Documente Academic
Documente Profesional
Documente Cultură
Jay L. Abraham
Principles #
1. 2. 3. 4. 5. 6. 7. Upside Leverage Funnel Vision Three Ways to Grow a Business Optimization Strategy Power Parthenon Drivers
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Upside Leverage
1. Untapped and Hidden (Off Balance Sheet) Assets such as your customer list, the trust and goodwill of your customers and the desire of your vendors for your business to do well;
2. Overlooked Opportunities and opportunities which you do not know how to leverage yet; 3. Under Performing Activities, Systems and Processes. In every business, there are ALWAYS activities which can and should be optimized and improved - - - however, most businesses spend their time focusing, optimizing and fixing the wrong things.
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Upside Leverage
4. Under Valued Distribution Channels which you have OR you know someone else who has them. There are easy ways to leverage them - - - if you have a strategy in place;
5. Under Utilized Relationships such as your relationships with your vendors, your employees, your bank, the professionals you engage, the trade associations and journals within your industry - - and even your competitors;
6. Under Appreciated Intellectual Property such as ads, proprietary processes, and the know-how the people within your business have;
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Upside Leverage
Your Two Greatest Sources of Leverage: Marketing and Innovation
Because its purpose is to create a customer, the business has two - - - and only two functions - - Marketing and innovation. Marketing and innovation produce results, all the rest are costs.
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Upside Leverage
The Most amount of Quality breakthroughs on a continuous basis in four specific areas: 1. Strategy; 2. Marketing; 3. Innovation; 4. Management.
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Upside Leverage
Marketing is the process of:
Educating the customer of the value you bring to the marketplace.
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to find new prospects, what are 20 other industries doing to find new prospects other than what we are currently doing?"
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P#4 Optimization
If you work on all three ways to grow a business at the same time, and all you did was improve all three ways by a mere 10%, it brings the power of geometry to bear.
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Optimization, start
Example of 1.000 Clients, $100 Transaction Value, Purchasing 2 Times a Year # of Clients Transaction Transaction Total Value Per Per Year Income Client 1.000 100 2 200.000
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Optimization, 10%
Example of 10% Increase Acrose The Board
# of Clients Transaction Value Per Client 110 Transaction Per Year 2,2 Total Income 266.200 vs. 200.000
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1.100
Optimization, 25%
Example of 25% Increase Acrose The Board
# of Clients Transaction Value Per Client 125 Transaction Per Year 2,5 Total Income 390.625
1.250
vs. 200.000
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Optimization
Focus on geometric business growth Bring the power of optimization to bear Work on the geometry of your business
Otherwise youre going to always work harder for your company than your company will work for you.
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Optimization
Your ultimate goal should be to build an asset - an enduring asset that will be worth so many times more than the mere increases in income in earnings in salary or in dividends we can stimulate for you.
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Optimization
This is a wealth-building play of the highest magnitude---if you understand it. AND if you execute consistently.
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Optimization, # of Clients
Margin 200 / first sale 20 to salesman, 180 to company Customers buy 5x/year during 3 year Margin value 3.000 Give all margin away for the first sale: And itll boost your business!
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Optimization, Size/Client
Have you ever been to a fast food restaurant and been asked by the cashier Do you want fries with that?
Such is the power of add-ons, incentives and bonuses.
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Optimization, #Sales/Client
Preferred clients offers By infitation only sales Frequent buyers premiums
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31 Strategies To Grow
1. How to Increase Your Number of Clients:
How you can Increase Your Lead or Inquiry Generation Through: 1. Referral systems; 2. Acquiring customers at break-even up front and make a profit on the back-end; 3. Guaranteeing purchases through risk reversal; 4. Host/beneficiary relationships; 5. Advertising; 6. Using direct mail; 7. Using telemarketing; 8. Running special events or information nights; 9. Acquiring qualified lists; 10. Develop a Unique Selling Proposition; 11. Increasing the perceived value of your product/service through better customer education; 12. Using public relations; 13. Sequential Integrated Internet, Website & Email.
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31 Strategies To Grow
How you can increase your customer retention rate by: 14. Delivering higher-than-expected levels of service; 15. Communicating frequently with your customers to "nurture them. How you can increase your conversion from inquiry to sale by: 16. Increasing sales skill levels of your staff; 17. Qualifying leads up front; 18. Making irresistible offers. (i.e. Risk Reversal); 19. Educating your customers by giving "reasons why.
Improving your team's selling techniques to up-sell and cross-sell; Using point-of-sale promotions; Packaging complementary products and services together; Increasing your pricing and hence your margins; Changing the profile of your products or services to be more up market; Offering greater/larger units of purchase.
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31 Strategies To Grow
3. How to Increase Transaction Frequency:
26. Developing a back-end of products that you can go back to your customers with; 27. Communicating personally with your customers to maintain a positive relationship; 28. Endorsing other people's products to your list; 29. Running special events such as "closed door sales, limited pre-releases, etc; 30. Pre-framing or programming customers in advance; 31. Price inducements for frequency of purchase.
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Optimization, Sales/Client
Stockbrokers offer occasional IPOs to preferred clients;
Airlines offer frequent flyer miles; Why?
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6. Your Distribution Channels - and thats a very broad concept that describes all the different means you have of impacting the market, from the advertising you do the selling organization you do the associations youve got - it's a very broad and sweeping area.
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8. Systems, Procedures and Processes. Your ability to systemize your marketing, your operations, your management gives you enormous freedom, even though they imply structure and rigidity;
9. Your Ideology . This is the whole mindset that youre basing your operating system around. Ive done entire seminars where we focus almost exclusively on your mindset. Its that powerful.
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Summary
When you combine them together and execute them as a unified master strategy, they will produce geometric business growth in income, results and success as they have for thousands of other entrepreneurs. Do not ask: Am I worthy or do I deserve this goal, Rather ask:
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