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It's a strange anomaly.
Most people who set out to start
their own business, no matter what type, build it for failure,
not success.
Crazy isn't it? But true.
The saddest part in all this, is
that they don't even know that they are destined for failure long
before their dreams shatter and break apart.
Statistics tell us that within 5
years of start up 90% of all small business will go under.
My personal experience shows me
that 98% of all home based business will do the same.
Why?
Because they lack the fundamental
skills, education and development to plan ahead, foresee the
pitfalls, and capitalise on gains.
Here is a key secret to business
success. It's "Easy to Do", it's also "Easy not to
Do."
That applies to everything. It's
easy to do a business plan. It's also easy not to do one.
It's easy to create a marketing
plan, but it's also easy not to create one.
It's easy to pick up the phone and
call a new potential customer; it's also easy not to do it.
That one thing will determine your
success, or measure your failure.
However, on a brighter side, there
are three specific things that you must focus on doing if your
want to develop a powerhouse and dynamic business in 2002.
Those three things are:
1. Get potential customers to your
business.
2. Get those same people to come
back.
3. Get them to refer their
friends, family and associates.
Sounds simple doesn't it?
It's easy to do, it's also easy
not to do. And if you're not consciously aware of this business
reality, you're probably not doing these three things.
Let's look at them.
1. Get potential customers to your
business.
It does not matter what your
business, your product, or your services. Whether you are online
or off-line makes no difference. You absolutely must focus 50% of
your time and energy on gaining new customer enquires. (Initially
80% if you are just starting)
Use every method available to you.
Utilise every single resource. Study and learn what it takes to
get people to call you, or visit your Website, or mail you a
form.
I know I'm pointing out the
obvious, but if your head is stuck in product development, or
management and accounting you won't be able to see the trees from
the forest.
Customers are your lifeblood. They
are your bread and butter. They represent every reason why you go
into business in the first place - to make money.
So get them and get them quick.
2. Get those same people to come
back.
It's a proven fact that most
people will not buy from you on their first contact. There are no
exceptions to this rule. A prospective customer must have
exposure to your business an average of 5 - 8 times (depending on
your products and services) before they will even contact you.
The world of professional selling
tells us that most sales closes take place on the 7th contact.
What does this tell you?
If you work so hard at getting new
people to your business front, but then not getting them to come
back - you're building for failure.
Don't do it!
Stop right now and look at your
sales systems. Do they make allowances for automatic or
semi-automatic follow up? Do you offer Auto responders from your
Website? Do you have an off-line sales letter follow up plan. Do
you use contact management software so that you don't loose track
of potential customers?
Why do you think the Pro's in your
industry are the top income earners? Think about that. They keep
in touch with people.
3. Get them to refer their
friends, family and associates.
This is the cream of the crop.
When you set out in your business,
you must focus 80% of your time on getting new contacts. As your
business develops, you must then change that focus to 80% gaining
referrals.
Referrals are the sweetest
prospective customers of all. They are already pre-qualified.
They already want what you have to offer.
And you don't have to spend a cent
getting them!
If your business is online, you
can do this with a simple, click and refer a friend script. If
you're not on the web, you can do this by using a business card
referral system.
But even more - are you ready for
the kicker?
You must ASK people for their
referrals!
When you've got a great product
and a great service, it fantastic. But there is really no point
in working really hard to get a brand new fresh customer at great
expense when all you have to do is ASK your existing customers
for a few referrals.
Don't be shy. You ask, and most of
them will happily give.
It's that easy. Easy to do, easy
not to do.
Can you see the pattern developing
here, the difference between success and failure, those that do
and those that don't?
All these things are easy to do.
They are, really. But most people opt for the easier choice - not
to do.
The choice is yours. Build your
business for success with qualified customer flow and you will
reap the rewards.
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Paul Barrs is the creator of
"The Complete Guide to
Home Business Success",
as well as being a professional speaker, trainer and presenter.
He would like to offer you a free subscription to his "Home
Business Gold Online Audio e-Magazine" where each week
you'll receive a free audio seminar delivered to your in-box. To
get your subscription, go now to http://www.paulbarrs.com/ today.
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