The World’s Simplest Way To Increase Your Revenue

Over the years I’ve learned over a hundred techniques for lifting a company’s income.

But there is one strategy that is so simple it’s almost ridiculous. Yet the entrepreneurs who really embrace it report extraordinary results.

It takes only a few days to do, and can then be used to reliably increase a company’s revenue for decades.

What is this crazily simple technique?

Make more offers to your clients.

Let me explain. Generally entrepreneurs have a handful of services they offer to their clients. And rarely are clients offered anything new down the track.

That’s such a wasted opportunity.

You go to all the trouble of winning over a client, then you keep giving them the same menu of services. Yes they may like what you do, but you’re missing the chance to make a lot more money from them.

Just ask yourself, what else could you offer them?

Is there something deeper? Or more expensive? Is there a service you could offer that is closely aligned to what you do now but different?

Could you offer them another company’s services?

With a little thought I’m confident you’ll come up with several additional services you can offer them. Now spread out those offers throughout the year, so that every quarter you offer your clients a different service. (So in total you have at least 4 different offerings).

The result of this extremely simple technique can be wondrous on your bottom line.

It usually improves your client relationships too. Clients see your company as forward thinking, progressive, proactive. Always coming up with fresh ways to help them.

So try the world’s simplest method to increase your revenue.

It may be simple, but it works.

5 Brilliant Business Books You Should Check Out

As you probably know, I spend a huge amount of time studying the art and science of business success.

As a result, I’m frequently asked what business books I recommend.

There really are SO many awesome books, it’s hard to choose which ones to suggest for you.

But below I’ve compiled a list of 5 that most people haven’t read or even heard of, but I view as being extremely useful for entrepreneurs.

1. From Zero To One, by Peter Thiel

This is written by one of our era’s most successful and controversial founders, Peter Thiel.
It’s got some radical views about what makes a superb business, but reading it you can see how Thiel became a legend in the technology and venture capital worlds.

2. The Founder’s Mentality, by Chris Zook and James Allen

These guys work at Bain, one of the perennially hot management consulting firms. The book is very simply written, but is crammed with important research on what common traits of thinking successful company founders possess.

3. The Sales Acceleration Formula, by Mark Roberge

This is all about using data, technology and inbound selling to go from $0 to $100 million. What makes it really interesting is the author used this exact technique to grow a hugely successful sales based organisation with phenomenally fast growth. It’s all about turning your sales system into a predictable machine.

4. Playing To Win, by A.G Lafley and Roger L. Martin

This book is totally focused on how to develop a great strategy for your company. Lafley was the CEO of Proctor And Gamble during some of it’s finest years- the guy is a legend in consumer goods marketing. You’ll be amazed at how often he took an ordinary, boring product category and revolutionised it with creative product development. If you think there’s no room to break the mould in your industry you’ll think differently after reading this insightful book.

5. Getting Everything You Can Out Of All You’ve Got, by Jay Abraham

This is one of those rare books where you can literally just copy the author’s suggestions and you will almost certainly increase your company’s sales. It is full of practical methods of increasing revenue, if you are willing to put in some work to make them happen. Read Abraham’s book and you will know how to make any company more profitable.

Okay, so there’s 5 awesome business books. Pick one right now and order it – you won’t regret it. 

In the end, business is about knowledge and action. Any of these books will give you knowledge most of your competitors are simply unaware of. It’s an incredible advantage to know some of this stuff.

Then it’s up to you of course to take action on what you learn, methodically, comprehensively and daily.

How To Handle The Stress Of Being An Entrepreneur

When you get overloaded with work, what do you do?

Most people push through it, work much longer hours and just accept that they are in a stressful period. In essence, they try to out work the problem.

I coach a lot of entrepreneurs, and when I see they are overloaded with work I suggest they do the opposite.

Stop work entirely. Take a break. Get centered and calm. 

Then begin the process of getting clarity over your work situation.

Here are the 5 ways to get clarity.

1. Tidy up your work environment
Your office environment definitely affects how well you think. A messy desk helps create a messy mind. It’s hard to think clearly when your direct work environment is chaotic. Just ten minutes cleaning, tidying and organising your desk makes a phenomenal difference to how well you think. And how on top of things you feel.

