How a simple mind shift can INCREASE the INCOME of your business.
It doesn’t matter what business you are in, there are three areas of focus. You don’t have to acknowledge them for it to be true. In fact, you might not have ever thought of your business in this manner… What I am proposing is that by viewing these three sections of your business as totally different businesses, you will greatly increase the effectiveness of each one.
This is everything that happens before a sale is made. The first 5 steps I recommend to profitability can be found in this ‘business’.
- Select One Target Market At A Time- Your main business will likely have many different classifications of clients. However, to be effective, it is necessary to FOCUS on one type of client at a time. You can create many different campaigns to feed into your During Business (we’ll talk about that in a few minutes), but just pay attention to ONE at a time.
- Compel Your Target Market to Raise Their Hand- Compel is a great word. There are a lot of different words that could be used in this statement, but none would reveal the clarity nearly as much as ‘compel’. Compel is defined as to bring about by the use of pressure. There is good pressure and there is bad pressure. I am, of course, talking about good pressure.
Use the kind of pressure that REQUIRES your target market to take action. If you are compelled to do something (like raise your hand), you may not even know why you have to do it. You just know in the heart of hearts that it is the right thing to do. That is the type of pressure you should display here.
By raising their hand, your target market has voluntarily told you that they are interested in YOUR SOLUTION to THEIR PROBLEM. That doesn’t necessarily mean they are ready to buy YET. That is why you need to:
- Position Yourself As THE Expert- There are lots of different ways to establish yourself as THE expert on the solution to your target markets problem. No matter which way you choose, it always involves giving them an education. It always includes giving them valuable content.
You will not only be giving them valuable content that they can use, but you are establishing trust with them. This is invaluable for your business. If your target market knows, likes, and trusts you, the sky is the limit to what they will do for you and your business.
Some of the ways you can accomplish positioning yourself as THE expert is by writing a consumer’s guide, a white paper, a free report, blog posts, or creating a video. There are many options here, but after you have given them the valuable information you will need to:
- Identify the UR4B (Unique Reason For Buying) from YOU- You are you, your business is your business because of all the unique experiences that have happened to you and your business. For example, everybody knows at least 3 realtors. If you needed a realtor which one would you call? The name just popped into your head did so because they are unique from the others. Maybe the reason was because of their location, contact list, the types of listings they currently have, their guarantees, their track record of quick sales, the fact they ALWAYS get asking price. I’m not sure what it was, but there was something that you thought of that separated THAT realtor from the rest…
What do you and your business have that separates you from other people who have similar products/services? Identify that and:
- Reveal the Golden Ticket- “In your wildest dreams you can not imagine the marvelous surprises that await you!” This quote was written on the golden ticket in the old Willy Wonka movie. If you received this ticket, you would be given unprecedented access to the chocolate factory to see WHY THEIR CHOCOLATE WAS SOOOOOOO GOOD! People were willing to do whatever they had to do to obtain that ticket.
You want to create that kind of urgency by revealing an offer SO GOOD your target market has to say, “YES!” Once again, it could be any number of things, but it must separate you from ‘everyone else’.
This is everything that happens during the sale.
- Deliver A Platinum Experience- Have you ever heard of the golden rule? “Do unto others as you would have them do unto you.” I am unlike many people I know. So that is why the platinum rule is necessary. “Treat others how THEY want to be treated”. Create an experience for your clients that will leave them the happiest form of themselves.
This is everything that happens after the sale.
- Target Market to Raving Fans- How does a company create RAVING FANS? By over delivering. It can be difficult to figure out exactly how to over deliver. If you over deliver too much your profit margin may go down. It may raise the bar higher causing you to keep on delivering more and more.
These concerns may be valid, but they are really just excuses. There are companies we hear about all the time that over deliver. I have ordered products off Amazon.com that I expected in 3-5 days that arrived in 3-5 hours. Do I expect that everytime? NO, but it sure is great when it happens! Do for a few clients what you wish you could do for everyone. Write a hand written thank you note. Upgrade shipping. Send some candy with your product. Deliver a sweet snack with your service…
For many companies, The During Business is the only one that they pay attention to. I get it. This is how dollars actually go into the coffers. This is how products get made. This is how people afford to buy houses, cars, and send their kids to college.
The only problem with ONLY paying attention to this section is going to limit the number of dollars you are putting in the coffers. Excel in all 3 businesses and those profit dollars will SOAR…
When done correctly, The Before Company sends your target market to the During Company. The During Company feeds the After Company. The After Company, who has now made your target market into raving fans, will send them back around to the Before Company. It is a circle that continue to add money to the coffers….