5 Ways To DOUBLE Your Profits By December 31st 2010
What if I told you it was possible to DOUBLE your profits before the clock hits midnight on December 31st, 2010? Follow along and learn the 5 steps necessary to take any business from struggling to successful in just a few short months.
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1. Increase your prices.
Nearly every marketer online and off makes this mistake. They price their products too low, thinking that if they charge more, they'll make fewer sales and scare away their customers. Fact is, you can charge any price you want, as long as your VALUE exceeds your price.
What do I mean?
Customers don't make a decision solely based on a product's price, in fact it is probably second or third on the list. The first and foremost factor is VALUE. Does your product deliver more than they can get anywhere else? Does it solve their problem better than the other solutions available? Don't worry about raising your price, just make your product impossible to live without.
How do you make your product impossible to live without?
Know what your customers need. If you know what your customers are looking for, you can shape your product so it fits their needs perfectly. Once you do that, it won't matter what your competitors are charging, because your product will be more valuable than your competitors. So to recap, make your product more valuable and you can raise the price and your customers will still pay.
2. Keep your paying customers....paying
How many products do you sell your average customer? One, two maybe? Then you go off and try to find new customers and repeat that cycle over and over every month. That's just plain nuts. Why run around finding new customers, convincing them to trust you, and convincing them to buy your product when you can just sell to the customers who have already bought from you?
You provided them a good product the first time, and maybe even the second time, so why not continue?
Follow up each one of your products with another bigger product or a similar product that can help your existing customers and watch your profits increase without any extra work. All it takes is an email to let them know that you are back with another product or a better product and they will pull out their wallets and happily purchase from you again. It's one of the easiest ways to make money and it is not difficult to implement at all.
That was just two of the top 5 ways to double your profits by December 31st, 2010. Stay tuned for steps three, four, and five. Also check out Blueprints to Profits and get a complete course on increasing your profits by up to 300% in 6 months or less. Groundbreaking material by internationally renowned author Paul Lemberg. This course could be the difference maker, but only if you apply it. Additionally, check out this Blueprints to Profits review - I appreciate his honesty and I support the troops lol.
Additional resources:
Coty Sweeney's USA Today Blog
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1. Increase your prices.
Nearly every marketer online and off makes this mistake. They price their products too low, thinking that if they charge more, they'll make fewer sales and scare away their customers. Fact is, you can charge any price you want, as long as your VALUE exceeds your price.
What do I mean?
Customers don't make a decision solely based on a product's price, in fact it is probably second or third on the list. The first and foremost factor is VALUE. Does your product deliver more than they can get anywhere else? Does it solve their problem better than the other solutions available? Don't worry about raising your price, just make your product impossible to live without.
How do you make your product impossible to live without?
Know what your customers need. If you know what your customers are looking for, you can shape your product so it fits their needs perfectly. Once you do that, it won't matter what your competitors are charging, because your product will be more valuable than your competitors. So to recap, make your product more valuable and you can raise the price and your customers will still pay.
2. Keep your paying customers....paying
How many products do you sell your average customer? One, two maybe? Then you go off and try to find new customers and repeat that cycle over and over every month. That's just plain nuts. Why run around finding new customers, convincing them to trust you, and convincing them to buy your product when you can just sell to the customers who have already bought from you?
You provided them a good product the first time, and maybe even the second time, so why not continue?
Follow up each one of your products with another bigger product or a similar product that can help your existing customers and watch your profits increase without any extra work. All it takes is an email to let them know that you are back with another product or a better product and they will pull out their wallets and happily purchase from you again. It's one of the easiest ways to make money and it is not difficult to implement at all.
That was just two of the top 5 ways to double your profits by December 31st, 2010. Stay tuned for steps three, four, and five. Also check out Blueprints to Profits and get a complete course on increasing your profits by up to 300% in 6 months or less. Groundbreaking material by internationally renowned author Paul Lemberg. This course could be the difference maker, but only if you apply it. Additionally, check out this Blueprints to Profits review - I appreciate his honesty and I support the troops lol.
Additional resources:
Coty Sweeney's USA Today Blog
Part 2 of the Top 5 Ways To DOUBLE Your Profits By December 31st 2010
Got a minute? If you do, I'd like to show you a guaranteed way that you can DOUBLE your profits by the end of 2010. This is advice you simply can't afford to miss - that is, unless you're already making more money than you know what to do with.
