Category: Startups

Word of Mouth Tactics – Part 2

In the last post we started our series on word of mouth and talked about how to make your customers purchasing experience a short, easy one. We are going to continue with that theme a bit today. We’re going to talk about the power of word of mouth and how to mold it to your advantage.

The reality is everyone needs an advisor to guide them to make a decision. We rely on the expertise of others to make the right decisions as they are explained to us. When you take the time to understand exactly what and how word of mouth works, you’ll see all the great advantages it has to offer you. Remember this path when working to understand word of mouth:

  • Accelerate the decision-making process for increased profits.
  • You can accelerate product making decisions by making the process easier.
  • Instead of low-ball advertising and the used car salesman approach, try delivering on your word of mouth promises.

Traditional advertising draws about one response for every thousand ads and most of those are to ask for more information before the customer even considers purchasing. When you get information from a friend, you are more likely to take their word for it and act. On average customers purchase two out of every five recommendations their friends make. That’s a HUGE difference.

So, what exactly is word of mouth? Well, we know how powerful it can be, but to define it: Word of mouth is a communication that happens between a customer and a potential customer. There is usually a relationship of some kind between these two people with an established level of trust.

Now, compare this to advertising where you are providing a message to a potential customer where they have not established relationship with you or level of trust. Who are they more likely to take advice from? The answer is clear!
We talked above about the benefits of word of mouth now let’s take a look at some reasons why it works. Some of these are:

  • The information is custom tailored to the potential customer because of the friendly relationship of the referrer.
  • It’s more personal, relevant and believable.
  • It,s customer driven.
  • It’s self generating and can take on a life of its own, especially with the information age of the Internet.
  • It becomes part of the product’s description.
  • The source of word of mouth can be important and more effective when coming from an expert.
  • Word of mouth saves you time and money.

 

To fully utilize word of mouth you need to understand:

  1. Where is your word of mouth coming from?
  2. What products are being affected by word of mouth?
  3. How is your word of mouth traveling?

Once you know these things you can work out a plan on how to trigger more word of mouth. This wraps up this lesson on word of mouth. If you need help understanding word of mouth and how it can impact your business, try our GUIDED TOUR to access our wealth of resources and tools.

Next time we’re going to dive into the nine levels of word of mouth. These levels help you understand which word of mouth is positive and which is not.

Don’t miss out on our new course for entrepreneurs and business owners. Take a look at Marketing Accelerated today.

We Must Seize This Moment

This is a time for action. A time to seize the moment.

It’s not a time to retreat.

Refuse to allow this crisis to stop you and your business from succeeding.

Learn more about the incredible Market Accelerated course HERE!

Multiply on Your Maximizing Resources – Part 4

The last few posts in this series have talked about how to multiply the resources that you’ve worked hard to maximize. So far, we’ve covered:

  1. Call in the Troops
  2. Bring ‘Em Out of the Woodwork
  3. Black Sheep Clients
  4. Olympic-Size Sales Staff
  5. Open Water Fishing
  6. Call for Back-Up
  7. Go Big Online
  8. Bartering with the Best
  9. Give Away the Farm

Today we’ll finish up this series with the last three ways to multiply your maximized resources. We’ll cover:

  1. Finding Your Pot of Gold
  2. Stay at the Top of Your Game
  3. Wealth from the Inside Out

These areas are all key to keep up the momentum you’ve found in making what you have work harder for you.

Finding Your Pot of Gold

You must always have a goal you’re working toward in order to stay on course. Your goal needs to be something you can attain and utilize your full potential. Don’t be afraid to aim high, just make sure you are clear on what your goal is and exactly what you need to do to get there. You need to continue to hold yourself accountable to your goal and raise the bar as you accomplish the steps to your goal.

Stay at the Top of Your Game

Once you’ve mastered these areas, you need to make sure you are staying competitive and constantly coming up with new ways to use your new tools. Don’t rest on one success when there are more on the horizon. To continue to be successful your business must continue to learn and revolve.

