15 July 2010

Business Link Rural Dorset

Business Clubs

All Clubs Event

Power up your profits !

Charlie Haddon, Business Coach

May I be your Coach for the next 90 Minutes ?

To get us started….

Your presenter: Charlie Haddon

Blame

Excuses

Denial

Ownership

Accountable

Responsible

Are you Above or Below the Line ?

VICTOR

V I C T IM

To get the most out of your time, you must be open to learning new things…

I KNOW!

Interesting ..”

To get the most out of your time, you must be open to learning new things…

Action’s Definition of a Successful Business …

A Commercial, Profitable, Enterprise

- that works -

without

YOU!

Six Steps to Massive Results

MASSIVE RESULTS

Results

Synergy

Team

Leverage

Niche

Mastery From Chaos to Control

Predictable Cash Flow

Systematise for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

The ActionCOACH definition of a Niche ...

NO PRICE

COMPETITION

Creating Your Niche

Unique Selling Proposition

&

Guarantee

Number of Leadsx

Conversion Rate=

No. of Customersx

No. of Transactionsx

Ave. £££ Sale=

Revenuesx

Margin =

Profits

The 5 proven ways to increase

your business profits...

Let’s put in some numbers ...Number of Leads

xConversion Rate

=No. of Customers

x# of Transactions

xAve. £££ Sale

=Revenues

xMargin

=Profits

4,000x

25%=

1,000x2x

£100=

£200,000x

25% =

£50,000

Lead Generation

• Most Expensive of the 5 Ways …

• Most Risky of the 5 Ways …

• Needs Most T&M …

• Very Important Who & Where …

• Target and Offer …

• Biggest Payoff ultimately …

• Still have to be Converted …

• High #’s V’s High Quality …

• Cost of Dealing with Non-Converted Prospects …

• Only EXTERNAL of 5 Ways …

78 Strategies in the Toolbox

#5 - (Local) Magazine Advertising

#11 - Press Releases

#21 - Direct Mail

#44 - Named promotional gifts

#49 - Networking Functions

#54 - Host Beneficiary

#55 - Strategic Alliances

#61 - Trade Shows

#74 - Social Media

Lead Generation

• Biggest Limiting Factor to Company Growth …

• Always Overstated ...

• One of the Easiest 5 Ways …

• One of the Cheapest 5 Ways …

• Must break down T&M …

• Must Sell not Take Orders …

• Make or Break a Company …

• 7 No’s before One Yes …

• MUST ‘Ask for the Sale’ …

• Follow Up is Key …

Conversion Rate

80 Strategies in the Toolbox

#8 - Use a Testimonial List

#9 - Before & After Photos / Demos

#29 - Flowchart Your Sales Process

#30 - Audio, Video, CD Sales Demo

#34 - Use Prospect Questionnaire

#38 - Sales Scripts – Learn to Sale

#56 - Competitions, with Follow Up

#71 - Collect All Prospects’ Details

#72 - Stay In Touch, Cards, Newsletter

Conversion Rate

3 Most Important Parts of any Marketing Campaign

Target

Offer

Copy

What is successful advertising?

• Most Overlooked

• Assume Good Service will Bring them Back

• Medium Expense of 5 Ways

• Medium Risk of the 5 Ways

• Past Customer is your best Next customer

• Communicate Every 90 Days

•Costs 6 times more to get a new customer than to bring a past one back

• When was the last time you were invited back

• People love to come back

• Just have to Ask …

# of Transactions

68 Strategies in the Toolbox

# 1 - Better Service, Make Your Customers Feel Special, Give Them Magic Moments

# 5 - Keep in Regular Contact

# 6 - Inform Customers of Entire Range

#21 - Use a Multiple Purchase Card

#24 - ‘Until Further Notice’ deals

#26 - Plan Future Purchases

#27 - Offer on Future Purchases

#36 - Special Occasion Gifts/Cards

#51 - Catalogues so Customers can Re-order

# of Transactions

Your Ideal Customer ...

• Easiest to Increase of 5 Ways

• Power is Under-estimated

• One of the cheapest 5 Ways

• Some have massive Variance

• Just Measuring alone will give you a 10% increase

• Measure per Person/Territory/ Product Range/Store etc

• Easy to sell more to someone who is already buying

• Always Over-SELL

• Will Massively impact Profit

• Consistency is the Key

Average £ Sale

53 Strategies in the Toolbox

# 1 – Increase Your Prices

# 5 - Use a Checklist

# 6 - Use Questionnaire

#16 - Create Package Deals

#30 - Sack ‘C’ and ‘D’ Grade Customers

#39 - Stop Discounting

#41 - Give Away Perceived Value

#47 - Buy One Get One Free

#50 - Suggest Most Expensive First

Average £ Sale

OLD Selling V’s NEW Selling …

• Most Important of 5 Ways …

• Can Market Yourself Out of Business ...

• High Profit not High Revenue …

• Owners more scared by price rise than clients …

• Cheapest & Easiest of 5 Ways …

• Marketing will Improve …

• No Niche = No Margins …

• Live by Price, Die by Price …

Profit Margins

67 Strategies in the Toolbox

Profit Margins

# 1 - Increase Your Prices

# 3 - NO Discounting

#19 - Team Incentives based on Margins

#21 - Know Your Actual Costs

#23 - Set Monthly Expenditure Budgets

#27 - Do it Right the First Time

#46 - Reduce 30 Day terms to 7 Days

#55 - Outsource

#67 - Get Phone, Utility Bills Checked

Time Target

• Set personally motivating goals

• Don't finish today until you plan tomorrow

• Eat a frog for breakfast EVERY day

• Don't Major in Minor things

• Create a default diary and stick to it

• Invest time, don't spend it

• Have agendas for all meetings

• Have conference calls to save time

• Learn to delegate to your team

• Hire an Action Coach to keep you on track !

Action's Top Time Management Tips

With just a 10% increase ...

Number of Leadsx

Conversion Rate=

No. of Customersx

No. of Transactionsx

Ave. £££ Sale=

Revenuesx

Margin =

Profits

4,000x

25%=

1,000x

2x

£100=

£200,000x

25% =

£50,000

4,400x

27.5%=

1,210x

2.2x

£110=

£292,820x

27.5% =

£80,525

That’s a 46% increase inyour revenues ...

Quoting Warren Buffett...

“It is not necessary to do extraordinary

things to get extraordinary

results.”

World famous investorWorld’s 2nd wealthiest man£48 Billion net worth

Six Steps to Massive Results

MASSIVE RESULTS

Results

Synergy

Team

Leverage

Niche

Mastery From Chaos to Control

Predictable Cash Flow

Systematise for Efficiency

Structure for Growth

Well Oiled Machine

Multiplication or Acquisition

Stability

Cash

Time

Happiness

Diversification

Freedom

6 Keys to A Winning Team

1. Strong Leadership

2. Common Goal

3. Rules of the Game

4. Action Plan

5. Support Risk Taking

6. 100% Involvement and Inclusion

Quoting Jim Rohn ...

“Never wish your life were easier .. Wish that YOU were better.”

“Work harder on yourself than you do on your job …”

“Success is what you attract by the person you become.”

Thank You !