Archive for August, 2011
Two business owners compete against one another in the same field.
Business Owner #1 has worked in his niche for 30 years; he has a massive list of contacts; his reputation is impeccable; his clients are among some of the most satisfied in the industry. His expertise is unmatched. Word of mouth has been a friend to his business, but his niche is very specialized, which means that his name doesn't come up at many dinner parties.
Business Owner #2 is relatively new to the industry, also working in the same specialty niche. She's still in the process of building her contact list; her clients are largely satisfied, but the verbal buzz hasn't elevated yet…she's simply too new.
Which business owner do you think has realized the largest profit in the last 12 months?
Would you be surprised to learn that it's Business Owner #2?
How could that be?
One word: Marketing
Business Owner #2 invests whatever she can afford to lose in marketing campaigns, while Business Owner #1 simply can't seem to get past the initial dollar amount of the marketing expenses, and so, simply doesn't "get the word out".
As a result, the first business remains steady, but stagnant. The second soars.
Business Owner #2 possesses a Millionaire Mindset. Here's what's going on inside her head:
• Marketing is an investment. Even if one campaign costs $4,000 (which is a significant amount of money for her fledging business), she anticipates that just one resulting sale will pay for the ad.
• She views the campaign as an investment in her most valuable commodity – herself. Because she has completed the research and knows that there's a noted demand for her product, she purchases each new ad with a faith that can only come from believing in herself and her business. She thinks, I'm the best investment I'm ever going to make.
• She never invests more than she can afford to lose. Financially, she only invests what her business can survive without. Emotionally, she only invests what she can lose and still hold on to a sense of hindsight without depression.
• She doesn't ruminate over the dollar amount of each marketing endeavor. Rather, she concentrates on its potential return. She understands that she'll realize direct returns, as well as future, residual ones.
• She knows that she'll never reach millionaire status by pinching pennies.
• She understands that by pulling out her cash and throwing it against the wall of cash that has become frozen in this, a stagnant, economy, she's multiplying her chances of getting a return. Unless she spends money, the wall of cash will remain rigid, eliminating a large portion of potential profit.
• Though it was difficult for her to accept the idea of investment versus cost in the beginning, she becomes more willing to spend money with each profitable marketing campaign. Because of this realization, she has committed to educate her clients about the benefits of marketing, which will contribute to the stimulation of the economy.
Investment and return will never be a chicken and egg debate. Without investment, there can be no return. The return will never come first…in fact, it simply won't come at all.
If you want to find your own millionaire mindset, you must separate yourself from the competition's aversion to marketing and getting your name out there.
You could spend your disposable income on a new car, or a summer home, or a vacation. Or…you could invest that cash in an marketing campaign…so you can afford all three.
I'd love to share more about what it takes to Create A Successful Business That Works For YOUR Life, and makes a DIFFERENCE to others. I'm running a FREE teleseminar series exactly on that topic. Join me by registering here: www.clientmagnets.com/successcallsTweet
The X-factor – the secret ingredient to success beyond your wildest dreams…
FREE Preview Training Calls!
Wednesday 7 September, 2011 8pm UK Time
with Bernadette Doyle of Client Magnets
Join us by calling direct or listening in on your computer
Why do some people own businesses that really take off while others just chug along despite all their hard work? What is the difference that makes the difference? I call it, “The X-Factor”.
Between the 7-figure masterminds I participate in, through to hanging out with multi-millionaires –including Richard Branson – on Necker Island, I've concluded that the “X-Factor” is the common denominator for people who are really achieving BIG success. But you don't have to wait until you're a millionaire to discover this secret – I'll be sharing it on this call!
You don't have to wait until you're a millionaire to discover this secret – I'll be sharing it on this call!
I've already been getting rave reviews about this special free teleseminar series. If you haven't registered already: Be sure sign up for Call 2: http://www.clientmagnets.com/successcalls/
In this FREE teleseminar series I’m going to show you how to create a successful business that works for YOUR lifestyle, makes a big difference in the world and rewards you handsomely too.
Even if you can’t make the calls, I urge you to register because you’ll get the details of all the other content-packed calls, plus how to access the recordings.
Read all about them here: http://www.clientmagnets.com/successcalls/Tweet
Imagine the following scenario. It’s Wednesday afternoon. You and a friend are having lunch at your favourite restaurant. After lunch you might go for a stroll, visit a local attraction, or just go home and read. It doesn’t matter which. Your phone and email are switched off, work is the farthest thing from your mind, and you’re committed to nothing more than simply relaxing. You return to the office the next morning, guilt-free and feeling rather energetic.
This is what Strategic Coach Dan Sullivan describes as a Free Day, a 24-hour period completely free from work-related problem-solving, communication, and action.
It’s not so easy to imagine, is it? For most business owners, the whole notion of free time, particularly midweek, is nothing less than far-fetched. How can you possibly take free time when there’s so much work to be done, money to make, commitments to be kept?
Most people think of Free Days as a reward for hard work. I don’t. Now I see Free Days as an essential precondition for achieving success and optimum productivity. The key to free days is recognizing that it means booking time to rejuvenate before — not after — your productive periods. Several years ago I started to notice that many of the successful business owners I admired talked about the importance of ‘downtime’ and blocking out periods of time where they did absolutely nothing.
Because I was interested in replicating their results, I paid attention and started to wonder how I could incorporate ‘free days’ into my own schedule. It wasn’t easy at first. On any given day, most business owners would consider themselves extraordinarily lucky (or seriously pressured) to be able to squeeze in a bit of free time, let alone a whole day. It happens only IF they can first get “a few things” done, IF there are no unexpected crises, and IF they can just clean up a few “little messes” around the office. Not surprisingly, this seldom, if ever, happens.
But if you want to improve the quality of both your work and personal life, you need ‘Free Days’. So how can you incorporate free days into YOUR schedule?
Right now, most of us figure out how much time we need to work and make money. Then, if there’s anything left over, we devote it to free time. But this concept doesn’t work for time any more than it works for money.
Successful savers know that you have to work out what you want to save, take it off the top of your income, and live on the rest. If you don’t, you’ll get to the end of the month and find there is nothing left. Free time is just like savings: it has to come off the top. So you need to plan your Free Days first, and then work everything else around them.
It won’t come easy at first. You’re not used to it. Like anything else, Free Days take time and practice. But it gets easier when you see free days as a necessity, rather than a luxury. When you’re running a business YOU are the most important asset. In the words of Coachville founder Thomas Leonard ‘Without you, there is nothing.’ So you need to make taking time out for relaxation, rejuvenation and what Stephen Covey calls ‘sharpening the saw’ a priority.
How should you use a Free Day? Well that all depends upon YOU. Some people are rejuvenated by engaging in highly energetic activities. They need to be out and about, on the go all the time. Others (like me) are just the opposite. They just want to relax, curl up with a book, listen to music, get a massage, lie on a beach, or have a good conversation. Whatever you choose, your Free Day should allow you to be in a different world, away from responsibilities, concerns, worries, and goals.
Start NOW. Don’t let this be a ‘good idea’ that you’ll get around to ‘when you have time’. Take out your calendar and mark out your next ‘free day’. Keep it sacred! If a whole day seems like too much to start with, then start with an afternoon. I promise that when you make a habit of ‘free days’ and you notice your creativity and productivity soar as a result, you’ll be hooked. So start TODAY.
Want to know how To Create A Successful Business That Works For YOUR Life, Makes A BIG Difference And BIG Profits Too'? Register for my FREE Training Calls … http://www.clientmagnets.com/successcalls/Tweet