Wealth from the Inside Out

Wealth and riches are defined within yourself, not by your profits or the world beyond. You can use all these strategies in both your business and life to find a greater level of success. When you naturally reflect who you are and what you mean, you will automatically attract the right people to you. This will happen in life and in business.

You are capable of reaching your goals as long as they are well-defined, and a solid road is built to them.

Throughout the last seven lessons we’ve talked about how to take a hard look at the resources you currently have right in front of you and maximize them to get the most out of what you already have. Then turning around and multiplying those maximized resources to take them to the next level.

If you need help with any of these areas, steps or processes, try our GUIDED TOUR to gain access to our resources, tools and business coaches-All there to help you succeed.

Also make sure to check out the FREE Momentum Series, which will help you to gain clarity on where you want to go, WHY you want it, and how to get there!

Multiply on Your Maximizing Resources – Part 1

The next series of my small business marketing posts will cover how to take maximizing resources and multiply them for even bigger results.

In this first of the four-part series we’ll cover:

  1. Call in the Troops
  2. Bring ‘Em Out of the Woodwork
  3. Black Sheep Clients

Call in the Troops

Finding and securing new clients can be exhausting and expensive. Instead work with other companies to help you find new clients. Find solid companies with secure, positive relationships with their customers/clients. Also, ensure that their products/services are not directly competitive with yours.

Contact prospective partner companies and talk with them about helping promote your products/services to their clients. Always offer them a commission on the sales that come from their client lists.

Make sure to include these key points in your proposal:

  • Ensure that your products/services don’t compete with theirs.
  • The partnership will not take away from their current or future sales.
  • The partnership will increase their profits.
  • They won’t have to do nor spend anything on the partnership.
  • You will produce all needed marketing materials.
  • You will offer an unconditional guarantee on all products/services.

 

Bring ‘Em Out of the Woodwork

If you take the time to put together a solid referral system, you’ll draw new customers/clients out of the woodwork through everyone you already know. You can start doing this through first showing all your current clients how much you care about them.

Then show them how your products/services can significantly improve their lives or businesses. If you can do this consistently, they will naturally and comfortably bring new clients right to you.

Black Sheep Clients

One of the best ways to rejuvenate business is to find your stray clients and offer them something amazing. First you need to understand why they strayed and are no longer purchasing from you. There are generally three reasons why customers/clients leave. They are:

  1. Unrelated causes that have nothing to do with you
  2. A problem with their last purchase
  3. No longer benefit from your products/services

The best way to bring these clients back is to simply contact them. If you don’t make the first move, they’ll never come back. You make an appointment to visit them or call them if it’s not possible to meet in person.

Talk openly with your stray clients. Let them know you noticed they were no longer working with you and that you’d like to talk with them about their experiences with you and how you can improve things to work together again. Take the time to make them feel special and work hard to make sure their experiences with you going forward are the best ever.

This wraps up the first three areas on how to multiply your maximized resources. If you need help working on any of these ideas or processes, try our GUIDED TOUR to work with an experienced business coach. Also, make sure to get registered for our Momentum Course while it is still available for FREE!

Next time we’ll talk about the next three areas of multiplying your resources. They include: Olympic-Size Sales Staff, Open Sea Fishing and Call for Back-Up.

