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Archive for the ‘Cash Flow’ Category

Automating your client acquisitions can facilitate sales 24/7.

Do you have a system, automated or otherwise that helps you to generate your sales? Or is it more like a haphazard combination of luck and personal contacts? Do you go by the belief that it’s being at the right place at the right time, or knowing the right person? Is your sales strategy kind of random where you simply follow whatever opportunity or lead comes your way? And is there not a smarter way you could be working?

Let your Business work for you

Mary is a client of mine that had been putting a lot of personal effort into her business. She was frustrated because it just seemed like a lot of hard work for very little reward. Then she heard about a workshop I was running on building an information empire and signed up for it. She was sold on the idea of making your business work for you and getting sales in, even when you’re out of the office.

Following the workshop Mary was diligent about developing a website and products that she could sell online. When I interviewed her on one of my teleseminars,  I asked her what the best part of her business was. What did she enjoy the most? She said that she had to admit it was seeing the sales come in. Knowing that whether she was sleeping, away on holiday or busy writing her next newsletter, sales were still being made. She didn’t need to be there actively doing the selling. Her client acquisitions could happen automatically.

Mary still recalls the morning when her first sales came through. When she switched on her computer for the day, there they were, already in her inbox and the money was in the bank. Those client acquisitions had happened while she was sleeping and enjoying breakfast with her family. For me automated client acquisitions are an integral part of my business. I know that while I am on a workshop, consulting with clients or even on an aeroplane heading somewhere, the sales are still coming in. And this is all made possible by having systems in place so that my business works for me.

Why Automate your Client Acquisitions?

•    The more systems you have in place, the more your time is freed up to focus on what you love doing. You are not tied down to your business.

•    To enjoy business success you need a steady stream of sales coming in on a daily, weekly and monthly basis. It makes sense therefore to automate part of the process.

•    Automating your client acquisitions means that you can serve more clients more effectively with less effort, and make more money in the process.
•    Automating your client acquisitions allows you to be more competitive in the corporate market.

Putting systems in place is an integral part of creating an information empire. It is effective systems that will help you achieve your goal of making more money with less effort. Automating your client acquisitions can facilitate sales 24/7 so that it is your business working for you, instead of you working for your business.

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Many entrepreneurs, small business owners and other professionals find themselves focused on earning an income, finding new clients and the day-to-day struggle to survive.  Having enough income and cashflow to grow your business rapidly is not an uncommon problem.  I often hear people talking about their expected income for the next day, weeks or months ahead.  They focus on knowing where the next paycheck is coming from because they don’t have enough confidence in their existing client base or cashflow.   They fear their income will dry up.

Have you ever felt like that?  If that sounds like you, then it’s time to STOP focusing on your income.  It’s time to start focusing on a long-term plan for success and diversification.  But how?  How do you free yourself from the day-to-day financial worry and really start to thrive?

The answer simply lies in starting your own high-end coaching program.   A high-end coaching programme (when designed and delivered the right way) will provide enough guaranteed revenue to enable you to stop worrying about money and be free to focus on your long-term success!

This is how the strategy works …

Sell Once a Year to Generate Guaranteed Revenue

• With your high-end coaching programme, if you market and sell the right way, you will only need to focus on the selling once and then you’re done for the year.

• Create a program with a limited number of spots, and you’ll only have to sell long enough to fill those spots and then you can focus on serving your clients and creating alternate revenue streams.

• Create a program with a fixed time limit, such as my annual programme, and you only have to sell those spots once per year. Then you’ve got the commitment for the income, and you’re free to focus on other areas of your business. No more worrying month-to-month whether you’ll have enough cash for next month; with a high-end coaching program, you can earn enough money to free yourself up for other pursuits.

Free Yourself Up to Look at the Big Picture

One of the biggest benefits for you and your business of creating a high-end coaching program is freeing yourself up to look at the big picture. If you’re like most people, you spend countless hours per week working on finding enough business, and the rest of your time goes to satisfying your existing clients. You never have time to think about the long-term plans for your business, or how to diversify your revenue streams.

Once you have the committed income of a high-end coaching program, you can stop spending so much of your time selling yourself and your services because you have a guaranteed revenue stream. Instead, you can focus on creating the other steps to achieve success in your business, and put together a long-term plan for your business!

In order to truly become successful in your own business, you’ve got to stop focusing on immediate income so you can begin to build a road map for long-term success.   Worrying about your day-to-day income is short-term thinking and can seriously hamper your long-term business success. When you start a high-end coaching program, you get financial commitments for a large portion of your revenue and begin looking at other ways to improve your business success.

