How To Generate New Business

FREE Download: ‘Safe’ Risk Reversal. Your Road To Profits

How To Generate New Business (almost) On Autopilot With ‘Safer’ Risk-Reversal

This advanced risk-reversal formula can generate a stampede of powerful repeat business almost on autopilot.

If you are in marketing or sales, or are an entrepreneur or business owner, the advice I was given below over 20 years ago is as powerful now, if not more so, than it was back then.

At it’s most basic form. this marketing strategy is known as…

The Holy Grail Of Marketing

And I can amost guarantee that most if not all of your competitors have not used this strategy in this way before, which now gives you a huge advantage…

  1. Get Influencers on board who can get you repeat and profitable business
  2. “Knock them off the fence” by reversing the risk.
  3. Rinse and repeat

When you combine these 3 strategies together, it is called:

The Barefoot Risk Reversal Power Formula For High Profit Business

This is a longish post. But it is worth the small amount of time it will take to fully absorb the impact this can have.

However by the time you have finished reading thsi post, you will be able to action a strategy that the Nielsen report reckons is the most effective way to generate new business there is…

… in a unique and even more powerful way.

And most likely, your competitors are not doing this themselves, which will give you a huge competitive advantage.

It will help you:

  • better quality, nore profitable leads
  • a stampede of new leads from influencers who already have a need for what you provide
  • drastcially lower costs to get the right clients in
  • become THE go-to person in your niche or industry for what you do

This is an advanced strategy that is proven to get results. It is also the thing that when we don’t embrace it, can keep us stuck for months, or even years, struggling to get the business we know we deserve.

 

Relationships build trust for you

Business Is All About Relationships

You’ve heard it before I am sure.

When you get the right people giving you business, everything changes for the better

Getting influencers on board who can give you repeat business time after time after time is the kind of stuff that can transform your business literally almost overnight.

When you know how to apply this formula to your own business, it can to what legendary copywriter and marketer Gary Halbert calls:

“ Knock them off the fence”

Meaning:

Risk reversal correctly actioned ,can knock your own clients (influencers) off the fence; get them to make the best decision, to buy from you, or to use you on a repeat basis…

Risk reversal puts any deal beyond your clients or influencers taking any risk in using you (because you have put it beyond any risk)

Providing the clients fit your ideal profile, that is what we all want isn’t it?

More clients? Better clients? To come to us?

“As soon as you open your mind to doing things differently, the doors of opportunitypractically fly off their hinges”

20 Years ago I am sitting with a lovely lady on a personal development course. It was a ‘releasing technique’ we had both been using to lower stress and anxiety levels ( I used to have loads!), as well as to help clear blocks to different goals we both had.

I had been doing this particular technique for quite a bit longer than Mechtild had, but used to go along, as it was a great way to work on myself and also help others out who were new to the technique.

Mechtild was a great teacher.  A really genuine person who cared deeply about the results her clients got. She got great results from her students. She has testimonials growing out of her ears.

So one day, she asked me.:

“ Steve, how can I get more people on the retreat course. …. I can’t seem to get people onto the course for some reason”

Simple I said…

Risk Reversal.

“What’s that?” She asks

I then explain it is how you try and remove the boundaries to people doing business with you, who might be ‘thinking about it’ but aren’t quite sure yet.

You take on the risk of it ‘not working’ or, it ‘not being right’

What you do is you define the results that they can expect and guarantee it basically.

However -Mechtild objects immediately.

“ But you know you cannot guarantee definitive results in this kind of work. It is impossible.”

“I agree in part” I say

“However, only part…”

“You CAN guarantee improvements. And the way you can do that is my measuring whatever it is they are working on in the beginning and the end.

You and I both know you will get big improvements and often people coming out of the weekend feeling completely changed.”

“Sure”, she says, “but how do I monitor it?…

What happens if someone takes advantage … I wouldn’t feel comfortable at all doing that”

This seems to be a BIG objection for a lot of business owners.

Now before I handle this objection, and continue with the story … allow me to explain something first:

How do you think people feel when they are about to make a decision about buying from you but haven’t yet made it?

Normally, they are in a mild (or major!) form of fear.

So our J.O.B. is to take them away form fear…

…and move them up into courage.

In other words, courage to try your product or service and enjoy the results you will give people.

When you remove the fear to buying, you get more buyers. Simple.

Yes, you do get the occasional ‘oik’ who takes advantage.

They are few and far between though compared to the avalanche of new business you stand to get by helping people make the right choice…

“ help make it easy for people to make the right decision…to buy your product or service”

How I Discovered ‘Outrageous’ Risk Reversal

I was sitting in a seminar with Jay Abraham, his trusted advisors and hundreds of entrepreneurs and business owners when Jay told me about this concept of Risk Reversal,

It simply made sense to me.

Make it easy for people to buy. Take away the risk.

So after the seminar, next day, I went out to see if I could get some big influencers on board using this strategy.

The more outrageous you can make the risk reversal strategy is, the better it is perceived, which I explain further in.

And if you can name the strategy a name which is unique to you, so much the better.

Here is a slightly unorthodox risk reversal strategy that made me and my company a lot of money. And it can do for you too…

My Own Very Unorthodox (advanced) Risk Reversal Strategy

Through getting personal introductions (referrals) I went out to meet influencers that could give us business, by offering them introduction fees for every client they refer to us.

At the time, I called my Risk Reversal Guarantee the ‘Concepts Risk Reversal Guarantee’ (because the business name had the word concepts in)

An Effective Marketing Funnel

Risk Reversal Dialogue

“I am so confident” I said

“ That you and your clients will love the results, that I am willing to give you 2 cheques for the average order value, simple for trying us.

Simply refer us 2 of your clients. When we have done business with them each one of them, we will ask you to cash your cheque. No strings attached. You get to bank the cheque, no matter what the order value.”

