4 Ways To Grow Your Business Quickly

Many entrepreneurs think that business growth has to occur slowly. Nothing could be further from the truth.

I coach large numbers of entrepreneurs every year, and time and time again I have seen people achieve stupendous levels of growth in a very short period of time.

So how do you do it?

There’s many ways super fast growth can be achieved, but I’ll outline 4 of the most crucial ones below.

1. Raise Your Personal Performance Standards

It’s easy to get a little slack when it comes to driving your own daily performance at work.

Your business might be going quite well without much of your effort. Or perhaps you’ve been running it for many years and you’re just bored by what you’re selling. Pretty soon you’ve relaxed too much and started functioning at a sub optimum level.

It shows in small ways: you arrive a little later to work, you settle for lower product standards. You don’t give a sales presentation everything you’ve got. And before long you aren’t performing brilliantly, you’re coasting and taking it a bit too easy.

The solution is to take a step back, evaluate your performance, and if you find it lacking decide to recommit to personal excellence.

What do I mean by that?

I mean make a conscious decision to do every important thing at work to the very highest standards of excellence. When you as the owner of the business decide to lift your performance level, you’ll find everyone around you (staff, suppliers, even clients) will lift theirs.

But if you accept low standards from yourself, all those you work with will function at a lower level too.

Believe me, all great business results start inside the head of the business owner. They see a vision of themselves as outstanding entrepreneurs then endeavor to make that vision a reality. If you don’t start with a personal vision of excellence, great achievement is simply impossible.

So step one is to lift your ideals, aims and standards and everything else will rise in accordance with that vision.

2. Focus On No More Than 3 Key Areas Of Your Business

Too many CEO’s spread themselves too thin. They aim to do everything and end up achieving almost nothing.

While in some ways it’s admirable that a business owner wants every part of their business to get better, the reality is they usually need to focus on just getting a tiny number of critical things right. If they choose those wisely their business growth will be spectacular.

Where do you focus? Well start with these three areas:

  1. How to get more qualified leads.
  2. How to convert those leads into customers more often.
  3. How to get those customers to purchase again.

Think about it. If you just got these three aspects of your business running magnificently, imagine how much wealth you could create.

Now let’s do a little test: How much of your time each week is presently dedicated to these three crucial areas? Probably less than 20%.

So often, business owners get caught up in all the other stuff that seems important at the time, but in the end doesn’t really improve your profits. That’s plain crazy. Get focused on what matters and don’t let yourself get distracted with the endless business trivia.

3. Get More Administration Help

Entrepreneurs tend to do too much themselves. I can’t tell you how often I’ve seen the heads of businesses waste hours doing tasks that a low level assistant could have done. And they wonder why they are still at work at 7.30pm!

You must stop doing what doesn’t matter. Hire an assistant (part time if your cashflow is low) and load them up with all the tasks that take you away from making money: looking for stuff on the internet, typing, tidying, answering unimportant emails. etc etc.

You’re not saving money, you’re losing money – if you had somebody to help you you could double or even triple the amount of time you spend growing the business.

Here’s an interesting story. Years ago I had left the company I co-owned after a disagreement with my then business partner. I didn’t know what company I was going to open next, so I rented an office space and then hired not one but two personal assistants.

Now some people would say that was a ridiculous waste of money – after all, I didn’t even have a business at that point. But I saw things differently.

As soon as they started I got them working on any business idea I could think of – researching, organizing and reporting back to me. After awhile I began to work out what my next venture would be and I hit that business with massive momentum. With those assistants helping me I was able to concentrate on what mattered most – developing a new killer business.

Isn’t it time you got some help? To achieve great things you must give yourself the time to think of great things. And it’s very hard to do that if you’re handling a mountain of urgent and low level tasks yourself.

4. Develop Something Else To Sell

If your company has grown to more than $1 million in revenue, often the fastest way to grow faster is to sell an additional product to your customer base. Is it not true that you probably have numerous customers who would buy a second product from you, if only you offered it to them?

After all they already know your company. They like what it does. And they believe in your staff and what you’re aiming to do.

That should make it pretty easy to convince a fair amount of them to take a look at something else you’ve been developing for them.