So if you want to see an end to your day-to-day financial struggles and the beginning of long-term success, it’s time to start your high-end coaching programme!

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

How much money do you want to make this year?

If you’ve answered this question with a round number, like, $100,000, or $1,000,000, or an, “I don’t know,” you don’t have a goal, you have a wish.  It’s imperative that you know your goal income numbers, specifically.  You must know how much you have to net today, this week, and this month in order to land the yearly salary that will support the lifestyle that you desire.

Here are some get-specific Millionaire Mindset methods:

• What would you like to do in the next year? Move?  Take your dream vacation?  Send a child to college?  Hire someone to manage all of that stuff for you?  Or make it possible for your spouse to leave his or her job to come to work for you?

Don’t forget the smaller costs that go along with each large goal, like the cost of providing your newest employee with a company car and fringe benefits, travel costs, tuition, and your existing lifestyle costs.  Don’t estimate.  Make phone calls.  Get current pricing on airfare, college tuition, health care, or whatever bills you’ll have to foot.  Write it down…you’re going to need it.

• Now that you’ve done the addition, do the division. Break out the calculator and find out how much you’ll need to net in a month, a week, and a day.  This will give you a manageable and reachable goal path.

Lots of people say they want to be millionaires.  But if you ask them how much they need to make this afternoon to stay on track for that wish, you’ll likely be met with a dumbfounded look.  Once this step is completed, you will be distinctly separate from those with a wishing frame of mind.

• Challenge yourself in the pursuit of your income goal. If that means working an extra 30 minutes to meet your daily income goal, do it.  If that means negotiating on a deal, even if you’re not comfortable with negotiation, then do it.

When you know how much money you need to earn this week, in pursuit of the big goal, you’ll be encouraged to do the things that aren’t so desirable.  Every time you challenge the boundaries of your comfort zone, those boundaries will soften, and your comfort zone will grow.

A goal like, “I want to make a million bucks this year,” will never incite you to rewrite an email or to hold firm on your retail price for an item.  But if your goal is, “I need to clear another $50 today to stay on track,” you’ll push right through, because you will connect those little tasks with your big goals for yourself, your family, and your lifestyle.

• Successful business people always know their numbers. They rifle off their conversion rates, costs, costs of sale, and precise percentage profits.  Businesspeople who don’t know are probably losing money.

• If the thought of calculating, relating to, or speaking about numbers frightens you, then hire a business manager to do it for you.  Investing all of your energy in working in your business, without working on your business, will be detrimental to your income goal.

• The numbers might be simple now, but if your goal is to make a million dollars, or any other impressive number, you’ll have to expect the money flow, in both directions, to become more complicated.  Adopt a know-your-numbers attitude now, rather than jumping into a sea of number soup when your chances of drowning are high.

In short, know how much money you need to make.  Then know how much money you need to make this week in order to reach that goal.  Name it, and then claim it!

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

You see an advertisement for a high-priced training course that you know would fill in a lot of business blanks for you.  You know that this course covers exactly what you need to know to move your business to the next level.  Will you decide to sign up for the course or will you pass by?  How do you decide if you will attend or not?  Will your decision be based on your current income or the income you can realize once you have that training under your belt?

More important than the answer to this question is the thinking that you used to arrive at your answers.  Did you think, “My current income won’t support a payment like that.  I’m going to have to pass”?  If you did, you’re making decisions based on your current circumstances, and if you continue to limit yourself that way, you’ll severely cripple your ability to grow to the great potential that is within you.

In order to grow and reach our true potential, you must change your current mindset. Any time a threshold is to be crossed (in this case, a monetary one), a change in thinking must occur.  If you can manage to set yourself on the right course, some of those changes will happen naturally, while others will have to be consciously changed in order to get results.

One of those changes is in the way that you make decisions.

Another working example might be an investment in your business.  What if you meet a dynamic systems expert, whom you know would be able to streamline your business operations so that you can concentrate on making the money that you’ll need to promote the lifestyle you desire?  But, what if the fee for that expert is $25,000 – money that you don’t have lying around, just waiting to be spent?

Here’s the question you might ask:  “Will I invest the money, or not?”  But here’s the real decision:  Will you view the $25,000 through the lens of your current situation, or through the lens of your ideal destination?  Even though you would rather not spend the money now, how will it compare to the $1,000,000 you’d like to make this year?

That puts things into perspective, doesn’t it?