Marketing and Advertising – Generating More Leads For Your Small Business

Business owners today are in the fight of their lives. The global economy is in shambles, they have no additional revenue sources they can tap into for financial support during lean times – and perhaps worst of all, marketing and advertising just don’t work as well as they used to. In fact, for many small business owners, marketing isn’t producing any results for them at all… and their financial situation is growing more desperate by the day. As a business owner or entrepreneur, if you’re struggling right now to generate more leads and clients for your business, and you need to find immediate ways to dramatically increase your business’ bottom-line revenue, over the next few issues of SAVVY The Business Magazine I’ll show you how I can help you make all of these problems disappear forever. Over the next few issues, I’m going to give you back door access to a series of powerful business growth strategies that are some of the most powerful revenue-generating strategies ever created. So let’s get started.
Small Business Owners - Marketing and Advertising
Photo by Pixabay on Pexels.com
More Leads – Marketing and Advertising Let’s face it. The major hot button for most small businesses these days is the ability to generate leads. All small businesses want more leads, but few of them know how to successfully attract customers to their business. As a coach, I have in-depth knowledge and skill when it comes to generating leads. So here’s the process I use to do this. If you’re like 99% of the business owners I speak with, you may often feel lost or overwhelmed as you try to navigate through all the various options available these days. Websites, social media, SEO, email marketing, Facebook, pay-per-click and so on. Let me do you a favor right now and completely remove that overwhelm from your life forever. Are you familiar with the 80/20 rule? For business owners, it means 20% of what you do every day is generating 80% of your total annual revenue. In other words, you’re only doing a few things daily that makes you most of your money. I can tell you specifically what makes up that 20%, and that’s all you really need to focus on. There are 5 areas that make up that 20% – leads, conversions, transactions, pricing and profits. To show you the potential impact we can have in these five areas, I use a tool called a Profit Growth Calculator. Do you by chance know the exact number of leads and sales you’ve made over the past 12 months? No! That’s OK… let’s plug in numbers for a make-believe business. Let’s say your business generated 1000 leads in the past year… and your average conversion rate was 25%. Let’s also say your customers bought what you sell 10 times throughout the year… and they typically paid on average around $100 per purchase. Finally, let’s say your profit margin per sale is only 25%. Notice at the bottom that you’re earning $62,500 annually. But, look what happens if we simply increase each of these 5 areas by a meager 10%. You would see your annual revenue almost double from $62,500 to over 6 figures. By the way. Most business owners would KILL to almost double their revenue, wouldn’t you agree? Now, watch what happens if you could increase each of the 5 areas by 50%. Your business would skyrocket from $62,500 to almost half a million dollars annually. Now, you may be thinking 50% gains in each of these 5 areas would be next to impossible. Let me assure you, a 50% increase is possible, and I’m going to prove it to you right now. When asked, most business owners tell me “word of mouth”, or more often than not “referrals”, are how they generate leads. Referrals are obviously an excellent lead source. In fact, it may be the best one by far, but the problem is you never know when you will get them. They’re not reliable and you certainly can’t generate them whenever you want. 99% of businesses today do have a website. Do you know for sure how many leads your website generates every month? Do you know for sure how many sales your website produces every month? Can I show you why your website isn’t generating leads or closing sales for you. Here’s the key to successful marketing. You MUST be able to enter the conversation taking place in the head of your prospects. Or, another way to look at it is to be able to address the number one question on your prospect’s mind at just the right time. So how do you do this? It’s actually quite simple when you know and understand the fundamentals of marketing. The conversation that’s taking place in EVERY prospect’s mind revolves around two major points. There’s a problem they