Why would I work on my vision statement?

“Would you tell me, please, which way I ought to go from here?”
That depends a good deal on where you want to get to.
I don’t much care where –
Then it doesn’t matter which way you go.”

― Lewis Carroll, Alice in Wonderland

 

You’re thinking: “Why should I work on my vision statement? I have so much real work to do”

We come across so many businesses that don’t have a clear vision. Their founders say, “why bother with that? And yes, its true they have other work to do but if a focused and strong vision isn’t in place many aspects of their business won’t work either.

Every major company in the world has a vision and mission statement – what the company will achieve and what it will look like in the future. If you don’t have this to aim for then it doesn’t matter which way you go.

What is a vision statement, and why it is so important?

A vision statement is sometimes called a picture of your company in the future but it’s so much more than that. Your vision statement is your inspiration, the framework for all your strategic planning. It is forward-thinking, it’s not about where the business is now, it’s about where it wants to be.

Your vision statement offers you direction when you feel lost.

For example, whenever you have tough decisions to make on a totally new product line or new way of doing things, you can examine it against your mission and vision and ensure that it matches up. If it doesn’t match then you should discard it.

A vision statement needs to:

  1. Describe aspirations and intent
  2. Be inspirational for both your staff and your customers
  3. Paint a compelling picture
  4. Use engaging and colourful language
  5. Be realistic
  6. Align with your values

Short Vision Statements made up of few words only:

Amazon: To be earth’s most customer centric company

Google: To organise the world’s information & make it universally accessible & useful

If your business does not have a vision statement, it should come up with one. If you already have one than this is a good opportunity to review it to ensure it is current.

We work through a step-by-step process that will help you define what your vision is. A tight and powerful vision will empower your executives and staff, and give them direction when they are not sure. It will set up the foundations for a successful business in the years to come.

Put us to the test!

If you’re committed to your vision of building a hugely successful business and you’ve realised you don’t know all there is to know in business and would like to get professional assistance than click below and we’ll be very happy to teach you the methods that have helped thousands of small business owners achieve their dreams, and make more money than they ever wished for.

https://increaseprofits.net.au/myguidedtour

Want to double or triple your profits?

How often do you take advantage of your client relationships?

Most entrepreneur’s bank the first sale to a new customer and don’t even think about going back for more business from that same person.

How often have you gone back to a particular customer and given them an opportunity to purchase again from you? The response for most entrepreneurs is never!

Did you know that only 3% of all customers are ready to purchase at this moment?

The majority – 97% are not. They need to be nurtured continuously until the moment they are ready to purchase. For the businesses that do this well, their sales go through the roof.

Most business executives agree that in order to retain customers, it is critical to build customer relationships. But whose job is that? In a word: everyone’s. In fact, research shows that most customers don’t end up making a commitment to purchasing until you market to them somewhere around six times. Existing and past customers are often times neglected by businesses. They take them for granted and figure that they will come in when they need to make a purchase.

Organisations like this are passing up a tremendous amount of potential sales due to their relaxed attitude to their existing and past customers.

To build customer relationships that lead to achieving increasing revenue goals, companies must :

  1. Demonstrate a customer-centric attitude.
  2. Assess continuing needs by making contact with the customer.
  3. Cultivate great customer listening skills.
  4. Deliver effective presentations.
  5. Answer queries, and take care of negative feedback in a positive manner.
  6. Ask for the order, don’t just assume it is forthcoming.
  7. Assure new customers they are in good hands and making the best purchase decision.

So how often are you contacting your prospects?

Powerful customer relationships are essential to business success. But, they aren’t built overnight. Just like personal relationships, it’s important to cultivate and nurture customer relationships. When organisations develop warm relationships with their customers, it can lead to loyal clients, positive word of mouth and increased sales. On the other hand, while meaningful relationships require time and effort to build, they can fall apart quickly. Relationships taken for granted deteriorate quickly if allowed to. The key thing to remember is that strong relationships are built around making the other person feel important. When you accomplish this on an ongoing basis, success will follow.

Put us to the test!

If you’re committed to your vision of building a hugely successful business and you’ve realised you don’t know all there is to know in business and would like to get professional assistance than click below and we’ll be very happy to teach you the methods that have helped thousands of small business owners achieve their dreams, and make more money than they ever wished for.

https://increaseprofits.net.au/myguidedtour

What’s the secret when it comes to price?