Disney did this by creating a Disney cruise line. Apple did it by adding the iPod, iPad and Apple Watch. Porsche did it by creating an SUV for families.

As soon as you begin thinking along this vein, you’ll quickly come up with some promising ideas. Simply ask yourself: what else would my customers buy from me? Then choose something that is easy for you to produce or offer within your current way of operating. (You don’t want to radically change how your company works just to try a new product).

What’s an easy way of finding out what else your customers want? Why not survey them and actually ask them. They’ll appreciate that you bothered to seek their opinion and you’ll get some valuable intel.

The faster you increase your product offering, the quicker new and greater revenue will come in.
Now none of these four ways to build your business quickly are particularly difficult.

And at least 3 of them could be done within a week (developing a new product will probably take a little longer).

So why not give them a try? If you do it’s almost certain that within a very short period of time you’ll have both a bigger business and a better run one.

What Entrepreneurs Can Learn From Trump’s Victory

Like him or hate him, there are some important marketing lessons from Donald Trump’s election victory for entrepreneurs.

Here’s my top 3:

1. Don’t Be Normal.

I’m not talking about being crass or rude, which of course many accuse Trump to be. I’m talking about something more interesting.

The brands that get known and talked about rarely achieve fame by being sensible and normal. They have the guts to stick out and be noticed. They make a stand, they push the boundaries for their industry. They do and say things worthy of discussion.

Look at how Trump defeated 16 other Republican nominees. In every debate he was out there, making big statements, even ridiculous ones. As a result he stood out from every one of his competitors and eventually defeated them all, including many who were far more qualified to lead.

In your own way, in a tone that’s right for your industry, and certainly without the same bluster as Trump, you should do the same. Being normal and ordinary in business is commercial suicide.

The wallflowers in the entrepreneurial world rarely earn the bouquets.

2.  Be Supremely Confident When Talking To Potential Customers.

Donald Trump could never be said to be an expert on any area of U.S or global policy, but that sure didn’t stop him acting like he was.

He always spoke with strength and certainty – you have to admit he exudes tremendous confidence.

You may not be running for office anytime soon, but the same rules apply for you as a business owner. People are attracted to people who really believe in themselves and the product they sell. People who look like they are at the top of their industry.

Boost your impact by acting like you totally know what you are doing and are the best on the planet in your field. People buy certainty.

3. Pick Your Key Audiences Very Carefully.

One of the key differences between Trump and Clinton during this election is how intelligently Trump focused on key markets. He was never out to win everyone’s favor, he understood that if he lasered in on the rust belt states of Michigan, Pennsylvania, Ohio and Wisconsin and won them that would probably be enough to take him to the Presidency.

You need to do the same. Here’s a question all entrepreneurs should ask: out of all my previous or current customers, who do we serve really, really well? What type of person is our sweet spot, where they love what we do and they are easy to sell?

Inside your potential customer base is a much smaller sub set of people who are your absolute ideal customers.

Identify them. Then build your marketing communications expressly to appeal to them. If you do you’ll be amazed at what can happen.

Trump certainly was 🙂

Let me emphasize again that when I write about Trump I am not necessarily endorsing him, but merely looking at his marketing strategy tactics.

The guy did an amazing job to pull off that victory.

And all of us as entrepreneurs can utilize his 3 tactics above to win our own victories in business.

Pills That Make You A Better Entrepreneur

As entrepreneurs we should be looking for any advantage over our competitors that we can get.

One area we should take seriously is nutrients.

The fact is there are all sorts of vitamins, minerals and nutraceuticals that can make us mentally sharper, smarter, more creative and more positive.

(All attributes of top level entrepreneurs).

Yet very few people realize that we can improve in all these areas by consistently taking the right pills. So today I’m going to explain which nutrients you should take and how they improve your mental abilities.

1. Vitamin D
Vitally important for brain development in infants, Vitamin D can also be used with great effect by adults to improve their mental functioning.

In particular, Vitamin D has been shown to improve your memory and your problem solving skills – both crucial attributes of a highly effective business person.

2. B Complex
Many people know that taking B complex vitamins can reduce executive stress- reason enough to consume them daily.