Continuing on with our 5 steps:
3. Bring in more customers
Now this seems like an obvious "duh" but hold on a minute. When I say bring in new customers, where does your mind go? Does it go to the same "tried and true" techniques you always use to find new buyers? Or did you start thinking outside the box, thinking how could I get new customers in ways I haven't tried before? The latter is what I'm talking about. Hardly any companies have ALL the lead generation methods nailed down - so there's most likely room for improvement in your business.
Here's a few ways you can use to get new customers (and don't say I can't do that to any of these - your business depends on how often you say I can, not I can't):
a.) Telemarketing - Contrary to what you might think, telemarketing is still a very good way of generating customers. Sure, it's not glamorous and you'll hear a lot of no's, but those extra customers you bring in are extra dollars in your pocket.
b.) Classified ads - Both online and off now offer classified ads and they both get read quite frequently. Places like Craigslist, Kiiji, Backpage, and more exist online, and we all know the offline places; Thrifty Nickel, local newspapers, etc.
You can target these places two different ways, putting your services out there for everyone to see (ad), or looking for people who could use your services and contacting them (kind of like a Craigslist/telemarketing approach). The second approach converts better, but don't discount ads.
Just make sure you're making your service or product look valuable - focus on promoting the VALUE of your product, not the price. "We offer the lowest prices in town" also implies "We offer the worst service in town" to many potential customers. An ad that focuses on the value you provide and the benefits they can expect draws a lot better crowd than engaging in a price war with your competitors. Remember, they are only your competitors until you increase your VALUE so much that no one can compare to you.
c.) Reactivating "dead" customers - remember all those people who bought your product/service before? If you provided the value I've been preaching, those same customers would be happy to buy from you again. You just need to remind them of your product/service and why they need it again. A simple email, letter, postcard, phone call, or visit can be the key to unlocking a flood of new profits.
Why?
Simple - you've already sold them once! You don't have to go through the whole selling process from start to finish, you just need to show them why they need your service on a continuing basis (continuity) or need a bigger solution (upsell). This goes into Step 2 a little, I know, but it is one of the easiest ways to add profits to your business. Don't overlook it.
While we are on the subject of easy ways to increase profits, let's talk about price again. I know you heard about it in Step 1, but it needs to be repeated again.
Increase your prices AND the value of your product!!!
If you do this first, not only will you start making more money right off the bat, your future steps will bring in more profits as well.
Think about it, if I do Step 3 and bring in 100 new customers but still charge the same price I did before (let's say I charge $500 for my services), I've increased my profits by $50,000. Not bad, but what if I had also increased my price 20% as well? Now those same 100 customers are worth $60,000 in new profits!
That would have taken 20 more customers at my old price; or let me phrase it this way - I cut my workload by 20% and still made the same amount of money! Now I have more time to give those 100 customers, meaning I can provide more value to them.
It's a win/win situation for everyone and all it took was raising my price and the value of my product/service a little bit, and stepping out of the box to attract some new customers.
Stay tuned for steps 4 and 5 - they offer even more power-packed ideas to DOUBLING your profits by the end of 2010! While you're waiting check out Paul Lemberg's Blueprints to Profits. He's an internationally renowned author and business coach and one of my new favorites to listen to. He preaches a lot of the same stuff I do, and he has helped his clients earn more than $350 million in increased profits! This guy knows what he is talking about and he's charismatic on top of it all. If you decide to buy Blueprints to Profits please let me know what you think.
Additional websites:
TeraPad
Continuing on with our 5 steps:
3. Bring in more customers
Now this seems like an obvious "duh" but hold on a minute. When I say bring in new customers, where does your mind go? Does it go to the same "tried and true" techniques you always use to find new buyers? Or did you start thinking outside the box, thinking how could I get new customers in ways I haven't tried before? The latter is what I'm talking about. Hardly any companies have ALL the lead generation methods nailed down - so there's most likely room for improvement in your business.
Here's a few ways you can use to get new customers (and don't say I can't do that to any of these - your business depends on how often you say I can, not I can't):
a.) Telemarketing - Contrary to what you might think, telemarketing is still a very good way of generating customers. Sure, it's not glamorous and you'll hear a lot of no's, but those extra customers you bring in are extra dollars in your pocket.
b.) Classified ads - Both online and off now offer classified ads and they both get read quite frequently. Places like Craigslist, Kiiji, Backpage, and more exist online, and we all know the offline places; Thrifty Nickel, local newspapers, etc.
You can target these places two different ways, putting your services out there for everyone to see (ad), or looking for people who could use your services and contacting them (kind of like a Craigslist/telemarketing approach). The second approach converts better, but don't discount ads.
