(And What You Can And Must Start Doing Today In Order To Prevent It!)
Isn’t it ironic or what, that starting and now running your (so called) dream small business, (and or) service has literally taken you, (of all people) hostage? Please be (brutally honest) here!
Did you think and or anticipate, back when you first started, that practically every liquid dollar, and practically all your available lines of credit, you could reasonably get your hands on and nearly 85% of your non sleep/recovery time would be spent actually running and or otherwise constantly worrying about the future survival of your business!
The truthful answer probably is, _ _ _ _ no! You didn’t expect to literally be married to your business and or service 24/7 did you? And like or not, if you’ve got a spouse, significant other and or kids, sooner or later and one way or the other.
All of the constant and seemingly endless stress, financial and emotional strain of constantly wearing all the different hats of being an entrepreneur.
(Some of which), not only were and you aren’t necessarily qualified and or formally trained to wear), especially in the beginning,they will slowly and systematically begin to take their devastating toll on you!
And sadly, every one else around you, that’s near and dear to your heart!(Nod your cadets, because it’s true!) So part one will only cover the first three, so we can really sort of go semi deep!Let’s take a look..
So What Are The Seven Sinister Ways That Your So Called Dream Small Business Literally Holds You Hostage?
(And What Can And Should You Do Right Now To Free Yourself!)
First of all, if only it was as easy and simple as reading a few highly informative blog posts, (or listening to) a few informative podcasts) and poof, problem solved! So let’s quickly get over this magic bullet “Jack And The Beanstalk” stuff right up front!Okay?
Great! Now then, let’s quickly cover three rather common ways, your dream small business and or service, is quite literally holding you and or a loved one hostage! And let’s also consider “what” you’ve gotta start doing now, if you ever hope to get free! Have a real life again and, ( at some point) actually start enjoying the fruits of your labor!
1.) Sinister way # one: Ladies & gentlemen, stop with the denial already! One of the biggest and re-occurring reasons “why” you are constantly struggling mightily, is because your gross profit margins and therefore cash flow is so razor thin!And therefore unpredictable and unstable!
And one of the biggest and avoidable reasons for that is, you keep with this one (sale) per customer and done mentality stuff!Huh? You’re not strategically and systematically leveraging your first time customer and or client base, to anywhere near its full capacity.
Instead you whined up waiting for them to decide on their own, whether to return and purchase again!(Not good!)
Start Becoming More Pro-active And Stop Being Less Reactive! (And Start Implementing Your Proven Marketing Strategies And Tactics!)
Instead of strategically compelling and or offering them market tested incentives for doing so!(Whether it’s to return to your mobile friendly WordPress blog and or to physically return to your online bricks and mortar store.)
Case in point: Let’s say you run your typical, Mom & Pop corner and or retail type of store. And you sell coffee, tea, cocoa or lemonade etc. You’ve got a couple of proven ways, that you definitely can and should go asap!
(And BTW, these exact same proven marketing concepts and or strategies, with just a little tweaking, (on your part) can and definitely will work equally as well for any savvy service providers as well.) First, if you offer a really large “Big Gulp” size of any of those types of beverages.(And if not, you definitely should be!)
Let’s say you currently charge $4.79, (or X) for your really big and super popular “Big Gulp” type of beverage!
Start Generating Or Creating An Atmosphere For Constantly Generating Long Term Repeat Customers!
Part of the reason you charge so much is because, you’ll be serving them a rather large re-use able plastic mug and after they pay retail for it the very first time, they simply bring it back, (from now on) and now you sell them unlimited refills for anywhere between $.99 cents – $1.99 each!
The point is, now they’ve got a darn good reason to return to your store/shop as opposed to paying retail each time somewhere else, correct?Think long term here entrepreneur!
If they only have to spend $1.99 cents,(or less) to get a “Big Gulp” refill, that normally cost $4.79 everywhere else they can get it. Do you think they’ll spend a little more on other things, that cost your normal retail price while they’re in your store/shop?Bingo!
And will they do it more often? Will you consistently gross more long term profit as a direct result of this incredibly simple, market tested strategy?(I take it that nod means yes?)
Why Some Of Your Best Small Business Marketing Tips Just Aren’t That Complicated!
2.) Sinister way # two: The very next way your dream small business and or service, is constantly holding you hostage, is because you totally suck (big time) at systematically generating referral business!
(And you wanna know one of the biggest reasons why entrepreneur?) It’s because you keep feebly asking for referrals, instead of simply compelling/ethically bribing your best customers and or clients to gladly provide them!Huh?
Case in point: Ever get (two free complimentary tickets) to attend one of those ever popular, for the next 90 minutes to two hours, we’re gonna show you “how to” make a fortune doing X introductory seminar/workshops!
