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Category: Business

Money Has a Cost

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When I speak about the “cost of money” I am talking about just that. Allow me to explain it here to avoid boring you by repeating the same definition whenever I talk about it. All money has a cost

Money is either used to make you money or you have lost the opportunity for your money to make you money. Or at least to make you as much as it could.

If you are borrowing money to operate your business this money has a price. The price, of course, is the interest you are paying on the money while you are borrowing it. If you have money that you are holding in the form of cash in a low interest bearing account or short term investment, this money may also be costing you money.

How? Simple. Let’s say you are in a good cash flow situation and you have a cash balance of $50,000. You know this money will be needed for operational expenses in the near future so you let it sit in your business checking account or a short term liquid investment account. Let’s say you are earning 1/2% interest during this time.

It might seem that this money is working for you making you money, and indeed it is. But the question is whether or not this is the most effective use of that money. If your money is in one place it cannot be in another at the same time. Obvious right? Well, if your money is tied up in the bank you must ask yourself – is this the best place for it? Is there another use you could put this money to in order to earn more money?

For example, can you pay some bills off early and take a trade discount of 2%. I will cover this in future articles but for now think and understand money has a cost. If your $50,000 sits in the bank earning 1/2% interest you will earn $250 per year. Now I know I have not factored in compound interest but I want to give a simple example of how you should think.

If you have the cash sitting for 30 days you will have earned 1/12th of this $250 or $21. But what if you had used that $50,000 to pay off bills early and get a 2% discount? A 2% discount on $50,000 is $1,000. A simplistic example to be sure, but even using this you have increased the return on your money significantly.

Leaving your money in the bank had a cost to you. A lost opportunity cost. An opportunity to use this money to make you more money. But you must consider your cash flow, no matter how effectively you might otherwise use your money, you only have so much of it to use and therefore the availability of cash must be considered.

Money does have a cost. If I have used $10,000 to pay an invoice early that offered me a 1% discount I have saved $100. If I used that same money to pay a bill early that offered me a 2% discount I have doubled my return on the use of that money as I have saved $200.

Do you see my point? Now put aside any cash flow questions for a minute while I make another

point.

Now what if I did not pay any bill off early, but instead put that $10,000 in an investment for 12 months paying me 1%? Have I not done well by earning $100 on my money? It would seem so, but this is not the case.

By paying off an invoice early to take advantage of an early payment discount, you will save much more than the discount. When you earn a 2% discount by paying an invoice early, you are earning a return far greater than 2%. Unless you understand this there will be no way you can properly determine whether the best use of your money is to pay the invoice off and take the discount or not.

The formula is simple so don’t despair. Here is the formula:

365 x discount rate

Effective annual interest = —————————————

Number of days payment must be

made ahead of the due date to earn this discount.

So if a supplier offers you terms of “2/10 net 30” what is the effective rate of interest? Well, first

of all, he is offering you a 2% discount if you pay in 10 days. The normal terms are 30 days. This

means that to get the 2% discount you must pay 20 days early.

For this example we are assuming that you would normally comply with the 30 days terms.

For the sake of this example let us say the amount of the bill in question is the same $10,000 we have been talking about. This is what your formula looks like:

365 x.02

Effective annual interest = ————– =.365

20

Your effective annual interest rate is 36.5%. Obviously, even if you had to borrow the money to pay off this invoice your rate of return will be well worth it.

Do not think I am suggesting paying off discounted invoices as the only option you want to look at. I have simply chosen this often overlooked strategy as an example.

You must always consider all your options for using your money. The goal is to seek out the most profitable option available to you at any given time.

Never forget that money has a cost. How you use it can make a great deal of difference to your bottom line.

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Source by Derrick Welch

Views: 0

November 10, 2022
Dealing With Customer Complaints – B.L.A.S.T

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In a restaurant, not so far away, in the not so distant future, a telephone rings, a customer complains… and the battle begins!

Handling customer complaints doesn’t have to always be a battle, with the right tools and responses you can use complaints to your advantage; to help you build your business. B.L.A.S.T is a great tool that is used by companies such as Yum! (Parent company of KFC, Taco Bell, Pizza Hut, A&W, and Long John Silvers). Training their employees in the basics of handling customer complaints. The acronym stands for:

Believe

Listen

Apologize

Satisfy

Thank

How does your company deal with customer complaints? The easiest way to find out is to pick up the phone and play the role of the complaining customer. What happened? If you were an irritated customer, would you return? Using the B.L.A.S.T guidelines, allows you to create a standardized method for dealing with your complainers and turning them into loyal customers.