Just make sure you're making your service or product look valuable - focus on promoting the VALUE of your product, not the price. "We offer the lowest prices in town" also implies "We offer the worst service in town" to many potential customers. An ad that focuses on the value you provide and the benefits they can expect draws a lot better crowd than engaging in a price war with your competitors. Remember, they are only your competitors until you increase your VALUE so much that no one can compare to you.
c.) Reactivating "dead" customers - remember all those people who bought your product/service before? If you provided the value I've been preaching, those same customers would be happy to buy from you again. You just need to remind them of your product/service and why they need it again. A simple email, letter, postcard, phone call, or visit can be the key to unlocking a flood of new profits.
Why?
Simple - you've already sold them once! You don't have to go through the whole selling process from start to finish, you just need to show them why they need your service on a continuing basis (continuity) or need a bigger solution (upsell). This goes into Step 2 a little, I know, but it is one of the easiest ways to add profits to your business. Don't overlook it.
While we are on the subject of easy ways to increase profits, let's talk about price again. I know you heard about it in Step 1, but it needs to be repeated again.
Increase your prices AND the value of your product!!!
If you do this first, not only will you start making more money right off the bat, your future steps will bring in more profits as well.
Think about it, if I do Step 3 and bring in 100 new customers but still charge the same price I did before (let's say I charge $500 for my services), I've increased my profits by $50,000. Not bad, but what if I had also increased my price 20% as well? Now those same 100 customers are worth $60,000 in new profits!
That would have taken 20 more customers at my old price; or let me phrase it this way - I cut my workload by 20% and still made the same amount of money! Now I have more time to give those 100 customers, meaning I can provide more value to them.
It's a win/win situation for everyone and all it took was raising my price and the value of my product/service a little bit, and stepping out of the box to attract some new customers.
Stay tuned for steps 4 and 5 - they offer even more power-packed ideas to DOUBLING your profits by the end of 2010! While you're waiting check out Paul Lemberg's Blueprints to Profits. He's an internationally renowned author and business coach and one of my new favorites to listen to. He preaches a lot of the same stuff I do, and he has helped his clients earn more than $350 million in increased profits! This guy knows what he is talking about and he's charismatic on top of it all. If you decide to buy Blueprints to Profits please let me know what you think.
Additional websites:
TeraPad
Part 3 - Step 4 of 5 to Double Your Profits By December 31st, 2010
If you've been keeping up with this series, you have already seen the power of these 5 steps and hopefully have already started implementing them in your business model. If you haven't - get off your a** and get to work. Money doesn't come to the lazy - it comes to those who act first and think later.
Let's go on to step 4...
Step 4 - Convert more leads into buyers
Back in Step 1 we talked about raising the price of your product and we discussed briefly about the concept of value and how important it was. Step 4 delves more into that concept. Specifically, we discussed the importance of making sure your product is EXACTLY what your customers are looking for, because the more a customer NEEDS your product, the less he cares about the price.
So how do you make sure your customers NEED your product?
Simple. Build your product around your customer's needs. Find out what your customers need and then shape your product to fill those needs. If your product is missing something, add it. If it has too much, take some away. Give the customers exactly what he is looking for and he'll pull out his wallet without even looking at the price tag.
But how do I know what they need?
Ask them. If you're already bringing in customers and just want to increase sales, ask your existing customers what they like and dislike about your product. Offer them an incentive (10% discount, gift card sweepstakes, etc.) to fill out your survey and then ask them to describe why they bought (needs), what they liked (needs you met) and what they disliked (needs you didn't meet). Then shape your product to fix the issues you discovered.
Don't have an existing customer base? Easy enough. Try a service like Zoomerang.com. They offer market research, satisfaction surveys, twitter and facebook surveys, and more. They have over 2 million people ready to take your survey; just pick your filters. Men, women, young, old, from California or Minnesota...you decide. Bottom line? You can increase your profits very easily by just learning a little bit more about your customers needs, and then helping them fill those needs.
That's it for today. Check out the last step, step 5, tomorrow. We'll be talking about the biggest enemy your business faces....you. You don't want to miss this!
While you're waiting. check out my mentor, Paul Lemberg. His new course, Blueprints to Profits, launches August 5th and his advice will take your business from a flatline to a full out rocket blast into the stratosphere. I'm serious. Want more? Here's an EXCLUSIVE Blueprints to Profits review.
I found a site offering a free laptop as their Blueprints to Profits bonus, so if you buy Blueprints to Profits check that out. Nothing beats FREE, right? Lol.
