Category: Client Retention

You Turn Me Right ‘Round Baby, Right ‘Round

You Turn Me Right ‘Round Baby, Right ‘Round

Franchises are the most common kind of turn-key business. Franchises exist for every sector on Earth, and they’re quite simple to obtain and require no technical experience. McDonald’s is a great illustration. In fact, a 12-figure, 38,000 franchises example. 

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

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

Business Format Franchise

The franchise business form is derived from a prior model known as the “trade name” franchise. The most significant improvement was in terms of rights. During the days of the “trade name,” the franchise owner only had marketing rights; now, however, franchisees have ownership rights to the entire firm, including processes. This has allowed us to shift our attention away from the quality and name recognition of the company’s goods to sales methods that support the company.

The Franchise Prototype

It was the franchise prototypes that allowed for the modifications to be made, allowing today’s franchises to really shine with the methods developed by the owners rather than those from the corporation. This can make a significant difference in the franchise’s success since the owner may now tailor their marketing and deals to the specific requirements of their local target consumers.

Franchise Prototype Standards

Now, all of this being said, no one with a reasonable mind would invest in a franchise if the parent firm did not have a well-developed strategy for ensuring that the company succeeded. So, there are a few criteria that must be met in order to get the franchise process off the ground.

Identify potential clients/clients, suppliers, creditors, and staff who will provide consistently high-quality service.

  1. Build a user-friendly model that can be utilized by anybody with any level of expertise.
  2. Create a defect-free version of the model.
  3. Make a model with Operations Manuals.
  4. Develop a representation that will provide consistent, dependable results.
  5. Develop a model that includes the same color, dress, and facility standards as your own.

In addition to these, the parent company employs various strategies to ensure that their brand is still in front of customers’ minds and that it remains consistent. When you buy a well-known company, you will collect consumers simply because they are yourself.

If you are considering purchasing a franchise, talk with one of our experienced business coaches during our FREE test drive.

YOUR MARKETING COACH

Dr. Mike Montes

Download my new book and I’ll show you how you
can triple your current number of leads, double
your sales and increase your annual revenue by
$50,000 or more…and WITHOUT spending a cent on
marketing or advertising… GUARANTEED!

Expand Your Company’s Life Cycle

Expand Your Company’s Life Cycle

Today I’m going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business. 

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

We’ll discuss what each of these cycles entails and how they may help your company survive longer.

Infancy

The owner, usually known as the technician, is in this stage. The connection between the company and the owner is that of a father to his new newborn child at this time. There is an unbreakable tie that must be discovered in order to chart your company’s future course. Never let go of your child.

The secret is to recognize that your company must develop in order to thrive. You won’t be able to stay in this phase indefinitely.

Adolescence

In this stage, you must begin combining your support staff to delegate and enable progress. The technical person is the first line of defense since they must have a certain level of technical knowledge. However, in this cycle, the manager takes center stage. A connection should be established with the entrepreneur before anything else occurs in order to plan for the future.

Growing Pains

There’s a time in every company when it grows and becomes chaotic. This is known as the growing pains phase. It’s a problem, to be sure, but it’s an issue nonetheless. You’re frequently presented with a number of options:

  • Avoid growth and stay small
  • Go broke
  • Push forward into the next cycle

Maturity

The fourth stage, maturity, does not signal the conclusion of your company. In order for your business to flourish, you must maintain a growth mindset. To move your firm forward, you must keep an entrepreneurial viewpoint.

You’ll notice how all four of these cycles are linked and rely on a solid base for each one of them in order for your business to thrive and continue to exist. All three of your essential positions (the technician, manager, and entrepreneur who I discussed in my previous post) must collaborate to overcome these cycles.

If you’re having trouble putting your business life cycles together and determining which of the key roles you belong to, try out our FREE test drive.

Special Note From Dr. Mike Montes,

My team has created a program with the perfect combination of online resources, tools, and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion-dollar businesses.

Interested??

The E-Learning Marketing System™ is the most powerful and dynamic do-it-yourself client attraction program ever created.

