Maximize Your Resources- Part 3

In the last post we talked about three more ways you can work on maximizing your current resources. They included:

·         Reveal your business’ soul

·         From breaking even to breaking the bank

·         Stand up and stand out

Today we’ll talk about the last three areas you can work on to maximize your current resources. They are:

·         An offer they can’t refuse

·         Would you like fries with that?

·         Stay away from the edge of the cliff

An Offer They Can’t Refuse

The secret to success is to stay ahead of your competitors- maintain the competitive edge. To do that you need make it easier for your customers/clients to say “yes” rather than “no”. You do this by eliminating all the psychological, financial, physical, emotional and other road blocks they may have.

You can take the risks for them by offering warranties and guarantees that make the customer feel more confident in you, your business and your products/services. You also must be serious about your offer and follow through if a situation does arise. The quickest way to the bottom is to play games or take back a warranty or guarantee.

Would You Like Fries With That?

It’s the oldest trick in the book. I mean, really, how many times a week do you fall for it? Every time you sell a product or service, you need to offer an add-on, upgrade or back-end product to go with it. These products must be complimentary to the original product being purchased and must create a higher perceived value.

Avoid the Edge of the Cliff

Continuing to test and measure your systems, products, marketing methods and all other aspects of your business allow you to see problems before they happen and therefore avoid falling off the edge of the cliff.

Here are a few specific areas you can test for potential improvements:

·         Marketing

·         Sales Copy

·         Customer Service

·         Sales Letters

·         Sales Presentations

·         Employee-Customer Interaction

Through testing these different areas you will find products/services where you can raise the price, maybe others where you can lower the price or offer that product as an incentive item, and find many others areas for improvement that will better utilize your current resources.

This wraps up our series on how to maximize on your current resources. If you need help working through any of these or the previous areas, try our FREE test drive to work with one of our amazing business coaches.

www.twfics.com/guidedtour

Do You Know How To "Innovate" Your Business So You Dominate Your Competition?

Your spouse has decided to return to the workforce, so you must find a daycare center for your kids. All of them offer the same basic services and charge around the same price… except one. That "one" is 25% higher in price, but they offer additional services the others don't.

For example, they offer beginner computer training for pre-schoolers, as well as beginner reading and math classes to give kids a head start before entering grade school. They offer a web-based surveillance system so parents can watch their kids during the day to insure they're receiving proper treatment.

Which daycare do you want your child to attend?

What you need to know…

When you innovate your business, you automatically become "unique" in the marketplace. Your business now offers "extraordinary value" to its clients. Just like we need air and water to sustain life, for any business to truly succeed, it MUST become unique and offer extraordinary value.

The key is to know and understand what parts of the business require innovating. Prospects buy what you sell because they "want" it. It's critical that every business owner know exactly what their prospects "want," and then massively innovate their business to give it to them… and do so in such a way that it's viewed by those prospects as "unique" and "extraordinary."

Why you need to know this…

Innovating your business is the quickest and surest way to dominate your market. It enables any business owner to separate their business from their competition, eliminate them in the minds of their prospects, and have their prospective clients say to themselves that they would be an absolute fool to buy from anyone else but them.

Businesses that don't innovate look like, smell like and feel like every other competitor in their market. These are the businesses that are doomed to compete forever on price. They aren't unique, they offer no extraordinary value and therefore the only value they can offer their prospects is the lowest price.

The cost to you if you fail to act…

Do you want to spend the rest of your life competing on price?

Do you know specifically what your prospects "want" from your business?

Do you know the best areas of your business to innovate?

Do you have any idea how to tell if your proposed innovations will produce a positive Return On Investment (ROI)?

If you don't innovate, and are forced to forever compete on price, what will be the future costs to your business if that happens?

How can you learn to develop these critical skills?

The problem that most small business owners have is they don't understand how or what to innovate to increase their revenue and profits.

We'll help you develop these skills quickly and easily through our E-Learning Marketing Series. In fact, we would be honored to share our expertise with you and to demonstrate our expertise.

To take a Test Drive on our system visit http://TWfics.com/guidedtour

To your success,

Tim Wesley

P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and check out the TWFICS Business Growth System and E-Learning Marketing Series. It's helping small business owners just like you get the answers and the help they need to build the business they have always wanted.

We created the TWFICS Business Growth System and E-Learning Marketing Series with the perfect combination of online resources, tools and support to get you out of any financial distress you're presently experiencing... help you get laser-focused on your highest income-producing activities... and help you develop and then apply the fundamentals that build multimillion dollar businesses. click here to see for yourself.