Additional websites:
Friendster
For those who have been following along - you've made it! Today we discuss the last step on your way to doubling your profits by New Year's Eve. This step is the most important step, so PAY ATTENTION, because if you don't master this step you will not succeed in business.
Step 5 - Do more work in less time
Personal productivity is the cornerstone to an entrepreneur or a small business. It is imperative that you, the small business owner, know how to manage your time and use it effectively.
Why?
In small businesses, you usually find the owner working 20 hours a day, trying to keep his business running smoothly, or just running at all. He's overworked, underpaid, and doesn't get to spend any time with the people he loves. Sounds a lot like a regular job to me!
Now I don't know your reasons for becoming a small business owner but most entrepreneurs start their own business because they're tired of working for someone else, or they want a job closer to home and family, or they want to bring an idea of theirs to life. Whatever your reason, I doubt your "dream job" consisted of you working nonstop 20 hours a day, 6 or 7 days a week.
So let's change. First, realize that you're not "working" 20 hours a day. You may be AT work, but you're not working 20 hours a day. You're probably only working productively about half or a quarter of that time. Start prioritizing your tasks. If something could be delegated, find someone and delegate it to them. Don't have any staff? Then that needs to be your first purchase. Free yourself up from the mundane tasks that take up your precious time and you can focus on the tasks that make you the most money.
Once you free yourself from the distractions and the "busywork" of your business, you can sit down and focus on what is really important. You can be the boss and leave the employees to handle the rest of the tasks. This applies to you even if you have no staff. Accomplish all your "employee" tasks and then set aside some time to be the "boss". Don't get so caught up in doing the employee tasks that you forget who runs the business.
These 5 steps aren't hard. They do demand a change, and it might not come easy to you, but business is about change, and successful business is about doing things a little different than everyone around you. But it's up to you. You can take these 5 steps and double your profits by the end of the year, or you can go back to doing it your way.
Want a detailed guide that takes you by the hand and walks you through these 5 steps? Blueprints to Profits, by Paul Lemberg, has over 60 hours of video and dozens of PDF's detailing the exact advice that Paul used to get his clients and extra $350 million in profits. He's an internationally renowned author and business coach who has been helping entrepreneurs and small businesses succeed for the last 17 years. Buy Blueprints to Profits today from these links and get a FREE laptop as a bonus.
Other websites:
WorldVillage
Step 5 - Do more work in less time
Personal productivity is the cornerstone to an entrepreneur or a small business. It is imperative that you, the small business owner, know how to manage your time and use it effectively.
Why?
In small businesses, you usually find the owner working 20 hours a day, trying to keep his business running smoothly, or just running at all. He's overworked, underpaid, and doesn't get to spend any time with the people he loves. Sounds a lot like a regular job to me!
Now I don't know your reasons for becoming a small business owner but most entrepreneurs start their own business because they're tired of working for someone else, or they want a job closer to home and family, or they want to bring an idea of theirs to life. Whatever your reason, I doubt your "dream job" consisted of you working nonstop 20 hours a day, 6 or 7 days a week.
So let's change. First, realize that you're not "working" 20 hours a day. You may be AT work, but you're not working 20 hours a day. You're probably only working productively about half or a quarter of that time. Start prioritizing your tasks. If something could be delegated, find someone and delegate it to them. Don't have any staff? Then that needs to be your first purchase. Free yourself up from the mundane tasks that take up your precious time and you can focus on the tasks that make you the most money.
Once you free yourself from the distractions and the "busywork" of your business, you can sit down and focus on what is really important. You can be the boss and leave the employees to handle the rest of the tasks. This applies to you even if you have no staff. Accomplish all your "employee" tasks and then set aside some time to be the "boss". Don't get so caught up in doing the employee tasks that you forget who runs the business.
These 5 steps aren't hard. They do demand a change, and it might not come easy to you, but business is about change, and successful business is about doing things a little different than everyone around you. But it's up to you. You can take these 5 steps and double your profits by the end of the year, or you can go back to doing it your way.
Want a detailed guide that takes you by the hand and walks you through these 5 steps? Blueprints to Profits, by Paul Lemberg, has over 60 hours of video and dozens of PDF's detailing the exact advice that Paul used to get his clients and extra $350 million in profits. He's an internationally renowned author and business coach who has been helping entrepreneurs and small businesses succeed for the last 17 years. Buy Blueprints to Profits today from these links and get a FREE laptop as a bonus.
Other websites:
WorldVillage