2. Write down absolutely everything you have to do
One of the main reasons we get stressed as entrepreneurs is the sheer number of tasks we have to do weighs us down. This feeling is magnified when we are not absolutely sure what we should do. Take another ten minutes to get on paper every To Do you have – put your business tasks on one page and your personal tasks on another.

3. Prioritise your tasks
Put the number 1 next to your most important To Do. Then put a 2 next to your next most important, etc.  This creates a further level of clarity and calm as you realize that many of the jobs you may have been fretting about are just not that important. Usually only a few of your To Do’s really matter. Getting clear on the vital few makes a world of difference to your stress levels. This should take another 5 minutes.

4. Discipline yourself to work on the most important tasks first
This is not easy. Many of us pick the easy or fun tasks to do, particularly when we are stressed. If you can force yourself to work on each item on the list in accordance with the priority number you gave it, then you will find you will make huge progress quickly.

5. Avoid perfectionism at all costs
When you are overloaded with work don’t try to do every task perfectly. Just do every job to a 70 – 80% standard of excellence. That way you’ll get through the list in half the time. If you have some time left over at the end you can always go back and finesse some tasks, but generally in the business world you are better off getting more stuff done then doing a small number of jobs exceedingly well.

So the next time you are feeling overwhelmed with your workloads, resist the urge to just work harder and longer. Instead, stop working. Get clear. Get calm. Get direction. Then and only then get to work again. This simple 5 step clarity system will make a major difference to both your effectiveness and your happiness.

 

2 Minute Test For Entrepreneurs: Are You Hungry Enough?

I’ve met a lot of really successful entrepreneurs.

I’ve noticed that one trait they all share is a great hunger to create more, achieve more and get better.

But as you become more successful, hunger can give way to comfort, satisfaction and a slow and almost imperceptible lowering of standards.

Results then decline in alignment with this mental softening.

That’s why it makes sense to regularly put your hunger for excellence to the test.

Let’s do this now.

Take 2 minutes to answer these questions and see how hungry for entrepreneurial excellence you currently are…

BUSINESS HUNGER TEST

  1. Are you emotionally excited about your business?
  2. Are you always checking on what competitors are doing?
  3. Do you think about your business at night, when driving and in the shower?
  4. Are your goals for your company huge?
  5. Do you constantly push your staff to get things done better and faster?
  6. Do you eagerly study business courses and books?
  7. Do people marvel about your passion for your business?
  8. Do you have business heroes that you follow and learn from?
  9. Do you get to work early?
  10. Do you have a list of improvements you are itching to make to your company?
  11. Are you constantly dissatisfied with your company’s performance versus it’s potential?

Now look at your results. If you can’t answer Yes to at least 70% of these questions, I’ve got bad news for you: you ain’t hungry enough to make your business a super success.

The good news is that hunger can be cultivated its a choice, you can will yourself to be inspired about your company. And many have done so.

Make the commitment today to massively increase your hunger for entrepreneurial greatness. 

When you do you won’t just become a whole lot richer, you’ll become vastly happier too.

Business Lessons From A Stripper

Sometimes the fastest way to grow your business is not to add anything new.

But rather to strip away the old.

Old tactics. Old products. Old ways of thinking.

There’s power in reduction. Every element you strip away from your business allows you to focus more deeply on what is left.

It takes courage to throw out what you have. It’s so easy to stick with what you’re used to.

But when you regularly strip away the unnecessary and extraneous, you are left with a far fitter, leaner, more effective business.

With that in mind, here are some powerful questions to ask yourself, to help you strip away the clutter in your company’s strategy and operations:

  1. What products or services don’t make me much money or take a lot of time to deliver? What if I dropped them?
  2. Should I get rid of all clients that waste a lot of my time or don’t spend enough?
  3. Which staff aren’t excellent? Can I train them to be great or should I get rid of them?
  4. Which jobs in my company would be better outsourced?
  5. Which business relationships should I end or reduce time on?
  6. Which suppliers should be dropped?
  7. Which marketing methods should be cancelled or reduced?
  8. Should I change or drop my current brand/ company positioning?
  9. What office furniture, filing or administration materials should I throw out? 
  10. What ways of thinking or behaving no longer serve me and should be dropped?

