Tag Archives: UK

Put Up Prices or Live in Fear

Want More Profits? Put Up Prices

You want to make more money? Put up prices, now you’re sitting there thinking, well that’s easy for you to say,

Put Up Prices

Put Up Your Prices

in my business “insert all your excuses here please”. The only person standing in your way of making more money is you. Although if you’re getting customers off the back of being the cheapest, I’d seriously think about changing your positioning, 20% of the population buy on price alone and they’ll leave you for someone doing it for 50p cheaper, it’s a really difficult business model to sustain, and very crowded, whereas if you look at the high end it’s a lot less crowed and the rewards are far greater.

Put Up Prices or Let Fear Dictate Your Lifestyle

The amount of clients I have, who when they first start working with me, are doing a great job, delivering what the customer wants and not charging enough is shocking, take a look at what some of your competition is charging if you don’t believe me. I bet there charging more and not doing such a great job as you.

I’m not saying that you go to your existing customers and triple your rates, but potentially you could with your new customers. And as long as you inform your existing clients that prices are going up (a bit not tripled) there shouldn’t be a problem

Its all about how you position yourself and educating your clients so they see the value you bring, there’s a few other things that will happen too

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Want More New Customers? Examine Your Sales Process

Get More New Customers by Increasing Your Conversion Rate

SAles Process to get New Customers

I’ve written before about how people who say they want more new customers focus on the wrong thing – what they actually need is more leads, and to convert those leads into customers.

So how do you increase your conversion rates? Well, you have to start by knowing your numbers. How many new leads are you actually getting? And how many of these are being converted? It’s also critical that you have a sales process, so that you know exactly what your customer journey is

You must also script each part of the process so that you don’t miss out anything. This will also stop you getting tongue-tied and increase your conversion rate because you’ll be able to tweak each script and see the result.

Spoiler alter here… If you ever go and see Brad Sugars at one of the free workshops he runs, he normally tells this story. He’d taken on a client who sold tyres. When he asked what his conversion rate was on the calls his sales team were getting the guy guessed at about 70%. Brad asked him to monitor it for two weeks, just to see what it actually was.

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If You’re Needed are Your Customers Thinking of You?

customers thinking

If Disaster Strikes Are Your Customers Thinking of You?

Getting your customers thinking of you and not your competition when they need your services is essential,  here is a great example of how you can do it.

So I’m driving from Telford to Bridgnorth just after Christmas. It’s a crisp sunny afternoon, nice clear roads, when all of a sudden a pheasant runs out in front of the car. I didn’t even have chance to brake. There’s a horrible thud and I look in the rear view mirror to see a plume of feathers in the air.

Not much I could do, so I continued on to my mum’s where I was having dinner. I got a few funny looks as I drove through Bridgnorth and it soon became apparent why…when I reached my destination, there was the pheasant imbedded in the grill of my car. *Darn* one new grill needed.

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Asking “How Do I Get More Customers?” Is The Wrong Question

Want More Customers

Looking for More Customers

How Do I Get More Customers? Wrong Question

How do I get more customers, is a common question I get asked by business owners, but it’s actually the wrong question. The first, most important question you should actually be asking is: ‘how do I get more leads coming into my business?’ The second question you should be asking is: ‘how do I increase my conversion ratio so that more of these leads become customers?’

So, how do we get more leads? Well that really depends on your market, but you should start by thinking about who your ideal clients are, and then create avatars for these people. Where do they live? How old are they? What sex are they? So they have children and, if so, what ages are they? What do they read? What do they care about? It’s about gathering together as much information as you can, so you can get a real feel for this person.

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Step One of How to You Write a Business Plan Thats Effective and Easy to Follow

How To Write A Business Plan

How to Write a Business Plan

Start With The End in Mind

How important is your business plan? It’s EVERYTHING, and it’s dead easy to get wrong. How to write a business plan isn’t rocket science, but it is the *most* important thing you have to do within your business, along with the ongoing monthly, quarterly and yearly planning that the plan creates. A great, easy to follow business plan is exactly what the majority of businesses lack and it’s exactly what we’re going to put right.

Things to Remember If You’re About To Write A Business Plan

A plan lays out what’s important within your business, and what’s important should never get sacrificed for what’s urgent, which is what all too often happens within businesses. Can you think of a business owner that you know – they’ve been flat out busy for the last five years but they just seem to be doing the same as they were five years ago, or aren’t that much further ahead? Well, that’s because they’ve been working on the urgent rather than the important stuff that really builds their wealth and their business.

I’d suggest that you read through the next few blogs once or twice, and then you set aside a few hours in your diary to work through the whole process. Treat this as an appointment with your most important client…you!