The customer chooses if the price you charge is worthwhile by deciding the advantages they’ll get. Pay attention to this rule and you can leverage it to become a leader in your market.

You can even charge a lot more than your competitors and still be perceived as offering value for money.

That’s because customers don’t buy based on price alone.

Customers buy based on value. The more of it you add, the more they perceive this as great value. The secret is to implement a series of tried and tested methods that position your business as providing the most attractive deal… despite the fact that you charge more than what your competition does.

But that’s not all.

Did you know there are various pricing strategies that can increase your bottom line?

Value needs to be the first driver in setting a pricing strategy. This will not only deliver higher profits, but also improve customer satisfaction scores.

For example, we found a strategy that permitted one of our customers to double their prices immediately.

Despite this massive increase in cost, when we tried this method it only reduced their order rate by 17%. This is a massive increase in gross profit using a method that cost the business owner nothing!

How would you like a 75% overnight increase in your gross?

What if we could give you a tool kit of various pricing techniques which would remove pricing as a barrier to you achieving success in your business?

Put us to the test!

If you’re committed to your vision of building a hugely successful business and you’ve realised you don’t know all there is to know in business and would like to get professional assistance than click below and we’ll be very happy to teach you the methods that have helped thousands of small business owners achieve their dreams, and make more money than they ever wished for.

https://increaseprofits.net.au/myguidedtour

This SWOT analysis might save your business

Have you been keeping up to date with the latest financial news? Its daunting for a small business owner isn’t it? The banks have been found to be cheating their customers and aren’t lending money because of the squeeze, our government is a mess, and the housing market is super expensive. Could things get any worse? Yes, they can get worse… and they will.

How did we get ourselves to this point, and what, if anything, can you do as an entrepreneur to make sure this doesn’t have a pronounced effect on your business? Is there anything you can do to insulate your business from any fallout, and to position yourself so you thrive instead of struggling?

What you need to know

There is one basic principle taught in all business schools that could have prevented the current economic mess… and you can use this same principle in your small business to figure out where you are now, where you want to be in the future, and how to get there. It’s an analysis of your businesses strengths, weaknesses, opportunities and threats, or more commonly known as a SWOT Analysis.

Why you need a SWOT Analysis

A SWOT Analysis allows a small business owner to reveal their businesses strengths and weaknesses. You can then use this knowledge to leverage your internal strengths into the areas that will benefit your business in the future whilst minimising your internal weaknesses. This will very quickly take you to the next level.

A SWOT Analysis will also uncover the external opportunities available to your business that you should be focusing on and taking advantage of before your competitors do. Have you heard the term, “running to where the ball will BE instead of where the ball is NOW?”.

The analysis will then show you the external threats to your business which you can plan for and minimise. Many times you can turn a threat into an opportunity, for example allowing oil companies to invest their prodigious profits into solar or wind energy before the oil reserves run out.

The cost of not acting now

Have you performed a SWOT Analysis for your small business?

Do you have the tools to perform one?

Do you understand your business? Do you know your internal strengths? Your 10 best customers for example? Where the risks are going to come from in the future?

If you don’t, what will be the effect on your business?

Learn these critical skills and you will insulate your small business, and profit from the external factors which you cannot control, whilst at the same time taking advantage of your strengths, and opportunities.

For a Test Drive on our system please visit https://increaseprofits.net.au/guidedtour

Increasing the repeat-buy from your current customers

If your small business has been around for some time than you already have loyal customers. You’ve spent the money to acquire them in the first place.

There’s never a better time to convert them to more repeat purchases than now.

We’re not proposing you do this by unloading unnecessary products or services on them but by figuring what other wants and needs they have and fulfilling these.

Convincing your clients to purchase more often frequently, is one of the most cost effective ways to grow your business.

Have you noticed how many emails you get from businesses you have purchased from sometime in the past? Many of these are very successful household names. For example – Amazon, or The Iconic. They are risking the chance that you will be upset by them filling your inbox. However this risk is very small. Especially when compared to the very powerful data they have which shows them how successful this kind of incremental business can be. They know precisely at what interval to send out these emails to get the maximum results.

The best part about it is – you have already been a customer, so they have your email address and name and details. You are familiar with their products and so when they keep reminding you then at some point you will have a need for more products, or emotionally you will be triggered by their advertisement.