Keep these questions so you can come back to them – every quarter is ideal. Strip away what’s not great regularly.

They’ll keep you and your business sharp, efficient, effective and profitable.

How Your Self-Image Affects Your Success in Business.

If you are frustrated with how fast your business is growing, take a look at how you are using your mind.

Have a think about how you think.

Specifically, examine your self-image – and whether it is putting a limit to the level of success you are reaching.

In 1960 a plastic surgeon, Dr Maxwell Maltz, published a book that was a total breakthrough at the time: ‘Psycho Cybernetics’.

Maltz was a plastic surgeon and noticed that many people’s issues with their looks were really just indications of how they thought about themselves inside.

From this discovery came a boom in studies about self-image psychology, which is still prevalent today.

The essence of the field is as follows:

  1. You have an image of yourself.
  2. You will usually perform in line with that self-image.
  3. If you start to perform above your self-image for a while, you will unconsciously sabotage that to return to the level of your self-image.
  4. Likewise, if you perform below your self-image for a while, you will soon take actions that bring your results back up in line with the person you believe yourself to be.
  5. Therefore the key to higher levels of success is to develop a higher, better self-image.

So how can this be applied to business success?

Well Maltz would suggest that if you want to achieve much more at work, you should do two things.

First, you should design a new image of yourself. (For example, more driven, more focused, more confident, more organized, more daring, more of a learner, unstoppable.)

Second, you should practice mentally ‘seeing’ yourself as that person, again and again, daily.

Now some may view this technique as dubious, but it is precisely this method that forms the core of today’s sports psychology training. The same mental training that has been shown in countless research studies to dramatically improve many athlete’s performances.

So if you’ve hit a wall with your company’s growth, give it a try. Develop a new version of you – with the personality traits that you would most like to have. Then twice a day, morning and night, spend 5 minutes imagining yourself to be that person. See and feel it as if it’s reality.

If you do this sincerely for a month, you will likely be astounded by how your performance and results improve. It borders on magic.

There’s a reason that Dr Maltz’s book is still in print 57 years later.

It works.

Important Business Advice From the World’s Second Richest Man.

Today it was announced that Jeff Bezos, the founder of Amazon, is now the world’s second richest person.

And exceedingly close to Bill Gates in wealth.

It seems an appropriate time then to look at how he runs his business – and what we can learn from it to help us run ours.

This month Bezos published a short explanation on what he’s currently focusing on when it comes to managing his company.

Here are the 4 key points…


1.True Customer Obsession.

Bezos says you can have one of 4 primary business focuses:

  1. Competitor focus
  2. Product focus
  3. Business model focus
  4. Customer focus.

In Jeff’s view, constant customer focus yields the best returns. Because customers are endlessly dissatisfied, a company that obsesses about it’s customers happiness is constantly lifting the quality of the experience bar and inventing new ways to please. Which together lead to superior results.

Question: are you customer focused enough?

2. Resist Proxies.

Basically Bezos argues that as a company grows bigger, people often focus on the mechanics of something rather than what those mechanics were designed to improve.

For example, companies become obsessed with doing processes correctly, rather than focusing on the end result of the process.

Or they rely too much on market research about what the customers want, rather than the inventing of new ways to please them.

Question: are you spending too much time on small picture detail and processes rather than big picture opportunities and rewards?

3. Embrace External Trends.

What’s happening in the wider business world that you can embrace more fully?

Obviously the digitization of the world is one external trend that Jeff Bezos has taken advantage of more than anyone else on the planet.

But currently he is focusing on the macro trend of machine learning- using the power of tech to analyse, to predict what a customer will want, to customize his service to their particular needs, etc

Question: what’s happening in your industry or indeed the world that you can take advantage of?

4. High Velocity Decision Making. 

To Bezos speed matters. Decisions should be made quickly in almost all cases.