Maximize Your Resources- Part 2

Last time we talked about the first three areas to work through in maximizing your current resources. They were:

·         Recognize the obvious

·         Unconventional breakthroughs

·         Face the facts

Today we'll cover the next three, which are:

·         Reveal your business’ soul

·         From breaking even to breaking the bank

·         Stand up and stand out

Reveal Your Business’ Soul

Every business has a soul and you likely felt it the strongest when your business was just starting. It’s that passion, newness and momentum you had at the very beginning. Sometimes that can get lost along the way as your business gets stagnant and set in its ways. You have to break out of that rut and get back to your business’ true soul.

The philosophy of putting your client’s needs above your own is the true key to success. You need to serve your clients not sell to them. They want to build a relationship based on trust, not a used car. Add to these responsibilities your ability to solve problems, handle special situations, be a friend to your clients and focus on offering valuable, high quality products/services. Only then will you get back to the basics and find you have more resources than you thought.

From Breaking Even to Breaking the Bank

One of the classic and most used ways to attract clients is to offer them a ridiculously low price on their initial purchase and lock them in for future purchases. You see this approach with movie or book clubs and even credit card companies who offer lower interest rates for the first six months.

Essentially, you are offering them a deal on their first purchase and then you offer them back-end and add-on products along the way. These are naturally higher prices and will bring them in to more of an intimate relationship with you and your company.

Stand Up and Stand Out

You need to stand out from the pack among your competitors. They only way you can do this through consistency and value. You do this by discovering what your USP (Unique Selling Proposition) is and perfecting it. Here are some tips to help you find and develop your USP:

1. Look for unfilled needs in your industry.
2. Use preemptive marketing.
3. Use a technique that is clear and to the point.

This wraps up this post. If you need help with any of these areas and techniques, try our FREE test drive to access a wealth of resources and tools.

www.twfics.com/guidedtour

Maximize Your Resources- Part 1

Over the next few posts we’re going to talk about how to take a hard look at your current resources and get the most out of them. This can help your capital go further and increase your profit margin.
Today we’ll cover three different ways to maximize what you already have. These include:

• Recognize the obvious
• Unconventional breakthroughs
• Face the facts

Recognize the Obvious
Sometimes when you are too close to something, you can’t make out the big picture. You need to step back and really take a hard look at the resources you currently have in front of you. You are surrounded by opportunities that can boost your career and help your business become more successful.
Unconventional Breakthroughs
Don’t sit around waiting for breakthroughs you need to create them yourself. A breakthrough is merely a new way of doing things or finding a new thing to do for the same or better results. You should be having regular brainstorming sessions and encouraging your team to come forward with breakthroughs or ideas any time they have them.
Some great examples of breakthroughs are:

• A health and beauty company discovers a side effect of a product that can be re-marketed and sold.
• A company creates a roll-on deodorant inspired by the shape and size of a ball point pen.
• The founder of Nike poured rubber onto a waffle iron and created the most innovative and successful running shoe ever.

When attracting or strategizing for a breakthrough there are some key objectives you need to keep in mind. They are:

1. Look for the hidden opportunity in every situation.
2. Look for at least on cash windfall for your business every three months.
3. The more value for your client, the better your breakthrough.
4. Create multiple streams of idea to find the best breakthroughs.
5. Effective breakthroughs remove all risk or resistance.

Face the Facts
Before you can put your breakthroughs to work you need to face the facts of the processes and systems that are not working for you and work to correct or get rid of them. System analysis is a good way to do this. Once you have a listing of your strengths and weaknesses, you need to compare those to the strengths and weaknesses of your competitors.
There are some great questions you can present to you and your team to get a handle on where your business is right now. They are:

1. Why did I first start this business? Why am I in this industry?
2. What products/services did I offer then? Which were the most popular?
3. Why are my customers/clients buying from me right now?
4. How did I generate new customers/clients then?
5. Which of my marketing efforts were bringing in the best results?

Once you’ve got some answers to these questions, you’ll know better how to approach your weaknesses.
These three areas we’ve gone over give you a jumping off point for how to utilize your current resources to their fullest potential. If you need any help with your strategic or systems analysis, try our FREE test drive to work with one of our amazing business coaches.
www.twfics.com/myguidedtour

Create a Vision for Your Business

The TWFICS Business Growth Program guides you step-by-step through the process of establishing a strong foundation - or preparation - for the five-step process that follows. You need to prepare yourself, your business and your staff for the changes you are about to create and the success you are about to make yours.
You will notice that every major company in the world has a vision or mission statement - a broad, futuristic idea of what the company will achieve and look like in the future. The five-step process can help you achieve there, but you need to know where "there" is first.
Most owners and entrepreneurs are eager to jump into marketing strategies and get more people flowing through the door, or more sales ringing through the till. Be patient - this is important work that will build and contribute to your amazing success. Trust me!
We cover:

• What a business vision is and why it is important
• Why your employees need a vision to follow
• Examples of powerful vision statements
• Your unique strengths and weaknesses
• How to write your vision statement
• What you need to achieve your vision

So, let's take a look at what a vision statement is, and why it's important for you to create one for your business.