This methodology applies to every small business,
and the effect on your bottom line can be incredible!

Think about the oil change business. The prescribed length of an oil change interval is normally 5,000 kms. Some motorists replace their oil at this exact mileage. However 90% of motorists wait until after this interval is reached.

It can then take up to a month before the average motorist finally makes it in for an oil change. By then their mileage is up to an average of 5,750 km’s. This equates to 15% in lost revenue!

How would you like to realise an additional 15% on your businesses turnover, for very little cost?

What if we told you we could impart to you a strategy to get these motorists to come in precisely on the prescribed oil change interval, and some of them even earlier than this?

Try us out!

If you’re committed to your vision of building a hugely successful business and you’ve realised you don’t know all there is to know in business and would like to get professional assistance then click below and we’ll be very happy to teach you the methods that have helped thousands of small business owners achieve their dreams, and make more money than they ever wished for.

Watch Our Guided Tour https://increaseprofits.net.au/myguidedtour

Would you like to learn how to get more higher yield customers?

If this sounds like you, then you need to raise your conversion rate.

Small business owners are always trying to improve the conversion rate of their sales leads. Unfortunately, there’s no magic formula… just a basic method, a system which you must learn which can triple your present conversion rates.

Let’s look at the facts. We’ve seen tweaks in advertising copy, subtle placement changes of artwork, small changes in headlines pay off in massive ways.

Occasionally even very small changes — the fonts, colours, or the words you employ on your purchase button — can instantly show results.

Generating a ton of leads is useless unless you’ll be able to convert the overwhelming majority of these leads into actual sales.

Would you like to learn the methods of converting more of your potential leads into paying ones?

For a peak at our successful methods go to https://increaseprofits.net.au/

Creating a niche market for your business

We live in a world where all kinds of products, and experiences clamour for peoples attention. Customers demand that special experience or product, and if they don’t receive it from you there is always a competitor that will supply their needs. Rather than trying to be all things to all people, you need to be seen as an authority in your industry, or your customers will go to the competition.

Most small business owners can’t seem to say no to new product lines or offers, even when it’s deviating from their core business. As sales are slow for a new business the owner is prone to clutching at anything to increase revenue. This can be the beginning of the end for many businesses as your customers will lose interest perceiving that you don’t care about their particular interests.

If you are seen to be all things to everyone, you will become nothing to everyone.

The secret is to find your special niche that you do very well, and that your customers can get emotionally attached to.

Remember that 20% of your present customers are giving you 80% of your revenue. Those are your best customers. They are emotionally attached to your product or service, and they keep coming back for more. Focus on the things which attracted these ideal customers to your business, and you will attract more of this type of customer.

Once you have re-positioned your business as described watch your revenues pick up quickly. You will enjoy your work more once you see gratifying results like this. Work may even become a pleasure.

In the event that you neglect to develop a niche for your business, the cost to your business in the long term can be huge :

  • You will lose revenue and profit.
  • You work longer hours for diminishing results.
  • The goodwill or value in your company will be reduced.
  • The only way you can compete with your competitors will be on price.
  • You won’t have a unique business which stands out from its competitors.

To learn the special skills which successful small business owners have used to position their business in a particular niche which works for them take a Test Drive on our system by visiting https://increaseprofits.net.au/guidedtour

Do you know how your clients make their purchase decision?

Have you at any point given any thought as to exactly how your customers make their purchase decisions? What motivates them to make that purchase? Is it merely price that drives them, or are their multiple factors involved?

What you need to know

Believe it or not, cost is actually low down the list of considerations. People will always want the best deal, and in calculating the best deal price is only one of the factors to determine value. The recognition that your product offers best value controls their ultimate decision.

Why you need to know this

The key is to create uncommon value related to your industry. Once you create this you can charge a higher price, as long as your customers perceive your product or service as delivering good value for money. Unfortunately, most small business owners don’t understand how to create additional value which they can extend to their customers, and so much incremental revenue walks right by their door and on to their competitor.

A business needs to understand what it is that customers are looking for from their product or service and then use creativity to remove the roadblocks to customers. Many times a customer is frustrated with your business offer and you must put yourselves in their shoes to come up with a solution. The other common innovation is adding additional value to your product or service, going the extra mile so the customer feels like they are getting additional value.