Why? Because usually decisions can be reversed, so you’re better off deciding and then observing the result, then adapting quickly to it. Instead of waiting until you’ve thought it through to the nth degree.

On occasion, however, decisions are highly difficult to retreat from- in that case, Bezos argues, you need to think much more deeply before you decide. Fast decision making would be a mistake. But those situations are few.

Bezos has an interesting concept called ‘Disagree and Commit.’ In this case a group of people are totally honest about their disagreements, but then choose a direction and get behind it 100%.

(So much more effective than those companies where staff bitch and complain behind the scenes, saying “I told you so.”)

Questions: Are you deciding fast enough? Are you making enough decisions?

These 4 points are thought provoking definitely. But more than that, they can be totally company changing, if you have the guts to make them a core part of how you run your business.

Hey, with a net wealth of $75.6 billion, he may have a point 🙂

How A Few Minutes Thinking Can Make You Millions.

As an ambitious entrepreneur I know you are working extremely hard.

But are you thinking enough?

Sometimes we get so busy at work that we forget that taking time out to think can get us much better results.

Otherwise we can spend our lives climbing a ladder, only to find it’s leaning against the wrong wall.

If you are not growing your company as fast as you’d like, more hard work is probably not the solution.

You probably need a better strategy – and that can only come by reflecting on your current situation.

With that in mind, here are some questions to reflect on, that can potentially lead you in a much more successful direction…

  1. Are you clear on where you want your company to go?
  2. Are you going after the right audience?
  3. Are you aware of your what your personal strengths are?
  4. How could you spend more time each week using those strengths?
  5. Do you have the right team, and if not, who else do you need?
  6. Do you have a clear and effective marketing method to bring new customers in?
  7. Are you generally happy at work, and if not, how can you increase your happiness?
  8. Is your office organized, and if not what are 3 things you could do today to achieve that?
  9. Do you have a personal investment strategy?
  10. In what direction is your industry heading?
  11. Where do you want your company to be in 3 years from now?
  12. How could you lift your standards of excellence?
  13. What are the main constraints to your company’s growth?
  14. What could you do to massively increase your excitement about your company?
  15. Are you scheduling enough time to think each week?

These are powerful questions. And if you take the time to consider them deeply, you will be surprised and delighted where the answers will take you.

Constantly working is not the key to business success.

Constantly working on the right things is.

And that demands regular, deep reflection.

 

Want To Grow Your Business? Use The Power Ranger Method

Here’s an amazing and true story.

It’s the kind of story that makes any entrepreneur think about how they are growing their company and how they could it better.

It’s about Haim Saban, a guy who used to work producing music for the TV and Film industry in Hollywood.

Haim had an idea to do a TV show, based on a crazy Japanese show featuring weirdly dressed super heroes doing wacky things to solve crimes.

Very excited, he put together a major presentation and took it to all the TV studios during their season to look at potential new shows.

Everyone rejected it.

So Haim polished the concept and came back a year later.

All the studios rejected it again.

So he came back the next year. Rejected.

Then again the year after. Rejected.

Then the next 3 years in a row. And 3 more times the studios rejected his concept.

Think about this for a moment. How many people would even have persisted this far?

Very few of course.

But Haim Saban kept going and the next year, his eighth year trying, one TV studio said yes.

And that’s how the Power Rangers TV series was born. (And in the last month, a $100 million Power Rangers movie has also just been released).

And Haim Saban is now a billionaire.

Now you may not be in his industry, but all of us entrepreneurs can learn a lot about business from Haim.

Keep persisting, keep refining, and keep believing.

The Power Of Time Compression

As an entrepreneur you are always super short on time.

There are always too many meetings, staff requests, proposals and general things to do. And it never ends.

That’s why it’s absolutely crucial that you become truly superb at time management and productivity.

I’ve spent over 30 years studying business productivity and today I’d like to show you one of the techniques that has helped me the most.

You can discover it in this short video

 

 

Use this one technique all day long and you could quite feasibly achieve 50% more than you are currently doing. Perhaps even more.

It’s a total game changer.

If you’re committed to being ultra-productive in business, you are going to love this time management method. Check it out here