But an Oxford University study showed that three of them – B6, B12 and folic acid (B9 also) helped prevent mental decline, brain atrophy, brain shrinkage – and improve mental functioning.

3. Fish Oil
Much has been written about the power of fish oil to improve your overall physical health, but there’s been less discussion about the mental benefits.

Fish oil is arguably the most important nutrient an entrepreneur can take. 

Numerous studies have show it to be equivalent in effect to a variety of pharmaceutical depressants.

A Scottish study showed that regular consumption of fish oil supplements over time also increased IQ.

Other studies have proven it also helps reduce the chances of Alzheimers and generally to improve brain function and mood.

The more you look into the powers of fish oil, the more of it you’ll want to take.

4. Phosphatidylserine
The little know nutrient is found in abundance in brain tissue.

It offers a variety of mind benefits including improving cognitive performance, enhancing memory and increasing alertness. 

Who wouldn’t like improvements in those areas?

Try them for a month and see the difference in your performance.

 

4 Tactics To Take Your Business To the Next Level

Sometimes building a highly profitable business is easier than it looks.

We so often think the answer to growing our company is working longer hours and doing much more work, but in my experience coaching hundreds of business leaders and entrepreneurs on growth, is it’s often the really simple, easy steps that make the biggest difference.

With that in mind, here are four small things you can do that together will make a huge improvement to how fast your company grows.

1. Find A Richer Customer

What product could you offer especially for wealthier clients?

Strangely, people who are wealthier are often easier to sell to than those who are struggling financially. Opening the wallet doesn’t hurt as much. But if you don’t have something good to offer this richer style of customer you are leaving huge amounts of money on the table.

Remember also that a more expensive product usually means much higher margins for you, so while you’re revenue may increase say 20% with this new upscale  product your profit at the end of the year may be much higher.

2. Develop A Continuity Business Model

One of the most effective ways to quickly build your profits is to design a service or product that is continuously delivered. If you sell a service, this is usually achieved by selling a monthly retainer for ongoing work. If you sell a product it’s by getting customers to sign on for monthly or quarterly re-orders.

In the case of the latter, it is remarkable how you can turn almost anything you sell into a continuity model. Look on the internet and you’ll find highly successful monthly continuity models for clothes, gifts, advice, socks, meat, wine, DVDs, events and hundreds of other categories.

What could you offer that is delivered monthly or quarterly? This kind of recurring revenue is a mega opportunity to not only lift your revenues but keep them high year after year.

3. Reactivate Old Clients Or Leads

In the last week alone I have seen two of our business coaching clients (a builder and a tennis academy) get lucrative orders within hours of sending an email to their old list of leads/customers.

Think about it. Many of these people are still interested in what you offer, they just need to be reminded that you offer it. Re-activating your old enquiries and clients is one of the fastest ways of all to make your profit levels zoom. Be sure to do it every six months.

4. Do Something To Grow Your Customer Base Before 10am

You know how it goes. You have wonderful intentions to work on your sales and marketing but the urgent problems of the day soon take over and all of a sudden it’s 6pm and another day has gone without doing it.

There’s an easy way to fix this incredibly costly problem: work for an hour on sales and marketing as soon as you come into work each morning. Just one hour will make a massive difference to your company’s growth over three months – but it must be done each and every work day.

The best way to make it occur is firstly to diarize it and secondly to inform your staff (and if need be your clients and suppliers) that you’re not available until 10am each day. If you don’t do these two things my experience with coaching hundreds of entrepreneurs is that it won’t work.

Take another look at the four concepts above.

Yes these four small changes are simple, but since when does something have to be complex to be effective? Trust me, if you instill these four concepts into your business you will make a lot more money- surprisingly quickly and with relative ease.

How WD40 Can Make You A Better Entrepreneur

If you sometimes get a little down about building your business, then this short video could be very useful for you.

It’s the true story of how WD40 got started.

As most people know, WD40 is a liquid that you spray on doors etc to stop them squeaking.

But creating this amazing product was anything but easy. Check out their story here:

It’s an amazing story. And it’s a story that all entrepreneurs should hear.