The value of these cheques? £200. Approximately worth $550 over 20 years ago…

I carried on…

“ If you don’t see any difference, or, you or you clients are not delighted, cash the cheques with our blessing as a thank you for trying us anyway”

And…

“Also, we offer a longer all inclusive guarantee to your clients that you refer to us. If they are not delighted with what we have done, they don’t pay a penny. Nothing at all. Again with my blessing.”

Now most people thought that this was suspicious…

Who in their right mind would do this?

Put themselves at such risk?

My friends, colleagues and influencers thought I was a lunatic!

But I wasn’t putting myself at risk at all

… and….  I knew it almost for certain!

I knew approximately how much business these influencers were generating a month

  • I knew how much business on average we were likely to get from them
  • I knew most influencers would stay with us for years. (lifetime value)
  • I knew how long it would take us to break even

Because these influencers we were personally introduced, the likelihood of being taken advantage of was slim…

Because if they did take advantage of us,:

“others would probably find out. And nobody likes someone who is out for what they can get.”

I also knew.

  1. How much money (profit) we were likely to make
  2. What the worse case scenario is if we don’t make any money off a client

Here Is The Financial Proof

The cheques I gave these influencers over 20 years ago was £200 each (then around $550).

It took me 2 months on average to get my money back in profit

I then incentivised these people to give me business (ethically)  and gave them 10% of the gross of every job they referred to us.

We held on to nearly all these influencers for an average of 5 years or more

So it took 2 months to break even.

Then every 2 months, we made a minimum of £200 extra per client per month

And we had loads of these clients. We nailed a complete region of influencers this way and took the lion’s share of the best business in out niche.

Credibility and Trust

Because we were referred we had credibility and trust. We became the go-to company in our niche,  so I then decided to raise our prices by 20% overnight.

If I had the operation skills to scale quickly we could very quickly and easily gone national this way, for next to zero risk…

but sadly my skills that way back then definitely lacked.

The outcome of this advanced risk reversal strategy?

No loss of influencers – no loss of business we were quoting for.

Meaning every influencer we got on board stayed for a decent amont of time… nobody was trying to take advantage of the offer.

Apart from all this extra money we were bringing in, we then ALSO became 40% more profitable overnight. Literally. (Due to this 20% gross price hike i talked about above.)

One of these influencers was considered an authority. They didn’t want any introduction fees. This means this particular client, John Lewis,  ( and quite a few other clients) cost us zero to get high value new business in.

  • No advertising costs
  • No cost cutting requests from the people they referred
  • No sales people to pay.
  • Whilst everyone was spending more and more money advertising, we were charging more and getting more and more referred new business.

This means…

  • WouYe never had to try and find the business..
  • Business lands in our lap.
  • People rarely haggled with you, because you are already trusted because of the referral from a trusted source,

That authority and influencer I spoke about above?

Made us over £1m (approx. $2.5m)  over a 20 year period.

I am not saying this to brag or for you to think ‘how clever I am’

Because … I am not!

I simply removed the fear to working with us

And I removed the fear in 2 different ways.

  1. The influencers’ perspective and…
  2. The new clients we were introduced or referred to.

When you remove the risk to working with influencers and remove the risk to their own clients they can then safely  refer to you to others…

…it is like taking the breaks off a ‘money train’.

It is almost unstoppable

Momentum

As you use this strategy more and more, it builds momentum really quickly

Very soon you start to become the goto person in your own niche.

Mechtild’s Story continued…

Mechtild never did find the courage to try risk reversal.

Most likely, coincidentally (or not) , she never got more than 3-10 people’s “bums on seats” for her weekend retreats, in spite of being brilliant  at what she does.. So that business fizzled out.

In spite of her being an exceptionally authentic and brilliant person at what she does – she failed. Which is a shame because she could have made so much more of a difference and made much more of an impact, had she embraced this strategy in a way that fitted in with her.

And that is very sad in my eyes…

You & Risk Reversal

What can you remove the risk from

  • Influencers
  • Their clients
  • How can you incentivise them

These kind of high level influencers who can generate a lot of business, andare worth their weight in gold for you. They are hard to come by.

However when you have your own unique risk reversal and incentivised strategy and then ger refereed business

You are almost guaranteed an enormous amount of new business

I call the risk reversal strategy below the Risk Reversal Power Formula

Why power formula?

Because you are targeting influencers who can get you repeat business. Over and over and over again. Often for year for proportionally tiny fees…

And at a massively reduced cost to you.

Proven Risk Reversal Formula

This is a proven formula that out-and-out works incredibly well.

I have used this strategy extensively in my own businesses. It has been so effective, that I barely ever did any lead generation at all.

Business simply came to me off the back of the influencers I have built relationships with…

… because I “knocked them off the fence”

and made it a no-brainer to work with me. Or at least, try me out.

My only assumption here is that you want the best for your clients. This is essential for this formula to rain profit for you.

Risk Reversal Power Formula  – Safer Risk Reversal

The key to this formula working is knowing what you stand to gain or potentially lose. This way when you cativate the formula you will be doing so from a place of very strong probability of succcess.

Profit from this formual for yourself for free

Download (for FREE) this formula here

<<< ‘Safer Risk Reversal Power Formula For Outrageous Profit>>>

This is a simple 2 part formula that is proven to increase the amount of clients who are likely to say “YES” to your offer.

In this free download I show you the safer way to create risk reversal

So you can profit from:

  • More clients and customers saying yes
  • Higher profit margins
  • All for less time and effort on your behalf

now your turn…

<<< ‘Safer Risk Reversal Power Formula For Outrageous Profit>>>

if you had vaue out of this post, please comment below.

 

 

 

 

 

 

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How To Grow Your Small Business

FREE Video: How To Create Viral Business Growth Using The ‘Viral³ Formula’

The Viral³ Formula is an excpetionally fast way to grow your business.

