Entries Tagged as 'Highway #1 : Business Success'

Only Business Sector NOT Suffering From Credit Crunch

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Helen Loveless, in The Mail on Sunday reports on the ONLY business sector not suffering from the credit crunch … can you guess what it is?  She says:

“THE credit crunch has hit many companies hard, but online businesses seem to be bucking the trend.

In the first six months of this year shoppers spent more than £26 billion online – up 38 per cent on 2007 and equivalent to 17p in every £1.

Experts say this could be a good time to set up an online business.

Many software providers, such as Microsoft and Apple, include free website creation tools in their business packages, which allow users to create websites.

And from as little as £20 a year would-be business owners can buy software enabling them to build a website in less than a day.

Geoff Milner, 57, from Herne Bay, Kent, set up greetings card business Yew Tree Trading last September after buying a software package from provider Mr Site for £99 a year. The software gives him up to 99 website pages.

His business has grown so quickly that he now supplies other websites.

Geoff says: ‘I hated computers so I was surprised how easy it was to set up my site. Effectively I set up a business for £99.’

Ian Ogilvie has been running an organic food store in Camden, north London, since 1980. Last year, he set up bumblebeenaturalfoods using a basic software package.

‘The software is very simple and flexible and we can do as little or as much to the site as we want, changing it ourselves rather than having to pay a developer,’ he says.”

END OF ARTICLE

Nicola says: Any good website designer will use a system that will let you make changes to your own site, this is one way to tell if your designer has your best interests at heart, or wants to have you over a barrel with high priced changes to your site.  And remember that website designers are NOT internet marketers - it’s all very well having a pretty site, but if it doesn’t get traffic and make sales, it’s worse than useless.

And DIY can cost you money.  I have watched many clients take a year to set up a site, learning from scratch.  I recommend setting up a blog first, and filling it with good, free content, to attract the search engines, then bolting that onto various sales pages, to promote your product or service.  I always ask Money Gym clients “do you have more time or more money than time?” and then, if they are in a hurry, recommend outsourcing the setup, but then learning how to, then taking control of ongoing changes.

There are certain elements of a web business above and beyond a website though, you need an enticing offer, a range of products at different prices points, a whitelisted email list host like Total Business Cart, which also offers e-commerce facilities, Adtracking (so you know which keywords are converting to sales), and an in-house affiliate scheme.

Joint venture partners are essential, once you have grown a good list, and a professional affiliate scheme will make those easier to attract.

But more and more, we are recommending to our Money Gym clients, look for some sort of continuity programme.  A membership site adds value to your customers, lends itself to many different niches, and if you need further convincing, work it out…. just 17,000 people giving you £5 a month, makes you a million a year!

We will be covering all these steps to creating a successful online business, in an amazingly good value two-day event on 20th / 21st September….

“The Money Gym Presents….Brett McFall” where the ticket price (ex VAT) is being donated to Great Ormond Street Hospital.

Secure your seat here http://brettmcfallLIVE.com


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Find Your Finance Cornerstone

(This article is reproduced with kind permission of Mike Southon, international business speaker, weekly columnist for the Financial Times, entrepreneur mentor and co-author with Chris West of “The Beermat Entrepreneur” series of books).

apicture Find Your Finance Cornerstone Mike Southon says:  This is my column that will feature in Saturday’s Financial Times, which can be found in the entrepreneurship pages of the Money section. You can also find my columns on the FT web site here )

One of the symptoms of a credit crunch moving seamlessly into a recession is the unfortunate chore of the entrepreneur spending more time with their bank manager.

This might well be to obtain more credit to cope with a short-term cash-flow problem, or to explain the restructuring required to take best advantage of unpredictable market conditions. Whatever the desired outcome, this is unlikely to be a meeting which either party regards with keen anticipation.

The challenge is that the entrepreneur and the bank manager speak two completely different languages. The entrepreneur likes to talk about new ideas and opportunities, about changing the world and making a difference and being recognised in the street. The bank manager is probably under strict instructions from above to reduce the risk in their portfolio of accounts, and can only express this in the language of the spreadsheet and the bottom line.

Meetings between entrepreneurs and banks managers can be tense and sometimes even characterised by strong language. Many years ago in my first start-up our CEO went to open a bank account. He was back very quickly and in a bad mood, so we realised the meeting had not gone well.