Those who continue, time after time, to make decisions based on their current circumstances are often saying “No” to themselves.
In order to make decisions based on your destination, you need to venture outside of the boundaries of your comfort zone. As difficult as this can seem, no progress can be made without doing so.  If you make an investment that you might be uncomfortable with, based on the future, as opposed to the present, you will work harder to make sure that the investment will work for your business.  In other words, that step outside of your comfort zone moves you along the path to your goal more quickly.

Your current circumstance is the direct result of decisions that you’ve made.  If you’re not in your ideal situation, that simply means that you have made some poor decisions; but that doesn’t mean that you can’t change your thinking and look to the future – starting right now.

So what will it be?  Current situation or ideal destination?

Would you rather be paid for your teleseminar, or give it away for free?  At first blush, your answer, of course, would be, “Get paid.”  But I must admit, I’ve presented you with a bit of a trick question.

The truth is that whether you ask for money for participation in your teleseminar, or you offer spaces at no charge, you can still harness money-making power.  A paid teleseminar will deliver up-front revenue, but free teleseminars also hold possibilities for making money:  from the subsequent selling of transcripts, recordings, packages, articles, e-books, newsletters and print books.

A common misconception is that people will jump on a free teleseminar just because it’s free; that sending out an email announcing it is enough to get participants – Not True.  If people view their time as more valuable than what you’re offering, they won’t set aside an hour to participate, even if it doesn’t cost them a penny.  For this reason, it’s important to realize that filling the phone line for a free teleseminar takes just as much effort as filling the line for a paid one.

When you use the word “free,” it’s important to put specifications on that freedom.  If a teleseminar is free to everyone, people might assume that it has little or no value.  But, if you make it free to members of a certain group (newsletter subscribers, new clients, current clients, members of your club, etc.), those people will see that they have earned the right to partake in its value.

It’s important to assign a value to every teleseminar, whether there’s a price tag or not.  Maybe participants are getting it at a discount, or maybe it’s free only to select people.  Either way, let them know what they would have paid.  This increases the call’s perceived value.

The free teleseminar has its advantages and its disadvantages. It’s up to you to allow its advantages to work for you.   Here a few pros and cons that might help you to find that balance:

Free Teleseminar Pros

• As long as the topic is exactly what they’ve been hoping for, people will be more likely to “invest” in a free call.

•  If the free call is marketed to members of a certain group, they will feel more inclined to partake in something they’ve earned.

• The law of reciprocity boosts your chances of selling post-teleseminar transcripts, recording, e-books, etc.

Free Teleseminar Cons

• If you don’t market the free teleseminar effectively, it could be dismissed as having little or no value, because it’s free.

• If you offer too many free teleseminars, you could find yourself being taken advantage of, for your free advice.

• Participants might not be serious about the topic, reducing your chances of post-teleseminar sales.  They might say, “It’s free.  I’ll take advantage of it,” and that will be the end of their commitment.

It’s also important to avoid making every teleseminar a paid-participation one.  It won’t be long before your audience is protesting (silently or audibly) that they never get anything for free.

To avoid finding yourself at either extreme of the free/paid teleseminar spectrum, it’s a good idea to offer a mixture of both free and paid.  This will prevent you from being taken advantage of, and it will keep your audience happy with occasional “free gems.”

Free isn’t a bad word.  In fact, it’s the root of freedom…which is at the heart of financial freedom.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Looking for an opportunity to shine from the depths of the direct mail slush pile?

Though it might sound a bit cliché, everyone, even those of you who feel encumbered by a limited budget or a relatively small business volume, can do that.  Whether you’re sending out 10 pieces of mail per week, or 1,000 pieces, you can not only entice people to open your mail, but you can keep their attention with a creative, lumpy insert.

Maybe you have, at times, felt intimidated by the “big boys” – the companies who have thousands or millions of dollars to spend on direct mailing.  But, despite what you might have come to believe about these huge corporations, you actually have an advantage over them for creative direct mailing.  If you have an inventive idea for lumpy mail, you don’t have to sit in countless meetings with marketing committees, pitching your idea, enduring criticism, and perhaps, ultimately, having your idea shot down.  You are your final decision maker.

When you’re creative with your lump mail insert, you can spur your recipients to action.  Here are few examples to stimulate your imagination:

• If you’re intent on helping companies and individuals to find their own hidden treasures, you might consider including an old-fashioned scrolled treasure map with your promotional letter.

• If you consider a message to be of the utmost importance, you might want to stuff it into a bottle before mailing it.

• If you’re hoping to entice inactive customers to fall back in love with your company, you might insert a boomerang with a message like, “Boomerangs always come back, don’t they?”

