Martin,

I can’t say it enough, I took your course a year ago or more now and up until now, I’ve done nothing as I got caught up in the “other” career that paid the bills. Now I’m jumping headlong into this as my “new” career and every time I read your articles, the more sense it makes! I am going to focus on 3-specific niches and stick with them and get very, very good at them.

Your information is by and large well above that of other products out there, believe you me!

Thanks again,

Steve
===================

One of the readers of my blog article and the comment Steve made – a man named Vince – wrote the following:

“Something’s wrong here. Steven invested well over $10,000 in this business – yet he never took action? I would call this a failure. Regarding this article – I gave it a 3 – that is 60.%. Marginal. Good stuff, but nothing new here. Some value yes. Would a business client pay me $1,000 or $500 a month for that. I don’t think so. . .”
===================

I read what Vince wrote with great interest, because I’m always concerned when I see or hear statements that are made with no background, history, or factual understanding for the basis of their comments.

Let me explain. Since we don’t publish what people paid for their training, travel, or other business expenses, I’m not sure how Vince determined that Steve invested “well over $10,000 in this business.”

Second, Vince says that because Steve “never took action,” he “would call this a failure.” I’m not sure I would be so quick to make that judgment. Steve very clearly said he “got caught up in the ‘other’ career that paid the bills.” This happens with some people for a variety of reasons.

For some, the timing to make the jump to a new career isn’t right when they come to our training. For instance, a couple of years ago, two national sales managers for two different pharmaceutical companies happened to attend the same training session. They didn’t know each other, but their situations and stories were identical. Both said that they could see the handwriting on the wall that their jobs would eventually be phased out and they wanted to get some training in while they could, and they wanted to take advantage of a special offer we were presenting at the time.

Two years went by and neither of these people did anything with their TopLine training. Would that be considered a “failure”? I hardly think so. Both of these guys were working for very large companies, making mid 6-figure incomes, had great benefits, good retirement plans, and they didn’t want to jeopardize those.

Eventually, one of the two contacted me and said that his job had ended and he was ready to begin his consulting business. We talked about how he could leverage his previous experience and get up and running very quickly. In a very short time, he landed a client that paid him $5,000 a month plus 15% of the gross revenue he generated for them. The way he positioned himself saved the company around $100,000 a year from what they were currently spending, eliminated the need for a support staff, office space, office furniture, telephone, computer, car expenses and expense account. They were thrilled to pay him what he asked.

What’s the big deal about that? Well, I’d say that $60,000 plus 15%of a revenue from just ONE client isn’t too bad. Especially when it’s the first client. If this consultant can’t pull $100,000 out of this client in his first year, something is terribly wrong.

My point in relating this is that for Vince to make such a blanket statement about Steve’s not taking action being a “failure” – especially with no more information than he “got caught up in the ‘other’ career that paid the bills,” is pretty short-sighted. Everyone comes to the business with a different mindset, different personal situations, and their own unique circumstances. For some, it’s like the two pharmaceutical reps. For others, it may be that they wanted in on a special pricing offer we had at the time. We’ve had business owners who were in the process of selling their businesses and couldn’t do anything until their business sold. But I don’t think it’s fair to say that Steve is a “failure” because he didn’t (or perhaps, wasn’t able to for whatever reason) jump in with both feet at the conclusion of his training.

Vince went on to say about the article, I gave it a 3 – that is 60.%. Marginal. Good stuff, but nothing new here. Some value yes. Would a business client pay me $1,000 or $500 a month for that. I don’t think so. . .”

No argument with Vince’s opinion. If he thought the article was only worth a “3” and that it was “marginal” and there was “nothing new”, great. Not everything you read will resonate 100%. And certainly, not every thing or every idea that you write, say, or propose will resonate with everyone you meet.

To expect or even suggest that a “business client pay [you] $1,000 or $500 a month for that,” is totally unrealistic. I’ll agree with Vince on that. But no one even suggested that. You don’t charge a client $1,000 or $500 for one article. The way you work with a client is to determine what their problems, challenges, and areas of opportunity are, then develop a plan, a strategy, or a solution that will realistically and cost-effectively solve, satisfy, minimize, or eliminate those problems. It’s not a one-idea thing. And it’s certainly not a one-article thing.

