It’s very rare for someone to attend one of my seminars not to have his or her eyes opened to the fact that there are more hidden profits unbanked in most businesses than ever actually gets banked.
In fact, this ‘found money’ alone is often sufficient to increase my clients overall total profits and take home income by as much as 50 – 100%.
However, most business owners never actually do what it takes to uncover these hidden profits and there’s many arguably good reasons for this.
Here’s some rules for uncovering hidden profits that might make this process a whole lot easier…
1. A buyer is a buyer. They’ll buy more often if you give them a chance.
2. It’s much much easier to make a second sale than a first. In fact if you can get a client to purchase 3 times in a very short period of time (like a month) statistically they’ll finish up being high spending clients. So figure out ways to sell them stuff…even if it’s break even in the first 30 days, after all whatever you spend on them will be a fraction of what you’ll ultimately make from them.
3. What is the most expensive and time consuming thing a business does? Getting a client, the first time someone buys from you is 5 x more expensive than a repeat customer. The headaches are in the front end of a business, the money is in the backend…WHY? Because it’s radically cheaper to do business with them more and more often
4. Most business owners don’t have a progressive, complimentary range of products and services
You have to have 2 separate but distinctly linked marketing systems or methodologies for…
Getting them in – low risk time and money
Keeping them in – build trust and ascend
5. If your business is ALL FRONT END it needs to be hot and heavy and then get out. You don’t have a business at all you have a promotion
6. You need to create a PROGRESSIVE, COMPLEMENTARY range of products and services AROUND what people WANT…NOT what you’ve got, so you can help them get what they WANT
MARKET 1st ———————————— PRODUCT 2nd
7. The most neglected target market is your past and present customer base. Legendary marketer Jay Abraham says “The biggest mistake business owners make is not utilizing (hidden profit) the power of their own database” and I’d have to agree.
8. Customers and clients actually welcome multiple contacts and not resent it. Remember, just because it craps you off doesn’t mean it will crap other people off, after all you are not your customer…hence, your opinion doesn’t count.
9. The “hidden competitive advantage” one business can have over the other is the quality of the relationship you have with your clients or prospects and what you are known for by them.
There you go, and now you too can uncover hidden profits in your business and strangely you won’t have to expend much money and effort in the process. And the good news is, the bank teller won’t ask how hard you worked for it, they’ll just deposit it in your bank account.
Committed to Multiplying Your Profits and Guilty of Conspiracy to Commit Capitalism,