In fact, there are only 3 ways to grow your business. Any business. And I can prove it as well.

However when you combine these 3 ways to grow your business, the results become non-linear and and profit margins increase almost virally.

Whether you are online or offline. Or whether you are long established or just starting out. Marketing yourself in this way can be incredibly lucrative.

How To Grow Your Business Effectively

The Viral³ is incredibly simple, however when you start looking at all aspects of your business in this way, growing your business becomes much easier, faster and more profitable.

This strategy/ philosophy is SO important, because it shows you EXACTLY where to put your time and energy in order to achieve the success you want,

Master this strategy and I can guarantee you will create a hyper successful and profitable business to rival even the marketing pros out there

  • No more second guessing results and strategies. With this formula you will be confident knowing you are headed in the right direction for short, medium and long term growth.
  • Stops you wasting time on ‘less profitable’ business development and gets you focusing on the most effective way to generate new business
  • You will become the go-to person in your industry or niche when it comes to generating new business. People will come to you asking exactly how you are doing it.

It is a very bold statement I make above saying I can guarantee your success if you follow this. But it is a fact.

And I’m going to prove it to you.

There is a FREE video below so you can see for yourself how to apply this Viral³ Formula for yourself.

All you need is one A4 sheet of paper and a pen.

Even if at the moment you don’t think you are that great at thinking of ideas, I can promise that can all change in the blink of an eye…

When you truly understand this formula, your thinking about business will be forever changed. You will be considered by others as ‘the person to go to’ if you want to know how to make more money in your business.

And it WILL work for nay business. Because it has to.  And you will see why as you read on it.

How I Learned This  Formula To Grow Business

Many of you know my story by now…

Before I learned this philosophy of business, I had been bankrupt and lost my home. All because of how I was running my own business.

I cannot tell you how devastating it is to lose your home and your dream of being a successful business person all inside of a few months… and worse, having to tell you partner, that because of me, our home is gone.

It took a lot of grit, courage and determination for me to pull my shoes back on and get back out to work to earn a crust even… let alone build a business again.

I think martial arts was a great leveller for me in this respect. It teaches you to dig deep when you are struggling and to have faith that difficult times pass. Because they always do.

I do believe it is in our blood though. You either want to own and grow a business or you do not.

I am definitely not putting anyone down who doesn’t want to own a business. You need to really want it.

And you need a different set of skills and a lot of inner resolve to move forward when the sh*t hits the fan too, as it will do at some pointed in your own career.

But that is where I went wrong

My skill set was this:

  • Big heart
  • Nice guy
  • Hard working

That’s it!

Nothing else.

Me Naively trying to grow my business

 

 

 

 

 

 

 

 

 

No qualifications. No management experience ( I started at age of 19). Nothing. Commendable as these qualities are, they don’t fix a sickly business strategy.

After losing my home many moons ago, I was in a bad way in many ways.

I was literally too dumb to realise there was a ‘better way’ of doing things.

I simply copied and followed what everyone else was doing to get business and ‘hoped’ that people would suddenly flock to me after they see how great I am and success would follow…

Well, as you also probably realise by now…

… that is NOT how it goes in real life.

If the best business people, companies, politicians and employees always reaped the best rewards, life would be great wouldn’t it?

But life doesn’t happen like that.

I hadn’t learned ANY business skills. From anyone. Nothing. Nada,

So, when everything went south (meaning badly wrong), I decided to try and learn from the best I  was aware of atthe time. I spent time researching who was ‘reportedly’ the best as teaching businesses how to grow.

Most people I looked into didn’t seem to “feel right” to learn from, which was a little frustrating. I wasn’t interested in complicated systems which weren’t easily measurable.

Whatever I was going to learn had to stand on it’s own 2 feet.

 

 

 

 

 

 

 

Then up came the name of Jay Abraham.

Jay back then used to charge $8000 an hour (now it is $50,000 to see if he ‘wants’ to work with you) so I figured if he is charging this, he must be good right?

(I told you I was naïve!)

… AND Jay was in London in 2 months time for a seminar.

So, a friend who for some strange reason still had faith in me, loaned me £3000 (about $8000 back then).

This was a huge amount of money for me back then. It was enough for a deposit on a new home which I had just lost.

This is where naivety and lack of business savvy went in my favour….

… it simply didn’t occur to me that this might not be the answer I was looking for. I thought because other people said it would sort out my business problems, it MUST be true, mustn’t it?

I borrowed the money and kept quiet about the price of the seminar.

It turned out to be the best decision I could have made.

And I am forever grateful to that friend for believingand having faith in me and allowing me to borrow the money…

… when I had lost all faith in myself!

Bless you from the bottom of my heart.

The Business Generating Seminar

As a green, unaffected, non-indoctrinated newbie in business I lapped up the information at this seminar like a thirsty lion, raring to get going again. Never even contemplating that the advice could possibly be unsuitable for me.

Well, the advice wasn’t unsuitable.

Quite the opposite as it happens…

The results were almost instantly spectacular.

Working Smarter, NOT harder, creates the best results

 

 

 

 

 

 

 

 

 

From where the business was before bankruptcy when we were making decent money, I had on my own with no help, 4 x’d my profit and doubled the turnover.

To be precise, 403% extra profit. Real profit.

And I did this from a standing start, with nothing to my name again.

There were a few powerful strategies I put in place as well, however, there was something far more powerful going on which I learned from Jay

It was a business growth mindset philosophy

I am not saying this to brag or ‘look’ great to you.

That is not what I am about. It is simply to show you how an incredible green business rookie who had no contacts and no money, with a simple and PROVEN effective strategy, went out and turned everything around in less than 60 days.

And no, this is not pie-in-the-sky.

I am talking a roadmap with a strategy to create real and measurable results. This is a powerful business growth philosophy that anyone can understand…

And when we learn the Viral³ Formula business becomes more effortless and  the results become non-linear.

