek out some potential, non directly competing local JV (Joint Venture) partner(s.)
Let’s say you ultimately partner with a local, non franchised retail appliance store owner. And their ideal customer has a total lifetime customer value metric of $175 to $8,500 dollars.
Give or take over the next five to seven year period. (And let’s say a 61% net gross front end profit margin.) In any event. What if the appliance retailer were to purchase at your actual hard cost. 9 or X number of different large sodas.
And six or X number of different side orders. The retailer pays you or your major competitors
X number of drinks for the order for a local law office. And they purchase them at your actual hard cost. So let’s say the law firmed orders 9 different lunches. And six different side orders.
The retailer spends/invests X. Which reimburses you for your actual hard cost. Which is a relatively low cost, correct?
Are You Finally Ready To Take Things To The Very Next Level Or Two?
And in exchange for the retailer paying your actual costs for the items they pay for. You or your major competitors agree to insert a sealed envelop with the words on the outside. In big, bold letters so large music legend Stevie Wonder couldn’t miss.
“You Definitely Deserve This!” Inside will be X number of extremely time sensitive gift certificates from the retailer. And for an additional sweetener.
For each recipient who redeems their gift certificate. And upgrades to paying customer. The food delivery service business owner earns $50 or X number of dollars per lead converted. And the moment they generate 20 or X number of customers for the retailer. They automatically get bumped to $100 or X dollars per lead converted to a paying customer.
And depending on how many of these sealed envelopes they insert inside each new delivery order. The food delivery service owner might create a nice side income of X per week.
For literally pennies on the dollar. Don’t you agree? And depending on “how” many other local, non directly competing vendors. They set up a similar JV arrangement with. They (or you!) Have no converted to a “Performance Based Marketing” strategy.
Try To Avoid Constantly Spending Money Upfront In Order To Promote Your Awesome Products Or Services!
Meaning, they or you only pay when a certain result happens. 😀 Plus don’t forget entrepreneur. The extremely hard working food service delivery owner(s.)
They or you are free to form similar JV arrangements with other local, non directly competing vendors. And be compensated in different creative ways. Are you starting to appreciate how and “why” being the boss means you ultimately get to decide which directions to go?
If Your Business Or Service Is Not Systematically Growing! (Then You Have To Blame The Person Staring Back At You In The Mirror!)
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (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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