YOUR MARKETING COACH

Dr. Mike Montes

Download my new book and I’ll show you how you
can triple your current number of leads, double
your sales and increase your annual revenue by
$50,000 or more…and WITHOUT spending a cent on
marketing or advertising… GUARANTEED!

Are You Aiding And Encouraging E-Myths?

Are You Aiding And Encouraging E-Myths?

We’ll go on a trip through the world of e-myths, debunking them to help you avoid being sucked in by the e-myth trap.

First, let’s define an e-myth. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

  • A need 
  • Some money
  • Projected a targeted profit

This may seem appealing, but it is simply not feasible. Consider starting a company as a marathon. Sure, everyone begins at breakneck speed, but after a while, people begin slowing down, and some drop out entirely. Building a successful business requires stamina and quickness.

The fact is that a successful business has many different elements, and any of them must be considered if you want to achieve success.

Let’s look at what the term “entrepreneurial seizure” means. This captures the thrill of the beginning, developing, and potential failure of a business.

The emotions that occur, in order, are:

  • Euphoria
  • Exhaustion
  • Despair 
  • Sense of self-loss 

This is most likely due to the e-myths and preconceptions we discussed previously. You may get your hopes up so high on the immediate success that even a minor delay causes you to fall into an emotional tailspin. This is also caused by the harsh realization that you can’t do everything alone, which leads you to question if you should continue down this path.

The feeling of despair can be so intense that it leads to a sense of self-loss, where you feel like you’re not the same person you used to be. This is usually due to the change in lifestyle and the expectations you had.

I hope this article has helped you see that running a business is not easy, and there are many different aspects

Use our FREE test drive to get the business coaching you need to avoid feeling overwhelmed and defeated.

YOUR MARKETING COACH

Dr. Mike Montes

Download my new book and I’ll show you how you
can triple your current number of leads, double
your sales and increase your annual revenue by
$50,000 or more…and WITHOUT spending a cent on
marketing or advertising… GUARANTEED!

Let them catch the vision

Let them catch the vision

We’re going to go through the 5 essential keys to a successful and reusable marketing campaign launch. Once you have these basics down, you can use them over and over again.

The 5 essential keys are:

• Define your Unique Selling Proposition (USP)
• Put an effective sales offer to work
• Avoid the marketing pitfalls
• Use a world-class marketing perspective
• Get results!

We’ll go through each one of these, so you can see exactly how to use them and how they all affect the overall outcome of your marketing campaign.

Define your Unique Selling Proposition (USP)

Take the time to ask yourself some questions from the perspective of the customers/clients. What would it take to get your attention? What needs do you have that need to be met? What are the promises you want to be fulfilled?

Once you know the answers to these questions you can start putting together a plan to meet these needs. Then take a look at what USP your competitors are using to help you develop your own USP. Your USP is what you are “promising” your customers/clients.

This is what’s going to set you apart from your competition.

Put an effective sales offer to work

To develop an effective sales plan, you need to:

1. Put together a headline that gets immediate attention.
2. Share benefits of your products/services speaking from the customers’ perspective.
3. Identify the specific needs met by your products/services.
4. Make it easy to do business with you by offer guarantees.
5. Share your specific sales proposition.
6. Walk your customers/clients through how they should respond and act.
7. Motivate with a call to action.

What this all means is, you need to put together what makes your products/services special and compel customers to buy. If they don’t feel like they NEED your product, they won’t buy. You need to answer a question, solve a problem or feed an obsession.

You need to provide them with all the information they need to make an informed and confident decision. Buyer’s remorse is one of the worst things that can happen.

Avoid the marketing pitfalls

There are 5 major marketing pitfalls many businesses fall into and you should avoid:

• Ignore market testing and push on with an inaccurate plan.
• Offer an incomplete case, or reasons, throughout their marketing plan.
• Fail to notice the needs of their prospective customers/clients.
• Fail to diversify their marketing options.
• Fail to get market opinions on their offers.