• If your company has a mascot, you can have a lovable likeness of him or her reproduced as a lump.

• If your company helps people to find resources, for instance, you might want to include an ornamental needle-in-a-haystack.

• A complete comprehensive service might be accompanied by a small, silver platter and the statement, “I’ll give you everything you need for start-up on a silver platter.”

• Fortune cookies can be purchased, complete with customized messages inside, that deal specifically with your purpose or promotion.

If you’re stumped for lump ideas, there are resources that can help.  Two examples are www.LumpyMail.com and www.ImpactProductsMarketing.com.  There, you’ll find lots of creative ideas for lumps.  Maybe you want to announce a promotion, invite inactive customers back to the fold, broadcast an upcoming campaign, publicize a grand opening, or announce a new product or service.

Simply using bulk to create a piece of lumpy mail will, indeed, prompt people to open the envelope, but if you want to stay with them for longer than it takes to empty your promotional pen of ink, or to use that pad of custom sticky notes, you’ll want to put some innovative thought into your lumpy insert.

Make your mail memorable with creative lumps…because when your lump is specific to your purpose, and unlike any other lump, it deems you memorable, worthy of the call or the click, and the investment.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Can you envision yourself making $500,000?

I don’t mean imagining that you’ve won the lottery. Can you actually see yourself earning $500,000?

If you set a goal that is believable for you, you’ll not only realize that goal, but as you break through it, even more will become possible for you.

If you can’t envision such a high number and think it’s beyond your reach, don’t set your sights on that number straight off. Doing this will just cause a disconnect between what you want and what you think you can make. You will be starting out with a limiting belief.

I worked with a mentor who shared a story about his wife. She worked for an insurance company as a sales manager, making $29,000 a year. When he asked her if she could see herself making $100,000, she said “no.” When he backed down that number to $50,000, she said, “yes.”

Once she settled on that amount, which felt reasonable and comfortable, she not only achieved it, she far exceeded it. By the end of the year, she had made $499,000.

The important point is that she started out with a vision she could believe in.

What do you truly believe is possible for yourself?  Follow these steps to set believable goals that you can achieve.

Step One
Pick a number that’s a stretch from where you’ve been before, but one that you can actually believe in. If you go too far in the other direction, and begin with a very high number, you will stall out. Your non-belief in making that money will be stronger than your belief in getting it.

Step Two
Start where your belief system is. If the most you’ve ever made is $30,000, stretch that number to the very edge of what you can actually see yourself making.

Step Three
Honor small advances. If you only see a $5,000 or $10,000 increase, that’s fine. Start there. As you make that little advance, you will increase your belief system in many different areas and rapidly advance that number.

Step Four
Once you make that little jump of $5,000 or $10,000, not only do you see yourself make it, but you start to believe in the whole process. When you actually believe in the process, it will have an expansive effect on you. Now you are able to see that this can go anywhere.

You will open yourself up to what is actually possible and really start believing it. That’s when you will take off.

Your ability to make that higher end income is really about knowing where you are in what you believe. Not only will you set believable goals, you will be successful in achieving them, and in surpassing them as well.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Are you setting your goals according to what you truly want or what you think you should get?

There’s a very big difference between those two. If you’re only setting your goals according to what you think you should get, you are probably missing out on so much potential for your business.

Here’s one way you can figure out if you’re setting your goals too low. If I were to sit down with you in a coaching session and ask, “Tell me how much money you want to make this year,” how would you respond?

If your answer is vague or your answer is more in the form of a question, your goals are more in line with what you think you should get rather than what you want to make.

When you set a vision for your business, get this kind of thinking completely out of your head. The potential for your business is so far greater than you could perceive if you’re only looking at it from what you think you can do or what you think you have to do.

One way to avoid getting caught up in this mess is to do projects that you want to do; not projects that you think you should do because they might be the right way to launch a program or sell something.

Doing business this way will afford you the life you think you should have – living in a moderate home, making good money while working 6 days a week, always thinking about but rarely going on a real vacation.

Your goals have to be based around what you truly want. When you truly want something, you have what is referred to in Think and Grow Rich as a burning desire. If you don’t have a burning desire to achieve your goals, it is not going to be enough.

Here’s why that burning desire is so important. When you’re setting after something that you haven’t had previously – something that is a big, daring goal for you – you’re going to hit challenges. You’re going to hit obstacles because anything you want and don’t have is outside of your comfort zone.

On your way to achieving the things that are outside of your comfort zone, you’re going to be stretched. That’s the moment when you will be most tempted to give up, unless you have a really strong burning desire.