That’s why we have developed a complete, turn-key, connect-the-dots SYSTEM that if followed, will identify the problems a business has, and give you the tools, resources, and abilities to correct them. And when you can provide those kinds of solutions for a business owner who is (and has been) struggling to keep his or her business afloat, and has spent countless dollars and hours with little if any results to show, you can easily capture all the business you can handle and charge prices that will afford you the lifestyle you want for your family.

I don’t mean to pick on Vince. Not at all. In fact, I really appreciate what he said because if he was thinking those things, perhaps there may be someone else with the same thought, but who didn’t verbalize them. So my thanks go to you, Vince, to allow me to clarify a couple of points and give a little more insight as to how our consultants work and the potential they have for making some very serious money in this business.

Sounds like a tough question, doesn’t it? Especially right now.

After all, thousands and thousands of hard working people are losing their jobs with little or no warning.

Doesn’t really matter who you are, what you do, what you make, or how long you’ve been there.

As an employee in this economy, tomorrow could be the day a pink slip shows up on your desk.

But then again….

Businesses are closing up shop left and right. A lot of business owners are finding their revenues shrinking… and their profits disappearing.

A lot of business owners lie awake at night wondering how they’re going to meet payroll or pay their suppliers. How they’re going to keep the ship afloat long enough till things turn around.

So let me ask you again:

Who’s in a better position here? The employee or the business owner?

The Difference Between Thinking Like an
Employee and Thinking Like a Business Owner

If you asked me this question, I’d take the role of the business owner EACH and EVERY time.

No questions asked.

And here’s the reason.

EMPLOYEES work within a world that is defined by someone ELSE. That’s the nature of an employee. You are needed as long as you are helping the business owner build THEIR dream.

THEIR dream is the focus… Yours has to fit within that.

The business owner mindset is completely different. (This is why so many employees struggle to start a business if they don’t have the right training. They don’t shift their mindset.)

Business owners create their own world.

They build their OWN dreams.

And they keep the rewards… unless they choose to share them.

If you think these generalizations are unfair, I understand. However, in my 43 years of business experience, I’ve witnessed this again and again.

Business owners have one thing that employees will never have:

CONTROL OVER WHAT TO DO NEXT

Sure they’re are exceptions. There always are.

But pointing them out doesn’t help you or me. Pointing out the exceptions just creates another excuse for NOT taking action to change your life.

My goal is not to be harsh here. But desperate times call for desperate measures. And THESE are certainly desperate times…

Because businesses are crashing down left and right. Businesses that YOU could be saving. Business owners who need to be shown how to double and triple their profits with little or no out of pocket expense.

Businesses that need to be shown how to get MORE customers in the door, to buy MORE things, MORE often.

What’s it worth to a business owner to have some help in steering their 5 million dollar business away from rough waters?

It’s worth a LOT to them. And they will pay dearly for that help.

And that’s why it’s so simple to make a significant income as a business consultant.

As a consultant, YOUR income is DIRECTLY tied to the amount of value you provide to the marketplace.

There IS no ceiling here…

You are in control of your future… for better or worse.

There’s just one problem:

The Buck Stops with You

In the business world, there IS no try. You either do it or you don’t.

You either make a million dollars or you don’t. You either get the contract or you don’t.

If it works out, you get 100% of the credit.

If it doesn’t, you hold 100% of the responsibility.

When you strip away all of the “start your own business” hype you see all over the place, that’s what you have left.

You have a person who stands up and says, “I’m going to MAKE this work, no matter what.”

“I’m going to take control of my life.”

Believe me, there’s a HUGE amount of freedom that comes when you’re willing to stand up and take full responsibility for your success.

Trust me…

Once you do, you’ll never look back.

$16,000 in Just 4 Days

Here’s a link to an interview I just completed with TopLine Consultant, Ian Marsh.

