lead generation

Lead generation strategies are all around you!

When we meet with a new client, we get them to fill out a questionnaire which asks them what their major concerns are in their business. What is the most common answer, you ask? Not getting enough traffic ‘in the door’. Unfortunately, one of the common reasons that 8/10 small businesses fail is their lack of strong lead generation strategies. Almost every business owner we speak with is looking for more new leads. And there’s a good reason for this: the bigger your list of leads, the more opportunities there are to convert into sales for your business.

So how long does your search party for more leads need to go for? You will be pleased with what I tell you next… you can call it off! Our clients are always left gobsmacked once they realise the simplicity of increasing the number of leads in their business.

Now, there are roughly 84 different lead generation strategies, but if you start with these four you will most definitely be able to generate enough leads to keep your business growing.

Referrals 

Being absolutely free of charge whilst providing amazing results, referrals from existing customers is a strategy not to miss. Every existing customer is a walking, talking testimonial! And considering that in today’s world, one of the major factors that deter or encourage someone to buy from you are the reviews that are shared face to face or written online, having your customers share a positive review of your business is imperative to generate more leads. An easy way to do this is by making a habit of collecting testimonials and reviews and using them on your website and other marketing materials. This is a great investment in the future of your business, because repeat customers mean repeat business – so this lead generation strategy has an exponential effect. 

Strong Online Presence

Over the past decade, there has been a noticeable shift in buyer behaviour with our access to the internet becoming much more efficient and reliable. These days, 60% of the buying decision is made before someone will pick up the phone and speak with a sales person. If you have a strong online presence, you will consistently find new customers at a higher rate than your competitors who don’t.

Understand Target Marketing & Customer Acquisition Costs 

Do you look at your marketing as an expense or an investment? Good marketing which gains new customers is most definitely an investment. With that mindset, you will be able to develop a more targeted marketing plan, allowing you to market specifically to your niche. This brings good customers to any business far more effectively than broad-based marketing. Test and measure different strategies then invest the money to “buy” more customers at an acceptable acquisition cost.

Using Strategic Alliances

Need a new database of your target market? Why not exchange yours with another business?! One of the greatest resources for generating leads for your business is other businesses. A strategic alliance allows you to sell your product/service to your target market, by using a database from another business that sells a different product/service. Make connections, and find new customers!

Start by making small improvements in the 4 lead generating strategies above and you will notice a dramatic difference in your sales funnel.  Keep developing these tools and you are sure to generate enough leads to get your business soaring!

If you want to generate more leads in your business, let us teach you more strategies that are just right for your business. Click here or call us on 9146 4439 to organise a coffee with one of our coaches!

Now that you have a clear idea of where to start with your lead generation, I want to share with you a few helpful strategies on how to convert these leads into clients. But I will leave that for my next blog. For now…

“…You can’t hit a target if you don’t know what it is”

marketing plan

Get your marketing plan into shape with these 5 easy strategies!

Have you ever felt like your marketing activities just aren’t generating enough profits for your business, so you just give up on them? Or do you pause your marketing plan in order to save more money? Well consider this…

…If you put an end to your marketing plan, will you really save money? Yes, you will… in the way that stopping your wristwatch saves time. In other words, don’t kid yourself.

A marketing plan needs to be clear, simple, and most of all, consistent. Then you have to actually stick to it and, rather than halting its use, update it and make it better. If you let it go after 3 months of not seeing any results, you are guaranteeing that you’ll never see results.

Most business owners think that you must be a marketing guru to generate and implement a strong and profitable marketing plan. Well this should be music to your ears… there are only 5 key areas of marketing and sales that you need to focus on to build your business!

Over the next few months, I will cover each key area in detail. Here is a summary to start your journey to becoming your own marketing guru:

Number of leads – This area is all about how many potential clients you attract. Unfortunately, being unable to generate leads is one of the main reasons that so many small businesses fail in the first few years. The lead generating strategies we will teach you are both simple and mind-blowingly effective.

Conversion rate – Now that you are generating enough leads, how many of them do you convert into clients? Many business owners ‘wing’ the sales process and hope for the best. If that’s you, how is that going for your business? Having a detailed sales strategy will not only improve your conversion rate, but make it much more reliable.

Number of transactions – How many times a year do your clients buy from you? Increase this frequency by devising the ways you can encourage past clients to buy from your more often. Think about this… your existing customers already like what you do, which makes it about six times easier and cheaper to get a past customer to buy again than to acquire a new one! Get brainstorming!