have, and they don’t want… and there’s a result they want but don’t have. Now believe it or not, there is actually a marketing formula we follow that takes these two points into account and spits out a message so compelling it practically forces your prospects to buy what you sell. It’s called the Conversion Equation, and it looks like this – Interrupt, Engage, Educate and Offer. The Interrupt is your headline – which means it’s the first thing someone sees when they visit your website, read any of your marketing collateral, or hear you speak. When someone asks you what you do, it’s the first words out of your mouth. That’s your headline… and it MUST address the problem your prospects have that they don’t want. The Engage is your sub-headline – which is the second thing your prospects see or hear. It MUST address the result your prospect wants but doesn’t have. The Educate is the information you provide… either verbally or in writing… that presents evidence to your prospects that you and your product or service are superior in every way to your competition. Unfortunately, MOST businesses aren’t different from their competitors, and that’s why you MUST innovate your business to create what we refer to as a market-dominating position. You MUST make your business unique… it MUST stand out from the crowd. It MUST make your prospects say to themselves that they would be absolute idiots to buy from anyone else but you – regardless of price. And finally, the Offer. You MUST create a compelling offer that makes it so irresistible your prospects can’t turn it down. But, here’s another critical fundamental of marketing. Because of the saturation of marketing messages these days, most prospects have become numb to most marketing. Following our Conversion Equation can dramatically overcome this, but even with this powerful tool in play, it will still take multiple “touch” points before your prospects will buy what you sell. For most businesses today, it takes anywhere from 20 to more than 100 touch points before a prospect makes their buying decision. Following the Conversion Equation reduces the touch points to somewhere between 5 to 12 points of contact. But here’s the key… most businesses don’t follow up with their prospects at all, and this provides a HUGE window of opportunity for ANY business that does follow up… to position themselves as the dominant force in their industry. But, in order to have the opportunity to get your message in front of your prospects 5 to 12 times, you MUST find a way to collect their contact information, and that’s the purpose of your Offer. Most businesses offer something that only appeals to prospects we call NOW buyers – prospects ready to make an immediate purchase. Unfortunately, NOW buyers make up less than 1% of the total number of prospects that are in the market to buy what you sell. These businesses typically offer prospects a free consultation, a discount, a coupon, a free assessment, a complimentary quote, or the biggest mistake of all… CALL US! For most businesses, all of their marketing material… their website… their business card… all list their phone number as their sole offer… and that ONLY appeals to that 1% of NOW buyers. The remaining 99% of viable prospects are “investigating” and gathering information about what you sell. They’re searching for information because they want to determine who is offering the best value. You see, prospects DON’T shop price – they shop VALUE! The only reason prospects consider price is that most businesses don’t give them any other value proposition to consider except price. Remember what I said a moment ago about making your business unique – creating a market-dominating position? Most businesses don’t do that, and since they… and all of their competitors… look exactly the same, prospects are FORCED to shop price. So, with these fundamentals in mind, let’s see how your website stacks up to them. Let me tell you about a website we recently revised for a child psychologist so you can see what I mean. His website was typical for his profession. He had a very generic headline – Parenting Advice and Resources from Dr. John Smith He has to have a headline like that because he’s attempting to be all things to all prospects. Basically, this doctor helps parents deal with adolescent problems. He had a list of the 9 areas he specialized in – emotionally disturbed kids, behavioral problems, teen pregnancy, peer pressure and so on. So, let’s compare this site with the fundamentals we just discussed. First, you MUST create a market-dominating position. This doctor could actually create 9 of them by simply positioning his specialty in