In the 48 minute interview, you’ll hear Ian talk about how he made $16,000 from one client… for about 4 days of work.

Get out your pen and be ready to take some notes. You don’t want to miss this one:

http://toplinebusinesssolutions.com/marsh

It’s something that can either limit your income, and keep you from ever hitting the six-figure mark, or something that can virtually remove all limits on your income… period.

It’s really THAT important.

But before I tell you what this “something” is, let me ask you a question:

“Just how many clients do you NEED to make six-figures as a consultant?”

Think about that for a moment.

Before you give me your answer, I have to confess…

This is a trick question. It’s not a bad question, it’s just the WRONG question to be asking if you’re trying to increase your income as a business consultant.

Here’s the reason:

Success in consulting is NOT about the NUMBER of clients you have, it’s about the amount of value each of your clients receives.

The more value you provide, the more you can charge.

There’s just one catch:

You Need to Be Working with Clients
Who Have the Cashflow to Pay You

This might sound like common sense. And it is. But in my experience, it’s hardly common.

One of the MOST common reasons that new consultants struggle is because they spend their valuable time working with clients who should never really be clients in the first place.

Here’s the recipe for a GOOD client:

1. A good client has a business problem (ideally a few of them) you can help solve.

2. A good client knows, likes and trusts you. In other words, it’s someone who perceives you as an expert, not a hired hand.

3. A good client has sufficient cashflow to pay you the fees you charge.

If you have those three ingredients, you’re going to have no trouble hitting six-figures.

Choosing the RIGHT clients is the “something” that can make or break your success.

So why do so many consultants get stuck working with clients who don’t qualify as “good” clients?

Confidence

It is a simple matter of CONFIDENCE. Confidence that you can provide value to your client.

The good news is this:

CONFIDENCE can be learned.

The funny part is, you usually build confidence by making mistakes and learning from those mistakes.

That’s really what makes the TopLine System (a system that’s been proven to work time and time again) so valuable.

You have a system that pretty much takes the guess work out of delivering VALUE to your clients. And it puts you light years ahead of most of the other consultants out there who are just “winging it” on their client’s dime.

But the system can’t ask for the money for you. That’s something that you have to do.

It gets easier the more you do it.

Just remember…

To charge monthly retainers of $4000, $8000 or even $10000 (which is simple to do when you are working with the RIGHT clients), you need to be working with clients for whom that amount of money is NO BIG DEAL.

Never forget that.

Six-Figure Questions
and Answers

Every week, I get many questions about what it really takes to succeed in the consulting business. And in each issue of this newsletter, I’ll tackle a new question.

Here’s the question for today:

“If the economy is so bad… if businesses are struggling so much, how could they possibly have the resources to pay ME high fees for consulting?”

The answer to this question goes right back to the focus of this issue:

It’s not how many clients you have, it’s WHICH clients you have that matters.

If you’re dealing with a business with revenues somewhere between $2-10 Million dollars, “struggling” can mean their profits are down 80%.

In that example, they’re not even losing money. So while they are technically “struggling,” they’re not about to close their doors.

Would a business like this invest $20-$50,000 for help in recovering those lost profits… profits which could easily be over a million dollars?

Of course they would. Wouldn’t you?

While this e-letter is being read by thousands of consultants around the world, as well as thousands of entrepreneurs considering entering the consulting business, the primary goal is the same:

To help you create a life with more time, less work and more money… as quickly as possible. And THAT’S what Six-Figure Consulting will help you do.

So with that said, let’s get started…

How to Time Your Success Right

In my experience, there is NO better time to be a business consultant than in an economy exactly like this one. You might think I’m joking. But I’m not. I really mean it. I really do. How can I be so serious? Because the consultants who understand and are using the TopLine system the way it was intended are making record incomes even in these tough economic times.

In an economy like this, businesses are in trouble. And even the largest, most established companies know that their very survival is on the line.

They’re concerned the customers will stop coming…

They’re concerned their prices will be undercut by competitors…

But most of all, they’re scared that the very life of their business is in jeopardy.

Believe it or not, THAT’S the good news… for YOU.

