2011 - Page 3 of 10 - T. Harv Eker

Posted on September 30, 2011 - 8:19 am by 34

When businesses go down these days, you hear the same thing over and over again: “It’s the economy. Times are tough. It’s hard to get people to spend money or take risks.”

Yeah, everyone is going to be more cautious about how they invest or spend their money in a tough economic downswing. But what’s the main function of any kind of business at any time? Getting people to buy your product or service. Simple, yes or yes? But if a business today isn’t good at attracting people to buy what they’re offering, it will lose profitability and go down, but the economy gets blamed.

Here’s the truth: being a successful businessperson has nothing to do with the economy. If you know what you’re doing, you’re going to be successful in any economy. And one of the keys to the success of a business is Effective Marketing.

This is one of the most crucial functions of business, but quite frankly most people suck at it! That’s why statistically, most businesses fail, especially when exposed to an economy like the one we’re in.

As a business owner, the main function of generating leads and getting as many of those people to buy your product as possible doesn’t ever change no matter what’s going on out there. An effective system of marketing will make or break if people will buy your product, and whether or not your business will be profitable.

Successful businesses have these four marketing techniques, no matter what the industry:

You have to start with prospects—These are the people you’re going to be “talking” to. You need a database of people who will raise their hands and say, “Hey, I’m interested. Tell me more.”
You Have to Have A Message—Start with information: who you are, what you do, your credibility and expertise, and the benefits of whatever it is you’re offering. The hook.
How you’re going to reach them— Newsletters, emails, network marketing, direct mail—a system of delivering the message.
Back End—A method for closing the sale or following up later. Not everyone who raised their hand will say, “I want this now.” Don’t let potential customers fall through the cracks.

These four steps are necessary for any business at any time, and you also have to have strategies in place for each of the steps individually, like how to build your database (engine search, joint ventures, etc.), psychological leveraging (the potential pain by not going with your product), attractive packaging, and alleviating fears and hesitation.

It doesn’t matter what type of marketing you do—paper or electronic, people to people— you’ve got to have a system that works; a checklist of things you’d do whether the economy is good or bad.

You need something that makes it easier for you to get people to buy your product, and easier for the customer to want to buy it. With effective systems in place, it’s a win-win, and you’re giving yourself a greater chance that people spend their otherwise reluctant money on you. Of course, don’t forget to deliver on the promise.

Effective marketing makes the difference between a good business that prospers only when times are good, and a great business that endures in any economy.

A Pitch with Mass Appeal

Posted on September 23, 2011 - 3:19 am by 22

Use your imagination to picture the truth of what it really means to sell yourself, to sell what you have to offer to as many people as possible.

You’re the “weirdo” on the street with the megaphone. That’s right, the one that people are aware of but usually pass by. Some can hear you from blocks away, but the message only gets clearer the closer they get to you. And the point is of course to get them closer to get them to do something.

Depending on the content (product) and the presentation (emotional impact), some people will stop and listen, especially if what you’re saying is interesting to them or has imminent, relevant meaning. Of those very few people who stop and listen, even fewer will actually engage you, give you a chance to address objections, or otherwise convince them to take some kind of action.

But everybody’s got somewhere to be, right? Who has time to stop and listen and engage? Plus, you’re kind of weird for putting yourself out there talking all passionately and excitedly into a megaphone anyway. Who does that?

Every business person does, and we have to. The key is to understand that at any given time, you have about 3% of people who are ready to buy something right now, whether it’s a car, a cell phone, furniture, you name it. That’s what drives all commerce.

About the same percentage of people are willing to listen because they’ve been thinking about buying something but aren’t necessarily committed to it. It’s not an immediate concern. If they did by, it would have to be because you gave them an offer they couldn’t refuse.

What does that mean for the vast majority of others passing you by? It means they’re indifferent, not thinking about it, or flat out uninterested.

But what if we could say something that would get 75% of people passing by to stop and listen, or more? What would make them stay? It always points back to adding information that is above and beyond a particular product or service you’re offering. You generalize, then specify.