Believe

This is the cornerstone of handling a customer complaint. Yes, the customer may be lying and be incorrect about their situation. It is important to understand that your customer believes that your establishment has wronged them.

Listen

Stop and listen to your customer’s complaint. I’m not certain whether it’s natural instinct or just plain stubbornness. As soon as a customer starts to complain, we start to think of how we will respond to the accusation before we are done listening, and too often the case, already have the response ready to fight back. Take a second, relax, and listen. On occasion a complaining customer will be rude, angry, and use vulgar language, stay the course and remain calm and level headed.

When the customer is done venting; in a calm, non-judgmental tone, repeat their problem. An example I used in my KFC for a mispacked order:

“What I hear you saying is that, you came in ordered and paid for 10 Pieces of chicken and when you got home, you only received 8, is that correct?”

By repeating the problem at hand, you’ve demonstrated your ability to the customer that you heard and understood their problem.

Listen and clarify. Never defend or justify. The customer doesn’t care if you were shorthanded or if you’re having a bad day, they only care that they get taken care of. No excuses, just solutions.

Apologize

Always apologize even if you did nothing wrong. From your customers’ perspective, they have a legitimate complaint, and they expect an apology. It could be as simple as “I’m sorry we’ve inconvenienced you.” or “I’m sorry I know how frustrating it is to buy dinner for my family, only not to have everything there when I get home” A sincere apology will usually diffuse a lot of frustration that the customer has. There is an exception to this rule though, if a customer calls with a critical complaint, such as food poisoning, don’t apologize, it may be construed as an acceptance of guilt, instead refer to your company’s procedures for such events.

Satisfy

Make it right. Ask the customer “What can I do to make this right for you”? Be the judge of what is fair of course, but allow them the opportunity to feel empowered over the situation. Many times they may ask for the problem be taken care of on their next visit or maybe that you talk to the person who made the mistake and correct them. We used a great system of sending out a personalized postcard apologizing for the mistake, it was a couple of handwritten sentences (yes, many times with spelling mistakes from my team members), but it was personal and always well received. We always gave them the unexpected as well, maybe a free dessert or an extra side dish just to show that we cared about them.

Thank

At the beginning, at the end, in the middle; it doesn’t matter, thank the customer for calling and complaining.

Why? With the simple act of complaining, your customer is telling you “I care about your business and your success”. They are giving you the opportunity to fix the problem and invite them back so they can give you more of their money. Puts a different spin on it doesn’t it? Thank them for giving you that second chance, for letting you know that something in your restaurant didn’t work like it normally does, for giving you the chance to make it right, and for the opportunity not to damage your reputation!

Reputation? I had to throw that one in. You work hard, day in day out, trying the best to make your business the best, and yet one unhappy customer can take it away from you. A happy customer will tell two or three friends about a good experience, but an unhappy customer will tell at least ten friends about their experience and it always multiplies through word of mouth. Case in point, when I moved cross country to my new hometown, I was at a Chamber of Commerce event and being the new person in the group, I introduced myself and what we did. No sooner than five minutes passed did I get a list of 10 restaurants in my area that in their opinion were in “need of my services”. Only one person gave me a good restaurant. I didn’t ask, I was told. To this day I still haven’t been to those restaurants as a customer, why do I want to give them my hard earned money, when they made my new friends unhappy? It may not be a rational thought, but it is human nature.

Will some people take advantage of your kindness? Of course, a rule of thumb I used in my restaurant was:

First time shame on me,

Second time shame on me, but I’m watching you,

Third time… Shame on you and I will make the decision on how I will deal with you as a customer.

Keep track of who calls to complain, names, phone numbers for follow up, addresses for your postcards. Using a binder and tracking your complaints, you will be able to detect and deter those that would take advantage of your new complaint procedures.

Adding B.L.A.S.T to your expanding toolbox of customer service tools will help you in dealing with customer complaints and turn them around so they can tell their friends what great service you have!

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Source by Albert Barneto

Views: 0

November 10, 2022
Are You Letting Excuses Keep You From Becoming a Top Network Marketer?

