Narrow Your Focus To Triple Your Income!

Some say, diversify - Make sure you have every possible service and product available - Give yourself every opportunity to make a sale - Make your shop a 'One Stop Shop!'

I don't call this diversifying, I call it de'worse'ifying!!

The truth is, when you try and be everything to everyone, you spread yourself so thin, that you end up being, nothing to no-one.

Proceed with caution - One stop shops are for the big boys. The big players, with huge budgets to spend on marketing. In small business, the trick is to do exactly the opposite to one stop shops. And that is to specialize and become exceptionally good at this area.

Specializing means better focus on one area. It allows you to research deeper and become an expert in that area. Experts are usually paid much more. An example is an Electrician turned Home Theater Specialist. By doing this the Electrician increased his rates by 40% overnight!
Specialists are, on average, more profitable and attract customers faster. But how do you decide what to specialize in, and, if you will survive?

Well, start by:

Defining which is your most profitable service or product you presently offer. Define who your ideal customer is for that service or product. Do some research. Find out how many of those ideal customers are reachable, willing, and able to invest in your services and/ or products.

Then write down a detailed description of them:

• where are they located?
• what age group are they?
• what do they read?
• where do they socialize?
• how often would they have the problem you are solving?
• how quickly will they pay?
• and more.

Make sure you know your ideal customer like the back of your hand. The more you know about them, the easier it will be to market to them.

And then research your competition. Make 2 lists:

1. Direct Competition - they are also specialists offering exactly the service or product you do.
2. Indirect Competition - they offer a similar service.

Your likelihood to thrive will depend on a quick calculation. Divide the amount of ideal customers you believe you can reach by the amount of competitors (including yourself). The answer to this will be your potential share of the market.

For example: Number of customers I believe will require my service = 300. Competitors = 3. Therefore my potential market is 300 divided by 3 = 100. It will probably be more, because I know how to market more effectively, but we'll use 100 for this calculation.

Now calculate your potential yearly profit by multiplying your potential share of the market x your average profit per transaction x your average transactions per year.

For example: Potential share of market = 100 x $120 (average profit per transaction) x 12 (average transactions per year) = $144,000 (potential profit per year.)

Can you thrive on this yearly profit? If not try another service or product that may have a higher potential share of the market, transaction profit or transactions per year or a combination of all.

The trick is to focus, maximise profits and have the same awesome customers coming back, again and again. The net result will be greater profits for less work.

Here's what happens:

• You gain expert status and become more attractive to prospective customers.
• You confidence grows, you have much more clarity.
• Your profits grow with much less effort.
• It is easy for people to refer you to others and the one stop shop will refer customers to you.
• Your job becomes easier, as systems and procedures are streamlined for that service or product.
• Marketing becomes laser focused and the same material can be used over and over again.
• Hiring staff becomes easier.
• Bigger supplier discounts can be negotiated because of bulk buying.
• and more.

Do you see that by narrowing your focus you could easily triple your income?

Granted some industries are harder than others to do this in, but I have never seen an industry where this is not possible. It's often just a business owners belief, that they need to be doing and selling everything they possibly can, if they want to survive.

If that's your belief then hopefully I've convinced you to 'Change It Today!'

Copyright 2006 Ian McConnell

Ian McConnell is the creator of "The Instant Profit Multiplier." A step by step system that provides the tools to "Quickly And Easily Attract A Constant Flood Of Customers And Cash Into Your Business." Click here for more => http://www.small-business-secrets.com/main.html

How To Create A Memorable And Interesting Marketing Statement!

You're at a networking function and somebody that you've just met asks "So what do you do?"

Do you hesitate and think a while? And then say something boring like "Oh I sell xyz" or "I fix xyz?" First impressions, we all know, are important. When you are asked a question about what you do, it's an invitation to sell yourself, so make the absolute most of it, don't miss the opportunity.

But your answer should be interesting, clear and confident. Answers that are interesting will always encourage conversation and be memorable. So how do you create that 30 second elevator speech?

First up, remember interest is created by what you can do for other people. People don't want to be bored with how great you are or how fantastic your business is. It has to be about "What's in it for them!" How can you benefit them?

Relate what you do to a known situation, something that everyone is aware of. Most times you don't even mention your profession.