This desire, that yearning for something more, is like your higher mind calling you to your true potential.

So, when you’re setting your goals – both revenue goals and lifestyle goals – consider what it is that you truly want.

The bigger house? The 3-day work-week? The 3-month dream vacation?

If these are the goals you truly want, set them. Once you name what you want to achieve, once you know what is your burning desire, we can figure out a way for you to achieve it.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

It’s a lot easier to turn a ship that’s moving in the wrong direction than it is to turn a ship that’s not moving at all.

If you’ve been getting “analysis paralysis”, scratching your head and trying to figure out what your direction is, just pick a purpose and start heading toward it. If you’re off course, the market will correct you.

If you’re not heading in the right direction, the market will quickly give you feedback that will help you adjust. Just don’t get overly concerned that what you decide today is going to be cast in stone.

Don’t worry about picking the wrong area or niche at first. Don’t worry if you find that you’re being called an expert on something that you don’t want to be known as the expert on.

Areas of expertise can change. But you can only change your direction if you have already set out in one to begin with.

Bob Burg is the author of a book called “Endless Referrals.” He is now positioned as a referral expert and an expert on helping people to generate referrals for business.

When he first started out, his niche was memory experts. He noticed that people who took his memory courses wanted to improve their memory to remember the names of people they’d met at networking meetings and events. They wanted to improve their memory to achieve better business results.

As he spotted that connection, he started to focus more on being the referral expert. No one accused him of being a fraud because he was now a referral expert instead of a memory expert. The market let him know in which direction to steer his business.

When you set course in your chosen direction, look for niches and markets where it’s going to be easier for you to establish personal relationships and position yourself as an expert.

If the niche you do choose turns out to be an enormous amount of effort, you have to weigh whether or not it’s worth your while to continue down that road or take a different road to get business.

When Dan Kennedy, the marketing expert, was invited to submit a proposal to give a speech in Switzerland, he opted out. While plenty of other people would jump at the opportunity, and spend a day putting together a proposal to bid, that is not the way he wants to go after business. Perhaps it didn’t seem worthwhile to spend the time writing the proposal. The point is that you have to make the determination of how you want to do business.

Your niche will evolve with your business. It’s an actual evolution that happens in most any business. Look at my own situation. I started out as specializing, by trial and error, as a cold calling expert. But I didn’t stop at that. Today, I’m teaching people how to find new business and triple their income! The way in which I’m helping people and the types of people I’m helping is completely different from what I started out with.

But it’s turned out for the best for everyone!

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

Many people don’t use their business potential to the full. It is relatively easy to focus on your every-day business; the sales and marketing, the product or service; and forget that you can leverage your business to perform far more than simple day-to-day operations.

If you’re ready to turn your business into a serious money-making venture, it’s time to think about hosting a Big Pay Day live event. Hosting a live event and turning it into a Big Pay Day is a perfect way to boost your revenue, increase your income and turn your business acumen into big dollars!

How do you monetize your event, and how do you create the opportunity to service your clients better and increase your earning capacity? Let me share a few of my secrets with you …

1. Launch a new product or service. You can also use your event to launch a new product or service for your existing business. If you’re creating a new product line or have new services to offer your clients, launching them at your event is the perfect time to introduce the products and generate buzz.

2. Launch a high-end coaching program. Your Big Pay Day Event is the perfect time to launch a high-end coaching program. You’re hosting an event because you are an expert in your niche. You could be sharing your expertise about your business field, or sharing the keys to your personal success. Use your event to share your expertise, and then launch a high-end coaching program to help attendees achieve their own success. It’s a great way to monetize your knowledge.

3. Turn your event into a product. Don’t forget that you can turn your event itself into a product. Take video of your event and launch a series of DVDs, or take the written materials from event and turn it into a book. Be creative, and think of ways in which you can share your event in the form of a new product.

4. Build your reputation in the industry. Building your reputation in the industry gives you two benefits: you can boost your existing business, and you gain the leverage you need to launch new products and services. While building your reputation in the industry might not yield direct revenue, it can lead to the acquisition of new clients, as well as creating additional business with existing clients.

Decide How to Monetize YOUR Event
When you’re considering hosting an event, think about how you will monetize it. You can use any one of these strategies, or a combination of strategies, to yield revenue far beyond the registration fees you’re charging people to attend your event. Start with one of these strategies and build on it, depending on what you have to offer and the resources you can leverage while you’re planning the event. Think about your business plan and your business goals. Ensure your strategies are consistent with helping you achieve your goals and your BIG PAY DAY!

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com