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Things that are easy to do are easy not to do. In this article, I am going to talk to you about excuses and how they may be keeping you from becoming a top network marketer.

We all have our moments when we don't feel like doing certain things. We are professionals at making excuses for why we don't do these things, but the thing we must remember is that being a professional at making excuses does not pay the bills.
Two of the biggest excuses people have are the excuses that they do not have enough time or money. These are easy excuses to use because they are often true in our current state but do not have to remain true.

I Don't Have the Time

If you do not currently have the time to build your business, that is because you have not allocated the time to build your business. There are other things that are filling your time that you could choose not to do but instead, you choose to do them. Many times, these things are important things but if you say you want to build a business, but you do not schedule it into your week, you are not showing you believe it is that important.

I Don't Have the Connections

Our capital in our network marketing companies are our connections and oftentimes people think they do not have the right connections. Even if this is true, we all have the same access to everyone and if we are resourceful enough, we will be able to get in contact with that person.

Conclusion

Whatever excuses are holding you back, you must give them up and get into action. Excuses don't help you get what you want so give them up and work consistently toward your goals.

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Source by Jessica Lauren Vine

Views: 0

November 10, 2022
Entrepreneurs Need ONE Thing To Succeed – Survivability

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The idea of being an "entrepreneur" is the new "rock star" – millions of young people going off the beaten track in order to try and secure a better future for themselves or their families.

Fuelled partly by the Internet and partly by a changing economic landscape, the young of today are more focused on themselves than ever, unwilling to take "menial" jobs at the likes of McDonald's; instead taking on large amounts of student debt in order to secure as lucrative career as possible.

It's in the midst of this tectonic shift (where barriers-to-entry have been eroded massively, and the world opened up for business) that many have placed "entrepreneurship" … the idea of "working for yourself". Unfortunately, it's most a lie.

If you're interested in this type of thing, the first thing you need to realize is that entrepreneurship is a lifestyle, not a vocation. Most people are not "entrepreneurs", they're merchants (buy and sell products).

REAL entrepreneurship is about doing / building something that's NEVER been done before. This might be something simple (a new flavor of soft drink), or something as difficult as getting humanity to Mars. It is NOT about "selling" products for the sake of it.

What many see as a "choice" between a Dystopic future of student debt, mortgages, auto loans and 40+ years of 9-5, is in fact fraught with the utmost danger and risk. The biggest problem is that no one will help you. You're 100% on your own.

In other words, don't become an "entrepreneur" … you have to either be "born" one (which isn't strictly true), or be so utterly determined to see your ideas come to fruition that you're willing to risk your life on making it work.

This is what most people don't see. They see the accolades, cars, success – they don't see what goes on behind the scenes. It's because of this that I wanted to write this article.

Angela Lee Duckworth called it "grit", Elon Musk called it "chewing glass and looking into the abyss of death" … the one thing that anyone looking to bring their ideas to life is survivability – the ability to persist even when everyone else has either quit or been killed.

Every time you look back through history, at the * true * entrepreneurs … the Galileo's of the world; Magellan's; Sir Francis Drakes … we see the same pattern every time. A world-defining event that THEY survived. This was then brought to the market in some form or another, transforming the way that people live and are able to operate.

What most people think of as "entrepreneurship" … starting a "blog", running a "social media" account or some other menial achievement … is nothing worthy of note.

It doesn't * do * anything. It's paper pushing.

To "become" an entrepreneur is very simple.

Shut up and get to work. Most make the error of telling everybody what they're doing. Not only is this a mistake, but kills and chances of actually completing the task you set out to perform. Move in silence.

In terms of what you "do", this is also simple – focus on completing a task that pays you money. Don't worry about changing the world or anything up front, that comes later. Just get your head down and focus on making more money than the other guy, by producing the * best quality work * you can.

Imbue EVERYTHING you do with excellence – reaching to your highest possible potential to pull it off. This is what it takes to become successful.

What's interesting is if you do this, you end up finding opportunities that come out of the blue. They just appear without actually being forced in any way, allowing you to then develop "systems" which can be used to elevate your work to a new level.

It's these systems which end up being the hallmark of an entrepreneur – having the insight to create * new * systems gives you the ability to continue on your upwards spiral. It's also where the "best" entrepreneurs begin to shine – they typically are dogged enough to understand that putting a "system" out into the world is – by far – the most important aspect to achieving growth in life. This is where the "grit" element comes from.