each of his 9 individual areas of treatment. For example, let’s say he decides to start with the top condition on his list… emotionally disturbed kids. These are kids that yell, scream and constantly have a highly belligerent attitude toward their parents. They scream at them and are known in some cases to threaten the parents. These kids can’t be reasoned with and these poor parents have NO clue how to deal with this situation. So, here’s what this doctor needs to do. Forget the website completely – this doctor needs what we call a squeeze page. This is a single page that’s online and specifically addresses ONLY this one condition. So, what should this page look like… and what should it say? Remember the second fundamental – you MUST enter the conversation taking place in the head of your prospect. There’s a problem they have they don’t want… and there’s a result they want but they don’t have. This is where we implement the first two components of the Conversion Equation… Interrupt and Engage. The headline is the Interrupt and it must address the problem they have and don’t want. We started with a new headline – Are You Sick and Tired of the Yelling, Screaming and Belligerent Attitude of Your Child? Does that address the problem these parents have and don’t want? Would you say that’s a 100% bullseye? Now, for the Engage which is the sub-headline. It MUST address the result they want but they don’t have. We used – Now You Can Discover the Secrets to Controlling Your Child and Instantly Restore Peace and Quiet in Your Home. Would you say that’s bullseye number two? Now, let’s look at the third Conversion Equation component… Educate. On the doctor’s original website he had a short video, because he’s trying to appeal to all prospects, his video said this – “Greeting parents. I want to welcome you to remarkable parenting. You will find tons of great information here with hundreds of pages of articles.” Think how ridiculous this sounds if I’m one of these parents with a kid that has a belligerent attitude. Do I want to read hundreds of pages of articles? Or, am I searching for a specific solution to a specific problem? Do you see why most websites these days are basically a total and complete waste of money? They don’t address the things your prospects are truly looking for. Here’s the new script we created for this doctor. “As a parent, are you struggling to gain control of your child’s attitude and emotions? Is your child yelling and screaming at you, while often displaying a belligerent and sometimes threatening tone that no matter what you do or try… you just can’t seem to get under control? My name is Dr. John Smith, and I help parents like you every day learn the techniques that will solve these frustrating and destructive behavioral patterns once and for all. In fact, let me prove it to you. Enter your first name and email in the box to the right, and I’ll send you a series of 60-second techniques that will immediately restore peace and quiet in your home.” Think that just might get more prospects to respond to this message? And that brings us to the final component of the Conversion Equation… the Offer. Look at the doctor’s original offer. His original site was offering a free consultation. The only prospects that will accept that type of offer are those NOW buyers. Remember, they’re less than 1% of the total number of prospects looking for this type of help. When your offer is to “call me,” that basically says “let me sell you” to your prospects. We are so used to getting non-stop sales pitches these days that we resist calling anyone with every fiber of our being. This type of offer is called an incentive offer, and incentive offers only work for common purchases, emergency situations and impulse purchases. And remember, most prospects don’t buy until they have been exposed to your messaging somewhere between 5 to 12 times. If you tell prospects to “call you,” and most won’t, how do you keep marketing to them? Obviously, you can’t. The secret to effective marketing is to offer what most prospects truly want… INFORMATION! Look at the last sentence in the child psychologist’s video script… “enter your first name and email in the box to the right, and I’ll send you a series of 60 second techniques that will immediately restore peace and quiet in your home.” That offer is ZERO risk to a prospect, and it offers them something they truly want… a solution to their problem. They can receive it by simply providing their name and email address… WITHOUT having to speak to anyone… or be subjected to any type of sales pitch. That’s why the offer on this doctor’s squeeze page says, “Learn the Secrets to Gaining and Maintaining Complete Control of Your Child in Less than 60 Seconds.” Is that a highly compelling offer that would appeal to a majority of the prospects directed to this page?