The resutls are similar to that graph you may have seen at school that is low on one corner on the left and very quickly and very steeply goes up faster and faster up to the right-hand side.

non-linear business growth

 

 

 

 

 

 

 

This is a very real analogy of this philosophy in action.

Again, it is extremely simple. But please don’t let that fool you. We all fall into the trap of overcomplicating things. We think to grow our business and be successful, we must try the latest ‘tricks’ and ‘shiny objects’

It was Albert Einstein who famously said: “Make everything as simple as possible, but no simpler”

This is one of those strategies that is as simple as possible, but no simpler.

Viral³ Business Generation -Only 2 Steps.

All you need is an A4 sheet of paper, a pen, and a calculator.

This is definitely worth the few minutes (literally) of easy effort it will take to generate this level of clarity.

Step 1. Work out what the lifetime value of a client/customer is. i.e.  Profit.

For ease we are going to keep this at 5 years. Feel free to change this as you wish. You’ll see why.

You needn’t over complicate this.

If you have 100 clients who spend approximately $1000 in a year, and then, spend $150 a year for the following 4 years (5 years in total)

Then each new customer/client is worth: $1600 profit.

So now when you see a customer in front of you, see them with a $1600 sticker on there head.

Business person with lifetime value sticker on their head

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Simple enough so far?

Make it simple. This is an average customer.

When you have done this, more on to the next step…

Step 2 – Get an A4 sheet of paper like below.

 

 

 

 

 

 

 

 

 

 

 

 

 

Then….

Draw 3 lines across the page and put a box at the end

Write inside the lines in this order:

  • Amount of clients (A)
  • Lifetime value of clients (B)
  • Total lifetime value of clients (C)

Then draw 3 columns below

  • Increase in volume
  • increase in spend
  • Increase in frequency of spend
So in the above example you have:
  • Clients (A) 100
  • Lifetime value of client (B) $1600
  • Total lifetime value of clients (C) = $160,000

You are simply timesing 100 by 1600 to get $160,000

The Viral³ Formula Unleashes

Now this is where the magic begins…

  • If you improve your volume of clients by only 15%
  • And you increase the amount they spend by 25%
  • And you increase how often they spend by 25%

Then your profit is now $287,500

That is an extra $127,500 in pure profit for a small amount of extra clients

AnotherViral³ Example

Now this is where the magic goes viral…

  • If you improve your volume of clients by only 25%
  • And you increase the amount they spend by 50%
  • And you increase how often they spend by 35%

Then your profit is now $ $405,000

This is an extra $ $345,000 extra profit

Or 215% extra profit.

… again for very little effort! Just a different way of thinking and optimising your business.

Yes this is simplified. Deliberately.

It is for illustration purposes only.

However, when you put more exact numbers in to the Viral³ Formula, exactly the same thing happens.

FREE Viral³ Video

Below is a video to explain this simple concept. Take a look.

May I suggest watch this with the intention to teach. What I mean by this is imagine you go in to work next day and you have to explain this to other people. You have to seel the idea.

See how this applies to your own business. See what you can think of that will get you wharp-drive results for yourself.

My goal for this post is to demonstrate in a real and proven way how you can grow your business much faster in a viral-like way, without needing spend a ton of money on client acquisition.

How To Apply The Viral³ Formula To Grow Your Business In Real Terms

So we know that non-linear growth is best. We have demonstrated it.

This is where your entrepreneurial head starts to ‘think outside the box’ and differently (better) than you competitors who still insist on expensive “one-way-client-acquisition” tactics to grow.

Allow me to give you a few ideas.

How to get clients to spend more

Offer Bolt-Ons

For example. You are a plumber and you know the average spend is $350 for a reactive job.

  • Offer a slightly discounted price to service a boiler whilst you are there. Say $200
  • Or offer to do a water test to test that water is safe $ 200

If only 20% of people take you up on these then you are making an extra $40 on average per spend per client.

This instantly makes you an extra 11% for no extra advertising outlay.

What can you bolt on to what you offer?

Offer upsells

  • Offer a product that is slightly more money (justifiably)

In our own tests we found that when we offered an upsell on an antenna installation, on average  60% of people took the offer.

And it made us an extra 20% pure profit for zero extra time or cost.

What can you offer to upsell?

Offer downsells

People often miss this one.

  • Sell a lower priced but relevant product

If are a selling a $1000 coaching program and you can add something like a personalised manual and CD for $100, you have increased the spend by 10%

There are lots of ‘little’ things that when you run through the Viral³ Formula can dramatically ramp up the profits.

Lower Client Acquisition Costs

  • Lower your cost to acquire new clients

Customers and clients are becoming more and more expensive to acquire. This isn’t going to get any easier or less expensive.

An example of zero cost client acquisition.

Referral marketing is known to have zero cost and a higher lifetime value per client. (they stay on average an extra 18 months longer). They are also less price conscious.

So when it costs less to acquire a new clients…

The lifetime value of those clients goes up (because they cost less to acquire there is more profit margin)

Continuity Programs

I love continuity programs.

Big business has only been starting to wake up to this lucrative model comparatively recently.

For example:

Dollar Shave club sells men razors (and recently razors targeted at women apparently) on a monthly basis. They have done the maths on it and know the lifetime value of a client.

Microsoft now charge annually for their software. You used to be able to buy just the DVD with the software on.

Quickbooks accounting software now charges monthly. They know once you are on board with them it is a time consuming pain in the preverbial to move to another provider.

So they make more money more regularly and have a long lifetime value of a client.

A personal example.

One business I owned installed antennas.

We decided to target hotels for a continuity type program, we would rent them TVs that they paid us monthly for.

We worked out that if we gave them say 70 Tvs and installed them all, it would take us 14 months to break even.

The contract was for a minimum of 2 years…

So we knew we had profit locked in.