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Source by Richard Peck

Views: 0

November 10, 2022
Problems Encountered by Nigerian Entrepreneur and Possible Solutions

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The success enjoyed by most industrialized countries can be attributed to the role played by technological innovation and entrepreneurship, both of which continue to drive their economies today. These two factors are seen as key components for the industrialization and development of African countries. The Nigerian government has recognized this fact and has taken measures aimed at promoting and cultivating the entrepreneurial culture in our country. Through the Nigerian Investing Commission (NIC), our government has in the past introduced a policy that required university students regardless of their area of study to take courses in entrepreneurship. While our government is putting extra effort in promoting entrepreneurship in Nigeria, there are still a number of problems that a Nigerian Entrepreneur faces. Below are some of the problems encountered and possible solutions.

* Diversifying the Economy

Though our country’s economy has over the last couple of decades relied heavily on its oil production, we must find ways to diversify our economy and avoid the over reliance on oil. Like other developing countries, Nigeria is facing an increase in its unemployment rate that is now at 6 % and is on the increase, with many graduates finding it hard to get jobs while most of those who get jobs are underemployed. This coupled with the global financial crisis in which massive numbers of employees are being laid off; entrepreneurship is seen as an essential key if we want our country to achieve its ambition of being an industrialized nation by the year 2020.

* Unfriendly Business Climate

Being an entrepreneur in Nigeria requires great determination as practicing and potential business owners are faced with countless challenges. Nigerian’s business climate should be made welcoming to those in the Micro, Small and Medium Enterprises (MSMEs). The role played by these MSMEs should not be underestimated since majority of the thriving businesses fall in this category and for us to achieve our goals, adequate attention and support must be directed towards these institutions. To be able to help and protect entrepreneurs, we must first have a clear idea of the challenges facing our entrepreneurs in their pursuit of making Nigeria a prosperous country.

* Lack of Credit Facilities

Potential Nigeria entrepreneurs go through many hardships when trying to access credit for their businesses. Though there is a wide range of financial institutions that offer business loans, they usually charge high interest rates deterring aspiring entrepreneurs. For instance, major banks have pegged their lending rates to as much a 28% deterring potential entrepreneurs who are mostly low income earners. Other obstacles faced by our entrepreneurs include severe collateral conditions set by banks and other lending institutions. Though our government through the Central Bank and the Banker’s Committee came up with guidelines requiring banks to set aside 10% of their profits for funding MSMEs, majority of these banks have been reluctant to do so. This has led to the emergence of micro-finance institutions which though helpful are not sufficient for meeting the financial requirements.

* Multiple Taxation

One other sensitive challenge that is encountered by majority of Nigerian entrepreneurs is multiple taxation. Although we have a responsibility of funding the government through paying taxes, most of the taxes charged on entrepreneurs are not lawful and have the effect of increasing the cost of doing business. Although Nigeria’s Companies Income Tax Act (CITA) has approved only 39 taxes and levies, there are over 500 various levies and taxes that are imposed by state and local government agents. These taxes are questionable and in the case where they are genuine, they are mostly duplicated and this has the effect of increasing the cost of doing business.

* Poor State of the Country’s Infrastructure

The state of our infrastructure can be deemed to be a nightmare to both entrepreneurs and the rest of the country’s population. With the existing infrastructure deteriorating and in some places it is non-existent; the cost of doing business has tremendously gone up. The state of the country’s road network makes it hard for entrepreneurs in the agricultural sector to transport harvested produce from farms to processing factories. According to a report released by the World Bank, Nigeria’s pace of socioeconomic development and growth is way below what we can achieve. This is mostly because of the erratic supply of electricity which has negatively affected many businesses. The outcome of power problems has prompted entrepreneurs to generate power through expensive ways that have in turn increased their production costs and made their products uncompetitive due to high prices. Our government should put policies in place to perk up Nigeria’s infrastructure so as to promote successful entrepreneurship.