Average dollar sale – How much do clients spend with you each time they buy? Imagine what would happen if you increased the value of each sale by 10%. That’s not a big jump, but it makes a big difference. By executing only one well-implemented price increase strategy, you could make a big difference to the bottom line.

Margins – What is the gross or net margin your business achieves? Improving your margin is one of the quickest way to improve your cash flow. Our clients are often left shocked when they learn that this, the easiest part of a marketing and sales plan, is the fastest and least costly to implement and will have the most immediate impact.

If you are thinking ‘this is too much to work on right now’, remember that all you need is a slight 15% improvement in each area, and that will be sufficient to double your profit! These 5 areas provide you with more than 350 different strategies to explore. All that’s left for you to do is to select the ones that are right for you, implement them effectively, and watch your business soar.

If you feel like you are investing in expensive marketing; that being, marketing which you do not receive a profit from, and just aren’t seeing the return, join one of our coaches for a coffee to discuss the ways in which we can help you.

Can you afford any more expensive marketing? Register here or call us today on (02) 9146 4439.

In my next blog, I will dive deeper into Lead generation and share with you my favourite strategies which will help you increase the number of quality leads attracted by your business. Till then, here’s a thought to take with you…

“…Unless commitment is made, there are only promises and hopes; but no plans”

time management

Time management is the key to getting more things done… our tips will show you how!

Eventually, down the track, all business owners discover that there just isn’t enough time for everything on their ‘To-do list’ – and there never will be. But it isn’t your job to try and do everything, no successful person does! What they do is focus on the genuinely important tasks – not just the urgent tasks – and ensure that those tasks get done, using time management, of course.

Brian Tracy explains one of the most important rules of personal effectiveness, the 10/90 rule, in his International Bestseller, ‘Eat that Frog!’. If you spend the first 10% of your time planning and organising your work before you begin, you will save as much as 90% of the time in getting the job done once you get started. Managing that first 10% is the most important part of becoming the Master of your time.

Here are a few tips on timely success:

  1. Categorise your tasks into ‘Important’ and ‘Urgent’ tasks. Urgent tasks are based on time, and need to be done straight away. Important tasks are the ones that will make a substantial difference to the value of your business. Once you have categorised your tasks, ensure that 60% of your time is spent on tasks that are important but not urgent.
  2. Use your 4 D’s by analysing what exactly needs to be done, delegated, deferred and dumped.
  3. Plan how these tasks will be completed, when and by who.
  4. Delegate the tasks to the right staff to ensure they get done.
  5. Ensure that you do the tasks that you have assigned to yourself through self-management.
  6. Do the toughest things first, and as Tracy says, eat the biggest and ugliest frog first, and you will have nothing worse to do that day. This stops procrastination.

Start with making a difference with the first 10% of your day and you will see the positive and efficient effect it will have on your business. Don’t forget that time management is about getting more things done effectively, not getting more things done.

If you want to start doing hard things the easy way, join us for our FREE 90-minute seminar. We want to share more tips on how you can get more time back in your life so that you can start living it.

Register here or call us on (02) 9146 4439.

After reading this blog, you should be well on your way to becoming Destination, Money, Delivery and Time Master. Now, your next challenge will be taking the next step towards building a better business. I’ll teach you that in my next blog, but for now…

“…The bad news is time flies; the good news is you’re the pilot…”

cash flow

Take your cash flow on a date and get to know it a bit better

Now that you have set your goals and are planning out your days, weeks, months and years to achieve those goals, it is time you become a master of your money. Money mastery is not necessarily about making a lot of money. It’s about knowing where your cash flow comes from and where it’s going.

In the end, your financials will tell the story of your business, just like reading a novel…. what sort of novel would yours be?  A drama?  A comedy?  A horror???

To discover your level of Money Mastery, consider these questions:

  1. Do you have a monthly profit and loss statement that you review? Is it understandable?
  2. Do you have a weekly cash flow forecast that looks at least 3 months ahead?
  3. Is your balance sheet up to date?
  4. Do you know what your breakeven point is each month, week or day?
  5. Is your cash gap under control?
  6. Do you issue invoices quickly? And follow them up quickly?