A great example is, the vehicle owner who moves to a new town and requires a mechanic to service his car and is pleasantly surprised to find a business which offers free coffee and wifi so he can do some work whilst he’s waiting for his car. In addition he gets peace of mind from knowing there is a 60 day money back guarantee if he is unhappy with the service.

The cost to you if you fail to act…

If you fail to create and offer “additional value”, in the minds of your customers then they have no way of picking you out from your competitors. You will have no way to differentiate your business and will be destined to compete only on price. The problem with this is there is always going to be someone more desperate than you, someone willing to go below your price, and in this way your target gross margins are going to be destroyed. Your business success may soon follow the downward trend.

By differentiating your business offer you still stand out from your competitors. Your customers won’t even consider them so in effect it becomes a one horse race.

Once you innovate your offer you will begin to attract the customers who are willing to pay more but understand good value. These discerning, higher paying customers will continue to purchase from you over the long term. Your gross margin and net profits will increase as a result.

Search for ways to innovate, to differentiate your business so that you create additional value in the minds of your customers.

For a Test Drive on our system please visit https://increaseprofits.net.au/guidedtour

Do you know how to differentiate your business?

You’ve moved to a new city and your car is due for a service. You look at the options and they all seem to be around the same price for the same product. One of them however seems to be a little more expensive but they don’t seem to hide it.

In fact, they try to differentiate themselves by not only offering a 100% money back guarantee (even after 60 days), but they offer free wifi and coffee in the waiting room, a car wash thrown in with the cost of the service, and a slick website with lots of positive customer testimonials.

Which one would you choose?

What you need to know

When you differentiate your business, you naturally stand out from the others in a crowded market place. Your business is seen as offering “exceptional value” to its customers. Much as unique people stand out and succeed in life, for any business to really succeed, it must stand out from it’s competitors and be seen to offer it’s clients exceptional value.

The trick is to know what parts of your service or products can be innovated or differentiated. To know what your customers value, and then give this to them – so that they see your business as being unique and offering great value.

Why you need to know this

Improving your business is the surest way to dominate your market and separate yourself from your competitors. In the minds of your customers there is in fact no competition, as you have successfully imprinted yourself into their minds as the only business to go to.

Enterprises that don’t innovate and differentiate themselves will not stand out. Customers won’t be able to pick them from their competitors, and you will forever be competing on price, and worse – your gross margins will be lower than the exceptional company which is able to innovate and differentiate itself from the rest.

The expense to you in the event that you neglect to act…

Do you value the prospect of forever having to compete on price in a crowded marketplace?

Do you know precisely what your customers value in your business? And therefore which areas you should be innovating in?

Furthermore, do you know if your proposed innovations will produce a positive return on your investment over time?

If you don’t innovate, and the only way to stand out from your competitors is by offering a lower price, do you have confidence in the future of your business?

Most small business owners don’t use their natural creativity to innovate. Nor do they understand their customers or their business well enough to know what they should innovate.

So how can you learn these valuable skills?

We’ll help you develop these skills rapidly and effectively using our Online Course™. We would be honored to share our expertise with you to drive real change in your business.

To take a Test Drive on our system visit https://increaseprofits.net.au/guidedtour

How much is each customer worth to your business?

The total value of every customer is calculated by taking the total gross profit over the lifetime of that customer, less the acquisition and marketing costs over that same period. Once you have calculated this number you then know how much you can spend to acquire that customer.

Why you need to know this

It’s important to understand that a customer who has had a good experience with your company is naturally going to trust your company with other business in the future. You now have a relationship of trust and understanding. You should leverage this trust and as soon as possible make a play for selling them more of your products and services.

The cost of failing to act

After the point at which the relationship with your customer is cemented they will continue to purchase that same product or service from you, but you cannot assume that they will naturally give you more business for other products and services. You have to do the work, get out there and extract more business from them.

So, would you say you are doing that? And do you understand how to do that?

Also be aware that you can set up systems to do this for you which will save you time and money over the long run, and ensure every customer is giving you maximum possible revenue. These systems just require a little work in the beginning to set up.

So how do you learn this skill?

We’ll assist you to develop this critical skillset rapidly and effectively through our Online Course™ Coaching Program. This proven system has worked for thousands of other businesses just like yours.

For a Test Drive please visit https://increaseprofits.net.au/guidedtour