* Failure to Adapt to the Changing Business Environment

Majority of those who venture into MSMEs (Micro, Small and Medium Enterprises) do so because of their need to make money and in almost all cases, such entrepreneurs lack relevant and adequate information about the businesses they engage in. In the event where problems arise, most of these business owners lack sufficient problem solving skills and in the end they find it hard to survive. With the telecommunications sector having grown by about 206.5 % between 2002 and 2004 and is continually expanding, Nigeria has become one of the fastest growing ICT market not only in Africa but also worldwide. This presents a challenge to entrepreneurs who have not embraced technology, and who are now finding it hard to remain relevant in the competitive business environment. For existing and potential MSMEs to survive and be relevant, we must adapt to the changing business environment and embrace technology.

* Addressing the Challenges

Solving the problems encountered requires a combined effort by both the entrepreneur and all concerned stakeholders. As Small and medium business owners, we need to increase our knowledge and skills of the market by acquiring relevant and up to date education particularly in your area of business. Our entrepreneurs need to collect information about their target market by seeking help from consultants and professionals who have experience in the particular market.

One strategy that can be used by our small and medium entrepreneurs to remain relevant and competitive in today’s market is to come up with fresh and creative ideas of doing business. Due to the increase in technology, business is fast changing, thus our MSMEs need to constantly re-invent the way they do business.

There is a great need of creating a strong link between MSMEs and supporting institutions if Nigeria is to fully benefit from such businesses. Though some financial institutions are still reluctant to provide financial assistance to MSMEs, there are some that give out loans at reasonable rates provided the business sounds viable. The key challenge is for our entrepreneurs to prepare sound business proposals. For our country to achieve its goals and stop relying on oil alone, we need to focus much attention needs on the private sector and our government must create a conducive atmosphere for such businesses to thrive and drive the country towards economic prosperity.

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Source by Peter O Osalor

Views: 0

November 9, 2022
Advanced Affiliate Marketing Techniques

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When choosing affiliate products to promote with your Internet marketing business, you want to pick products that cost more so that you make a higher commission per sale.

But you also want to have a whole range of products at different price points so you can keep people buying no matter how much or how little money they have.

For example, let's say you pick self-help as your niche. You should have a bunch of products that cost less than $ 10 – such as eBooks or video courses – because a lot of people seeking to improve themselves don't have a lot of money but still want to buy something that will make them better people.

The 'Profit Ladder'

Then you should have more expensive products in the $ 10 to $ 100 range so that you can offer them to people with more money to spend and also push your customers up the profit ladder. That means getting people to buy increasingly expensive products.

Then you should have some products that are really expensive, such as those that cost $ 1,000 or more. This is to appeal to people who have a lot of money to spend but also to have a big money offer that people can aspire to. A lot of times these types of products are things like personal coaching, or seminars people can attend to become masters at whatever it is they want.

Big money products not only satisfy people's desire to get the best there is, but also provide you with the biggest commissions so you can make the most money even if you only make a few sales.

Niche Statistics

Popularity of Niches

Before you start promoting affiliate products, you want to make sure the products or the niches you choose to work in are popular. You don't want to waste your time working in niches that there aren't a lot of customers. Instead, maximize your potential revenues by only working in the best niches that have scads of customers.

So how do you find out what niches are popular? Like anything else these days, you simply use the internet. There are plenty of places you can go to measure the popularity of a particular niche. The first place I always recommend is Google Hot Trends which lists the top 100 searches on Google during the previous 25 minutes.

Researching Niche Statistics Online

Google is the largest search engine and is used by more people than any other, so it is a reliable source to tell you what is hot at the present moment. Another site is Yahoo Buzz, which shows also shows the top searches but on Yahoo, which uses the Bing search engine. But Yahoo Buzz also gives a little more information than Google.

Two other similar sites are Trend Hunter and Trend Watching. These are more geared toward consumer goods, such as electronics, appliances and other hard goods rather than digital products, which are what you probably will be promoting.

Sources for Niche Data

ClickBank has a lot of information about the products it offers. A similar site that also has lot of data you can use to measure popularity is Commission Junction.

With the affiliate products you promote on ClickBank and Commission Junction, you make a commission every time somebody clicks through and buys that product.

'Cost Per Action'

But another affiliate model is called "Cost Per Action". This is slightly different because you can get paid every time somebody clicks through to a page whether they buy anything or not. Obviously, the CPA amount you are paid is usually less than that of a sales commission, but a lot of CPA click-throughs can quickly add up and make you some real money.

