Tag Archives: Profit Improvement

What’s Slowing YOUR Progress…

You’re procrastinating. 

Right now, probably.  

Me too. I started the day with a worthy goal. A proper plan. I was going to spend the whole day working ON my business. No distractions. Diary clear. Staff briefed.  

But there’s a problem. A big problem.  

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The Two Things As A Business Owner You Must Protect or Risk Failing…

It’s incredibly hard being an entrepreneur.

Anyone that pretends it’s easy, and that riches beyond your dreams are there for the taking is a charlatan. Getting even a single additional customer can often be the damned hardest thing.

Which is why you need a fortress. Not one formed from stone with flags on the battlements. No, you need a fortress to protect TWO THINGS:

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The Correct Way To Tie Your Shoelaces And Grow Your Business

Business Success I wanted to share a three-minute video with you today about the correct way to tie your shoelaces.

Now, I can just see the look on your face right now – you’re probably wondering whether I’ve finally gone and lost my marbles but stick with me a second.

It turns out that there’s a ‘weak’ form of the knot we usually tie our laces in and a ‘strong’ one.  You’ll have to watch the video to find out which you produce (!) – but the reason I wanted to share the video with you isn’t because I’ve suddenly developed a fascination with shoes or shoelaces.

It’s the last line the presenter Terry Moore delivers.  He says, ‘Sometimes a small advantage some place in life can yield tremendous results someplace else’.

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The Closest You’ll Get to a Silver Bullet in Business

Big changes in business happen through careful thinking.Silver bullet for business

Big change comes from knowing what you want to achieve and why and how you want it to happen; making conscious decisions and then driving through the implementation.

Big change doesn’t happen through procrastination or New Year’s resolutions.

Right across the country ‘normal’ people began this year with the intention of sticking to a resolution or two. Most would have been broken by February. That’s because too many resolutions are based on what people think they should be doing rather than what they actually want to be doing. Sure, they’re well-intentioned but the result is they’re not 100% committed; not thought through and they fall at the first hurdle.

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Are You Sure You’re Charging Enough?

Where your pricing sits is an indicator of how good you are, average pricing? You’re are average, well you’re Price Increaseprobably not but that’s what people perception will be, and price perception is key.A recent story showed that the majority of people can’t tell the difference between expensive and cheap bottles of wine.

In an episode of ‘Observatory’ on the hit YouTube channel ‘Vox’, 100 people tasted three bottles of wine priced at $8, $14 and $43 respectively.After a series of questions, tasters rated the least expensive and the most expensive exactly the same. Which begs the question, what’s the point in buying expensive wine when, taste-wise, you’re likely to get a similar experience to cheaper alternatives?

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Why Organic Growth Can Be Dangerous

Bombshell Alert Ever heard the saying ‘nothing worth doing is ever easy’? Bombshell alert – if building a business was easy, everyone would do it. It takes a certain amount of courage to become financially responsible for yourself, and it takes even more courage to be disciplined enough to do the things that others aren’t willing to do now, to secure your financial future.

And if you’re employing staff, you’re financially responsible for them too. Their mortgages rely on your business and your decisions. If you haven’t already been through tough times, you’ll probably be in for some, whether its challenges with cash flow, waiting on decisions from others as to whether you get that dream client, or just plain and simply being let down by people.

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Principle Number Six To Getting Better Results

Once we make a choice we encountered personal and interpersonal pressure to behave consistently with what we have previously said or done, so it’s all about being consistent with yourself.

In America in quite a well off suburb a group of researchers went down the street knocking on doors asking if they could put up a large placard in the front gardens requesting people to drive carefully, out of hundred people 17 agreed.

In an adjacent street researchers again went down the street but this time they were asking for people to sign a petition to get people to drive more carefully in the street, to which the majority of people agreed to do. Once they’d signed the petition the researcher then gave them a small card version of the placard and asked them if they replace it in their windows to show their support, to which the people readily agreed.

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Principle Number Five To Getting Better Results

If people aren’t motivated to take action, then scarcity is one of the principles you can employ to get people to take action as opportunities appear more valuable when they are rare. Fear of loss will drive people to act, in a home energy study, people were contacted to tell them how much they would save per month if they were to take up a grant paying for home insulation.

When they changed it from savings per month to how much people would lose per month if they didn’t take up the offer there was a 150% increase in the uptake.

Boss music systems introduced their new Boss Wave Music System, the system itself was way ahead of anything that produced before and had the critics raving about it, Boss produced a leaflet about the system and at the very top of the leaflet with the words  “NEW” the Boss Wave System.

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Principle Number Two To Getting Better Results

LikingGetting people to like you is another way of building relationships, the activators for liking are similarity, praise and cooperation.

There’s a story about a large US company who were acquiring a lot of the businesses through purchase, this required the CEO of the company to negotiate with the owners of the companies he was buying. The chairman of the CEO thought that the negotiation processes were taking a bit long and suspected that the CEO was the issue.

Robert Cialdini was called in by the chairman to see if he could do anything to speed up the process, Cialdini watched some videos of the CEO in the negotiation process.It became apparent that he was a bit aloof and not very engaging with the person he was buying the business from.

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Principle Number Four To Getting Better Results

ConsensusAnother principal for overcoming uncertainty is consensus.

People look for what other people feel think and do, and the amplifiers for this are many others doing it or similar others doing it. This is why it’s so important to get testimonials from your clients and put those testimonials in front of people like them, think about trip advisor, reviews remove uncertainty.

Shopping channels in America are big business, and one fitness device broke all sales records selling nearly a quarter of a million units, a big part of the success was switching how they encourage people to call in.

Instead of saying the usual are operators are waiting for your calls, they switched it to if the lines are busy please call back, insinuating that lots of other people were calling in.

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