Business Link Rural Clubs - All Clubs Event 15 July 2010
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Transcript of Business Link Rural Clubs - All Clubs Event 15 July 2010
15 July 2010
Business Link Rural Dorset
Business Clubs
All Clubs Event
Power up your profits !
Charlie Haddon, Business Coach
May I be your Coach for the next 90 Minutes ?
To get us started….
Your presenter: Charlie Haddon
Blame
Excuses
Denial
Ownership
Accountable
Responsible
Are you Above or Below the Line ?
VICTOR
V I C T IM
To get the most out of your time, you must be open to learning new things…
I KNOW!
Interesting ..”
To get the most out of your time, you must be open to learning new things…
Action’s Definition of a Successful Business …
A Commercial, Profitable, Enterprise
- that works -
without
YOU!
Six Steps to Massive Results
MASSIVE RESULTS
Results
Synergy
Team
Leverage
Niche
Mastery From Chaos to Control
Predictable Cash Flow
Systematise for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
The ActionCOACH definition of a Niche ...
NO PRICE
COMPETITION
Creating Your Niche
Unique Selling Proposition
&
Guarantee
Number of Leadsx
Conversion Rate=
No. of Customersx
No. of Transactionsx
Ave. £££ Sale=
Revenuesx
Margin =
Profits
The 5 proven ways to increase
your business profits...
Let’s put in some numbers ...Number of Leads
xConversion Rate
=No. of Customers
x# of Transactions
xAve. £££ Sale
=Revenues
xMargin
=Profits
4,000x
25%=
1,000x2x
£100=
£200,000x
25% =
£50,000
Lead Generation
• Most Expensive of the 5 Ways …
• Most Risky of the 5 Ways …
• Needs Most T&M …
• Very Important Who & Where …
• Target and Offer …
• Biggest Payoff ultimately …
• Still have to be Converted …
• High #’s V’s High Quality …
• Cost of Dealing with Non-Converted Prospects …
• Only EXTERNAL of 5 Ways …
78 Strategies in the Toolbox
#5 - (Local) Magazine Advertising
#11 - Press Releases
#21 - Direct Mail
#44 - Named promotional gifts
#49 - Networking Functions
#54 - Host Beneficiary
#55 - Strategic Alliances
#61 - Trade Shows
#74 - Social Media
Lead Generation
• Biggest Limiting Factor to Company Growth …
• Always Overstated ...
• One of the Easiest 5 Ways …
• One of the Cheapest 5 Ways …
• Must break down T&M …
• Must Sell not Take Orders …
• Make or Break a Company …
• 7 No’s before One Yes …
• MUST ‘Ask for the Sale’ …
• Follow Up is Key …
Conversion Rate
80 Strategies in the Toolbox
#8 - Use a Testimonial List
#9 - Before & After Photos / Demos
#29 - Flowchart Your Sales Process
#30 - Audio, Video, CD Sales Demo
#34 - Use Prospect Questionnaire
#38 - Sales Scripts – Learn to Sale
#56 - Competitions, with Follow Up
#71 - Collect All Prospects’ Details
#72 - Stay In Touch, Cards, Newsletter
Conversion Rate
3 Most Important Parts of any Marketing Campaign
Target
Offer
Copy
What is successful advertising?
• Most Overlooked
• Assume Good Service will Bring them Back
• Medium Expense of 5 Ways
• Medium Risk of the 5 Ways
• Past Customer is your best Next customer
• Communicate Every 90 Days
•Costs 6 times more to get a new customer than to bring a past one back
• When was the last time you were invited back
• People love to come back
• Just have to Ask …
# of Transactions
68 Strategies in the Toolbox
# 1 - Better Service, Make Your Customers Feel Special, Give Them Magic Moments
# 5 - Keep in Regular Contact
# 6 - Inform Customers of Entire Range
#21 - Use a Multiple Purchase Card
#24 - ‘Until Further Notice’ deals
#26 - Plan Future Purchases
#27 - Offer on Future Purchases
#36 - Special Occasion Gifts/Cards
#51 - Catalogues so Customers can Re-order
# of Transactions
Your Ideal Customer ...
• Easiest to Increase of 5 Ways
• Power is Under-estimated
• One of the cheapest 5 Ways
• Some have massive Variance
• Just Measuring alone will give you a 10% increase
• Measure per Person/Territory/ Product Range/Store etc
• Easy to sell more to someone who is already buying
• Always Over-SELL
• Will Massively impact Profit
• Consistency is the Key
Average £ Sale
53 Strategies in the Toolbox
# 1 – Increase Your Prices
# 5 - Use a Checklist
# 6 - Use Questionnaire
#16 - Create Package Deals
#30 - Sack ‘C’ and ‘D’ Grade Customers
#39 - Stop Discounting
#41 - Give Away Perceived Value
#47 - Buy One Get One Free
#50 - Suggest Most Expensive First
Average £ Sale
OLD Selling V’s NEW Selling …
• Most Important of 5 Ways …
• Can Market Yourself Out of Business ...
• High Profit not High Revenue …
• Owners more scared by price rise than clients …
• Cheapest & Easiest of 5 Ways …
• Marketing will Improve …
• No Niche = No Margins …
• Live by Price, Die by Price …
Profit Margins
67 Strategies in the Toolbox
Profit Margins
# 1 - Increase Your Prices
# 3 - NO Discounting
#19 - Team Incentives based on Margins
#21 - Know Your Actual Costs
#23 - Set Monthly Expenditure Budgets
#27 - Do it Right the First Time
#46 - Reduce 30 Day terms to 7 Days
#55 - Outsource
#67 - Get Phone, Utility Bills Checked
Time Target
• Set personally motivating goals
• Don't finish today until you plan tomorrow
• Eat a frog for breakfast EVERY day
• Don't Major in Minor things
• Create a default diary and stick to it
• Invest time, don't spend it
• Have agendas for all meetings
• Have conference calls to save time
• Learn to delegate to your team
• Hire an Action Coach to keep you on track !
Action's Top Time Management Tips
With just a 10% increase ...
Number of Leadsx
Conversion Rate=
No. of Customersx
No. of Transactionsx
Ave. £££ Sale=
Revenuesx
Margin =
Profits
4,000x
25%=
1,000x
2x
£100=
£200,000x
25% =
£50,000
4,400x
27.5%=
1,210x
2.2x
£110=
£292,820x
27.5% =
£80,525
That’s a 46% increase inyour revenues ...
Quoting Warren Buffett...
“It is not necessary to do extraordinary
things to get extraordinary
results.”
World famous investorWorld’s 2nd wealthiest man£48 Billion net worth
Six Steps to Massive Results
MASSIVE RESULTS
Results
Synergy
Team
Leverage
Niche
Mastery From Chaos to Control
Predictable Cash Flow
Systematise for Efficiency
Structure for Growth
Well Oiled Machine
Multiplication or Acquisition
Stability
Cash
Time
Happiness
Diversification
Freedom
6 Keys to A Winning Team
1. Strong Leadership
2. Common Goal
3. Rules of the Game
4. Action Plan
5. Support Risk Taking
6. 100% Involvement and Inclusion
Quoting Jim Rohn ...
“Never wish your life were easier .. Wish that YOU were better.”
“Work harder on yourself than you do on your job …”
“Success is what you attract by the person you become.”
Thank You !