And do you now see why we call this a squeeze page? There are NO navigation buttons on this page to distract the prospect. In fact, there is only ONE action they can take… enter their contact information. Otherwise, they have to close the page completely… and if they do, THAT is when we can redirect them to the doctor’s main website to see if there is something else that might grab their attention. That informational offer provides them with proof that this doctor can actually get them the results they’re looking for, and then within that information is an offer for them to schedule a consultation with the doctor, which they are now more likely to do. But consider these numbers for this doctor’s original website. He could easily generate 300 or more leads per month using a pay-per-click campaign on Facebook. Those leads are then sent to his original website. He will then average around 10% of those leads… or 30 prospects… will see his offer for the free consultation and will call to inquire about it. Notice I said INQUIRE about it, NOT request it. Out of that 10% that will call… only 10% of them will actually consent to the consultation… which equals 3 prospects. Fortunately, for most professionals like this doctor, they typically convert 100% of the prospects they get in front of… so those 3 prospects will more than likely become patients. Note that out of 300 leads, the doctor winds up with 3 new clients. That is the national average today – 1% of all leads generated will typically convert into a new client. But, now let’s look at the doctor’s new squeeze page. First of all, let’s leave his number of leads at 300 per month. That squeeze page won’t impact that number whatsoever. Do you think this new page will increase the number of prospects that will request this doctor’s secrets to gaining and maintaining complete control of their child? The doctor was getting 10% with his old site. What percent do you think would request this new, more compelling offer? Most responses I get average somewhere between 50% to 70%. Well, suppose we stay really conservative and say that just 20% request the new offer. That would mean 60 prospects would receive those secrets and actually see for themselves that this doctor’s methods really work. And once they do, what percent of those do you think might request the consultation with the doctor? Remember, that originally it was just 10%. Again, most responses I get average between 50% to 70%. I would tend to agree with those numbers, but we know he originally converted 10%, so to be really conservative, let’s just leave that conversion rate the same… 10%. So, out of the 60 prospects requesting the doctor’s secrets, 6 of them now request the consultation. And let’s assume like we did originally the doctor converts all 6 of them into patients. That’s an additional 3 patients per month, isn’t it? Now, let’s say this doctor only charges $800 for his services. $800 times 3 new patients is an additional $2,400 per month… which is an annual increase of $28,800. That’s obviously a dramatic increase in revenue considering we’re being conservative… and all we did was make some slight changes to this doctor’s site. So, let me ask you this. Do you think we could get similar results for your business? How many leads have you generated in the last 12 months? How many leads would you estimate you’ve generated this month? How many of those leads requested your offer? If we could create a similar process for your business… and offer compelling information to your prospects just like we did for the child psychologist… do you think more prospects would respond? By what percent? Could we conservatively agree that a 10% opt-in rate is easily a no-brainer? Do you realize just that one change alone would double your current sales revenue? And that’s assuming we don’t increase your number of leads or your final conversion rate… which we will. If you said your last month’s revenue was $25,000… then just this one change alone adds an additional $25,000 to your bottom line. But consider this! That additional revenue is NOT just a one-time increase. That’s revenue the business will generate year after year after year. If you would like more help on this you can contact me directly at jeff@jeffheggie.com, or check out what our E-Learning Marketing System has to offer in our GUIDED TOUR.     Get my Momentum Training Series for FREE HERE! Jeff Heggie Business Development Coach www.JeffHeggie.com