Especially those of you who are having trouble growing your business. Or making your marketing work. Or increasing your profits.

I think you’ll find it pretty inspirational. Check it out here

Priceless Advice From The World’s Greatest Salesman

In business, selling is the number one skill.

A person who is average at every area of business but outstanding at selling will still do extremely well financially. Selling is that important.

But who is the king of sales, the absolute best in the world?

In my mind it has to be Joe Girard, who the Guinness Book Of World Records says is the greatest sales person of all time (based on number of cars sold over a very long time (a whopping 13,001 cars sold in 15 years!).

When Joe gives advice about how to sell, we should all listen. So here are Joe’s tips for selling:

1. Positive Attitude Is the Number One Criteria For Success in Sales.

Sales can be really tough. You must constantly work on your attitude to keep it positive. A positive attitude greatly increases the number of people who will buy from you, even when your product is no better than the competition.

People love dealing with positive people. Make sure you are emotionally up all day.

2. Time Excellence is Vital.

Be organized. Always have a plan and clear goals. Think ahead- conceive your day’s plan the day before. Meticulously organise your time so that you do more of the things that make you money.

Line up everything you’ll need to make a sale well in advance. Plan your presentations carefully. Never be late. Arrange your desk so everything you need is in place so you can find it immediately.

3. Work When You Work.

Joe observed that so many executives worked at only half speed when they were in the office. They would stop and chat, take frequent breaks and waste time throughout the day.

Close the door, keep non productive conversation to a minimum and create an environment of urgency while you work.

4. Don’t Underestimate The Effect Your Appearance Has On Perceptions.

People often make decisions very quickly about another person. You need to make sure their instant perception of you is one of personal excellence. 

Take care of your hair. Be physically trim. Look after your nails. Check your posture.

Make sure your clothes are high quality, clean and  well pressed. And take care of your footwear.

These may seem like small things, but collectively they sculpt people’s impressions in your favor.

5. Listen, Listen, Listen.

Joe Girard believes people talk too much when they are trying to sell something.

But listening carefully gives you vital clues that you can use in the persuasion process. Be observant. Be thorough in your questions. Don’t jump to conclusions.

And critically important: let them SEE that you really care about what they are saying, by using your posture.

6. Constantly Stay In Touch.

Joe believes that one of the main reasons he became the pre-eminent sales person on the planet is that he perfected keeping in touch. Not just with potential customers but also with past customers to get repeat business.

He had a comprehensive program for staying in touch.  In fact near the end of his career Joe had so many repeat buyers that he was sending 16,000 direct mail pieces a month just to customers. 

Each one of them received 12 communication pieces a year. Now that’s staying in touch!

It’s no surprise that repeat business accounted for 75% of his sales.

These are all simple rules, but almost nobody follows them.

So consider keeping this list of To Do’s from Joe on your desk, where you’ll see and act on them often.

Joe Girard is the best at sales that there ever was. There’s a lot we can learn from him.

Entrepreneurs – Please make sure you do this

Here’s a tip that can really help you.

Throughout the year I run 2 day trainings for ambitious entrepreneurs.

I just completed one a few days ago.

I spend two entire days teaching cutting edge business growth strategies and solving entrepreneurs’ biggest problems.

Here’s what I discovered:

In general, entrepreneurs who weren’t making much progress do two things wrong:

1. They don’t have a super clear set of goals for the next 3 months.

As a result, they get caught up doing urgent things that aren’t actually that important.

Things like emails, phone calls, staff interruptions, admin etc.

Suddenly it’s 3 months later and they’ve achieved very little.

Not only do almost all successful entrepreneurs have 90 day goals, they make sure they think about those goals constantly.

They don’t put them in a drawer and forget about them, they focus on them all day long.

The second thing poor performing entrepreneurs do is explained in this short video I’ve prepared for you.

I think you’ll agree with me – and find it very valuable information for building your company faster.

Check out the video here:

 

A Ridiculously Easy Way To Increase Your Company’s Profits

We all want more customers.

It makes us feel good to see more people buying from us.

But believe it or not, getting more new customers is not the best way to grow your business.

There’s another way to make money that’s far easier and more efficient.

