“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.
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
The case for Power Deals – The numbers…
This is where Power Deals can come into their own.
Allow me to explain if I may.
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.
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!
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.
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.
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,…
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.
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.
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?
“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
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.
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 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!
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!
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)
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…
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.
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.