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Step Three of How to Write a Business Plan That’s Effective and Easy to Follow

The Final Part of How to Write a Business Plan

Write a business plan

Final Part of Writing the Business Plan

Write a business plan and this is where we look at the overall strategy you’ve just built up  and start to lay out what needs to be done in the business to achieve these targets.

So, look at each of the areas you’ve just worked through, such as marketing, staffing, and premises, and using your flip chart paper start making a list of things that need to be done on the left hand side of the page (so, for example you might need to get some sort of accreditation within your industry to charge more for your services, do this for every area).

Once you have all the things that you need to do, start to think about what challenges there are around those things you need to achieve and list those on the right hand side of the flip chart. You might, for example, need to spend £10,000 training someone up to achieve your accreditation and you may also then be at risk of them leaving the business. Again, do this for every area in your business.

Write a Business Plan and You’ll Get a Better Feel for Your Business

When this is done you’ll have a pretty good feel for what needs to be achieved and what some of the potential challenges could be on this journey so we shouldn’t get too many nasty suprises. Particularly as the next step should take care of pretty much everything on this list…

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Step Two of How to Write a Business Plan That’s Effective and Easy to Follow

The Second Part of How to Write a Business Plan

Write a Business Plan

Cover Every Area

Your strategy is there to give you a feel for what’s going to happen within your business over the next five years. Write a business plan and Work out roughly each year on a flip chart pad or large piece of paper, and build up the picture of everything that’s going on in your business. Start at the five year point and work backwards, you can even use post-it notes if you want, that way you can take them off if it doesn’t look right as you build your picture.

Start with your profit and turnover, then look at all the different areas of your business such as marketing, sales, premises, staff, distribution, target clients, geographical areas, operational challenges, product areas, product percentages etc…To make it as easy as possible for you, I’ve produced a list of things below and shared some specifics that you may want to include in your strategy diagram:

Write a Business Plan That Includes Long Term Projections Even if They Are Just Guesses

Marketing

Think back to the marketing plan section where we asked you to build up an avatar for your ideal clients. So, where are you marketing? Where are your competitors advertising? Are your clients somewhere which your competitors aren’t? Are there any awards you need to be going for? What kind of PR are you doing to raise your profile?

Product or Services Read More »

Holiday Lessons for Life and Business Planning Part One

Planning Your Holiday, Life and Business Planning are Really Similar

Well the weather has been awesome recently, However there does seem to be a the usual mass exodus of people going abroad looking

The Importance of Business Planning

My Plan Got me on Holiday

for the bright shiny, glowing orb thing that seems always seems brighter in foreign locations.

However we can all learn from how we book our holidays, nobody, decides one day to pack their bags, rocks up to an airport, points at a plane and says “I’ll go on that one” you could end up at some completely disastrous destinations and depending upon what you packed, completely unprepared for the location, a bikini in the Artic won’t be of much use.

However a lot of people spend more time planning their holidays than they do with their life’s, or doing the business planning which is absolutely crazy way to live, but the process for a successful life, holiday or business is exactly the same.

You start by setting it as a written goal, Read More »

In Business Be Prepared for the Odd Hiccup

Well we’re into the second half of 2014 now and it’s been a great year so far. I’m one of just a handful of coaches in the region to be

Make Sure you Have Systems in Your Business

Make Sure you Have Systems in Your Business

registered and approved for the Growth Accelerator Programme,  meaning that I can help SME businesses access government support. If you’re looking to grow over the next few years, this is definitely worth looking into.

However there have been a couple hiccups in my plans for the first part of the year too. I managed to get flu, which seemed to knock me out for a week, but a speedy recovery saw me snowboarding a week later (Happy Days) but when I returned, I’d picked up some sort of chest infection. I still managed to run some training s I’d Read More »

Do You Know Who Your Best Customers are?

Knowing Who Your Best Customers Are is Essential

If you’re in business then you have customers. You might have a few, or a few thousand, but understanding who your customers are

Who Are Your Best Customers?

Who Are Your Best and Worst Customer?

– and especially who your best customers are – is absolutely essential and allows you to target new business too. Think about your ideal customers and even make up an avatar for them. Think about where they live, what they read, what kind of hobbies and sports they have, where they shop, and what frustrations they have.

Then Work Out How to Get in Front of Your Best Customers

Once you have all of this noted down, you can start to think about ways to get your business in front of them and ways to encourage them to take some sort of action, whether that be to pick up the phone and call you, download a free guide, or request a visit or an estimate.Also, look at how can you educate your customers.

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