Why? Because companies that are in trouble will pay dearly for the right person with the right information that can help them survive and even thrive in an economy like this.

Now how do become that person? Moreover, how do you get that message in front of businesses that need and can use your help?

Believe it or not, actually helping the client isn’t the hard part. In my 42 years of experience as a consultant to some of the biggest names out there (including AT&T, Black & Decker, Nabisco, Coca Cola, Kellogg’s, Marriott and others…), I’ve pretty much seen it and done it all.

The only reason I mention this is so that when I tell you something, you KNOW it’s coming from years and years of my own personal experience as well as seeing first hand what hundreds of other consultants I’ve trained have done and are currently doing.

If you haven’t launched your consulting business yet, if you’re new and are looking for your first client, or if you’ve been through training for awhile and things just don’t seem to be “clicking” for one reason or another, understand that helping the client is the easy part.

GETTING the client is where most consultants run into trouble.

More about that in just a moment. But first, let’s talk about something I call…

The Secret to Consulting Success

Success as a business consultant is about a simple 6 letter word you’ve heard thousands of times:

ACTION

In my years of training over 950 consultants around the world to use a system that can help them earn six-figure incomes working on their own terms, the number one factor that causes new consultants (or even experienced ones) to struggle is a LACK of action.

You might think this next sentence sounds crazy, but it isn’t: ANY action is better than no action.

Trust me on that.

The reason I can say that with such confidence is because WITHOUT action, it is impossible for you to learn anything about how to succeed.

Take an action… if it fails, you’ve learned something (what doesn’t work and what not to do next time).

If it succeeds, you’ve learned something AND you’ve taken a step closer to success.

Either way, you’re better off than you were before.

Occasionally a new consultant will call me and say, “Martin, on some of the teleconferences I hear how some of the consultants are making such large incomes, but I just don’t understand why your system isn’t working for ME.”

My response is pretty much always the same, “Well, tell me what parts of the system you’ve put into action to create the results you want?”

At that point, there’s usually silence on the other end of the line.

Now I’m not telling you this to make light of anyone’s struggle, but here at the beginning of 2009, you must get clear about exactly what creates results in the consulting business.

Results are created by ACTION. Nothing else.

If you’re ready to take action this year to launch YOUR consulting business or to grow the one you already have, then you’re probably interested in what I’m about to reveal:

It’s my answer to the “#1 Most Frequently Asked Question EVER” from the consultants who go through the TopLine System and who are not making the kind of income they want.

Here it is:

“Martin, How Do I Get CLIENTS?”

TopLine consultants know that there are a LOT of answers to this question. In fact, the TopLine system includes almost 200 pages of “client getting” strategies.

But today, I want to talk about the ONE strategy that is probably more effective than anything else.

Here it is:

Position yourself as an EXPERT in the marketplace.

If that sounds complicated, don’t worry, it’s not. In fact, there are so few entrepreneurs out there willing to take ACTION to do this, that becoming the expert in your market is actually quite simple.

There is ALWAYS a lot of room at the top. Remember that.

So how do you go out and get clients when you’re the EXPERT in your market?

You don’t have to. Because the clients come to YOU! And when you master this step you’ll eliminate the need for prospecting once and for all.

So ask yourself today, what’s the ONE thing I could do THIS WEEK to position myself as THE expert in my market?

Here are just a few ideas:

-Publish a press release commenting on a current event in your local business community…

-Publish a “whitepaper” that focuses your expertise on solving a
business problem you KNOW business owners are experiencing. No need to start from scratch… any of the Special Reports that come with the TopLine system can be used as is, or easily converted to the format you want…

-Go to networking events with one focus ONLY: to add value to the businesses of those you meet. You are NOT there to sell or talk about yourself or your business. You are there for positioning yourself as the EXPERT. That means you must LISTEN first.

-Be sure you have your personal marketing materials in order, i.e., your book, Audio Business Card, Special Reports, etc.

Now as you can see, all of these strategies require action. Remember, that’s your key to success.

OK, that’s all for today. I’d love to hear your comments about this first issue, so please send them in.

