Category: Startups

Make it Pop!

There are 5 major components to good advertising copy: (The order of these is essential to success)

  • Command Attention
  • Showcase Benefits of Products/Services
  • Prove the Benefits
  • Persuade People to Embrace the Benefits
  • Call to Action


Advertising is sales in print. So, you need to think about the unique benefits your products/services offer and showcase that in a persuasive way. You need to emphasize results, not features.

Let’s take a minute to talk about each of these components:

  1. Command Attention: This is usually accomplished with the headline. You need an attention-getter that makes people want to know more about your products/services. The best headlines give a vivid portrayal of the benefits or show how a problem can be avoided with your products/services. The headline is the advertisement for the advertisement.
  2. Showcase Benefits: You have to showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. They need to know what’s in it for them. Include useful, factual and clear information to show precisely what the benefits are and how they are going to help the customer. 
  3. Offer Proof: This is where you prove what the advertisement is offering. You need to establish you have a method to deliver. Consider information that establishes credibility and past performance.
  4. Persuade: You need to add compelling reasons for your potential customers to purchase your products/services. Use a hard sell approach and create scarcity. This will enact your potential customers to feel like they have to act now. Which leads into the last component.
  5. Call to Action: You need to compel your potential customers to DO something. They need to check out your site, sign up for your newsletter, purchase your products, contact you about services…something.  Offer a freebie-a booklet, sample, product, bonus, demo, consult, limited time price…the list goes on. There are lots of ways to get potential customers excited about ordering and help them feel like they are getting an amazing deal.

Good advertisements include all of these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to best place them together for the most effectiveness. We can help you with this too. Try our GUIDED TOUR to learn how to put together great advertisements from some of the best in the business.

Search & Implement

People only remember the extraordinary, strange, wild, surprising and unusual. You need to make sure your ideas and marketing reflect these reactions. This doesn’t mean you have to have a product or service that is completely out of the norm, in fact, this could easily drive customers away. You need to have a product or service that is high quality and easily marketable, then you need to market it as extraordinary and new.

As you’re research word of mouth, there are some questions you need to ask along the way:

What are the users willing to tell the non-users?

  • Exactly how do your customers describe your product?
  • What are the non-users willing to ask the users?
  • What are the things they need to know, but are unwilling to ask?
  • What happens when these issues are raised?
  • Exactly what do your prospects have to know in order to trigger purchase?
  • Exactly how do your customers answer the objections, concerns, and qualms of your prospects?
  • How do your customers persuade their friends to use your product?
  • How do your customers suggest they initially get to know or try your product?
  • What warnings, safeguards, tips, and suggestions do your customers suggest to your prospects?
  • Are your sales messages, positioning, and important facts about your product getting through and surviving word of mouth?
  • What messages do you need to inject into the marketplace in order to turn the tide in your favor and how will you deliver them?

 

There are two main reasons why word of mouth research is so important:

  1. To get the real impression and feedback from customers
  2. To define word of mouth itself and the concept it creates

There is a simple formula that can help you conduct your word of mouth research. It’s called the “2-2-2” model.

2-2-2- Model

What this breaks down to is:

  • 2 groups of customers
  • 2 focus groups of prospects
  • 2 mixed groups (enthusiasts & skeptics)

 

In these groups you need to ask the following questions:

  1. What would you tell a friend?
  2. How would you persuade a skeptic?
  3. What questions would you anticipate from a skeptic?
  4. How would you answer their objections?

The best way to conduct these groups is by teleconference. This ensures you’ll get a good variety of demographics for your customers and potential customers. It also allows people to feel safe and more able to express their true feelings. These teleconferences should not be conducted by you, but an independent party to avoid adding pressure to the situation.