However, most of these clients used us for 4 years. Some up to 10 years.

The money simply came rolling in whilst we were asleep, for nearly zero effort. Month after month, year after year…

What can you put in place that has a continuity aspect to it?

Now it is over to you again

Please pull up your sheet again.

Now add in the columns any ideas.

For example

Increase volume of new clients column
  • Get referrals
  • Get sales person
  • Public speaking
Increase Spend Column
  • Upsell
  • Downsell
  • Bolt-Ons
Increase Frequency of spend
  • Continuity program
  • Insurance
  • Maintenance
  • After care
Here is an example for you again.

You can even have scruffy handwriting like mine. The results will be the same. 🙂

Instructions

In your own sheet you can put in ideas into the column that you think is appropriate like I have.

Let your creative juices flow.

Don’t censor yourself.

See what you come up with.

Then….

  • See how much extra lifetime value,
  • how much extra money you can get people to spend and
  • how much more regulalry you can get them to spend

It goes without saying, this must be honest-goodly value for your client.

  1. Brainstorm things that are proven to work for no, or very little money down – Like referral marketing.
  2. Give yourself an attainable goal. Start small. Where can you get quick wins right now?
  3. Then run it through the formula yourself.

What results do you come out with?

Power Actions

Then if you need to, explain this strategy to other people who you need to get on board with this.

… and go make Viral³ work virally for you.

Put any ideas you have into the comments section here. I may be able to add help add something that helps as well.

I love to hear about your gains and insights. Also any questions you might have. Please comment below. I always  try and read everyone’s comment.

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How to ask for referrals

The #1 Most Devastating Mistake When Asking For Referrals

This referral tip will stop you anhialating your already good customer/client relationships and ultimately make you more money!

That is at least partly why you are in business right? To earn good money?

Earning great money seems to be a dirty word in some circles. Yes, I agree business is far more than that. It has to have a vision bigger than itself be to be really truly successful too.

But let’s be honest and acknowledge there for a moment…

Business owners are the lifeblood of the economy. We employ people and hopefully also enhance lives.

And as such we deserve to be paid very well for it as well.

Do NOT Take This Referral Advice!

So in light of this, Well whatever you do, do not take the advice from this well respected online site and magazine. It will do you and your business more harm than good.

And it is really important you know what this ‘advice’ is, so you don’t go down this path…

I have just finished writing a morning email to my email list in my upstairs office and am grabbing a quick 10 minute break away from thinking. My coffee is ready.

I browse looking for business generation articles to see what’s new and open up entrepreneur magazine online. There is an article written by Ray Silverstein. The article is about generating referrals. Right up my alley…

…except:

What I see HORRIFIES me!

 

 

 

 

 

 

 

 



What I am reading is WRONG WRONG WRONG!

This Advice About Generating Referrals is Dangerous!

This advice will do more damage than good and it will squash any decent quality referral leads you were likely to generate.

This kind of TOXIC ‘advice’ is puked up all over the internet by ‘apparent’ referral ‘gooroos.

Now before I move on I want to explain, I like entrepreneur.com as a site. I think the contributors generally bring massive value. I respect the brand. But this is simply wrong and damaging advice. 

And, I wouldn’t mind betting that this type of referral system is NOT used in this way by the author. Becuase if it was tested nowadays, he would realise it doesn’t work.

This does not take into account whatsoever, what is ‘an essential’ for a referral mindset.

Which is about creating rapport and trust before you anything else, if you want to actually get high quality, high value referrals in any kind of volume.

What Silverstein of Entrpreneur.com says:

“When you begin working with a new customer, make referrals part of your initial agreement. “If I do a great job for you–and I will–you agree to give me X number of referrals.” Chances are your customer will be impressed by your dedication and drive.”

He goes on to say…

Don’t feel sheepish about asking for referrals; there’s nothing pushy or smarmy about it. People won’t give you referrals unless you deserve them”

The first paragraph is flat out wrong. The second paragraph at is only partially true.

Allow me to elaborate if I may?

The first paragraph:

When you make it a condition of working with you, people feel pushed. Bullied almost. You are turning the relationship cold before it has a chance to warm up even.

Not everyone wants to refer you to other people.This is their right.  There is a much higher level of trust involved in referring someone. And because of this you need a completely different skillset.

A referral mindset ‘inspires’ people to ‘want’ to refer you new business.

Willingly. Because –  they want to.

Not because I have pushed you into agreeing to phone up granny for health insurance which she doesn’t want and already has anyway.

Second paragraph

The author is right about not being sheepish. Yes you should ask. At the right time only though. Asking at the right time will significantly improve your results.

However, asking for referrals IS smarmy when you push and bully people into giving you referrals,

Entrepreneur magazine goes go on to say …

“In fact, getting a referral is the highest compliment you can receive. Let your customers know you prize referrals, which you’ll earn by providing excellent quality products and services”

And…

“Always be specific when asking for a referral. Looking for high net worth individuals? Say so. Interested in midsize companies? Let them know. If you don’t tell your contacts who your target customer is, you’ll waste time pursuing leads you can’t use.”

He also says:

“Ah, referrals. I can’t think of a more powerful selling tool.

It’s a fact: People would rather do business with people they know–or know of–than with strangers. When you’re introduced to a prospect through a personal recommendation, that prospect has a vastly higher comfort level than, say, a buyer you find through cold calling.

After all, few things are more reassuring than a positive endorsement from someone you know and trust.
So why is it that, while we all covet referrals, we don’t pursue them as much as we should? “


So here is my bent on asking for referrals

Referral marketing and selling is primarily about building trust. It is about nurturing the relationship. Not pushing it. You build rapport quickly first. 

The ultimate goal is for someone to WANT to refer you.