A vision statement is a broad, inspiring image of the future state a business aspires to reach. It describes without specifying how aspirations will be achieved, or when. It is ambitious, and forward-thinking. It's not about where the organization is now, it's about what the organization will be, or aspires to be.
A vision statement needs to:

• describe aspirations and intent
• be inspirational for your staff and customers
• project a compelling story
• paint a clear picture
• use engaging and descriptive language
• be realistic
• align with your company's values

The vision statement will also provide a clear criteria or measuring stick for decision-making. When making tough choices, ask "Does this support the vision statement?" If major initiatives do not support the overall business vision, chances are they aren't worth the investment of time and money.
If your business doesn't have a vision statement, it needs one. If it does, then this is a good opportunity to strengthen it or make sure it is aligned with the current dream you have for yourself and your company.
We work through a step-by-step process that will help you hone in on what your vision is, and then put it into words.
You should note that a corporate vision statement - once created, agreed to and perfected - should remain consistent and unchanged for several years. When a vision statement is changed and revised, it is difficult to create a consistent plan that supports the achievement of the vision. In this case, now is a good time to revise your vision - right before embarking on a comprehensive marketing strategy.

But first, don't forget that your employees, joint ventures (companies you align yourself with - the most powerful marketing initiative on the planet is a Joint Venture) and your customers need to believe in the company's vision too.

Your employees need a strong, clear vision statement just as much as you do. When creating a vision statement, keep this in mind. The vision will need to be something that your employees can embrace and stand behind. A powerful vision statement that your employees can get excited about will motivate, inspire and build morale on the sales floor and in the office.
Think about how you will communicate your vision to your employees once you have created it. How can you inspire them to nurture and support your vision on a daily basis, in everything they do? How can you empower and motivate them to feel ownership of the company's future and their stake in it?

Take a look at these corporate vision statements so you can get a better understanding of what we're talking about.

Amazon.com
Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.
Dell
Dell listens to customers and delivers innovative technology and services they trust and value.
eBay
eBay pioneers communities built on commerce, sustained by trust, and inspired by opportunity. eBay brings together millions of people every day on a local, national and international basis through an array of websites that focus on commerce, payments and communications.
Facebook
Facebook is a social utility that helps people communicate more efficiently with their friends, family and coworkers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people's real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.
Google
Google's mission is to organize the world's information and make it universally accessible and useful.
Other Vision Statement Examples:

• To develop a reliable wireless network that empowers people with the freedom to travel anywhere - across the hall or across the continent - and communicate effortlessly.
• To be America's best quick-service restaurant chain we will provide each guest great tasting, healthful, reasonably priced fish, seafood and chicken in a fast, friendly manner on every visit.
• To provide high quality products that combine performance with value pricing, while establishing a successful relationship with our customers and our suppliers.
• To be a profitable provider of high quality software solutions and services that provide strategic value to our customers and create a company that can attract, recruit and retain smart and talented employees.

See what I mean? Let's start creating your unique vision statement today!

www.twfics.com/myguidedtour

5 Killer Mistakes Part 3

The last 2 posts covered the first four of the killer mistakes you can make that will not only make you lose your fish, but possibly your entire company. Today we’re going to talk about the fifth killer mistake: Up Cash Creek Without a Paddle.
Even when business is good there’s still a change of running out of cash flow. You have to always be prepared for a slow in sales or a surge in expenses. One of the keys to balancing your cash flow is to get your clients to pay on time. This can seem like a nightmare, but is absolutely essential to a successful business.
Here are some tips to speed up the payment process:

• Always send invoices on time and adjust your records for potential audits.
• Learn how the client processes payments on their side and find out precisely where to send invoices.
• Find out who’s in charge of processing orders and payment, so you know who to contact if needed.
• Have a follow-up procedure in place, just in case.
• As a last resort, call your contact to ask questions.
• Always make sure your invoices are correct before sending them out.You also need to make sure your cash flow is protected. You can do this by:
•  
•  
• Always know which accounts need paid and when.
• Negotiate with your suppliers for the lowest cost possible.
• Have a bank contingency plan in place.
• Build your own inventor network.