If you’re a business coach pitching CEOs and managers to become your clients, who you are as a company should be last in your presentation. Yawn! But starting off with something like, “The 5 Most Dangerous Trends Facing Small Businesses Today” and no business owner can logically or emotionally say they wouldn’t be interested in that subject. It matters to all of them! They’re all business owners or involved in some way, and none of them want anything to do with danger in that business.

In reality, it’s actually much easier to keep prospects near because by the time they’ve reached you, you’ve already narrowed the audience anyway because you’ve got your identity and unique selling proposition nailed down, yes? It’s much easier to pitch to qualified leads than people who thought they were getting one thing but get something else because you weren’t clear on who you’re really trying to reach. So now it’s a simple matter of turning 3% of those who were ready to do something anyway into a much a deeper pool by giving away information that they’d all be interested in.

How do you champion your product or service? What’s your proverbial “megaphone” speech to your prospects? Share your ideas or even experiment. The Millionaire Mind community wants to hear from you!!!

How to Be Good and Rich At the Same Time

Posted on September 16, 2011 - 3:40 am by 34

What’s the root of all evil? Money, right? Wrong!

You’d be amazed how many people think being rich will make their lives worse, like they won’t be judged for who they are but for their money. So even though they want to be rich, they shirk it at the same time.

This subtle yet profound fear keeps people from the truth: it’s good to be rich! Not just for the lifestyle, but because in the end, being rich makes us into better people.

I can hear someone screaming, “What about the rich jerk who doesn’t tip even though the service was great? How’s money made him a better person?” Here’s a clue: whoever you are, money will make you more of that. If you are a kind, generous person who attracted like-minded people before being rich, you’ll continue to do so after because now you’ll be able to be even more generous on a larger scale.

It’s our duty to become rich if we can. We have an obligation to grow to our greatest potential, developing the character that can achieve and care about other people at the same time. This is the growth that will ultimately make us into better people.

So what is the root of all evil? It’s not stacks of paper. Fear is at the root of our thoughts that tell us becoming rich will make things worse and take us away from being loved, accepted, and well-thought of.

If we don’t accept that being rich can be a good thing for ourselves and for others, fear and doubt creates envy. Envy says, “I can’t have that, and I resent those that do.” Acceptance of what you really want says, “I can have that, and I will be a better person because of it.”

So instead of secretly despising rich people, we should affirm them, even if they’re frickin jerks. We’re not affirming who they are as people—we’re affirming the idea that it’s okay to be rich. You can make a choice not to be selfish, arrogant, and thoughtless. Fear and envy negate thoughts of wealth and result in feelings and actions that take you away from it, even when you’re not aware of it.

Here’s a simple exercise in overcoming fear. Think of something that you’ve always wanted to do but never got around to, and just do it (Don’t break any laws, though!). Even if you end up not wanting to do it again, at least you know instead of just holding back for whatever reason. You’ve broken through something, and other breakthroughs become easier. It’s the only way we’ll ever grow.

This is not just about being rich, although that is one of the goals. This is about growing ourselves to become bigger than the obstacles we’ll face in life. The more wonder we experience and challenges we face, the more we expand to be able to take in more; the good and the bad; the money and the problems that come with it. In the end, striving toward becoming rich can only serve you, and if you choose it, serve others as well. How’s that a bad thing?

Service and Presentation Equals Millions

Posted on September 9, 2011 - 3:08 am by 25

Writer’s get writers block. Baseball hitters have slumps. Markets have down days.

The idea behind “funks” is that we’ll eventually come out of them, yes? But what we can we say for those people who aren’t making excuses about lack of financial growth; who have a burning desire to get off the treadmill and take control of their financial life by deciding to start a business, but have no idea what they’d do?

We can start drawing parameters around the question by realizing that in business, you either have a product, a service or an idea that you’re selling. Some potential business people might think, “Great, I don’t have a product. I don’t have two thousand of something sitting on a shelf somewhere in a warehouse ready to be shipped out and sold.”

Or they might be saying to themselves, “I don’t have a product but, but I do have an idea for a service, but how they heck do I do that enough to make a lot of money?”

