Tag: startup

Minding Your Own Business

The concept of minding your own business means that while you are grinding away at your day job you need to be investing in your future and minding your own business and working on your side hustle. Pretty soon you’ll be able to walk away from your day job and mind your own business full time.

The best way to do this is through the acquisition of real estate.

Let’s take a quick look at where you are losing all your money… taxes.

Taxes have been around since 1913 in the U.S. (earlier in England). While the original intention was to only tax the wealthiest of the population, obviously that’s trickled down to the masses, including those in poverty.

Now, keep in mind the more money you make the more taxes you pay. The wealthy know a way of getting around this-form a corporation. Corporations offer tax benefits and protect you from lawsuits. To learn more about this talk with one of our business coaches or your attorney.

We’ve all heard the golden rule of Pay Yourself First.

But, many of us don’t do it. Until you learn and put this rule into effect, you won’t have any chance of getting out of the rat race. What this rule does is force you to come up with more income to pay your expenses.

There are some key areas of finance you should learn about, taking classes is one of the best ways to do this. Here are the basics you should learn:

 

Accounting

It pays to know how to read financial statements. When acquiring businesses or assets you need to quickly see the financial standing of the company you are acquiring.

Many grown adults do not know how to balance a balance sheet. In the long term, this knowledge will pay off for you and your business.

 

Investment Strategy

This skill will sharpen with experience. Talk to investors and observe how they play the game.

 

Market Behavior

Know the laws of Supply and Demand. No business owner can do without understanding these basic principles of the market. Bill Gates saw what people needed. Open your eyes to opportunities. Look at what sells and who buys.

 

Law

Grow your business within legal boundaries. Know your corporate, state, and accounting laws.

Once you know these areas of finances you can make them work for you. The rich practically invent money. You have to know where to find a great deal. Let’s continue with real estate. Look for houses in trouble or find the court in your area that handles foreclosed, police impound or other real estate situations. You can either renovate and sell or rent for residual income.

So, essentially there are two main types of investors:

  1. Those who buy pre-packaged investments
  2. Those who create their own investments

You know which are the most successful. In order to be one of those people, you need to know what to look for and how to respond.

You must:

  1. Find a good deal other people have missed.
  2. Raise the capital needed for the transaction.
  3. Put together a svelte team to execute the plan.

There is risk involved in every acquisition. The goal is not to avoid the risk, but to respond to the risk with confidence and a steady hand.

If you need help identifying potential money-makers, where to get the capital you need, and how to put together a smart team, try our GUIDED TOUR to gain access to our resources and tools.

Regardless of what stage you are at with your business, one of the main things you must work on is your mindset. To find true success in your life, implement the strategies in Mindset Questions: The Real Secret to Success. You can also gain daily inspiration through these podcasts.

Word of Mouth Tactics – Part 3

Word of Mouth Tactics – Part 3

Last time we talked about the second part of word of mouth tactics which help you put together a system to help shorten the purchasing decision time of your customers which can increase your profits immensely.

Today we’re going to talk about the nine levels of word of mouth which gives you a tool to measure the word of mouth circulating around your company, products, and services. You can then see where you are getting negative or weak word of mouth and find ways to correct it.

So, launching into the nine levels of word of mouth-it should seem relatively obvious that the negative levels are, well, negative and the positive levels are positive.

Minus 4

This is the worst of the worst and means your product is creating a scandal. Remember, when the popular over-the-counter pain relievers, like Tylenol, were deemed unsafe? Yea, you won’t want that kind of word of mouth.

Minus 3

Disgruntled customers are going out of their way to convince other consumers from purchasing your products and services. They are boycotting you.

Minus 2

While not outwardly boycotting, when customers are asked about you, they will give a negative response.

Minus 1

At this level, people are mildly dissatisfied and while not outwardly talking about it, they will have an opinion if asked. Now they may purchase from you despite their negative feelings, this can be a little confusing.

Level 0

This is sort of a neutral place to be. Customers are using your products, but don’t really talk about it. People rarely ask them about it, so they aren’t sharing their opinion with others. This can be a bit of a slippery slope because you don’t want to turn that neutral experience into a negative one. In fact, you should work to make it a positive one.

