This might be the biggest one!
If not making: genius or idiot +5 points for each you're not making
Mistakes are normal Scoring -10 for each one you are making
Bankruptcy is harder
They're hard, too
Costs are sunk Serious long term risk
10. Not Admitting Mistakes 50+% of sales come from 1 customer
Either worked or didn't
Money is spent
Basis = 0 Good news It's easier
Ask: "would you do this over?" It's more profitable
Don't worry about looking good! It's better
You Wrongly Believe
It's less work
Not for you, but for your customers! Just get 1 more!
You're on a roll
1. Big Customer Syndrome
Customers will buy without justification
When times are good
Stupid concessions
Show them why this is a good idea Doing things in a "special way"
Provide proof 9. No Clear ROI Smaller customers suffer
Results
Do the math When times are bad or "normal" Organization gets drained of resources
Justify with numbers Then what?
They'll leave
Prove your case
Products in a vacuum
Won't pull trigger until everything is just perfect
You have a great idea
You Wrongly Believe
Then, think it again!
Think 80/20
8. Perfection-itis Product nobody wants
Get it out the door!!! Results
Bad programs beat great programs still on your desk! Better mouse trap
2. Engineer's Mistake
Survey market
10 Fatal Business Mistakes Do Research First
(Paul Lemberg) Ask market what they want
Hardest way to grow business: finding To Overcome
new customers! Fund development with advanced sales
Dry test campaign
Sell lots of things a lot of times
Provide steady stream of value
You're a great salesman
Upsell
You're a great engineer
Resell
7. One Sale Customers Have a few friends
Cross-sell Why sell one thing, one time?
Like-minded group
Downsell Situation
Consensus
Bundle
3. Equal Partnerships Hard to un-paralyze
Subscription Paralysis soon happens
Everything great at first Lawyers & dissolution
Continuity
Don't share business 50/50
Need the cash! Keep Control!
Pursuing every interesting opportunity Not ignorant or disintrested
If can't do that, give 3rd party voting share
Spread yourself too thin
Sub-par quality
"Make it up on volume"
Contribute to mission & vision Rationale
Focus on high value activities 6. Out of Focus
Wal-Mart
RELATED mult. streams of income! Fix
Not mult. streams of income Do you have deep pockets? Fed Gov't
Mult. streams of RELATED income!
If not, you lose!
For marketing
All entrepreneurs are No margin
You're an optimist!!
4. Low Prices To reinvest in business
Optimistic sales projections
Prove Value
Low expense projections
Charge premium prices
Short schedules
5. Not Enough Cash Overcome Work less for same revenue
Rethink assumptions
Work same for more revenue
Create realistic budget
Overcome Build business on profits
Figure out how to overcome
Plan for worst
Just do it!
Purpose
What's in the way?
Motivation
Life contribution
Makes you more accountable
Outline your goals & 5. Publicly report to Example: Going to Gym Dreaded
Used to be hard
milestones someone Not adapted as part of daily routine
Second nature/habit
Now it's easy
Each week, settle up Massive Purpose fuels action
Success or failure? Achievement via
4. Track your progress
What can you improve upon for next week? Accountability consult every day
(Lemberg) Sign a contract with yourself
and place it in a highly visible
Time wasters steal time from 1. Have clear written goals area
goal achievement most don't take time to
3. Insure each action is document or review regularly = lack of clarity & purpose
Increase productivity through consistent with achieving
proper focus
goals
This will force you to take action
2. Have powerful reason Kids? Longevity to see them grow up
for achieving goal Deeper emotional needs Rarely about money or material things
most marketers talk to a
required huge capital outlay group instead of one
small guy couldn't compete person
call everyone that would old days
recognize your name
vital strategy to all
keep calling the same people
businesses
time
try to avoid at all costs! advertising
cost = $25/hour you're going to pay for affiliates/JVs
now takes 100 calls to set 1
100 calls would likely take ~3.5 hours appointment leads one way or another product development
$87.50/day into the toilet!!! nothing's free!
generally speaking, research
isn't done on suspects to the
most "wing it" Economy in the toilet
degree necessary to make a Pains
failure connection and uncover a need Corporations leaning on the
destiny government to bail them out
inconsistent results at best
Lifelong jobs are a thing of the past
their goal: get off the phone as Unemployment rate on the rise
quickly as possible without Panic, fear, and uncertainty
agreeing to do anything Publicly traded companies not
suspect is in control cold calling meeting or beating estimates
doesn't want to be interrupted!
