The Only Purpose Of A Business Is

The Only Purpose Of A Business Is

The only purpose of a business is MARKETING and INNOVATION. Everything else that a business does costs you money… doesn’t make you money. So first you innovate then you market by telling the story which of course, is exposure. More importantly, the RIGHT exposure.

One of my favourite stories of innovation would have to be Tom Monaghan of Domino’s Pizza fame. In fact I’ve often referred to him in previous nudges and one of my favourite Domino’s stories is about a franchisee who opened a Domino’s pizza store at a resort near a lake.

It presented some unusual problems for him – firstly most people only resided there for six months of the year during summer. The second problem he encountered was there was apparently no way he could deliver the pizzas piping hot in 30 minutes or less consistently… which of course was Domino’s original promise to the marketplace.

Hence the need for innovation.

Problem being it was a big lake and houses were scattered kilometres apart. He innovated by deciding to deliver the pizzas by boat because every house backed onto the lake and had a jetty. Obviously this was the shortest, fastest method for getting the pizzas delivered piping hot in 30 minutes or less…

The next problem he encountered was that boats aren’t as stable as cars and that the movement had an effect on where the toppings finished up on the pizza. Further innovation was required. The Domino’s engineers put their heads together and created a device solely for the purpose of delivering a pizza by a boat that could in fact deliver it in good condition and piping hot.

Another problem he encountered was it was generally night time when the pizzas were delivered. Unfortunately, unlike streets and houses that are lit, the lake and jetty’s were shrouded in darkness and houses were hard to find. Needless to say the pizza guys were getting lost.

Here’s another innovation. At Domino’s expense they put lighting on all the jetties and put a number on each jetty so not only could they now find the jetty but the client could order according to the number on his or her jetty.

Now that’s a heck of a lot of innovation to go to, to deliver a pizza. It does have another upside… I believe in one year alone that particular franchisee out-grossed 2,999 other franchisees, working half the year delivering pizza by a boat.

It was just reward for his willingness to innovate and market.

Another way you could be rewarded is by learning how to write compelling copy.

So let’s mush on…

Before sending out any direct mail offer (a printed ad, an email message, etc.), you’ll want to review your effort to make sure that you have applied each of the following 17 points properly. These will significantly enhance your chances of having a successful response rate.

Remember that any marketing you do, and any money you spend on that marketing is wasted unless it grabs your prospects attention and gets them hammering on your door wanting to do business with you.

So before you send out anything, be sure to check the following to maximise your return on investment…

11. Guarantees

Remove the risk for the prospect or buyer and they will buy much more, more often.

If you offer your buyer a 30-day no risk money back guarantee for example, they’ll feel more comfortable buying your product knowing they can get a full refund.

One of my Marketing Boot Camps cost $2,995 to attend with a ‘Double Your Money Back’ Guarantee that no-one hit me for. All my customer’s were satisfied but giving them the choice meant they didn’t worry about paying the door price.

For a car repair company “Your Car Repaired Right the First Time or We’ll Fix it for FREE or Pay a Competitor to Fix it for You!”.

Another one for a pizza store “Bigger, Better Tasting Pizza with Twice the Topping or it’s FREE!”.

For a hair replacement company it was “Regrow you Own Hair or Double your Money Back!”.

Your guarantee needs to be a bit hairy, scary and ugly to you or it won’t impact the market.

Now if you can’t guarantee your product or service, I believe you should sell something else.

In today’s world where the number one barrier to business is betrayal and lack of trust, it’s absolutely imperative you offer a risk-reversal guarantee.

Think about what guarantees you can offer.

All the best,
Mal Emery

Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism

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  1. I do agree with Emery and the importance he places on marketing and innovation but the first question i have for him is how did he come to know about other business activities as money

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