These are all great ways to protect the cash flow of your business and prepare for fish transitions and slow sales. These last few lessons are all about finding and catching your big fish clients. These clients are essential to your success and your need to take the time to work through each of these steps carefully and correctly for the best success.
If you need help with any step of the process of catching your fish or subsequent big fish clients, try our FREE test drive for access to a wealth of great tools and resources as well as our business coaching staff.
www.twfics.com/one-on-one-coaching

Does Your Marketing Attract Your Prospects Attention?

Do your marketing messages compel your prospects to buy what you sell? Do they tap into their basic emotions? Are you aware that prospects buy on emotion and justify their purchase with logic?
What you need to know…
Your marketing must convince your prospects that you offer "extraordinary value." And it must resonate with them emotionally. Simply telling them that you're the best at what you do won't work. You can't just say you're trustworthy, reliable and exceptional. That's the same thing your competition does. Prospects don't believe you. You MUST educate them as to why you're trustworthy, reliable and exceptional.
Why you need to know this…
To consistently attract more clients to your business… and to effectively convert prospects into clients, it's critical that you create a series of short, clear and concise messages that compel your prospects to instantly want to know more information about your product or service. These short messages must focus on the benefits your business provides to them, and on the value you provide that your competition doesn't.
When you create compelling messages that quickly and clearly articulate what you do and the value you provide, interested prospects will feel compelled to seek you out for additional information. In other words, a well-crafted message "pre-qualifies" your prospects for you… allowing you to focus your limited time and efforts on those prospects that are truly interested in what you sell.
The cost to you if you fail to act…
A well-crafted and well-developed message can generate a tremendous number of new leads for your business each and every time you use it in your marketing. This same information is then incorporated into scripts that you or your staff will use to convert interested prospects into actual paying clients. It doesn't do you any good to generate a thousand interested leads if you don't know what to say to them to convert them from leads into sales.
Marketing is always the key to small business success, and the small business owner who learns the process to creating and implementing great marketing will dominate their industry.
To take a Test Drive on our system visit http://TWfics.com/myguidedtour
To your success,
Tim Wesley
P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and check out our E-Learning Marketing System™. It's helping small business owners just like you get the answers and the help they need to build the business they have always wanted.
We created the E-Learning Marketing System™ with the perfect combination of online resources, tools and support to get you out of any financial distress you're presently experiencing... help you get laser-focused on your highest income-producing activities... and help you develop and then apply the fundamentals that build multimillion dollar businesses. click here to see for yourself.

Killer Mistakes Part 2

In the last post we covered the first two of the 5 biggest mistakes you can make in dealing with big fish clients. Today we’ll cover the third and fourth ones: Taking on More Than You Can Handle.
When you take on too much, your business can’t keep up and therefore you can easily lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to have a plan for how you will handle the growth. Your clients expect great customer service and highly quality products/services, they don’t know or care about your behind the scenes operations to get those things done.

• Look for these signs that you are taking on more than you can handle:
• Clients’ needs aren’t being met.
• Employee morale is low, clients are upset and you’re in a panic.
• You have to react in emergency mode to save accounts.
• Your current clients are suffering from trying to keep up with new business.
• Profits are going down.
• You are just trying to pick up the pieces of your business.
• Your clients/customers leave.
• Resources are being reallocated.

There a trick called the Mock Fish Plan. This plan can help you react positively when you are facing some or all of these things and help you get your business back on track. This plan will:

• Help increase sales in a short period of time.
• Alter your products/services for the better.
• Fulfill promises you made to your clients.

There are six steps to this plan:

1. Bring in your best team and have them all help to meet the fish needs.
2. Review your operational system.
3. Anticipate future problems better.
4. Communicate better.
5. Include costs in your quotes.
6. Always have a back-up plan.

All Your Eggs in One Basket
You can allow your company to become dependent on any one fish. Eventually or for certain periods there is going to be a slowing down period with your fish. In order to stay in the game you need to diversify.
If you’ve ever mishandled a fish, you could drive away potential fish as well. In order to keep balance and prepare for a strong future, there are a few things you can do.

• These things include:
• Stay in the loop and try to know what’s going on inside your fish company.
• Constantly reinvent yourself and stay at the top of your industry.
• Stay exclusive.
• Try to secure multi-year commitments and contracts.
• Spread your contracts out.
• Price your products/services correctly.

You also need to work to reduce your dependency on your fish. This can generally be measures in sales or profits. Take a look back at the process we’ve used thus far to snag more fish to keep this all in balance.
These are the ways you can help avoid the killer mistakes that can make you lose it all. If you need help with any of these tips or tricks, try our FREE test drive to get the help you need fast.
www.twfics.com/myguidedtour
Next time we’ll talk about the last of the killer mistakes and how to combat it from hitting your business hard.