And there’s yet, another school that teaches that some businesses are started by the wrong people… that those people lack entrepreneurial skills and foresight. That they would be better off working in the business as technicians or employees rather than trying to run the business.

Many business owners believe that the most important business asset they have somehow has to do with their building, their location, their computers, their staff, the products, policies and services they sell, or the knowledge, managerial abilities and sales skills they may have.

Of course, all of these things are important and will certainly contribute to the success or failure of a business, but they’re not the most important, nor are they the most valuable… not by a long shot.

The Most Important Asset Any Business Has

When you get right down to it the most important business asset any business has, is not their wonderful products, their top-notch sales people, their to-die-for location, or even their state-of-the-art production capabilities. It’s their customers, their clients, their patients, their members… it’s whoever pays for the things the business sells or provides.

If a business were to lose everything they have… their building burns down, their delivery vehicles are stolen, their employees and salespeople leave to go to work for someone else, their facilities are totally destroyed, and their products completely wiped out… as long as they maintain a base of customers or clients to sell to they may still be in business. They can rent another building, lease computers, vehicles and equipment, and even hire staff to replace those they’ve lost.

But if all their clients walked out the door to do business with someone else, all those material things I’ve mentioned are just overhead and continue to cost the company money. So the most important skill a business can have, is knowing how to cost-effectively attract (that’s “acquisition”) and keep (that’s “retention”) an adequate number of loyal and profitable customers.

If your customers are your most important and valuable business asset, then knowing how to cost-effectively attract them in large numbers, then profitably convert them into loyal, renewing or repurchasing customers who will not hesitate in referring others to you, is the most important business skill you can possess.

Your Business’ Number One Priority

The bottom line is, if you really want your business to be successful you’ve got to make getting and keeping profitable customers your number one priority.

And that’s where “Marketing” comes in. Letting others know about what you have in such a way that they are compelled… nearly forced to want to find out more, and then ultimately, pay you for the products and services you offer, and not your competitors.

Properly utilized, effective marketing can skyrocket a business to new and undreamed of heights. Not under-stood or under-utilized, a business can sink like a lead weight. Most businesses… no, not most… every business makes mistakes with their marketing efforts. Some are worse than others, and if done often enough, or severely enough, can put your business out of business.

But it’s not enough to just acquire new business. You’ve got to keep that business on the books and keep your customers coming back again and again to make repeat purchases with you if you want to build a massively successful business.

Business analysts and savvy business owners will tell you that seasoned business… that is, business that you already have on the books or that has purchased from you in the past, is more profitable to sell to than raw new business. In fact, statistics tell us that it’s six to eight times easier to sell to an existing customer than it is to acquire a new customer.

Think about it. When was the last time you heard of a company going out of business because they had too many happy, satisfied customers buying from them? My guess is you never have.

On the other hand, you can probably name quite a few businesses… even very large corporations that are no longer around because they didn’t have enough people making repeat purchases from them and referring others to them.

It bears repeating, that if your customers are the most important business asset you have… and the number one cause of business failure is not being able to attract or retain enough customers, then it stands to reason that the most important business skill you can possess, is knowing how to cost-effectively attract and keep profitable customers.

The first thing you must do is put yourself in the shoes of the person you want referrals from and ask yourself why would they want to give you a referral? What is the benefit to them? It’s important for you to realize that when someone refers their clients to you… a client they have spent countless hours and dollars cultivating a relationship with… they are putting that relationship and any future business they may do with that client on the line. And in order to maintain that relationship, or better yet, enhance the relationship, your referrer must be absolutely convinced that you have something of value to offer them and the person they refer to you.

And that’s the key… value. Everyone wants value. And the more value you can bring to a relationship the better chance you have of getting referrals from your intended referral source and future business from those whom they refer to you.

If you can demonstrate real and actual value to your potential referrer and do it in such a way that they immediately and directly benefit from it, it can literally become a no-brainer for them to refer their associates to you. So how do you do it? How do you demonstrate that kind of value?