CPA networks for you go check out include Peerfly.com, ShareASale.com, GoOffers.net and CPALed.com.

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Source by Sohan Miah

Views: 0

November 9, 2022
The Five Pillars of Marketing Success

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Does the following give a pretty good picture of your current marketing activity?

You have a website but you’re not really satisfied with it. You go to networking events once in awhile. If someone asks you to give a talk, you’re happy to do it. You post on Facebook and/or LinkedIn semi-regularly. When you find the time, you send an article to those on your relatively small email list. You occasionally set up meetings with colleagues to explore opportunities.

Now there’s nothing wrong with any of those marketing activities. And usually, they will result in landing some new clients.

But this is not the approach that works to get a steady, predictable stream of new clients.

Please don’t tune me out here, thinking, “Well, I really can’t do more than this. I’m already stretched thin. If you give me too much to do I’ll get overwhelmed.”

I agree. It’s not that you need to do more marketing, it’s that you need to shift your marketing paradigm from one of “Randomness” to one that is “Focused.”

Random marketing is just that; it’s all over the place. You do a little bit here and a little bit there on an inconsistent basis. You are trying to keep your face, name, and message in front of your prospective clients but the results are unpredictable.

The Random marketing paradigm is not very effective because it doesn’t gain a lot of momentum. You don’t do enough of one marketing activity to grab the attention of your prospective clients and move them to take action.

The Focused Marketing Paradigm is very different. It’s based on repeatedly communicating very directly to your target market with a very definite end in mind. It gets the attention of your prospective clients and they ultimately take action.

The Focused Marketing Paradigm has Five Pillars

Understand and implement these five pillars and I promise you’ll see a shift in your marketing results.

Pillar One: Focused Goals

A Random goal is saying something like, “I’d like to attract a few more clients to my business.” Not very compelling is it?

A Focused goal is much more specific. “My goal is to land 3 new clients in the high-tech plastics business in the Houston area with an average project size of $30,000 each by the end of the year.”

The more detail, depth, and specificity about the goal, the better. You’ve really thought through what you want to achieve and also have confidence that you could deliver if you did reach your goal. It’s so real to you that you can taste it.

What is the Focused Goal for your marketing?

Pillar Two: Focused Program or Service

Random programs or services are generalized consulting, coaching or training programs. “I offer management consulting and training to corporations.” Kind of vague, right? But this is what I hear all the time.

A Focused Program or Service is more tangible. “I offer the high-tech plastics industry Management Acceleration Programs for emerging leaders in the industry.”

In my business, I’ve always offered programs: The Marketing Mastery Program, the Marketing Action Group, and the More Clients Club. And each program has very specific parameters, deliverables, and objectives. It sure makes intangible services easier to market and sell.

What is the Focused Program or Service you’re offering?

Pillar Three: Focused Target Market

In the above example, the target was the “high-tech plastics industry.” But it’s more common to hear things like, “I work with large companies who want to increase productivity.” This is too general and it makes it hard for clients to know if you understand them and can help them.

A Focused target market is where you are absolutely clear what kinds of people or companies can most benefit from your expertise. And then you articulate that clearly.

I worked with a financial planning company last year that targeted middle class families in the Buffalo New York area. Guess who they attracted to their practice? When people read about who they worked with on their website, they said, “That’s Us!” and called them.

Who exactly is your Focused Target Market?

Pillar Four: Focused Message and Value Proposition

A Random message or value proposition tends to be too general and can be hard to pin down. It avoids making a promise that is meaningful to the prospective client.

Messages such as, “We offer the best service in the industry,” or “Smart insights into great management,” are meaningless to your prospective clients. The value is not immediately obvious.

A Focused message or value proposition zeros in on exactly what your clients get and what it means to them. I admit that this can be the marketing pillar that is hardest to pin down. Ultimately you have to test a number of different things.

For the re-launch of the More Clients Club, my current value proposition is: “Everything Self-Employed Professionals Need in One Place to Attract More Clients.” And now, of course, I’m bending over backward to deliver on that promise.

And a marketing message or value proposition is much more than a sound bite. Your message must permeate every aspect of your marketing, from your website to the emails you send out. Your prospects need to be constantly reminded of the value you offer.

What is your Focused Message or Value Proposition?

