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Article Check - How To Double Your Business in 2006, Part II
Acquisition and Expansion StrategiesMachiavelli advocated that a Prince should live in the new territory he has annexed to control the situation on ground and gain respect of the people.“When states are acquired in a country differing in language, customs, or laws, there are difficulties, and good fortune and great energy are needed to hold them, and one of the greatest and most real helps would be that he who has acquired them should go and reside there. This would make his position more secure and durable, as it has made that of the Turk in Greece, who, notwithstanding all the other measures taken by him for holding that state, if he had not settled there, would not have been able to keep it. Because, if one is on the spot, disorders are se
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with the
Anyone who has ever stepped foot into a retail establishment has felt it: dozens of manufacturers competing for the consumer’s attention. In order to stand out in the sea of items desperate for consumption, manufacturers have had to find ways to make their product noticeable and distinguishable from the rest.Every year, businesses spend billions of dollars on ways to increase the likelihood consumers will purchase what they have to offer. But oftentimes their efforts are either lost or overlooked because the materials used to create merchandising displays are not made to withstand the type of exposure and stress typically encountered in a retail establishment. In addition, many point-of-purchase displays are made from materials like cardboard corrug
Now that you have your database underway, it’s time for me to reveal five more strategies that I used to double my business in 2004 and more than double my business in 2005. Let’s get started.
Multiple sources of business
Part one of this article ended with one of the most difficult questions that every business faces: Where will you get the prospects to start building your database?
Depending on your business, it should not be a difficult task to brainstorm 10 different ways in which you could come into contact with potential prospects. No matter what your business is, here are a few sources for prospects to get the gears in your brain going: Friends and relatives, hobbies, church, internet or website promotion, writing articles for the newspaper or local newsletters, aligning with business partners who could refer their clients to you, door to door, purchasing lists, direct mail, leads groups, volunteering, and referrals from past clients.
Some of these methods may not be your cup of tea, but there should at least be a few that seem like something you can get your arms around.
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with them
The dilemma that most HR managers face, is that their staff want cash as bonuses and not gifts or gift vouchers. But why is this a dilemma?Well it has long been established that companies need to give their staff not necessarily what they want, but what they need. This way companies can start to reap the reward of giving rewards by getting their staff churn down, and by their sales /service increasing.How many of us have had a cash bonus and it has gone into the overdraft, been used by the partner on the weekly shop, been given to the kids as pocket money…the list can be and is endless! My favourite one is “gosh – did I have a bonus last month? I did not look at my bank account or payslip!”Companies need to realise that giving
Multiple sources of business
Part one of this article ended with one of the most difficult questions that every business faces: Where will you get the prospects to start building your database?
Depending on your business, it should not be a difficult task to brainstorm 10 different ways in which you could come into contact with potential prospects. No matter what your business is, here are a few sources for prospects to get the gears in your brain going: Friends and relatives, hobbies, church, internet or website promotion, writing articles for the newspaper or local newsletters, aligning with business partners who could refer their clients to you, door to door, purchasing lists, direct mail, leads groups, volunteering, and referrals from past clients.
Some of these methods may not be your cup of tea, but there should at least be a few that seem like something you can get your arms around.
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with the
Timely medical claim reimbursement/payments for the medical provider are a serious problem by most of medical practices nowadays. How can a medical practice survive with slow revenue? too many claims denial and rejection? The solution here is to get the collection done as effectively as it can.Empirically, insurance companies will delay or deny claims payments! They are very slow on medical reviews, predetermination and processing claims. I think, that is one of their business strategies in doing business. They are too is running their own business’ revenues. But if you are a good medical biller, you are aggressive and can effectively collect payments in less than the time your provider expects.Having an effective office manager in your pract
Some of these methods may not be your cup of tea, but there should at least be a few that seem like something you can get your arms around.
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with the
Based on a research, the need for technical workers in America continues to increase despite the fact that many U.S companies today are resorting to the various outsourcing companies worldwide. The Association for Computing Machinery gave out last Thursday the result of its study regarding such matter. It further stated that the services provided by foreign countries such as China and India do not really pose any serious threat towards technical workers living in the U.S.The research calculated that Information technology jobs in other foreign countries will decrease by 2% to 3% yearly through the so-called offshore industry. The study, however, further supported that the IT division in the U.S will continue to grow and will eventually surpass the
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with the
The cost of starting up an enterprise is high; most advisers recommend that you have at least $50,000 capital on hand "just in case" when you begin your own venture. This is meant to be for unknown problems and glitches, not the actual equipment and running costs. You really need that buffer to create a comfort zone to allow your venture to operate until it takes off on its own. But cheer up. If starting an enterprise is costly, you can usually get all the advice you will ever need or want for free.But when this nest egg begins to decrease and your venture just hasn't taken off, how do you remain current on all of the financial obligations? Do you consider obtaining additional financing or is debt relief counseling a better solution?Firs
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with them? That goes into the next strategy:
Consistent follow up
I operate under the philosophy of “never give up on a prospect.” I have systems in place to consistently and continuously follow up with prospects, clients, and business partners literally forever. Most of these systems are on auto-pilot and actually take very little of my personal attention on a day-to-day basis.
If you start operating with this follow-up philosophy in mind, and you are continuously cramming your sales funnel full of quality prospects, eventually they will start coming out the other end at a faster and faster rate. Here is an example of a simple follow up system that you could use for your prospects:
Once per month: informational email (article, ezine) Every two months: email hello (conversational, “How are you doing and can I help you?”) Phone call every 3 months Snail mail newsletter every 3 months (alternate with phone call)
Using this approach, you are hitting the prospect 26 times per year with different forms of media on a consistent basis. It is important that you use email, regular mail, phone, and any other method you can think of to stay in touch as not all people respond to the same types of contact. It is not a miracle that when it comes time to buy, they will think of you first.
And what makes this all possible? Your bullet-proof database system, of course.
Hard work
There is no substitute for this basic strategy. Work hard and you will see results. If you find it difficult to work a long day, try getting to work just a half hour earlier every day, and leaving a half hour later. That will add 5 hours to your week which you can use to generate more business.
Ask for Referrals
Most of your clients, if you are doing an outstanding job, would gladly refer a friend, family member, or co-worker to you, but many times they do not even think of it unless you mention it. Don’t be shy after you have done a good job
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