Yet hardly any businesses pay enough attention to it. In fact many don’t even address it.

So what is this rarely utilized way to make loads more money in your business?

It’s simple. Just ask your current customers to buy more.

Think about it.

Getting a new customer can be expensive and time consuming. You have to advertise, make sales calls, give presentations or attend events and meetings.

For many businesses, acquiring a new customer can take weeks or even months, and cost hundreds or thousands of dollars.

Yet to get your current customers to spend more with you is super easy.

After all, having just bought from you they are already won over.

You don’t have to run expensive ads or do elaborate presentations. All you have to do is the following four things:

  1. At the moment they want to buy, offer them another product or service, ideally at a special discount.
  2. Show them a product that many people who bought their product also found useful.
  3. Upsell them to a more expensive, better version of the product they want to buy.
  4. Suggest they buy several of your product at once, rather than come back later.

It’s that simple.

Make any of those offers and a percentage of your customers will say yes.

Bingo, you’ve just lifted your annual profits – often by 10 to 50 percent.

And that’s net profits – it costs you nothing to get these extra sales.

There really is no easier or quicker way to make more money in your business.

How to Maximize the Last 4 Months of the Year

Incredibly, there is now just 4 months until the end of the year.

Is your business going amazingly well?

Or do you need to do take it up to the next level to make sure the year is a success?

If it’s the latter, here are some ways you can improve your business results quickly.

1. Pick the 3 Things That Increase Your Income And Spend Most Of The Day Doing Them

Most of the things entrepreneurs do each day don’t increase their income. 

In most businesses, usually there’s only a handful of activities that actually bring in more money.

You need to get very clear about what they are. Then organise your week so that there’s far time spent on each of them.

Double the time you spend on these 3 tasks and you could double the size of your company.

2. Increase The Speed And Intensity Of Your Daily Work

Start acting with genuine urgency. If you usually have staff meetings that last an hour, do them in 30 minutes.

If you get into work at 9am, get in at 8am.

If you usually do 5 sales calls a week try doing 5 every day.

Then instill this sense of urgency into your staff and your key suppliers. So that everyone who works with you knows they have to lift their game higher than ever before.

Acting with urgency and great desire will massively change your results for the better.

3. Ask for Money Much More Often

If your business is not growing quickly a common reason is you are not asking enough people to buy from you, often enough.

There are numerous ways to ask for money in a business:

You need to focus on bringing in more leads – via advertising, PR, joint ventures or the telephone.

You need to increase the amount of meetings you have with people who can buy.

And you need to create more reasons why somebody should buy from you – make them more offers, create new products or services, announce special short term discounts etc.

If you reach out to a lot more people, with lots more offers and reasons to buy, you will inevitably get a lot more sales.

NOW IT’S UP TO YOU.

I’ve now given you 3 highly effective strategies to make sure the last 4 months of your year are excellent financially.

I can virtually guarantee that if you make them a central part of the way you operate, you will see a remarkable lift in your sales.

The clock is ticking, the end of the year is rapidly approaching.

Let’s get to work.

Never Forget This Crucial Business Rule

Running a business can seem incredibly complex.

You need to know how to do marketing, sales, finance, organization, leadership, logistics and management. And a whole lot more.

It can all be pretty intimidating. And there may be times when you think that you are just not ‘business minded’ enough to make a success of it.

In fact, as coaches of entrepreneurs we hear this all the time – smart, motivated business owners that worry that they’ll never be able to learn the skills needed to run a high growth business.

Don’t believe it for a second.

Business is a whole lot simpler than it may appear. You need to create a system to bring in potential buyers, you need to convince them to buy and then you need to deliver what you sell. That’s about it

Do those things well and believe me, you’re likely to make a lot of money, even if you don’t know all the corporate jargon and advanced skills of business.

And always remember the most important business rule:

All business skills are learnable.

You may not know how to do the things I listed earlier, but there is nothing, I repeat nothing, that is beyond you learning. (In fact most business skills are relatively simple to get reasonably good at).

So don’t worry too much about what you don’t know. Just commit to methodically learning the key business skills, one by one.

All business skills are learnable.

You can do this.