How Savvy Entrepreneurs Leverage Their Assets Into Multiple Streams Of Income!Part Two
So hopefully after reading, (make that) studying the proven marketing strategies and or basic marketing fundamentals in part one of this ongoing serious.
Hopefully now, you can much better appreciate, how and why, some extremely marketing savvy entrepreneurs, (such as yourself!)
Systematically go about, using and benefiting from, some of their various tangible and intangible assets, correct?
And going so far, as to convert some of their extremely valuable assets, into multiple streams of income.
And how you entrepreneur, can most definitely do it too. Sound like a plan or what?
So How In The World Do Some Extremely Savvy Entrepreneurs consistently Manage To Leverage Some Of Their Most Valuable Tangible And Intangible Assets Into Multiple Streams Of Income!
(And Can You Learn To Consistently Do It Too!)
Ladies & gentlemen, for this particular, and hopefully, extremely eye opening, hypothetical marketing example.
Let’s say (you either), run your very own, extremely popular, women-s hair and or nail salon. Or both.
And or you personally know and or you’re personally related to someone who does. Because if you’re a lady (entrepreneur) in the making, the chances are extremely good.
You either routinely go somewhere, (and either) periodically get both your hair and or nails done, correct? And or you currently know a lady and or ladies who do or did, correct? Ab-so-freaking-lutely! 😀
Savvy Entrepreneurs Learn How To See the Overall Big Picture!
Case in point, let’s say your single location, women’s hair or nail salon, currently has a total of seven chairs including yours.
And since you’re currently open six days a week, but closed on Sundays and all the major holidays. 😀 (Hey you definitely gotta live a little, here and there correct?)
Anyhoo, (please) follow these hypothetical numbers closely entrepreneur, because they will definitely open your marketing eyes (extremely wide!), about the untapped marketing opportunities and or possibilities, just waiting to be tapped into by someone!
So why not you!
Really Effective Lead Generation Strategies And Or Tactics Are Definitely A Potential Game Changer!(And Many Times In More Ways Than One!)
Case in point, each chair in your shop, (including yours!), services on average, about ten women per day, from 9 am – 9 pm. M-Sat.
So here’s the math, seven chairs, times ten women per day (= 70 women per day) x six days a week. Equals a grand total of 420, walking talking billboards! 😀 (7 x 10 = 70 x 6 = 420.)
Or 50 weeks per year, (because) you’re currently closed, a total of two weeks per year. 420 customers per week x 50 weeks per year, equals 21,000 total customers.
Obviously, several thousand of them, are extremely loyal, repeat customers.Who on average, have been with you so far, for the last five years or more! 😀
Entrepreneur Don’t Ever Underestimate How Much Real Influence Your Small Business And Or Service Really Has!
And let’s further state, on average, about 40 percent of your yearly customer base, is brand new first time customers.
So on average, about 8,400 of the local women, who initially sit in your or one of the other stylists chairs, are doing so, for the very first time. (21,000 x .40% = 8,400 first time customers.)
So let’s say, (either you), and or one of the other hair or nail stylist, has a spouse, live in significant other, a son, brother, nephew, neighbor and or in law, whose owns a combination, gas station/auto repair shop.
And they currently charge a ten cent premium over their actual cost, for every gallon of gas they sell.Simply because, as a semi cash strapped small business owner/service provider, their costs are a whole lot higher.
Savvy Entrepreneurs Create Their Own Opportunities!
But obviously, where they make their real long term profits, is on the back end of their business.
Each time they sell a brake job, a tuneup, transmission job, install or repair mufflers etc.So you ask the owner, if they’d like the opportunity, to sell more transmission and tuneup jobs?
Especially if they don’t have to advertise and or spend any upfront, out of pocket cost, in order to get this brand new business! 😀
And in exchange for being introduced to these brand new, first time customers, they only need to be willing to do two things.
You”ll Definitely Be Surprised Where Your Entrepreneurial Ideas Can Ultimately Take You!
You ask them to waive their ten cent premium per gallon of gas, and instead, sell their gasoline, to your extremely loyal customer base, at their actual cost, and or at just a maximum of three cents premium, above their actual cost.
Otherwise, this extremely marketing savvy hair and or nail stylist, will enthusiastically contact some of his major competitors, with the exact same proposition. 😀
So the question is, would they rather break even of a brand new customers, very first transaction, and bank on selling their more expensive services on the back end.
Or have those potential brand new customers, just initially go to their major competitors instead! 😀
And then eventually purchase all the aforementioned services from the major competitors, for years and years to come!
Your Small Business And Or Service Definitely Has The Potential To Grow To The Very Next Level Or Two!
Even though to date, the auto repair shop owners, may not have a concrete idea, what their ideal customers, current total lifetime customer value metric numbers are.
They’re definitely smart enough to realize and appreciate, on average, somewhere between 2o-30% of the first time customers, who initially stop in, just to buy gas, will very often, (at some point), in the not so distant future, upgrade into a customer, who needs a major gross profit producing brake or transmission job performed.
And or they’ll eventually need a new muffler and or a tuneup etc. And there’s major gross front end profit potential, built into those types of services.Right? 😀
1.) Condition #one: They agree to sell all of the current and future hair or nail salon stylist in your shop, gas, at their actual cost.
Plus, give them lifetime discounts, of just ten percent over cost for any type of work they do on their vehicles.
And as the owner of the hair or nail salon, they annually do your brakes, muffler installs or repairs, spark plug replacements,oil changes and the like for free! 😀
And the more expensive jobs, like installing transmissions,brake work, engine repair and or tuneups, at their actual cost.And or just 10-20% above their actual cost! 😀
Your True Entrepreneurial Skills Are Probably Underrated!
2.) Condition # two: And your customers receive the same lifetime savings on gas. Meaning they get to buy it at the repair owners cost.
Plus, they save 20% off, for life, on the various repairs aforementioned.Pretty sweet, is it not?
So you go to the your local printer, and initially get 5,000 two sided business style cards printed.
On side (A.) it just lists your shop, the address, phone number, business hours and the other usual dribble.
However, on side (B.), this where, it says, “Because you are an extremely valued customer of Totally Fabulous Beauty Or Nail Salon!
You are entitled to save ten cents (or X) off the cost of any gas you purchase from Joe’s auto garage and repair shop for life!”
Extremely Sharp Entrepreneurs Maximize The Long Term Profit Potential On Both ends Of Their Business And Or Service!
You’ll discover what happens, when they initially bring the card into Joe’s garage in part three.Okay?
But for now, are you starting to better appreciate, how some extremely savvy entrepreneurs, routinely leverage, some of their most valuable assets, into multiple steams of income?
And how you definitely can too! Great! See in just a little bit, in part three.
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!
As always, if you got any value out of this post, please Google Plus or tweet this.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
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