[Traffic Secrets] Russell Brunson’s New Book Is Coming!

Did you read Russell’s Brunson’s last two bestselling books…

Dotcom Secrets or Expert Secrets?

If you did, then you know how much they impacted your business.

Without a doubt, those two books changed the way I approach marketing, sales, and funnels.
Which is why I’m so excited about the release of “Traffic Secrets.”

I’ve been waiting a long time for this.
And it’s finally here!

He’s giving special access to his most loyal #funnelhackers and fans to Pre-order “Traffic Secrets” NOW. http://bit.ly/Traffic_Secrets_Book

It’s FREE. All you gotta do is take care of the shipping.

Your book gets shipped on May 5…

But you can claim your copy now.

And if you want the audio version (which I’m all about), that’s available as an add-on option if that’s your thing… (AND you wouldn’t have to wait for the hard cover copy to release!) 🤯

The first run is going to be insane, and most likely copies will sell out.

So pre-order your copy now. http://bit.ly/Traffic_Secrets_Book

Pre-order “Traffic Secrets” NOW  


Talk soon!

Jeff

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Killer Mistakes – Part 2

In Part 1, we covered the first two of the 5 biggest mistakes you can make in dealing with big fish clients. Today we’ll cover the third and fourth ones: Taking on More Than You Can Handle. When you take on too much, your business can’t keep up and therefore you can easily lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to have a plan for how you will handle the growth. Your clients expect great customer service and highly quality products/services, they don’t know or care about your behind the scenes operations to get those things done. Look for these signs that you are taking on more than you can handle:  
  • Clients’ needs aren’t being met.
  • Employee morale is low, clients are upset and you’re in a panic.
  • You have to react in emergency mode to save accounts.
  • Your current clients are suffering from trying to keep up with new business.
  • Profits are going down.
  • You are just trying to pick up the pieces of your business.
  • Your clients/customers leave.
  • Resources are being reallocated.
  There’s a trick called the Mock Fish Plan. This plan can help you react positively when you are facing some or all of these things and help you get your business back on track. This plan will:
  • Help increase sales in a short period of time.
  • Alter your products/services for the better.
  • Fulfill the promises you made to your clients.
  There are six steps to this plan:
  1. Bring in your best team and have them all help to meet the fish needs.
  2. Review your operational system.
  3. Anticipate future problems better.
  4. Communicate better.
  5. Include costs in your quotes.
  6. Always have a back-up plan.
All Your Eggs in One Basket You can allow your company to become dependent on any one fish. Eventually or for certain periods there is going to be a slowing down period with your fish. In order to stay in the game you need to diversify. If you’ve ever mishandled a fish, you could drive away potential fish as well. In order to keep balance and prepare for a strong future, there are a few things you can do. These things include:  
  • Stay in the loop and try to know what’s going on inside your fish company.
  • Constantly reinvent yourself and stay at the top of your industry.
  • Stay exclusive.
  • Try to secure multi-year commitments and contracts.
  • Spread your contracts out.
  • Price your products/services correctly.
  You also need to work to reduce your dependency on your fish. This can generally be measured in sales or profits. Take a look back at the process we’ve used thus far to snag more fish to keep this all-in balance. These are the ways you can help avoid the killer mistakes that can make you lose it all. If you need help with any of these tips or tricks, try our GUIDED TOUR to get the help you need fast. Next time we’ll talk about the last of the killer mistakes and how to combat it from hitting your business hard.  

On a separate note, I was just at the grocery store and felt like I was in a scene from I am Legend. With everything that is going on in the world right now with the Corona Virus (COVID-19), there’s a lot of panic going on. As a business owner, what are you doing? Are you looking to grow your business or are you just living in fear? Every Wednesday at 5PM MST we have our Inner Circle Mastermind. This is a group of success-focused, big-thinking entrepreneurs that are helping each other take their businesses to the next level. For the next while, our focus is going to be on helping one another grow their businesses during this time of uncertainty. If you would like to join this amazing group, or just learn more, CLICK HERE!

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Killer Mistakes – Part 1

There are 5 big mistakes you can do that will kill a deal with a big fish. They are:

  1. Not meeting the client’s expectations
  2. Mishandling a client crisis
  3. Taking on more than you can handle
  4. Putting all your eggs in one basket
  5. Up cash creek without a paddle

Any one or combination of these can not only kill the partnership, but have the ability to take down your company as well. We’re going to take a bit of time to talk about each one of these, in this lesson we’ll cover the first two.

Not Meeting Client’s Expectations

It’s essential you give your client’s exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.

A couple of things could have contributed to this problem:

  1. Bad salesmanship. This could mean the salesperson was trying too hard to seal the deal and didn’t listen to the client’s needs.
  2. Lack of communication. This breakdown occurs between the salesperson and your operations department.

In order to avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:

  • Think before you speak.
  • Give yourself a break.
  • Perfect your process.
  • Pre-format over-deliverables.
  • Stay hands-on throughout the entire process.
  • Define success.

 

Mishandling a Client Crisis

Crisis’ will happen, but how you respond and fix them will define your company and interaction with your clients’. You need to respond quickly and effectively. This will help you gain even more trust and confidence from your client.

Some simple tips can help you deal with any client crisis:

  • Take responsibility and apologize no matter who is at fault.
  • Act swiftly and effectively.
  • Step in and take control of the situation.
  • Never point fingers or place blame.
  • Stay in constant communication with your client.
  • Stay calm throughout the situation.
  • Keep your eye on the ball.

 

Now, that you know the top two mistakes you can make to kill a big fish deal, you’ll know better how to avoid making these mistakes in the first place and know how to put a plan of action into place in case of a crisis.

If you need help with any of this, try our GUIDED TOUR to get all the help you could ever need.

Next time we’ll talk about the 3rd and 4th killer mistake you can make in working with big fish clients.