We’re going to transition a bit and talk about how to construct a word of mouth campaign. First we’ll talk a look at the essential ingredients you need to put together a campaign. These ingredients are:

  • A superior product
  • A way of reaching key influencers in your marketplace
  • A cadre of experts willing to bat for you
  • A large number of enthusiastic consumers
  • A way of reaching the right prospects
  • One or more compelling stories that people will want to tell to illustrate your product’s superiority
  • A way to substantiate, prove, or back up your claims and how the product will work in the real world
  • A way for people to have direct, low-risk experience, a demo, sample, or free trial
  • A way of reducing overall risk, an ironclad guarantee

 

Once you have those ingredients ready to use, you should consider the situations in which your company can benefit from a strong word of mouth programs. Some of these situations are:

  • When there are credibility problems
  • When there are breakthroughs
  • When there are marginal improvements
  • Where the product has to be tried in large numbers or over time
  • Where there is high risk in trying the product
  • With older or mature products that have a new story that people tend to ignore
  • With unfair competitive practices such as spreading rumors, or telling lies about your product
  • When there are governmental or other restrictions on what you may say or claim directly

 

While, most of the word of mouth tactics are positive for your word of mouth program, there are a few products to avoid using in this program. They are:

  • Products where a seminar would not provide meaningful added value
  • Products that can’t be tried and where there is no consensus among experts
  • Products that are clearly inferior, without having a compensating superiority for similar products
  • Products that are so personal or emotion that rational discussion is irrelevant to the decision
  • Products where the decision value is so small (low price/low volume) the medium will not be cost-effective.

 

This wraps up this post on word of mouth research and how that research can be used when putting together your word of mouth campaign. If you need help with the research and a plan to use the results of that research, try our GUIDED TOUR to get all the help you need with our top notch resources and tools.

The Perfect Bait

In the last post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.


Today we’ll actually go through the big approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose with big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will be the easiest approach to start out with.


There are a series of things to go through in choosing which fish to start with. They are:
• Position Your Business
• Compile Your Hit List
• Select the Best Target

Position Your Business
You need to position your business to make the first move by listing your revenue streams, id and list your operational procedures, where your fish is initially positioned, your big-customer research, and putting it all together.


Compile Your Hit List

Start with a list of all the companies you’ve been considering. Then narrow it down to the ones who know could use your products or services. Don’t overlook obvious choices, whether they are big or small. Even small companies could be big fish in the future.


Select the Best Target

Once you’ve got your list narrowed down, you need to decide which one is the best fish to start with. You need to consider a couple of things:


• Which have the most purchasing resources to spend?
• Does their company vision compliment yours?
• What are their employee incentive programs as they relate to your products/services?
• What’s the company’s real need for you?
• Will the partnership lead you off-course?

Now you should have a target in mind to start with. It’s time to plan your approach and execute that plan. Here’s the step-by-step plan to help you make a good first impression:


1. Build and analyze your database. Divide your leads into three different categories: hot leads, great fits and secondary leads.
2. Send out introductory mailings to your target to introduce yourself, your company, services, products, and vision. They need to be short, clean and concise.
3. Follow up with your first phone call 2-3 days after they would have received the mailings. During the phone call find out whom you need to be speaking with in the future and try to set up a meet with the right person.
4. Follow up your phone call with another mailing that thanks them for taking the time to speak with you and offer more details about your products/services. Use this letter and opportunity to set up a meeting to do a presentation.
5. Follow up the letter with another phone call a couple of days after they would have received the letter. This phone call is to help you further develop your relationship with the prospective client. You should also be able to set up a presentation meeting with them.
6. Call again a week later if they haven’t agreed to a meeting or presentation. Ask if they received your creative letter (the second one) and if they have a minute when you can stop by and introduce yourself in person.


Now, don’t be upset if you don’t seal the deal right away. Some people simply take a little longer to woo. This can all be a little intimidating at first, but when you know you are offering a quality product/service, you can’t go wrong.


Once you’ve gone through this process and make first contact (and hopefully a good first impression) it’s time to put your best face forward, which means sending the right salesperson to seal the deal.
If you need help putting together your approach and make a good first impression, try our GUIDED TOUR to work with a coach and have access to a wealth of great resources and tools.

Uncover $100,000 of Hidden Revenue in Your Business

https://theprofitcoaches.com

UNCOVER $100k In Your Business Guaranteed 

Let me show you how you can TRIPLE your leads, DOUBLE your sales and dramatically INCREASE your annual revenue by MORE than $100,000 – while your competition struggles just to keep their doors open.

🚀 THIS VIRTUAL FOCUS GROUP IS PRESENTED BY WEBINAR

💥2:00PM EDT | 1:00PM CDT | 12:00PM PDT

👉🏼TUESDAY, FEBRUARY 23, 2021

REGISTER NOW

What is a Virtual Focus Group?

