How to Become a Successful Business Owner
The successful business owner has one common theme; they are never satisfied with sales levels. Whether they are making $10,000 a year or $1 million a year there is always an opportunity for more growth.
Expansion only comes when you recognize it can take place. You will not grow if you are comfortable where you are or when you can’t see a future for potential growth.
So here are three uncomplicated ways that you can convert your business from the level it’s at now, into a profit building machine, if its not already there.
- Always track statistics
This may seem obvious, but most people never do it. You should always track and gather as much information as possible. Use the information at your disposal to track your customers, their purchases, the frequency of their visits and all the non-buying prospects.
Furthermore monitor the amount of purchases they may make and how you might be able to help with any other purchases. And always keep evaluating the market you’re in.
This data is invaluable. It will enable you to keep informed and up to date as to how you spend your marketing dollar and where you can increase production or improve the quality of your service. And therefore be in a position to either reach a larger audience or similarly provide a better service or product for your existing customers.
- Find people you can trust
For my websites I have one person that works for me full time . She is responsible for the SEO, website graphics and social media aspects of the business that helps to drive traffic to my websites. She also researches current trends and market movements that can be applied to our sites
You definitely need people you can trust. These people may be your managers, family members, or just friends who can help you when you need assistance. However they must be trustworthy.
- Develop your passion
It is easy to get over-involved when it’s your business. Avoid being in the fray of customer service and reaching deadlines if you can. The most productive time for a business owner is always when you’re outside of the business environment. Use this time away from your business to revitalize your passion and re-evaluate your goals.
Remember the next time you are feeling that something is not doable for your business, keep in mind these 3 easy tips and put them into practice!
Now that you believe your business will succeed let’s look at the marketing aspects of your business that will hopefully guarantee its success.
3 High-Impact Fixes for Your Marketing
How many times have you had the feeling of being left behind? The problem is that we often feel that we’ve got to come up with some grand plan in order to get our business skyrocketing.
However, getting back on top of the market isn’t as tough as it seems and with these high-impact, simple to use remedies you can reach your goals.
- The Magic Number – 1
Put into practice a “advertise 1 item at a time” maxim for your advertising strategy. That doesn’t mean you can’t SELL more than one item at a time! Just wait until AFTER the original sale is done and then sell more.
For example, when a customer sees more than one of a product offered at unbelievably low prices, he can feel confused. Which one is the best deal? Which one should he favor?
These questions encourage procrastination – one of marketing’s greatest stolen opportunities.
As an alternative, offer the customer a product that compliments his original purchase. You’ll make extra profits instead of losing a sale. In online marketing terms it’s called an up sell. The original product works better if it has this product to go with it and so forth.
- Outsmart Your Competitors
Your competition is looking for you in all of the usual places. So why not look for new methods of advertising and new markets to target and grow in.
Niche markets provide the perfect tactic for reaching new clientele. The key to this is, sub-dividing your current market into smaller, more specific targeted markets. Familiarize yourself with the needs and concerns of your particular market, and then promote yourself as an authority in this field.
Decimate your competition with the strength of new prospects that will come your way. Simply by looking outside the square and seeing what is available. Use your imagination and expand your ideas on what your market really is and what it could be.
- Encourage Communication
Communication is critical to understanding the traits and behavior your customers. Encourage questions before the sale, during the sale and after the sale. Make it easy and as relaxed as possible for them to make their decision.
Make them feel extra important in the whole sale process. You may be surprised by the value they will give you in return.
Provide convenient contact information on all of your sales materials, which should included on your website. If you find yourself overloaded with questions, create a frequently asked question page where clients can get the answers they need without claiming a huge amount of your time.
Confused customers, hard-hitting competitors and communication disasters won’t take profits from your account when you fix things these up.
The next item to cover that will ensure good sales and convert prospective customers is writing a great sales letter.
Write a Riveting Sales Letter
How do you get people’s attention and build their interest to take the time to read your sales letter?
To be honest if you can’t get the attention of prospects and keep their interest, your sales letter will just fall flat and as a consequence fail to make you money.
Here is how to take that poorly written sales letter and inject some money making power into it.
You can make your sales letter more riveting by creating a thread of curiosity throughout and having some surprising information that keeps your prospects on the edge. There are various ways to do this; here again are three simple copy writing effects you can do right away to make your sales letter more fascinating.
- The 25% Rule:
Simply stated, if the first quarter of your sales letter isn’t absolutely compelling and interesting enough your sales letter will definitely flop. So here’s what you can do.
You craft an irresistible benefit loaded headline and sub headline that draw people into the first sentence of your body copy. You write the copy in such a way that to complete the thought pattern actually compels your audience to read the next sentence.
Next, your first paragraph should naturally flow into the second paragraph and then into the third and so on. The strategy again, is to write the copy in such a way that you’re using stories, case histories, testimonials, current news or even descriptions that take several paragraphs to write.
Then you break this massive block of copy up into multiple paragraphs. As a result, the first 25% of your sales letter should become riveting.
- Sentence Finishers:
At the end of each key paragraph you add a special sentence that summons your prospects to read into the next paragraph. Here are several examples:
“Stay with me.” “Let me explain.” There’s more.” “What happened next will surprise you.” “I was blown away by what happened next.” “Now here comes the good part.”
These are all great sentence finishers which will help you engage with your prospects for longer. And the longer a prospect stays with you the greater the chance of you making a sale.
Have you ever noticed on talk radio or on various news programs that the broadcaster or radio host will give you a preview of what’s to come next in their show in order to whet your appetite to know more? And to stay watching longer!
You can do the same thing throughout your sales letter. Note this technique is closely related to sentence finishers. Here are a few examples.
“As you read on, you’re about to discover how XXX can increase your sales by 30% to 400% in just 7 days.”
“I’m going to reveal my magic metabolism secrets that can peel off 20 lbs within 30 days time.
“In the next 5 minutes as you read every word of this letter, you will know the 7 secrets to exploding your online profits without paying a single dime in advertising costs.”
“By the time you finish reading this eye-opening letter you will know how to take these three fighting techniques and stop any attacker foolish enough to get in your face.”
Here’s the main purpose for doing this. You must keep your prospects centred on your sales message. If your sales letter is like most people’s sale letters – boring – no prospect will take the time to read it and as a result you won’t get sales.
Use these three methods and try creating some of your own copy to keep your reader focused and riveted on what you’ve written. Build suspense in your sales letter. Do this and you should see your sales increase.
It is so important to practice these techniques before you send your sales letter out to your prospective clientele. The more your practice and proofread your copy the better you will be.
The business owner will do these things to ensure their success.
They always track their statistics; they have people around them that they can trust. They use their spare time away from business to re-energize their passion and re-evaluate their goals.
They utilize advertising strategies to up sell to your customers. And by looking for new methods of advertising and new markets to target they outsmart their competition.
They understand that communication is critical to understanding their customers and building a relationship with them is vital. Once they get the feeling that you have their best interests at heart their loyalty to you will increase.
They are much more likely to tell friends and family about you now than at any other time.
Your advertising must be riveting. And you do that by creating curiosity and using surprising information that keeps your prospects interested in your product and or service.
Keep your prospects focused on your sales message and then watch your profits grow.
By using all or even some of these strategies to enhance your business, the potential for success is high.
And this is what a business owner does to become successful.