Referral Marketing and Sales are about trust and nurturing

 

 

 

 

 

 



When you ask for a referral right off the bat, it is like going up to someone you fancy, but don’t  know and saying to them in the first sentence…

“ If I buy you a drink and you are happy with the conversation, I want you to agree to sleep with me”

Not the best or most empathetic chat up line is it? 

In fact it is downright self-centered and will normally get you a slap rather than a knoodle!

There are many non-macho,intelligent and quiet feminine ladies who are strong in their own skin (which includes my own wife) who would tell you to F**K OFF if you said that.

…and perhaps rightfully so!

It is taking away choice and freedom.

You cannot force people to refer you

 

 

 

 

 

 

 



This leaves no space for you to ‘inspire a client to want to refer you’ 

The best time to ask for a referral then, is when a client feels grateful in some way. When they feel good about you are your offer.

There are ways you can ask open-ended questions to achieve this. This is more a ‘nurturing’ thing though, than a traditional sales type pushing thing.

Ancient Chinese wisdom & referrals

The ancient Chinese have a symbol of a circle like this.

The Energy Of Asking For A Referral Is More Feminine

 

 

 

 

 

 

 

 

It depicts yin and yang.

Masculine and feminine energy. It is about balance

You don’t have to believe in this philosophy to get this. Martial arts uses this symbol to to demonstrate the balance between required to use an opponent’s force against themselves.

There is a lot of common sense in this symbol.

Whereas sales is a lot about push, Yang  – or masculine energy…

…Referral sales are more about attract or Yin, feminine energy.

Referrals are about attracting clients

 

 

 

 

 

 


With referral selling you want people to ‘want’ to sell for you for free because they are willing to, and they feel good about it.

Not because they feel too embarrassed not to.

Poor prospects = poor results

Do you know what happens to people who make referrals a condition of working with them like this?


They get BAD referrals. They get poor Prospects.


People that are hard work and are less likley to buy from you .And, that are also bad fit for you and your business.So the close rate for converting these people to an actual sale is very low. 

And, getting referrals is less exciting, fulfilling and protitable than it will be when you learn how to do it the right way.

Here is the article on Entrerpreneur.com below.

<<<See what you think.>>>

“Getting ideal clients is the name-of-the-game.”

Referral marketing and sales are recognised as THE BEST WAY to achieve this.

Just make sure you ONLY  take advice from people who actually use referral marketing on a day-to-day basis…

Or you might do more harm to your business than good.

… and ultimately that will hurt your wallet.


Until next time

Barefoot “ Ying not Yang” Steve
” The business generator guy”


P.S. If this resonates with you, please do share it, so we can stop other people making the same mistake. And stop this kind of misadvice ruining our customer/client relationships. And ulitmately your business.


 




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How To Make More Money In Business

Shortcut To A Stream Of High Value Business

“Sales are the lifeblood of your business” is a very commonly used phrase. And it is very true.

You only have to look at the stats:

In the UK

  • 20% of businesses fail in the first year
  • 50% of businesses fail by the fifth year

In the US (according to the SBA small business association)

  • 30% of businesses fail within 2 years
  • 50% of businesses fail within 5 years.
The struggle of generating new business

That can seem pretty gloomy when starting out. Scary even. especially when a lot of people are giving up their stable income and jobs for the privelege.

There are lots of reasons or even ‘excuses’ sometimes as to why businesses fail. This post is too short to go into them all.

However, nearly always it is a lack of business coming in which is the issue, coupled with costs that can’t be met quickly enough. So the inevitable happens. You lose your business.

Barefoot Business Wants To Reverse This Trend

and the best way to do this? Be profitable to the point where you are beyond the ‘hits’ in business. Make yourself almost invulnerable!

I know exactly it feels to lose a business. I managed to lose my business and home in one fail swoop 3 months apart.

“I can put this down to one single reason!”

I wasn’t generating enough business to pay my overheads when a recession hit. And when this happens people you owe money to, like suppliers (vendors) and mortgage companies suddenly lose their sense of humour and come at you all guns blazing…

…it is not a nice place to be I promise you!

“Normal Lead Generation”

This is where creativity comes into it’s own.

We are all programmed to believe:

  • We have to advertise in some way to expand
  • We have to network like mad to grow our business
  • and many other things (i’ll let you fill in the blanks)

This may work sometimes.

However it is often not as effective as we like to think.

If you count your person hours (trying to be PC here!), you will often find the return on your time investment is not great.

Likewise with some form of advertising. Unless you have a budget of millions to grow a brand, you must have a good return on your advertising investment to make it viable and make you profitable.

Exactly the same if you employ sales people. How much ROI are you getting on each sale?

The problem is, we often know what to do, or we would be doing it, right?

Power Sales Deals

Power Deals transform business

The case for Power Deals – The numbers…

This is where Power Deals can come into their own.

Allow me to explain if I may.

Scenario 1

If you know (counting time as well) that your costs to make a sale for your product are say 25% of the sale and your product or costs of service are 50%, you are making only 25% profit on each sale.

Please bare with me if you eyes are starting to glaze over….

This means on a $300 product you are making $75. Not bad.

Scenario 2

You know (counting time as well) that your costs to make a sale for your product are say 15% of the sale and your product or costs of service are 50%. You are now making only 35% profit on each sale.

This is where things start to get exciting…

This means on a $300 product you are now making $105.

… this is a lot more!

Staggering Results

This is the same benefit as rasing your prices by 40% overnight for this kind of endorsed business.

What would happen to your business if you could raise your profit by 40% overnight?

Would that bring in much more money?  Would you do this if you knew how?

My guess is yes!

So HOW do you do this?

You Align With A Power Player.

A power player is an authority or influencer who has an audience already.  People already know, like and trust them.

You simply cut a deal with them to endorse and promote you for a finder’s fee.

Creative business deal brokering

Get Your Creative Business Head On!

You are looking for people/niches who can transform your business. People who can generate consistent repeat new business and ideally have authroity and influence.