NO ONE is going out! Most of your customers are avoiding ANY unnecessary trips outside of their homes for fear of contracting the Coronavirus. By the way, I hear you – you’re not going to attend an event with others and risk exposure to the virus yourself.

So, join me ONLINE from the safety and comfort of your home or office and let me teach you the EXACT strategies you can implement TODAY that will take your business to an entirely new level financially… while your competition remains gridlocked in fear and worry.

Over the past 75 years, the most successful businesses were the ones that capitalized when the economy tanked.

There are ALWAYS opportunities to be had in every downturn.

Let me teach you the ones that will work for you NOW!

More Bitcoin


Your ONE COACHING THING today is:
‘More Bitcoin’

I’ve been asked hundreds of questions, about Bitcoin, over the last 90 days.

My answer was a long and in-depth one but part of it was that money is a game of doubles.’

Double a dollar 20 times and you get a million.

Double $1000 ten times and you get a million.

Double a million ten times and you get a billion.

Bitcoin as I write this is at $56,000….

In order to double your money you’d need it to hit $112,000.

Maybe it’ll get there and maybe it won’t…. reality is you have ZERO control over whether that happens.

Here are 3 simple but powerful reasons I’m not actively buying Bitcoin… regardless of its highs, lows or the insane hype.

1. “I invest in what I understand”

I’m not totally up to speed in BTC and even though Elon Musk is banking on it… the Warren Buffett’s, Ray Dalio’s etc…. are not.

Why?

I don’t have time or the desire to work it out. Other things occupy my time, focus and those are things I can CONTROL.

I’m investing in MY OWN BUSINESS… my software and the business coaching industry.

“A Feedback Loop” which you might remember me explaining when I told you how to go from $100k to $500k with your coaching business.

*To save myself a million more questions… Yes, I own some crypto and got in many many moons ago, I do not check it regularly, I’m not dollar cost averaging it, won’t be selling it any time soon… it’s the furthest thing from my mind.

2. “No called strikes environment”

Warren Buffett explains that baseball is a “called strikes environment”… as in you get three pitches over the plate and you don’t swing… the umpire calls you out and you go sit down.

Investing, however, is a ‘no called strikes environment’…

You can watch perfect pitches sail by and never take a swing… and you get to keep standing there and wait for YOUR pitch.

In other words…. Even if Bitcoin is the homerun on steroids its passionate investors say it is… I don’t need to swing at that pitch.

3. “Value Investing”

Future Value = Speculation.

As an advanced investor, I focus on making a profit at the time of purchase… the way I do that is by buying fundamentally undervalued assets.

Not ‘technically’ undervalued.

‘ll give you an example, when the pandemic hit the USD strengthened against the CAD (Canadian dollar) by 13%.

I knew the sudden shift meant the currency was undervalued and exchanging USD for CAD meant an automatic win… IF I WAS CORRECT.

I have American and Canadian bank accounts so I exchanged a large chunk of funds.

Within 45 days the normal exchange rate returned and I earned 13% over 45 days which means I earned about a 150% annual return (It’s 1 am and I’m not about to do the exact math so please don’t send me the correct calculation).

A 150% return is a homerun on steroids and something I was far more in CONTROL of.

I could have been wrong but I know this investment well and therefore I wasn’t.

If I were to illustrate this in another way…

If a house is for sale in my neighbourhood and I KNOW I can get it for $100,000 less than its worth… I make $100,000 when I sign the papers.

Or… the accounting firm that doesn’t do consulting hires an in-house consultant.

The 60k it’ll cost to hire the consultant is a calculated risk when the Accountant knows his clients keep asking for business advice, help, and direction and he’ll get a minimum, $120,000 per annum revenue out of it.

If the accountant has any clue whatsoever… it’ll be FAR greater than that.

The realtor knows he can buy a house… spend $20,000 and turn it around for an extra $40,000 profit on the house.

The experienced restaurant owner knows that if he spends money on software to manage the till and inventory… he’ll turn a $20,000 investment into a minimum, $40,000 per annum return.

When I spend $10,000 on advertising, I know that I’ll get a minimum, $20,000 return over time.

If not $100,000.

Therefore…

Money is a game of doubles.

Bitcoin is something you and your high-end coaching clients likely know VERY LITTLE about…

But what you should know is that it needs to hit $112,000 for you to double your money if you buy today.

