Making Your First Million.pdf - Association of Net Entrepreneurs and ...

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Making Your First Million "Well, we advertise in the local paper. We have helpful staff. We follow all the guidelines of our industry association. We're quality assured". That tells me about you and what you do. Tell me about your customers. Which customers are coming in next week and what and how much are they going to buy? We will make a thousand times more money from a good idea than ever we will from bending our backs When you can partly answer that question you are close to possessing that one good idea. What I am about to tell you will give you the solution to unlocking the millions of dollars NOT being spent at your place of business. Automatically and with no effort on your part. Of the 18 million people in my country (Australia) perhaps five or ten thousand will be your customers, and of these perhaps twenty per cent are regular customers and perhaps a hundred will account for 10% of your turnover. You'll have 60 customers a day spending an average $63 each. And you ask yourself: "How can I increase my sales?" What are you going to do? You can take out an ad in the local paper offering 10% off which costs you $600, accounts for maybe $1300 in sales at 30% instead of 40% margins and you’ve lost money. The paper's "Advertising Accounts Executive" will tell you: Yes, but you've got 20 new customers and they're likely to come back again and again. Hmmm. Or you bite the bullet and commit $9,000 to advertising during the local news hour and occasionally on Burke's Backyard. And the results are the same or worse. Who'll keep your sales ticking over all this time you're gambling with the firm's future? Your customers. Most new business owners fall into the trap of neglecting their customers in favour of trying to drum up new business. Worse still, their existing customers become disenchanted with them and move on. SiteSelling.com 94
Making Your First Million Summary • To double sales you need to break the limiting mindset and think outside the square • You need to work on the business, not in the business • You need to do things differently in order to get a different result SiteSelling.com 95
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