you're trying to "trick" them into
saying yes to something most business web sites
"avoid talking to strangers" are nothing more than an
parents' disdain or being adversarial in nature online brochure
stories told for generations interrupted at dinner time
engrained in us to resist cold
phone call is one of the first calls from childhood on up can only be read easily if its printed
& biggest hurdles looking at a computer screen
you don't typically call someone eBooks for long periods of time
think of early stages of courtship
unless you know them or works best as a linear medium
they've asked you to call
Nobody visits a business
site to find out how long
the company has been in
business
consistent follow up helps guarantee
breed testimonial
familiarity and build trust Simplify your sign ups only require information that is
talk to one person versus a group Keep in touch vital to the follow up process
Entice them
pains
a better way of life
discount coupon
hottest right now hire a business coach
video
most people are visual
a little bit worn out Word-of-mouth
people aren't as eager for report The NAR put out a study in
reports as old days esp. IM 2005 saying that the use of the
Internet to search for a home
eBook has risen from 2% in 1995 to
podcast
Offer something of value what is the best lead 77% in 2005 and agents with
generation tactic? websites has increased 129%
another worn out tactic altough over the past 5 years. It also
can be effective outside of IM short course via e-mail said that In terms of lead
generation, only referrals and
teleseminar series repeat clients rank above the
Internet as the most effective
webinar Questions methods of gaining new
live Q&A Lead Generation business.
tougher to do on a broad scale What is the best way to do an
due to time but very valuable 30 minute consultation email campaign for lead
generation?
Is "lead generation" a fancy
make it obvious what you want term for cold calling?
your prospect to do How much lead generation
ask for the order or action should I do?
"when you enter your contact info below" Include a strong call to action
implicit vs explicit
"enter your contact info below" importance of leads
more customers
visibility paves way
3 ways to grow increase purchase frequency
use Google Trends to uncover
markets' typical behavior
business
increase value of transaction
keyword research can indicate
what people are looking for and
how much lead generation
up-to-date Use quality marketing data
increase sales
non-responders weeded out "scrubbed" lists increase awareness
accurate contact information Define goals overcome objections
build relationships
become recognized "expert" Stay strategic
Create the right image
Project yourself as an authority
Write Articles educate prospects target ideal customers
Press Release
newsletter subscriptions
still works because so much
communication has shifted helping compatible companies
online that direct mail stands find each other
out again
postcards & snail mail B2B trade publications
teleseminars
webinars
in-person seminars
webcasts best sources of lead generation
streaming video get content ranked high Be present at the right place
trade show live events on the search engines start with local search! much easier to rank higher (for now)
lunch & learn
can be non-productive and
costly over time due to time lifestyles, attitudes, emotions,
required interests, and preferences
BNI meetings
identify your target market define the "Hot Buttons"
free or cheap classified ads Target ideal
Choose the right type of prospects
customers
Content rich blogging
get to know you quickly
people are highly visual
can become viral
free if you already have a camera Genuine interest makes
you trusted and valued
easy to do
can shoot a video anywhere
CamStudio
Video
screen capture mailing lists
Camtasia
interview industry leader
so you can upload to YouTube less than ten minutes
banner advertising
insert a watermark
500,000 new Facebook
for "A" list prospects & clients users/day
Presents social networking start w/friends and family
membership sites
Generate excitement
Pay well
Hire best talent
Manage for mistake avoidance
It never comes
Don't wait for "perfect" time Collect up-front
Nobody is perfect
Charge enough
Lessons more powerful & beneficial Learn as you go Get Started!
Enjoy the journey & experience grow
improve
80/20 profit
Help customers
LISTEN succeed
look good, smart, effective
Service
Quality Meet problems head on
Become fanatical Business Musts
Aim to become industry leader
honesty
See wants & needs of others Find market gaps integrity
Maintain transparency
No need to have a bunch of Develop abilities
mediocre weaknesses! ethical & moral standards
Focus on your strengths
Dispense facts
Use telephone to acquire info Never use institutional
Advertise! advertising
Direct response
Accept no freebies
Local
Not Regional
See company as national Boutique
#1 in AllinAnchor Commercial intent = $$$
Links competition has found 1. Conversions of
Consider KW Elite Also 9. SEO Elite keywords
External domain
Want refresh within 15 days If not, update/change tags
Link to focused page 8. Blog post
2. Check cache in Google Get 5-10 links Blog & reference page
Update continuously
Create focused page
kw phrase @ beginning Title & Description
7. Double Listing Google Keyword Tool
Use kw in heading &
throughout page GoodKeywords.com
Nichebot.com
SEO in a Box 3. Verify traffic
Nichewatch.com
Internet Business Promoter Consider IBP
6. Verify On Page WordTracker.com
Amazon
Wikipedia
Comparison of top 10 results Heavyweight?
Top 3 eBay
Anchor, title, text
If yes, move on!
Can tell if site has implemented SEO
Best link campaign AllinAnchor Paid ads @ top?
4. Peruse search results
5. NicheWatch.com Local @ top?
PR & Title Tag Advanced searches
AllinTitle Good sign if social media,
article sites, document sharing,
On page elements AllinText etc. are in T10
Universal?