As a matter of fact, every year there are over 375,000 different patents submitted to the U.S. Patent and Trademark Office. A fraction of those patents turn into something lucrative. The vast majority don’t because they are lacking a crucial element: Presentation!

You can have the greatest product, service, or idea in the world, but if you can’t communicate it in a way that gets others to want what you have—or if you can’t create the need for what you have—then nothing’s going to happen.

Before we can truly understand how to effectively make our presentation, we have to first understand why people buy anything in the first place. If we understand that, then we’re in a much better position to come up with that product, service, or idea and present it.

There’s only one reason why people buy; whether it be from television, from across a desk, in a department store, or on the telephone. People buy based on emotion and they justify it with the facts later!

Not that the facts aren’t important. Facts are very, very important, but they provide the information while emotion provides the interpretation.

When we’re buying a car, sure gas mileage matters, but there’re plenty of cars that have that covered. You’re gauging how you feel in that seat, the new car smell, and the compliments you’ll get. How those car payments will be made you figure out later. It’s primarily about how you feel about the purchase.

When you’re sending out your message about your product, service or idea on the informational level, you’re not doing anything wrong but you’re never going to make a real connection. You’re always going to miss making that strong, important, effective, emotional association.

We’re not talking about manipulation, either. I think it’s a basic instinct of all human beings to want to help other people. So when we’re thinking of what we’re going to do to make millions, whatever it is you have to be thinking, “How do I effectively help others with what I have?” Not just how you’re going to make your car payments or mortgage.

When you are selling something you are doing something to somebody, but when you’re helping you’re doing something for somebody. Service and presentation will keep you in business.

What do you think? We want to hear from you!!!

Leverage and Velocity

Posted on September 2, 2011 - 12:56 pm by 13

Leverage and velocity means maximizing your resources—human and material—to make profit as quickly as possible. It means you’ve got to realize you’re big enough now to need help. You’ve got to lead and replace yourself.

Add on more team members. If you had to pick four people to be on your team right now, the starting line-up is an assistant; a bookkeeper to keep track of all your critical revenue model logistics; a tax strategist; and an attorney later. Protection is key!

Utility players include sales and marketing—which you could outsource if that’s an option that would work better. You might get web people or outsource that as well. Whoever else you need that helps the money machine continue to build.

These are the job descriptions that will get the people to do the things that need to be done but can’t possibly be done be you. If you’re saying yes to everything you’re going to be overwhelmed. You need to be so far in front of what you want done that you’ll say no to a lot of things. You’ve got to learn to be very decisive. Committed people make cash!

You got to be committed to literally staying on top of your business, not working in it. Bookkeepers work in your business. Graphic artists and web people work in your business. Tax strategists work on your businesses. You are on your business when you’re strategically creating a marketing calendar that makes it possible for your monthly revenue models to happen because you’ve planned the pipeline to bring in prospects.

The people who are looking on the strategy side are not doing the daily work. Not to say I haven’t broken this “rule” of staying out of your own business. A business is your baby and sometimes we have can’t help but come back inside and get our feet wet.

But you have to make sure that you have days where you are on the outside looking in. It’s a very different thought process and a very different team.

The faster you get your team together and put a plan in place, the quicker you will grow. Growth is the number one priority for any business, so the need for speed will sort of naturally accelerate the critical functions responsible for creating and growing revenue—namely, marketing and sales. Then we protect that growth and profit with our starting lineup of bookkeepers and “law-people.”

Velocity impacts a number of areas and further dictates leveraging. With social networking and online communities, prospects’ expectations and prior knowledge speeds things up even more, which means we have to keep up.

Having already done their research online, prospects are well armed with the information they need to get the answers they want. If you can’t respond quickly with the request, your competitor’s site is just a click away. And it shouldn’t take a week or a day to get back to her or him. How about five minutes?

Leverage and velocity. They’re just words until you see them in action in your business, and the impact they can have on your financial growth.

What do you think? Have you noticed acceleration in your business or market? In what ways? How has that impacted you, your business, or your potential business? The Millionaire Mind community wants to hear from you!!!

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