Pillar Five: Focused Marketing Strategy

A Random marketing strategy is much like the collection of marketing activities I outlined at the top of the article. You’re just all over the place, throwing something at the wall, hoping it will stick, with no organized system or plan.

A Focused marketing strategy is more like a putting on a theatrical production. You have the script, the actors, rehearsals, and opening night, all executed on a strict timeline.

Two examples:

For my Marketing Mastery Program, I held a series of introductory teleconferences, invited those interested to apply for the program, interviewed each applicant, and then converted 50% into participants. Over a 6-week period, I filled my business for a full year – four years in a row.

A career coach in one of my programs recently filled her practice in three months with a focused campaign of personalized emails designed to get appointments with her ideal clients. Then she converted a large percentage into paying clients.

That’s the power of a focused marketing strategy.

You need to identify the right marketing strategy for your business, but even more important is the way you organize and implement the strategy.

Developing a focused strategy is the most complex and challenging of the Five Pillars. You can’t just put together something haphazardly and hope you get the equivalent of a professional Shakespearian production.

What is your Focused Marketing Strategy?

If you work to build a focused plan with these five solid pillars, your marketing will work better and faster, attracting more of your ideal clients, usually at a higher rate.

I recommend you work on one pillar at a time. Write them out and fine-tune them until you feel confident and excited about them. Yes, you will need to do some research and study to make sure your plan is viable. But this is certainly better than spinning your wheels with a random strategy that is going nowhere.

Cheers, Robert

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Source by Robert Middleton

Views: 0

November 9, 2022
Why You Have Failed in MLM Marketing Success

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So, you have failed in MLM marketing success. It's a bit cruel to point that out, but nevertheless, facts are facts. You may wonder how you have failed. You may be making your goals and building a replication machine but you have failed. You may not have realized that you have failed. So, the bitter truth is out there and here is how you failed. You chose a bad leadership style that focused on you and not the prospects. Now what can you do? Don't fret changing one style and focus is a challenge but it can be done and here are some guiding steps.

Changing mindset to serving from being served

One of the biggest errors for MLM marketing success is having the "I want to be served" attitude. The world doesn't owe you anything. To combat the problematic marketers many companies have switched to "let us serve" attitude and it works. Not only does it cleanse the soul from bad residue, it allows the marketer to define clear and realistic business goals that focus on helping. It allows one to critically think about their ethics and operation in an honest and transparent way.

Many of us don't like dealing with telemarketers at dinner time, but how many of you are using the same techniques as they are. To open the door for MLM marketing success, we should not interrupt but engage with content that is focused on helping our prospects. Even if it means never seeing a penny from them. That may be frustrating for many of you but money is only one tiny part for success here. Brand loyalists are worth their weight in gold. These fans are powerful resources that could become teammates in the future. It is wise not to lose hope and give up after 3 minutes of failure or so. Treat each relationship like it's the only one you will ever have and see what happens.

The technical side to your MLM marketing success

Once you've changed your style and move into the serve first, you can then look into the technical aspect to the marketing. Does your content reek of overly promotional material? Good content does not talk about you. It helps answer problems or provide detailed insight. Are you publishing on a regular schedule or are you over publishing? It's great that you share quotes but where is the practical hands on advice that you could share.

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Source by David L. Feinstein

Views: 1

July 30, 2022
A Critical Review of IsXpera Multi-Level Marketing Business

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IsXperia is an MLM enterprise that is making a little bit of noise out there. I know you are reading this because you're considering signing up with them or your are already part of IsXperia Network marketing venture and you are searching for a way to build your enterprise very quick. You have come to right page. You will find few measuring standards that we use to evaluate any Network marketing corporations out there. We will examine their leadership, the product and services that they offer and finally the best way to make with this Network marketing business opportunity.

IsXperia Leadership Examination:

You must examine the leadership of any MLM Network marketing corporation prior to deciding to decide to join them. Ok, i'll just say that I do not know the founders of IsXperia personally. But from what I an gather about them, they are people of integrity. The founders, Christopher Bratta, Gina Bratta surround themselves with well known leaders in the MLM Multilevel marketing Industry. The leadership of this company should not be a reason not to join.

IsXperia Product Review: Pro

This company markets varieties of products out there. The products that they are advertising includes Boykin (skin products), Vital Xpression (Energy supplements), Body Xpression (For treating cellulite) and XpressSunTravel (become a travel agent), and finally id180. With id180, this enterprise will build your site for you and they're going to help you host it. They have a lot more multiple products coming out. One positive aspect of this company is that the products and services are somewhat sellable and diverse.