Keep Up The Momentum

In a recent post, we talked about negotiating with your big fish and how to nurture and build on the relationships you are creating. Today we’ll talk about the power your fish has and how to utilize that for your benefit.

One of the most important aspects of this is to keep your cheerleader cheering. This refers to the ally you created in the company and who needs to stay loyal to you for you to continue a profitable partnership with your fish. You can keep your champion going by offering or doing a number of things to show appreciation. Some of these things are:

  • Share the limelight.
  • Help them thank their company with new products and services.
  • Emotionally connect them to your company.
  • Know when to leave them alone.
  • Keep your “family” happy.
  • Stay on the front lines.

 

Now that you have some ideas on how to build solid relationships, you need to seek out people to build these relationships with. These alliances will help you get bigger clients that stay with you forever. You can often get in the door by offering them something in exchange for something they need:

  1. Power
  2. Information
  3. Better work experience

These are all great ways to feed your alliance. You need to go into a relationship considering the things a big fish can offer you besides money. These can include:

  • The opportunity for your business to expand
  • The opportunity to learn from the experience and find ways to grow
  • The opportunity to improve your processes, systems and other means of doing business

 

These are some of the best ways to keep your alliances going strong and your partnerships fresh and content.

If you need help with any of these tactics, try our GUIDED TOUR for great tools and resources that can help you every step of the way.

Jesse Tee Interview

In Episode 003 of The Jeff & Heidi Show, we interview Jesse Todisco of 46 & 2 Wealth Partners and The Jesse Tee Show.  

Episode 003 Guest: Jesse Todisco (Jesse Tee)

The best career in financial services is that of a financial caregiver, business operator and true purveyor of advice. Continuously evolving as a financial caregiver allows you to use money as a conduit to a more fulfilling life for your clients and for yourself. Jesse is the founder of 46 & 2 Wealth Partners, a fee-only registered investment advisory firm. Our business ethos is rooted in helping people explore the wisdom of true wealth. Jesse also hosts The Jesse Tee Show. A mindset focused podcast that teaches anyone hunting greatness in business, health and wellness and in relationships the secrets to success. At an early age, Jesse realized he had a knack for being an entrepreneur. He would buy, sell and trade comic books and sports cards. Growing up in Boston, during the harsh winter months, Jesse would shovel his neighbor’s sidewalks and driveways earning a few dollars and other times, a cup of hot chocolate. In 2006, Jesse moved to Georgia and resumed his entrepreneurial path after leaving the military. He founded a series of successful companies that brought him to Charlotte, NC. After building an organization, Jesse and his wife Alicia experienced the loss of their daughter, Alana. They decided to move back to the Atlanta area to be closer to friends and family and continue the dream of starting a family. In 2011, Jesse entered the world of financial caregiving. Since then he has become more and more passionate about upholding his fiduciary responsibility to those he serves. Jesse has been happily married to his wife Alicia, for 6 years and together they are the proud parents of two sons. Jesse is a passionate human optimization nerd, enjoys the outdoors, and loves spending time with family, reading, cooking, and learning.   Find out more about Jesse at: https://46and2wealthpartners.com https://www.youtube.com/channel/UCHVlX9V5wzTQCZl1QXEw16w https://directory.libsyn.com/shows/view/id/thejesseteeshow Instagram – @jesse_tee http://linkedin.com/in/jessetee  

D. Jeff Heggie Links:

https://jeffheggie.com/ https://jeffheggiebusiness.com/ https://jeffheggiecoaching.com/ https://www.instagram.com/jeffheggiecoaching/ https://www.facebook.com/JeffHeggieBiz https://www.linkedin.com/in/jeffheggie/ http://bit.ly/MastermindSpecialOffer linktr.ee/JeffHeggie   Heidi Anderson Links: http://www.ecibfs.com/ https://ecisecurepay.com/ https://www.facebook.com/Electroniccommerceinternationalfanpage/ https://www.linkedin.com/in/heidianderson0426/
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