My own answer to "So what do you do?" is "I show business owners how to triple their income while working less." This answer always generates huge interest because everyone can relate to small business, with the long hours and high failure rate. There is no mention about my success, profession or how qualified I am.

The next question is almost always "So, how do you do that?" and then I tell them "By implementing new customer attraction techniques, measuring and improving enquiry to sale conversions, encouraging existing customers to come in more frequently and increasing the transaction size."

And, because I always choose networking events that give me the best opportunity to meet new customers (that are likely to require my services), my answers are guaranteed to interest them. Almost every time I email or send them a free report the very next day. It's important to get them into my marketing funnel as quickly as possible so I keep reminding them about what I do.

Using my example you can now create your own elevator speech. Some other examples are:

• Life Coach - I help busy executives spend more time with their families.
• Financial Planner - I work with professional people who want high returns on their investments.
• Landscaper - I create beautiful gardens for busy executives that have no time to garden.

And then create your answer to "How do you do that?" Because that will be the next question.

Make sure you are comfortable with your answers, as it will show if you are not. It should flow and feel natural but fit with you are.

When you have the interest and attention of potential customers make sure you have something that you can give them or send them as a follow up. A free report that can be downloaded from your website is a great way to get their permission to send further marketing material, and keep them in your marketing funnel. Always get something to them quickly so they don't forget you!

Whether you are self employed, an entrepreneur, a professional, or just work for someone, always remember the elevator speech is a magnificent way to market yourself. You just never know who your next big customer is going to be.

Copyright 2006 Ian McConnell

Ian McConnell is the author of The Instant Profit Multiplier. This amazing step by step sytem will help any small business owner triple their income quickly and easily... Without having to be a marketing genius or paying for expensive advertising.
Click here => http://www.small-business-secrets.com/main.html

How to create a flood of new customers and cash into your business.

Who Else Wants To Double Their Sales Quickly And Easily!

The quickest and easiest way to boost the sales in your business is to ask existing customers for referrals.

Yes, just simply ask!

But why do most business owners and sales people hesitate, and often don't bother to ask customers for referrals? Is it because they are embarrassed to be seen as asking for more, just forget, or maybe they inwardly know their service is not as great as it should be?

A customer that refers once will refer again and again and can be worth a great deal of money to you. This simple and easily implemented strategy has the ability to double the size of your business profits very quickly, just by asking a question.

Research tells us that each person has an average immediate circle of influence of 50 people. That means your average customer could bring you 50 other customers!

Research also tells us that the average satisfied customer will tell 3 other people about their experience. If each of your customers referred just 3 people, what impact would that have on your bottom line?

I suspect it would have a huge impact! But what if you offered an incentive for referrals and each of your customers started referring 5 or 6 people? Would this have a huge impact to your sales, just for asking? I suspect it would.

But before you go asking for referrals, make sure you are 'referable.' To be referable you need to go way beyond just showing up on time and delivering what you promise. You need to perform well above the expected standard, so that when you ask for the referral, there is absolutely no risk. The customer has to be absolutely confident that you will provide their friend/ family member/ associate with such exceptional service that it does not jeopardize their relationship or friendship in any way. They need to be thanking them for having been referred.

Referrals are powerful, but delicate. You must become 'risk free' in order to earn them.

To remove all the stops and hesitation in your customers providing referrals you need to be at least:

1. Likeable - customers need to see you as a friend, not just a sales person.
2. Reliable - customers need to know that you will always deliver when and where you say you will.
3. Well informed - customers need to know that you have the latest information and can advise of the best solution at all times.
4. Trusting - customers need to know you will always advise them in their best interests.

When customers refer people, show them your gratitude. People that are not recognized as having referred people will not be motivated to refer any other people. They will probably never say anything to you but will never refer anyone again.

Remember a referred customer is the easiest person to sell to, as the credibility has already been built; they are already qualified and ready to buy. You have not had to pay for this lead, so make sure you show your appreciation. You will be amazed how a small gift and thank-you card will motivate people to continue referring others, especially when the gifts are not something you sell, are useful and get bigger and better after each referral.

Want to know more? Click here...

Copyright 2006 Ian McConnell

Free Report - "How to create a flood of new customers and cash into your business."