This is the fun part. Get a pen and piece of paper (yes, a real pen and paper, it can be more creative)

Read below. Then…

…let your mind run wild. Think of anything and everything, everyone, who might benefit from what you offer. Wirte everything down you can think of, even if you think it is stupid (stupid is often the link to a genius idea!).

Brainstorm with someone who is outside of your niche (our Facebook group is great for this)

So now read below…

  • How many aligned industries need what you offer?
  • How many of your suppliers need what you offer that can you can incentivise for a finder’s or introduction fee?
  • How many authors have written books about your niche, but have no product or service to offer?
  • How many people are there in your niche in different areas where you can do reciprocal endorsements?

People Love These Deals

I am not exaggerating when I say people are crying out for these deals. You are literally putting cash into their pocket. They will loooooove you for it!

There are things you need to put in place to make these deals compelling.

And you need to be able to be introduced to the Power Players who can do this for you obviously.

But both of these are not actually that hard. And it is a whole load easier than cold calling, or hoping business comes in.

It is all about how to create deals that are outside of the normal ‘box’. Where everyone wins and is happy with the result.

I talk more about how to structure compelling deals and, also how to get persnally introduced to these Power Players.in a future course coming out and in a future post.

These people really do have the means to transform your business, and, as such, your life.

 

the deal that can transform your business

For the moment though…

  • Who can you align with to create a winning deal with?
  • How creative can you get ?
  • Can you try and create just a few deals like this?

Thinking outside of the box like this keeps you away from the scary statistics above. You will be more profitable, make more money,…

and…

make a genuine difference in the world too!

(hope changing the world is not too much responsibility for you! (joke))

If you like this post…

please comment below and let me know any ingenious and creative ways you thought of, or, better still, use, to get more high value business.

I apprecaite and value your comments always.

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How To Make More Money In Business

FREE Download: The Most Powerful (Easy) Way To Make More Money Your Business

Generating new business is an essential skill you must have if you are going to create a successful business that makes you money…

The problem for most of us is, we have ‘many different hats’ we have to wear. We need to have marketing skills, accountancy skills, our natural skills, operations skills, brandking skills. It is a massive time- challenging learning curve…

And we often have very little time to dedicate to getting the ‘right kind’ of profitable business through our door.

We never seem to be able to devote the time we need to really crank things up a notch or two to make a lot more money, and, to make things easier.

Or….

We simply don’t have the skills. And that is ok too. It is normal for all of us.

You may be one of those people also, who have started a business with massive experience in your field of expertise, and, next to no experience in building a business.

The fact is, without a steady stream of business coming in, you are almost definitely doomed to failure. And all your hard work and effort in creating a successful business is gone…

This post will help you if you you fall into any of these categories. And it will also help you if you simply want to attract more of the best kind of business. If you want to maximise your marketing and sales potential for very little effort.

If you want to:

  • Generate the best kind of business.
  • Get more business to come to you
  • Get more customers and clients selling for you on your behalf (for FREE)

Then this post and the FREE Special Report below could be the ‘lucky break’ you have been waiting for

In the special report below I reveal a simple 5-10 second sentence that even the most introverted person who has never sold anything in their lives before, can use to easily generate new business.

Jay Abraham, the most expensive marketing consultant in the world was one day asked:

If you had only one form of marketing you could do, what would that be?

The answer?

“Endorsed Referral Marketing.”

When asked why, he responded:

“ because you are leveraging other peoples’ networks and trust which makes the sale really easy.

They are less price conscious, buy more, buy more often, spend less time in the sales cycle and are much more likely to refer you to others as well..Also, if the person you ask for the referral from is a great client, then their network are more likely to be great too. This saves you a whole load more time and makes you a whole load more money…”

For A Lot Of Us Consistently Generating New Business Can Be A Struggle

Anyone who has been in business for long enough knows what a struggle it can be to get in new business. It can be really hard work!

Why hard work?

It can be hard work for quite a few reasons and here are just a few.

  • Getting the right type of new clients in can be very time consuming
  • Getting new clients can be very expensive
  • Getting your message across and understood fully can be really challenging
  • You may not have marketing skills and yet you are the one who is responsible for getting new business in
The pain of trying to generate new business

However one of the biggest challenges to getting new business in is:

Getting new clients who ‘are ideal’ is probably the hardest thing of all!

Ideal New Clients

We have all had the penny-pinchers who suck the last penny and the very lifeblood out of you. Even worse, these clients always seem to be the ones who are never happy no matter how much you do for them!

Getting ideal clients in that we can really make a difference to, and, who we can earn lots of money from, can be incredibly challenging.

You want clients who are going to spend the money, be easy to manage, and, recognise the value you offer.

Alignment – the unspoken gift

I call this alignment. You know you the kind of clients you can best serve and help, and, you also know who can best make a difference financially to your business.

And yet, often, these ideal clients remain elusive

That is because at the higher levesl of business, a lot of business is done by referral or word of mouth. This has been happening for millenia.

So…

To be the number #1 go-to person in your niche you must be referred.

So Why Do Most People Not Simply Ask For Referrals?

There are a few reasons in my opinion and also according to various proven studies.

Referrals In The 70’s – Bullish & Aggressive

People for years have been taught the old 1970’s bullish and aggressive way to ask for referrals.

“just ask”, or:

“say that if they want to work with you they have to refer you to at least 5 different people” or an even worse version:

It is a prerequisite that if you work with me you must give me at least 3 referrals, or, I will no longer work with you”

If someone said that to you how would you feel?

You might feel pushed, bullied, harrassed, angry, upset maybe even violated that someone can take your integrity so lightly! Simply put, this approach fails in so many ways, and, often loses any rapport a client had beforehand

…so definitely DO NOT do this! You will lose clients.