Here is a simple 10-step process you can use to position yourself as someone your sources will refer without hesitation:

1. Let them experience what you do. Put them through your process and do for them exactly what you are proposing that you do for their clients. Only do it on a smaller scale and don’t charge them for it. It’s called “Sampling”. And it’s the same thing Debbie Fields did when she started her Mrs. Fields Cookies business. She stood outside her store in the mall and handed out free samples of her cookies. If you took one and liked it you went into the store and bought a dozen or two to take with you. You can do the same thing. Give those you want to refer business to you a “taste” of what you can do for their clients. Let them experience the benefits in their own business and create a “WOW!” experience for them. Make it practically irresistible for them to not refer their clients to you so they can experience the same thing. Here’s an example of what you might do using CPAs as an example:
2. Compile a Competitive Intelligence Report for 4 or 5 CPA firms. “Mystery shop” their businesses by calling and/or visiting them to see what they do, how they do it and how you’re treated. Talk to a handful of people who have done business with this type of business – not necessarily your target, just these kinds of businesses. Find out from them what they like, what they dislike and what they would change if they owned that business. Compare their ads and marketing efforts and come up with a few ideas that if applied could make their business stand out from the others and give them a competitive advantage.
3. From what you’ve learned in gathering your information, select the ONE CPA that you feel is the most open-minded and who would be the most receptive to listening to your presentation.




4. Send them an attention-getting package in the mail that contains information about what you do and how it will benefit them to give you some time to make your presentation. Your package might include, a couple of articles you’ve written, a copy of a book you’ve written, perhaps an Audio Business Card, page of testimonial comments from others you’ve worked with, and a letter that introduces you. Give them step-by-step instructions on how to go through the materials you sent them and tell them to watch their mail for a “Special Invitation” that will be arriving in a couple of days.




5. Two days later send them an “Invitation on a Silver Platter” that invites them to a 30-minute “Strategy Session” with you to be held in their office, where you will demonstrate exactly and step-by-step how they can grow their business by XX% in XX days. Tell the CPA that you don’t want to bother them, and if they will let their secretary or assistant know what day and time is convenient for them, you will contact their assistant in two days time (say, Wednesday at 2:00 PM) to confirm. What you are doing is showing respect for the CPA’s time and acknowledging and extending respect and importance to their assistant.




6. At the same time you send the invitation to them, send a small box of cookies to the secretary or receptionist… the person responsible for scheduling their time. Included is a note that lets them know that a couple of days ago you sent their boss a package and that today you sent him or her an “Invitation on a Silver Platter” requesting a meeting. Let her know that the meeting is very important and you would like her assistance in scheduling a time for you to meet with the CPA, and that the cookies are your thanks in advance for her assistance. Now two things have happened. First, you have included the assistant and have not gone around her directly to the CPA. This shows that you respect her and have “recruited” her to be on your team. Second, you have invoked the Law of Reciprocity by giving her the cookies up front. Now she has an “obligation” to get her boss to give her the day and time for your meeting. This puts some gentle pressure on the CPA and helps ensure that your meeting is actually scheduled.




7. When the meeting actually does occur, bring the assistant another small gift – perhaps a gift certificate for dinner at a local restaurant – for helping you arrange the meeting.




8. During the meeting with the CPA, present your Competitive Intelligence Report and the first sheet of the Business Growth Calculator showing a hypothetical business and the significant growth that occurs to the business if you make some simple tweaks or improvements to a handful of key areas.




9. You then give the CPA a few things that he or she could put in place immediately to increase their business. You might consider things like a regular newsletter to keep in touch with their clients and to make special offers, a Referral Reward program, packaging certain of their services in order to increase the average transaction value, creating their own Audio Business Card, holding special Preferred Client Appreciation Seminars or Get-Togethers to reward or show special appreciation to their best clients.




10. Explain how by them referring their clients to you, and you making those clients more successful, their business can grow without them having to do anything except endorse or recommend you to their clients. Because they are trusted advisors to their clients, those clients are likely to act on their recommendation and at least give you audience for 20 to 30 minutes while you demonstrate to them why it is in their best interest to enlist you to work with them on their business. In effect, you do for them what you just did for the CPA. You demonstrate the real and immediate value you can bring to their business.

