If you’ve been in the business very long, you already know first-hand what I’m about to say…it’s tough out there. In my 30+ years in business, I’ve learned there are five vital pieces to ANY successful business venture: Marketing, Sales, Service, Administration and Leadership. When you have all these pieces, and you do each well, you will build your business quickly and be super successful! Here’s how:
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Marketing – Effective marketing results in people wanting what you offer. Give something free. This will build your list. Sell from there. Get a name, snail mail and email address from EVERYONE!
Sales – Six words cause closing to happen every time: what, what, why, why, how, now. When heading into selling anything, keep these words in mind and close the deal every time.
First, find out the person’s story, where they are from, how connected they are to the benefit of what you want to sell. Uncover what’s going on with the person.
Next, find out what they want. When we ask, “What made you decide to (buy my specific product) today,” we’re discovering what they want.
Next, why do they want it? THIS IS LARGELY WHERE THE SALE IS MADE OR LOST. Uncover a person’s passion and as long as what you’re selling provides what they want, they’ll buy because you tapped into the emotion.
Why haven’t you done it yet is the next question, where you uncover and dismiss any hidden obstacles. Pay attention and let the prospect tell you exactly why they haven’t purchased yet. This is where you describe your solution and show how it’s the answer to their problem.
Finally, what will you do NOW to get this process started? You always need a call to action. Make an offer so they can say, “YES!” Regardless of what you ask them to do, CLOSE for something!
Service – Keep them involved and keep them forever. We say thank you in fun and creative ways so people continue purchasing from us. A frequent buyers or visitors club is one way. Contests for whoever brings in the most new customers is another. Reward them for being a customer.
Administration – Smart Numbers tell you exactly how the business is doing. Watch them and let them talk to you. Keep monthly accrual and cash statements. Make sure a proforma exists for all departments. Look at P&L’s monthly. It’s also wisdom to do a business evaluation regularly.
Leadership – Four components bring about incredible leadership: inspiration, training, accountability, and reward. Inspire yourself and inspire your team. Train them effectively or take them to someone who can. Be in it for them to succeed. Hold them accountable and refer back to what was agreed to. Praise for jobs well done and goals accomplished. When the people you lead can see opportunities for growth, more financial reward or other perks, the result is loyalty and devotion to the team’s goal.
Leaving a million-dollar legacy has to do with more than dollars and cents. Balance is invaluable! When you combine your passion with your career…the result is a million-dollar legacy. It’s about WHO you are, not just what you do. Now, go Build Your Business Brilliance!