7 Tips to Make More MONEY in 2010
Filed under: Building Your Customer Base, Business Development, Business Marketing, business advice
I had the pleasure of presenting to 40 business people at the Westport Wilton Chamber of Commerce Business Before Hours this morning. It was a great event! Many thanks to Lisa Thygerson, the Executive Director of the Chamber and her fantastic team; and to the Executive Director of the Westport Arts Center, Nancy Heller, who hosted the event. If you’ve never had the pleasure of visiting the Arts Center at 55 Riverside Avenue …. you need to get there. It will be a fantastic cultural experience for you.
During the event, I shared the following low cost, fundamental tips with the group to help them to grow their profits this year ….
1. Determine and write down your specific 2010 profit goal — the actual # – look at the goal every day to keep it always on your mind.
2. Know Your Numbers– not only your monhtly financials; but also your Key Performance Indicators – these will vary from business to business but here are a few that whould apply to your business = # of leads per week; conversion rate from prospect to sale; average dollar sale; profit margin; client retention; etc …
3. Write a Description of Your Perfect Customer and focus your marketing efforts of those that fit the description. This will reduce your marketing costs and time and increase your conversion rates
4. Establish and Follow a Consistent Sales Process. From the point when you meet a prospect through the point where you close the deal take the same steps with everyone. Only in this way will you be able to measure what’s working and what’s not.
5. Sell on Value; not on Price. If you focus on price you’ll get what you deserve because the prospect will then also focus on price. So focus on the value you bring and what you can bring to your prospect that your competition can’t.
6. Focus Your Marketing Efforts on Your Existing Customer Database. It’ll cost you less time and less money to close them into additional business because they already know you and your company. There’s gold in your database … focus on it.
7. ASK, ASK, ASK. Ask your clients for referrals. Ask your customers testimonials. And most of all ask your prospects for the business.
To build on these ideas and strategies come to our next interactive profit building workshop to be sponsored by CitiBank at their Westport Office on January 27th at 5:00. You can go to our ActionCOACH website at www.actioncoachnow.com to learn more and to register for this educational event.
Please post your comments below on the Business Before Hours Event …. also, feel free to share your ideas on how to grow your profits in 2010!
Comments
One Comment on 7 Tips to Make More MONEY in 2010
-
liveFerrari.com on
Thu, 21st Jan 2010 11:51 pm
And network with as many people as possible regardless of their respective industry. It is amazing how many opportunities arise from a simple conversation!
http://liveferrari.com
THE Ferrari discussion forum.
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!
Business Seminars
Sign Up for our one of our FREE Business Seminars.
Simply click the link below to get started.
Use Promotional Code "ActionBlog" for FREE registration.
-