IsXperia Product Examination: Con

Not having a doubt, diversity is a fantastic thing. On the other hand, too much diversity (Business speaking) can certainly be a negative thing for almost any venture. As you have likely observed from this enterprise, they market skin products, traveling packages and they are also doing web hosting. This has the potential of confusing any new prospects out there and you losing focus.

Another negative that I see with IsXperia is that their products are overpriced in my opinion. You might go to their website and check the prices. I mean it will cost you almost $ 1000 web hosting setup services and $ 50 recurring bill every month. The traveling package will charge you $ 399 plus recurring $ 39.95.

IsXperia Analysis: Success Secrets

Make no mistake about it, you might absolutely money with IsXperia only in the event you know how to do the following things

1. You have to discover ways to market. What do you think you're marketing? You are marketing You. Folks will do business with folks. You must be a man or woman of value. Pitching your IsXperia business to family, friends and strangers at the mall won't work. Trust me on that. As matter of fact, your loved ones and friends will be your largest critic. Invest in yourself. Read motivational books and play the audio book as well. Have value. Always learn new things. Be a leader. Folks will follow you whenever you are a leader.

2. Learn to create leads. This really is folks venture at the end of the day. You need to be chatting to at least 30 individuals everyday and connecting with them. In the event you choose to buy these leads, you'll go out of cash. Create your own MLM leads with an internet self branded MLM lead generation system. Your business will grow very quick in the event you learn to do this.

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Source by Wole Lawrence

Views: 1

July 30, 2022
Advantages and Disadvantages of Multi Level Marketing

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Multi Level Marketing has been a popular way to make money for years. People get involved in MLM as it brings amazing income potential. However becoming successful in MLM isn’t easy and requires some effort and finding right people to work with as it’s pretty much about building relationships.

MLM is any business where payouts are made at two or more levels deep. The concept of MLM is quite traditional and it’s about building your downline in genealogy form where usually you benefit from all levels and branches of your genealogy tree.

MLM is attractive, however it requires from marketer to take different approach than in any other form of marketing and selling.

The reason is that unlike in traditional marketing where it comes to sell products, the main point of MLM marketing is rather selling hope and encouragement to become successful marketer to other people.

That’s why Multi Level Marketing is considered relationships business, not sales business. What it means is that in order to become successful, you need to find the right people who will join your downline and duplicate the steps you have taken to make money. While in many MLM companies you are limited to benefit from referring new members and building your genealogy tree, the other ones also involve product sales as an additional option to make money from your team building efforts.

When the sales are involved usually your job will be to recruit distributors who recruit more and more distributors infinite levels deep. The sales generated by all of them count toward your commission. So the rule is simple the larger the network of distributors built the more sales can be generated and more commissions can be earned.

The final question is: Is MLM marketing good business model for everyone?

Well it depends on the level of one’s experience and motivation.

The advantage of MLM is that it’s very effective and profitable form of marketing where success is result of consistent work and effort put by more than one person.

Where many people put their efforts and take action together to build their MLM business the income potential increases amazingly and can grow to the really high level over the years or even months.

Another benefit is that when you manage to build a team of motivated and good marketers you may get to the point where they will be doing all the job for you so that you’ll be able to benefit from your teamwork at minimum effort on your part.

However to get desired results in MLM marketing it takes some time, effort, proper knowledge and skills.

Building relationships and profitable team is a long process and requires a lot of patience, time and money investment.

The main problem here is to get the right marketers into your genealogy. The skepticism is lurking around nowadays and many people don’t believe in success on the Internet.

The job that has to be done is to show them that it is possible, encourage them to join your business and finally make them take action and duplicate the required steps.

That’s why mastering great communication skills is essential. Another thing that might be difficult is mentoring people.

When you finally manage to build your organization, you need to become a mentor who has the knowledge that will help your team members become successful as well. That’s why learning everything about the MLM business you are in is important as you will need to pass this knowledge forward to your organization members.

MLM business is really effective marketing model and may become your source of steady and solid income as long as you take it seriously and do consistently what is necessary to build your team.

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Source by Daniel Gebura

Views: 1

July 30, 2022