The secret to ignoring the hype, hysteria, and nonsense… is to know EXACTLY where you’re going.

Your time, effort money, and FOCUS are likely far better spent on something you can CONTROL and to finally STOP betting on someone else.

You heard it here first.

Obsessed with your business coaching success,
Brian Whitehouse aka The Profit Coach

PS. Laugh at yourself and you’ll never run out of things to laugh about.

PPS. Marriages break up from lack of money… over lack of love X 100.

Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.

As good business coaches we save marriages, save families, save kids from self-destruction… we save lives!

A true life of purpose.

PPPS. If you’re looking for a proven system to follow for your business…. I have business growth academy with an automated lead generation system to do the heavy lifting while you sleep coupled with and high-end step-by-step training to support it…

It’ll teach you ‘How to find your business over $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’

Register now for my next upcoming Business Growth Webinar !
https://theprofitcoaches.comhttps://theprofitcoaches.com

Goals to set for 2021

I just heard that in 2020 there will be a new device that can turn your thoughts into instant speech.

I’ve had that for years… I call it alcohol.

In other news…

If 2020 was a business we could sue it for pain and suffering.

Anyhoo…

Your ONE COACHING THING today is:
‘Things that Compound / Your New Years Goals’

Einstein called ‘Compound Interest’ the 8th wonder of the world.

The best example I can think of is that when you double a penny for 30 days straight… on day 30 you end up with over 5 million.

Zoinx.

The exciting news is that same compounding magic also works in other areas of your life.

*Takes patience*

Therefore… I’m going to attempt to influence your 2021 goals / New Years Resolutions.

This ONE THING series was started for one simple reason…

A few years ago I set a goal of ‘mastery’ for myself.

Mastery, to me, is becoming a little better each day.

I compete with ME, not you, not the competition, not Tony Robbins, not Jay Abraham etc…

*The profound impact this has had on my life has been immeasurable*

I figured if I can help my audience and the business coaching community do the same thing… we’d be onto something.

Hence…

One daily nugget, from me to you, with these emails.

Here are areas of your life that compound and areas I’d encourage you to consider setting your goals around for 2021.

1. Building up your knowledge
2. Building up your experience
3. Building DEEP relationships with your closest friends
4. Building DEEP relationships with people you can learn from (including PAYING for them but do your due diligence and stop getting fooled by the “influencers” that consistently disappoint you)
5. Building your audience
6. Building products / services / offers THAT WORK (for the person that pays for them)
7. Understanding and applying ‘Mental Models’
Number 7 is of vital importance and rarely talked about or understood outside, what I’ll call ‘heavyweight circles’.

If you want to understand more about Mental Models listen to my last few podcasts.
As a starting point… learn to slow down and turn your ‘instant gratification’ button OFF.

*Patience*

Not to mention the NY resolution of ‘losing 10 pounds’ is getting kinda lame.
You heard it here first.

Be One with the Fish

     In the last post we started our series on catching big clients, or “fish”, that will sustain your business over the long run. Today we’re going to take that a step further by talking about how to understand and think like a big fish company and how that can help you plan your approach and find success.

    Before you can start the process of landing big clients, you have to make sure your entire team is onboard with your approach and vision. There are six keys to finding big client success. They are:

  1.  First Impression: You must remember you have one shot to land a big client. If you make a mistake, they aren’t going to consider you again. Never give them a reason to doubt your abilities.
  2. First Priority: Your fish must always feel like they are your first priority. Returns calls and emails immediately and find solutions to their problems or questions as quickly as possible.
  3. Flexible: You need to be flexible in your negotiations. If they need a special service or for you to customize a product, say yes for the benefit of the long term. A little hassle now will be a big pay off later.
  4. Long-term: This goes along with the last one a bit. As you are approaching and negotiating with big fish you need to think about the long term benefits for your business. If you go for a ones-time big score you will lose their interest.
  5. Have Fun: Work should be fun, even when trying to land big clients. In fact, this should be the most fun. You are sharing your vision with new people and including them in your future success and likewise. People simply work better in a fun, happy environment. Your passion will also be contagious and pull the fish into your vision even more.
  6. Help Them: If you take just a little bit of time and offer your clients ways to save money or time by introducing them to potential business partners, this will show you really are invested and interested in their business. Strive to find balance between your business needs and your client’s needs.

