How To Scale Your Business Without Relying On Investor Money Or Having Deep Pockets!Part Two
So hopefully after reading part one of this ongoing series. You now see and far better appreciate, how to successfully scale your business or service, without constantly having to rely on. Either outside investor money. Or your local banker.
Now that’s a great position to be in. Don’t you agree? Absolutely. And the best part is. As you systematically scale your business or service. You can do so, for a fraction of the traditional, upfront out of pocket cost.
Another subtle, yet critically important point to remember is. Even though your major competitors, (at least some of them), will be generating more front end sales.Unfortunately for them.
Not all of them, will be increasing their initial front end revenue. Say what? That’s correct. Sadly, as most profit seeking entrepreneurs, (much like yourself) soon discover.
Just because you’ve had an increase in front end sales, doesn’t automatically mean, you’ve also had an increase in long term profitability. Part two is now going to delve even deeper, into not only, the actual mechanics of successfully scaling your business or service.
But making darn sure, you’re increasing your front and back end revenue, as you do so. Sound like a plan or what?
So Now That You Know You Really Don’t Need Outside Investors! (What’s Really Temporarily Preventing You From Scaling Your Business Or Service?)
Quickly picking up where part one left off. As you recall. Your single location, non franchised, retail appliance center. Has (in essence), JV (Joint Venture) partnered with a local, single or multiple location, family orientated, extremely popular Mexican restaurant.
And your (JV) Joint Venture partnership, as it steadily evolves.Will be mutually beneficial for both businesses. Especially since, over the long term.You both, will constantly be generating, not only, some first time customers, for literally pennies on the dollar.
But equally important, the long term repeat customers, and their continuous referrals. Their testimonials.And their constantly singing you or your major competitors praises, both on and off of social media. Entrepreneur. What’s a fraction of this type of long term, pro-active marketing activity worth, to your bottom line? Exactly.
That said. Getting back to the marketing strategy, which was carefully laid out in part one.
You Consistently Plant And Nurture The Right Marketing Seeds Of Opportunity! (And Your Business Or Service Can’t Help But Grow!)
As you recall from part one. Your retail appliance center, successfully formed a strategic alliance, with the owner(s), of an incredibly popular, family orientated,single location, local Mexican restaurant.
And one of the reasons you reached out. Is so you can systematically leverage, their steadily growing, local customer base. Here’s how you’ll initially test, tapping into their constantly growing customer base.
You’re going to place, a closeout model, (or discontinued), 65 -72 inch, (state of the art) flat screen TV in their lobby. Sat what? With a huge can’t miss sign. Which instructs their daily walk in traffic, to enter your free drawing asap.
For a chance to win a TV.Either once a month or once a quarter.(Every 90 days or so.) Plus! Don’t forget. Because you’re extremely marketing savvy. You are also going to have the restaurant owner(s), include a rather large fishbowl or box. And have local business owners and service providers, drop their cards into it.
And once a month or once a quarter. An entirely separate free drawing will be held.Where a 1st, 2nd and 3rd grand prize, local business owner or service provider, will win something really cool, from both the participating local restaurant owners.Plus your retail appliance center as well.
One Of The Reasons Small Business Owners Or Service Providers Constantly Struggle Is Because A Lack Of Reliable Cash Flow!
And remember. Any time one of the restaurant owners customers, orders any type of beverage. The restaurants waiters or waitresses, bring back their beverage(s), plus an Xtra large, plastic cup. Huh?
Initially just for the person actually paying the bill. And of course they’re immediately wondering, what’s up? Correct? Wouldn’t you? And the staff explains to them going forward.
Every time they bring the plastic Xtra large, “Big Gulp” plastic cup back with them. No matter what type of beverage they order. They automatically save 10 or X% off.
However, simply for dragging at least one person with them, whose at least 18. Their Xtra large beverage, is just .99 cents.Say what? Of course, because your ideal, retail appliance center customer, has a total lifetime customer value metric, of somewhere between $2,500 -$11,000 dollars.
Give or take, over the next five to seven year period.You can easily afford to initially invest in at least 1,000 – or more- of these cups, which you get at cost, from the local company which makes or distributes them. Correct?
The More You Get Out Of Your Own Way! (The More Prosperous You’ll Become!)
Plus, you’ll have the name of the Mexican restaurant, (or participating restaurant), written on the cup.This way, when at least some of the Mexican (or participating) restaurants, extremely loyal customers take the “Big Gulp” cups to work or wherever.
So they can drink their, take your pick. Morning coffee, water or favorite energy drink etc. And their fellow employees, vendors, respected colleagues or associates etc. See the rather large looking cup and see the name of the local restaurant.Well, hopefully you know what starts to routinely happen next? Correct? Absolutely.
Hold on, because coming up very shortly in part three. You’re going to discover, how to scale your business, working almost exclusively, with the local business owners and service providers.
Who also enter your monthly or quarterly free drawing.But don’t initially win anything.Say what? Is that not interesting?
So Are You Finally Ready To Discover How To Scale Your Business Or What?
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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Extremely important note:And if by chance, you happen to know any of the lesser known podcasters,who also target,small business owners,service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers.Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,because it will help you increase your gross profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills. (No matter what your particular niche market is.) It’s a $97 dollar value and it’s free!