There are so many things that can be done to get a team of professionals on your side as referral sources. They’re fun, they’re productive, and they can be very profitable. Some things will work and some won’t. Some professionals will be receptive and some won’t. That’s business. The key is to take massive action and get the Law of Large Numbers working for you.

Here are a handful of practical ideas that have worked for some of the world’s largest and most prestigious businesses and that will work for you in your business as well. These ideas and strategies can be used to very quickly and easily take your business to the next level and begin adding profits to the bottom line of business’s balance statement.

You should pay very careful attention to each of the following sub categories.

Increase The Value Of Each Sale

Getting more money from each sale, or increasing the average transactional value of each sale. That is, getting more money from every purchase your customers make has the potential to add an immediate 30 to 40 percent in pure profits to your bottom line. Using this technique, and making a simple suggestion, fast food restaurants add millions in profits to their coffers every day.

Jus a few of the strategies they use include:

Up-selling – Not selling anything additional – just offering a larger size or more of the same item the customer is already purchasing. Super-sizing a drink or an order is an example of Up-selling.

Cross-selling, or suggesting that your customer buys an additional item that they didn’t intend to purchase, is another effective way to increase the monetary value of the order. Asking if a customer wants fries with their hamburger and drink is an example of how a fast food restaurant uses this technique.

Packaging, bundling, or combining several items together and giving a discounted price is another way to get your customers to spend just a little more and get a better value. “Happy Meals” or “Value Meals” are an example of this technique.

Each of these techniques only adds a little more to the total cost of the meal, and aside from the actual hard costs of the additional products, that “little more” is pure profit since there are no advertising, marketing or acquisition costs involved.

Sell More Products And Services

The goal of every business should be to make sure their clients and customers are getting the maximum value, use, enjoyment, benefit, and satisfaction from the products and services they purchase from them.

If your business has additional products or services that would help your clients and customers increase the benefits they derive from their original purchase, you have an obligation to your clients and customers to make those products or services available to them.

If you don’t have anything additional that you can make available to them, you could easily look outside your company to other businesses who offer products or services that are complimentary, but not competing, and that would enhance the value of the original purchase, and work out joint venture arrangements to make those products available to your customers.

Increase The Number Of Times Customers Purchase

Too many businesses operate with a one-time sale mentality. They give very little thought to repeat sales or back-end purchases. But that is where the real money is. It’s not uncommon for a business to lose money or barely break even on the initial sale. And it oftentimes takes several repurchases before any real money is made.

Establish And Maintain A Segmented Database

One of the most effective ways to increase sales is by having an up to date, clean and segmented database of all your customers – past, present and future customers – your prospects. When you keep track of your customers and what they’ve purchased in the past, and then see that they are informed of special sales and offers, special events, and new items, and discounts and promotions on items they would be interested in, shows them that you care about them, and encourages them to make additional, often more profitable purchases.

Increase The Average Buying Lifetime Of Each Customer

It just makes sense that the longer a client or customer continues to do business with you, the more products and services you’ll have the opportunity to sell that customer, which of course, translates into more profits.

And the longer that client or customer keeps coming back and buying from you, the more benefits they’ll receive from the products and services they’ve purchased, which leads to a more satisfied customer, and again, means more profits to you.

For example’s sake, let’s say your average customer stays with you for a period of five years before moving on to do business with another company, or no longer needs the product or service your business offers.

If that five years could be extended by just one year, it would mean an increase in profits of 20 percent – even if nothing else changed. Actually, it would be somewhat more than 20 percent, because there were no acquisition costs for that extra year like there was for the first year the customer did business with you.

And naturally, the longer the customer’s buying lifetime with you, the more chances you’ll have of selling additional products or services to them and of getting referrals of others who can use and benefit from the products and services you sell.

If you’re serious about growing your business, give these ideas a try. They have been proven time and time again in countless businesses, a variety of industries and in nearly every profession, and they can work the same magic for you and your business, too.