By supplying at least two free tickets, are they not implying that you and I should drag someone else along? But what do you think would happen, more times than not, if they simply asked while you and I were confirming our reservation, if we knew of anyone else they could offer a free ticket to? Bingo!
So let’s say you’ve got a retail jewelry store or a fancy women’s boutique of some kind.Once someone buys anything, for the very first time entrepreneur, that’s where you or your expertly trained associates automatically hand them their laminated VIP annually re-new able) discount card.Say what?
And it automatically entitles them to 15% off for any purchases under $100 dollars and 25% off any purchases over $100 dollars. And 20% off any purchase under $100 dollars, any time they bring any potential, new first time customer with them, whose 18 & over.
(Note: All suggested savings percentages must be subjected to systematic testing and tracking, in order to ultimately achieve maximum profitability!)
Keep Constantly Looking For Some Proven Ways To Ethically Bribe Your Best Customers To Drag Semi Qualified Guests With Them!
Say you run a popular local diner, you might create a coffee and or breakfast club card and or laminated “Family Plan Meal” VIP card, and offer enticing savings, but offer enticing savings whenever at least two adults over 18 come to your place.
Here’s the other thing you could do, to reward your jewelry store customers, for consistently bringing new potential first time customers with them. Offer extremely popular “free” 16 oz. samples of extremely popular women’s perfume, any time your customer brings a brand new, potential first time customer over 18 to your store! Let them choose which one they want!
(Maybe have them all laid out on a specially marked, roped off table with their (rather high), normal retail prices prominently displaced! 😎 ) So they can crystallize the benefits of bringing someone new them each time!
And “if” both your customer and their guest, both join your opt in email (and or) text message list. You’ll give them special “brand new first time only customer discount coupons”, they can use at one of the most popular women boutiques in town!(Please see the next strategy for all exciting particulars!)
Why Be A Prisoner Of Your Small Business And Or Service When You Can And Should Be A Benefactor Of It Instead!
3.) Sinister way # three: And lastly, entrepreneur, you’ve gotta get over your “Lone Ranger” complex you’ve got going on! You, me, we’re not island unto ourselves!
The more serious, dedicated and marketing savvy, non competing entrepreneurs you and I can strategically cross promote and or strategically align with, (aka) joint venture with.
The more gross profit you’ll come to experience and enjoy! Just to quickly piggyback off the last concept (briefly) mentioned above in concept # three.Somewhere in your town, there is an extremely savvy, upscale women’s boutique and or clothing store owner that would love to:
(A.) Consistently supply your jewelry store and or non competitive retail store with free 16 oz. samples of some of their most popular fragrances!
Or (B.) On one of your traditionally slowest days of the week, set up that (roped off display table) right in your jewelry store, and or retail store) and sell their 16 oz. samples at their actual cost or simply give them away, (along with a receipt, for proof of purchase), to any of your customers that spend over $100 dollars or X!
We’ll definitely dig deeper in part two! But for now, hopefully you can and or you are, starting to appreciate “how” your dream small business is definitely holding you and or a loved one hostage! And what you can and definitely should be doing about it asap!Any questions? See you in part two?
Now as is customary during this part of our show.
There’s Literally An Untapped Goldmine Of Referral Generating Possibilities Just Waiting To Be Unleashed!
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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And if you’re currently registered on Linkedin or twitter,and you’re serious about about doing some type of power networking.Let’s get connected asap!
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 profits by as much as 25% in the next 90 days or less.
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Oh wise one you have hit a home run here! I fully admit to suffering from the Lone Ranger complex. In my defense, as a writer and coach “I” am my brand so I’ve always used the excuse that I have no choice but to be hands on. Now that I’m developing online courses I can finally see that while the lion’s share of the work and branding is up front, there is a light at the end of the tunnel once I get some momentum going. Whew!
Marquita Herald recently posted…On the Road with Gander and Operation Fetch
Absolutely M and i definitely hear you!LOL!
But as you say, once we’ve done the heavy lifting, then some of the less
critical stuff, as got to be delegated, so that we can continue to focus
on the things that continually grow our business and builds the brand!
I mean, I’m quite certain, Bill Gates stopped actually making the software
years and years ago!
And in order to build such a mammoth and extremely well functioning business,
he had to develop reliable systems and processes.
Which also meant he had to ultimately step aside and learn
to trust his judgement on picking others to perform all of the tasks he used to!
And I have absolutely no doubt, that with your real world know how, skill, expertise,
determination and meticulous execution, you’ll be just fine!LOL! And then some!
Mark Newsome recently posted…Three Ways Technology Has Actually Taken Your Small Business Hostage!