Plus 1

At this level we are finally starting to work our way into the positive word of mouth about your company, products, and services. Plus 1 signifies that people are generally pleased with your products, but unless asked, don’t really say anything about them.

Plus 2

When asked, your customers will talk about how much they love your products.

Plus 3

Customers will go out of their way to talk about your products, services, company, and their shopping experience with you. This is most evident when you see how people recommend movies to their friends and family.

Plus 4

Your product is the toast of the town. There is an obvious buzz going around and your business is the place to be. People are not only talking about your great products and services, but they are talking about their shopping experience, your customer service, and how they perceive the company to help them in the future.

Some great examples of Plus 4 companies are:

  • Lexus
  • Harley Davidson
  • Saturn Cars
  • Netscape
  • Apple Computers
  • Celestial Teas

We’re going to leave this lesson for you to mull over and take a look at what kind of word of mouth you are generating. If you need help with this process, try our GUIDED TOUR to get help from our experienced business coaches.

If you are a current entrepreneur and you are worried about your business and how you are going to survive in these uncertain times, or if you will survive, you need to register for my MARKETING ACCELERATED COURSE. In this five-module course, I’ll show you cost-free strategies that will increase your leads, conversions, and profits immediately.

Next time we’re going to talk about the 30 ways to harness the power of word of mouth.

Everything You Have Ever Learned About Generating Leads and Growing Your Business Is Wrong!

  As an entrepreneur and small business owner, are you happy with the results you’re getting from your current marketing efforts? Is your company website generating leads and closing sales for your business? Are you spending your precious marketing dollars… yet seeing little to no results whatsoever? If so, you’re not alone! So why is this happening? I’m here to tell you that everything you have ever heard… everything you have ever learned… and everything you’ve ever been taught about marketing your business… is WRONG! Suppose for a moment that you decide to run a typical marketing campaign for your product or service. You invest more than $10,000 developing your marketing and designing your website in hopes that your prospects will see your message… go to your website… and buy your product or service. You launch your campaign with great hope and anticipation… only to experience over the next several months that your marketing results in just 15 inquiries… and 3 sales that produce $1900 in total revenue. That’s a net loss of $8,100 you will never get back… not to mention all the time, effort and energy you just wasted? But let me ask you this. What if… with our help… you could spend just  $1300 of that $10,000 marketing budget… and just by changing what your marketing says… instead of getting 15 inquiries resulting in only 3 sales… you could generate 137 inquiries that resulted in 37 sales… and each sale was worth an average of $2500? So with our help… instead of losing $8,100… you just pocketed a cool $92,500… all for a measly $1300 investment! That’s a 7,100% return on your marketing dollars. That’s what’s called getting more results… and making more money… for the same time, the same investment… and the same effort spent. Sound farfetched? Not at all. These are the exact results we recently helped one of our clients generate in a business just like yours. Business owners today simply don’t understand the tremendous untapped potential that lies within their marketing. Most businesses today are spending some money on marketing and advertising… and then they decide that whatever results they get from that marketing is probably about as good as it’s going to get. They never imagine that results like the earlier example where our client got 137 inquiries instead of 15… and 37 sales instead of 3… is even remotely possible. I’m here to tell you point blank that nothing could be further from the truth. But don’t take my word for this. Let me prove it to you. Enter your name and email address in the box below… and I’ll send you what may be the single, most eye-opening informational video you will ever see as a business owner.  
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    This video is content-rich… with NO sales pitch whatsoever. I’ll show you the fundamental formulas and strategies we use with our clients that will not only make your marketing work better… but will position your business as the dominant force in your market. Learn this information… and you will gain a significant advantage over your competitors the moment you implement it. The information I’ll teach you is truly a breakthrough in marketing and advertising, yet it’s simple and easy to understand. And best of all… it works… regardless of what business or industry you’re in. Just enter your name and email address in the box to the right, and let me show you our proven and easy-to-follow step-by-step process for marketing your business the RIGHT way. I look forward to seeing you on the other side!      
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High Achiever Coaching

 

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