Personal Reasons People Don’t Ask For Referrals

  • Fear!
  • Fear of rejection
  • Fear of looking needy
  • Fear of looking silly
  • Fear of failure
  • Fear of damaging a good relationship

The list goes on and on, but the primary reason is always: Fear!

F.E.A.R.

Fear you may or may not know is an acronym for:

False evidence appearing real

And the acronym is often used in coaching circles. However, if the way people have been taught to ask for referrals is like back in the 1970’s, then is it any wonder?

Relationships in business and asking for referrals the wrong way

Relationships in business are everything and have the potential to open huge doors for us. Getting those doors to open can be challenging. Going up to what you perceive as an ideal client and saying “ I will work with you if you introduce me to your family so that I can sell to them even if they don’t want what I offer or have not expressed an interest in it, is damaging and will probably ruin your relationship!

Relationships in business and asking for referrals the right way

Now imagine this for a moment….

You are in front of a great client who is delighted with what you have given them.

You have already done your research to see who they are connected with and you can see that there a quite a few people that you feel will be an ideal fit for you.

It is like having a natural conversation!

You are talking about what has been achieved and you can literally see them light up slightly from the inside. You can see gratitude written all over their faces.

You then lead them in a natural and very gentle way to a conversation about giving you referrals so that others can experience what they have experienced.

Your client naturally wants to reciprocate and you go through some names you have thought of and some that they have thought of.

Is this real?

Yes – Because this is exactly how I got referrals for all of my businesses and it works incredibly well. Equally importantly your client relationship is maintained and your integrity remains intact.

This is how you CAN (safely) ask for referrals!

This is how referrals should be done! Not the old 1970’s aggressive greedy ‘me me me’ way financial institutions used to (and do still sometimes!).

No awkwardness, no sleazy hypy pushy or embarrasing sales conversations.

Now I was lucky!

So who am I?

My name is Steven Cole and I have built 6 different profitable businesses over a 30 year period via strategic referral and endorsed referral marketing.

In other words, I am not a ‘self proclaimed guru’. I have been at the coal face of business and understand some of the challenges we all face as entrepreneurs and small business owners!

Mentored

I was actually mentored by Jay over 25 years ago alongside his own inner circle on how to ask for referrals and how to use them strategically. The story how his happened and I got his information for free, is a long one and one I may write about another time.

Suffice to say I think Jay saw this young lanky go-getter who was absolutely clueless (I only ever used to advertise back then!), and, it must have touched something in him. And like a lot of successful people my perception is he has a big heart – at least he did for me!

Maybe also the fact that I had just lost my home whilst struggling to get enough business on to survive even (that is a story for another post).

I was directly given days of strategies that he said ” would transform you business and your luck”

Over $50,000 of mentoring …

Because Jay is (and was) the highest paid marketing consultant in the world who now charges $50,000 for a 30 minute conversation to see if he wants to work with you (I kid you not)

My Results?

  • 207% growth in 60 days!
  • 409% extra free profit

207% growth in only 60 days and perhaps even more staggering was the fact that profit went up by over 409%!

Staggering yet true!

… and this happened in one of the deepest recessions in recent history.

Simple Effective Strategies

I was told to “get existing clients to market and sell for you. Leverage their good will and trust in an honest way. You will be shcoked at how effective this will be”

He wasn’t wrong as the above results show.

But what did shock me was how simple this was!

Before I learned this strategy of asking for others to generate business for me, I was never able to speak to the right people. There was always some excuse,

Now, they often come to me, or, when I call, with rare exceptions, they take my call, and, are open to listening to what I have to say.

This is because of the ‘T-word. Trust. Trust generated by the client who refers you, makes any business conversation more like chatting with someone you already know. And…

3 things I talk about in the Special Report below which is more advanced…

  • the R-Affect.
  • Priming.
  • Borrowed trust

Together, these 3 things almost compel people to refer you to others. And yet at it’s most simple form it takes literally only seconds to do.

When you know how to do this effectively, you will literally end up creating more and more unexpected sales as time goes on.

Imagine for a moment you have a previous client who is having a conversation from someone they know who is in a related industry.

This person mentions they need what you offer.

Your previous client then tells this potential prospect all about you and what you do. How great you were and how they should use you too!

What do you think the chances are then, that this client will contact you?

Very high I would imagine!

This is what this strategy can do for you and the first stage of this is what I call the “Barefoot Shoelace Method.”

And it is 100% honest, ethical and will fit with your values

So how can YOU get more people to willing sell for you for free?

There actually is a great solution for you right now…

…and it is genuinely free!

I call it the Shoelace Method because it takes so little time to do anyone can do it (literally!) It takes as long to use the Shoelace Method as it does to tie a shoe lace.

“I taught my son how to do this when he was 6”

He remembered it and in his current job uses it all the time to get free new business)

If you have 5-10 seconds spare, even with zero sales skills, you can use this strategy to big affect.

  • Generates new business for free (by getting clients to sell for you)
  • Stops you losing business unnecessarily to competitors
  • Allows you to charge more for what you do (because of the higher level of trust that is created)
  • Creates a consistent self generating stream of new business

…and it does all this for zero money down.

This generates new business right off the bat. However, there is also another big benefit to the Shoelace Method…

It sets the stage for more advanced referral strategies you to be THE go-to person introduced to the kind of business that can catapult you into the success lane of business.

Simply click on the link below and learn how to generate new business for only 5-10 seconds effort. And no money down.

>>>Your FREE Barefoot Shoelace Method Download<<<

I am not sure how long this is free for as we are trialling it as a lead generator for a short amount of time. This may or may not be free when you come back to this page.

So I strongly urge you to download this right now whilst you can. I promise you won’t regret it.

Barefoot Shoelace Method FREE Download

 

If this has been of value to you please do leave a comment.

It is appreciated and share this post with your friends and colleagues who might also benefit from getting more highly profitable business in a way that that is exceptionally easy and keeps your values and integrity intact.

Thank you for reading.

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