If you answered anything other than yes to any one of those questions, then you don’t know your money well enough. It is easy to form bad money habits early on in business, when there isn’t much money to deal with. Business owners often learn that managing cash flow and income only gets harder as the business grows…and, unfortunately, they often learn it the hard way – when they have a money disaster! But larger cash flow is not the cause of your money problems. It is purely due to the way you approach your finances.

Many business owners are mistakenly under the belief that more money means more headaches, but they’re the business owners who haven’t set the right foundations in place or mastered their money activity early on. But it’s simple!

It personally takes me a total of 10 minutes per Monday morning to update my weekly cash flow forecast. This means that I only invest 10 minutes per week to update and understand what my cash flow in the business will look like for the next 3 months, allowing me to identify possible issues and to make the most of my cash balances too! Do you have a spare 10 minutes to spend a week?

According to American Psychological Association, more than 70% of Americans consider themselves financially stressed.

Join the minority and become a Master of your Money by booking a FREE 1-on-1 consultation with one of our very own Business Coaches who have helped several businesses gain complete control of the money flowing in and out of their business.

My next blog will be posted in 2 weeks, and will teach you the secrets to how to get raving fans, but till then, here is a thought to take with you…

…“If you expect your money to take care of you, you must take care of your money.”

start up business

Getting control over your start up business has never been so easy

When your thoughts are in a knot and your mind feels chaotic, it is inevitable that your business will follow down that same path. Tony Robbins uses the 80/20 rule when discussing success, stating that success consists 80% of psychology and 20% of mechanics. Therefore the root of a start up business is fundamentally the psychology and skills of the leader. A noteworthy understanding that is commonly overlooked by business owners is that your business is yourself. With this in mind, it becomes apparent that if you can change your own mindset and well-being, you can change your business.

This is the first step in building a better business… Mastery. This step involves taking full control of the chaos going on in your mind and business. Within this step, there are four substantial elements. Believe it or not, but having these four simple elements in place will avoid future disasters and will get your business headed in the direction you want it to go.

As business coaches, we see a start up business go from chaos to control within a few months. The difference it makes, not only in their business but their life and well being, is truly magical. Any mastery gaps within a business can be identified during an initial analysis of a business and fixed usually within a month of business coaching with us.

Over the next couple months, I will be posting blogs about each of the mastery elements. Here is a quick summary on each element to begin your process of achieving mastery to help you in your business…

Destination Mastery

This component is all about getting clear on where you want to go. In my next blog, you will notice a strong correlation between those who have a written goal and those who succeed. Their secret is that they start with the end in mind which, simply put, is setting goals. Actually… not only setting goals, but also writing them down.

Money Mastery

Most would believe that this element is all about making lots of money. More importantly in this stage of a business’ evolution, money mastery is about knowing where your money comes from and where it’s going. You will be surprised to learn how easy it is to have control of your money. It takes me a whole 10 minutes a week to have complete money mastery… Yep, you read that right. 10 minutes out of your 10,080 minute week. Since I began taking 10 minutes out of my Monday morning to update my cash flow forecast, I have had a clear view at all times of the financial outlook for my business. Combined with a monthly Profit & Loss statement, clarity on my Break-even point and good invoicing processes, this gives me complete control over my business’ money!

Delivery Mastery

Whether you like it or not, you have no business without your customers. With this in mind, it would make the most sense to excel in your customer service in order to keep your customers happy and coming, right? Unfortunately, this is not always the case… but it should be! In his book ‘The Absolutely Critical Non-Essentials’, Dr Paddi Lund stresses that all business owners should systemize the ‘little things’ in their business. By doing the ‘little things’ to deliver an incredible experience for his customers, Lund created one of the most talked about customer service experiences in the world. And what did that give him, you ask? Raving fans.

Time Mastery

The most common excuse used in today’s business world is “I have no time” or “I am too busy.” I am here to tell you that you most definitely do have time and that it should be planned and managed in a way where 60% of your time should be spent working on tasks that are important, but not urgent. These are the tasks that build a great business. Take out 10-12 minutes to plan your day, and I guarantee that this small investment of time will save you up to two hours in wasted time and unproductiveness throughout the day.

Once these steps are in place, a start up business can really begin to shine and start using growth strategies to take it to the next level.

Learn more about the steps you can implement to improve your business by calling us today on (02) 9146 4439. You can also schedule a FREE 1-on-1 meeting with one of our coaches here.

Keep your eye out for the next blog on Destination Mastery. Until then, keep the thought below in mind:

Your business will not grow unless you grow as a person. If you want to lead others, you must lead yourself first.