These are all areas to avoid. If you’ve been working through these lessons, avoiding these pitfalls should be easy and natural.

Use a world-class marketing perspective

World-Class marketing perspective is important, especially if you want to attract customers/clients from all over the world. You can do this a number of different techniques and activities:

1. Keep a marketing journal and scribble down anything innovate you see.
2. Keep encouraging your marketing department, or yourself, to try new things and dump the ones that aren’t working.
3. Order from your own company under a different name and analyze the process of ordering, shipping, online store, customer service and the product itself. This will show you where the areas for improvement in the customer experience.
4. Read every quality ad you can find and keep a file for future ideas to consider.
5. When out in public, watch how consumers behave in different situations and how they consider their purchases.
6. Step down a notch or two and work on the front lines with your sales and customer service staff.
7. Continuously acknowledge your staff, vendors and customers. Everyone works and shops better when they feel appreciated.
8. Always listen to feedback from employees and customers.
9. Continuously test markets, ads, and marketing techniques. This is the only way to stay successful and know what’s working and, more importantly, what’s not.
10. Offer more information in your marketing than anyone else. The more information you offer, the more products/services you’ll sell.
11. A great marketing plan can only get better. Continue to fine-tune and refine your marketing plan based on testing results and feedback.
12. Be classy in your marketing. Make sure your marketing and advertising fits your company image, products/service and quality.
13. Improve your best marketing areas and drop those that aren’t working.
14. Focus on what you say, not how you say it. The best marketing ideas turn into the best marketing naturally.
15. Develop all your ads, campaigns and sales materials with an attention to compelling and factual information.

By using these techniques you can put your name out there to the world and become one of the top brands in your industry.

Get results!

The last area we are going to talk about is the best-satisfied customers. If your customers aren’t satisfied, you’ve wasted all your marketing resources and all chance of positive word-of-mouth advertising. You can satisfy your customers by:

• Providing quality products/services
• Providing high quality customer service
• Providing a low-pressure, highly informative sales experience
• Taking all the risk away with a great guarantee

To generate more business there are a couple of simple techniques that work every time:

• Build your database with a contest.
• Do regular mailings with sales, discounts, or other incentives.
• Find other creative ways to keep your current customers coming back for more.

“As long as the reward is directly related to your product or service, you can’t lose. Why not get started today? It’s so simple, it’s so seldom done, and it’s so profitable. And that’s the bottom line.” Jay Abraham

It is so simple! So, why aren’t you starting today? We can help you put together a great marketing plan that will get you results. Try our FREE test drive and find the tools and resources you need to be built by some of the biggest names in the marketing world.

YOUR MARKETING COACH

Dr. Mike Montes

Download my new book and I’ll show you how you
can triple your current number of leads, double
your sales and increase your annual revenue by
$50,000 or more…and WITHOUT spending a cent on
marketing or advertising… GUARANTEED!

Educate Your Customers

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential…they’ve already bought from you!

Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.

Here are a couple of key elements to use to retain your current customers:

  1. Stay in contact: This means by phone, email, e-newsletter, in person-by pigeon if you have too!
  2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are being supported for their purchase and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
  3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option.
  4. Integrity: Using good business practices and simply upholding integrity, dignity and honesty go along way with customers. Let’s face it, there’s a lot of swindling and crap out there and the safer and more confident you make your customers feel, the more they will trust you and that makes for an amazingly supportive and loyal customer.

There are three cornerstone ideas to a successful business:

  • Quality product/service
  • Offering useful products/services that solve a problem for or enhance the life of a customer
  • Offer subjects your customers find interesting

Use this approach of educating your customers and offering them real information and insight and you will be rewarded with loyalty and success.

Stop wasting all your time on new prospects while your current customers fall by the wayside!

As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and diverts some of your resources into reselling, upselling, cross-selling to those same customers. In every ways possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”

So, there it is! Remember, we can help you put together the resources and tools to do exactly that. We can help you educate your customers and you can watch the benefits pay offer many-fold.