There are also a few tactics you can use to bring in a big-company vision to the people on your team. You can:

  • Post these six keys for all to see.
  • Put together a performance based incentive program.
  • Conduct frequent team meetings.
  • Use a “right now” policy that dictates big fish calls be answered immediately.
  • Offer awards/recognition for big-company ideas and executions.
  • Put together a training and certification program based on the six keys above.

    These 6 keys and tips will help you instill a big-company mindset through your company which will help you be more prepared and more likely to land your big fish. Once your team is thinking this way, you’ll be unstoppable.
    If you need help putting together an incentive program or other way to push your team toward the big-company mindset, try our GUIDED TOUR to work with one of our coaches or check out our resources and tools.

Business Development Focus Group

Attention Business Owner,

If you can handle more high-end customers, The Profit Coaches and The Six Figure Coaches Magazine is conducting a Virtual Business Development Focus Group on December 15th at 2:00 PM where we’ll be discussing successful marketing strategies along with what’s working for other small businesses. We will show you the exact steps you can take that will immediately double your leads and subsequent sales. Only one business per industry will be allowed to attend, and there is no cost to attend, and nothing for sale.

If you’re interested in representing the your profession for this private event, please call Brian right away at (239) 677-9811 or go to https://theprofitcoaches.com/webinar/ to register. Please note that we will not be inviting anyone else from your profession if you secure your spot. Hope you can join us.

PS. If you know of another successful business that would be of value to the others in attendance, please send their info and I’ll try to get them a spot also.

Are You Aiding & Abetting E-Myths?

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.
First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
• Desire
• Some capital
• Projected a targeted profit

This sounds great, but it just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at record pace, but after a few miles people start slowing and some drop out entirely. Building a successful business takes stamina and agility.
The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.
Let’s take a minute to talk about entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.
The emotions that occur, in order, are:
• Exhilaration
• Exhaustion
• Despair
• Sense of self-loss

This is usually cause by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest lag and you are sent into an emotional tailspin. This is also brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.
Use our GUIDED TOUR to get the business coaching you need to avoid feeling overwhelmed and defeated.

Add Some Compost

In the last post we talked about the first three of the 7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These 7 areas will fine turn your plan for the ultimate level of success. Today we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Management Strategy

The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that include goals, rules, a mission statement and other concrete things that tell your employees how to act, your management how to grow your business and your customers/clients what to expect.

These should all be in perfect alignment with your business goals.

Employee Appreciation

You need to put together a people strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which in turn leads to better production and a happier workplace.

There are a number of strategies you can use to keep it interested at “the office”:

  • Performance Incentive Programs
  • Contests that reward high performance
  • Employee of the Month
  • Performance/Holiday Bonuses

 

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for awhile and put the best strategy into play. Keep it fresh and change up the strategy you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.

You need to build a community within your company. There needs to be support, appreciation and respect. The more “at home” an employee feels, the better they will perform and the higher their level of loyalty.

Marketing Strategy

Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two major pillars of a successful marketing strategy-the demographic and psychographic profiles of your customers.

The psychographic tells you what your customers are the most likely to buy and the demographic tells you who they are, which can help you learn why they buy specific items. Without this information it simply doesn’t matter how good your business prototype is.

Systems Strategy

There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

 

Hard systems refer to inanimate system or systems that have no “life”. Soft systems are those that could be living. Information systems which are, of course, everything else, including customer data, product information, financial…anything with data and numbers.

The most important of all three systems is the soft systems because it includes the sales systems your business uses. In your sales system the two keys to success are: structure and substance. Structure being what you sell and substance being how you sell it.

All three systems are essential to the success of your business and while they all have their own very specific roles, they all must work together to get the job done. This also goes for your entire business development program.

I want to take a moment to recap on the ideas we went over through the business develop lessons.

An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

  • Desire
  • Some capital
  • Projected a targeted profit

 

There are essentially three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

 

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

 

There are a few things we are going to talk about:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

 

There are three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

 

7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

We can help you work through all of these areas and give your business a jumpstart that puts you ahead of your competition right from the start. Use our GUIDED TOUR and work with one of our coaches, plus gain access to a wealth of tools and resources.