In his view, the bank manager was an idiot; he had not understood how clever our CEO was, how we clearly had an unbeatable business proposition and how much money we all were all going to make, including the bank.

Our CEO was ultimately right about this. We did indeed sell the company for a lot of money only five years later. But back on day one we had a small problem; we did not even have a bank account yet.

Understanding finance is one of the toughest challenges for an entrepreneur, especially if they come from a sales or technical background. It is a very large topic with constantly changing rules, and it was a real challenge for Chris West to summarise this into simple terms in Finance on a Beermat.

West worked with finance experts Stephen King and Jeff Macklin, and while there are indeed chapters on double-entry bookkeeping and tax, the book starts with simple and straightforward advice: before you do anything, you should find yourself a Finance Cornerstone.

This is very unlikely to be a full-time employee from day one; most people have a ‘virtual’ Finance Cornerstone, someone who comes perhaps one day a month and puts some order to your receipts and invoices in preparation for submitting your accounts.

But we make an important distinction between an accountant and a Finance Cornerstone.

An accountant is essentially reactive; they will do your books and then tell you that you have gone broke. A Finance Cornerstone is pro-active; they tell you in advance that unless you do certain things, you will go broke at some time in the future.

Even if they only come in one day a month, they understand your business and can advise on how to scale up your business when times are good, and how to scale down your business when they are not.

Most importantly, they speak the language of the bank manager, and should always accompany you to any such meetings. The entrepreneur should make some introductory remarks, and then leave the running of the meeting to the Finance Cornerstone. In particular, any promises made about the provision of security or repayment of loans should be made by someone who not only understands the mindset of the bank manager, but who is also more likely to be trusted to keep those promises.

And if circumstances change and repayment terms need to be negotiated, this is best done by a professional, who will present a case that is based on facts rather than emotions. After all, the bank is in the business of lending money with interest, so as long as they think you will not let them down, they are more likely to be sympathetic to your cause.

In my first start-up we were lucky that another of our shareholders, the CEO’s brother, was a vice-president of Goldman Sachs, and thus able to smooth things over with the bank. If you are not in this happy situation, then I recommend one of the organisations that provide virtual Finance Cornerstones, such as King and Macklin’s company FDUK.

Alternatively, you can even ask your bank manager to recommend someone. I am sure they will be delighted to help.

Finance on a Beermat by Chris West, Stephen King and Jeff Macklin is published by Random House Business Books.

Finance on a Beermat (Second edition):
http://tinyurl.com/6jlpxj


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What Is YOUR Company Worth Right Now?

With thanks to Thomas Power of Ecademy for twittering this - the quick 11-step process revealed a very surprising outcome for us at The Money Gym!

“YouNoodle, the online platform for the global entrepreneurial community, today introduced Startup Predictor™, the first technology that analyzes data on early-stage startups and generates a scientific prediction of the companies’ future outcomes, as well as the first standardized score for pre-funded startups.

The first version of Startup Predictor has been made publicly-available and is a free Web-based service that allows entrepreneurs, investors and other startup supporters to enter information about early-stage companies through an online test. Users receive an estimate of the startup company’s valuation in three years, as well as a “YouNoodle Score” — a number similar to a credit rating, based on a 1,000-point scale, that gauges the feasibility and promise of the company’s future.

After taking the free online test, users will also be matched with other YouNoodle members determined by the YouNoodle search engine to be of value to that particular startup company — potential employees, advisors, journalists, service providers, business partners and more.

“This is the first time technology has been used to help manage risk and predict growth for early-stage companies,” says Bob Goodson, CEO and co-founder of YouNoodle. “For more established companies, quantitative, systematic decision-making for investors is standard - using technology-driven credit rating services such as Moody’s and Standard & Poor’s. But until now, no similar system has existed for companies in their earliest stages.”

Startup Predictor uses a sophisticated and patent-pending algorithm that evaluates a number of variables, including backgrounds of the founders and advisors, business concept and team dynamics. Users must input details about key team members or advisors, relationships between team members, current or future products, patentable technology, and any capital invested by the founding team.

To determine the information needed to generate an accurate and reliable score, YouNoodle’s development team studied thousands of current and past startups, using both publicly available and proprietary data, to determine patterns of predictive factors for early-stage companies’ success.

“We learned that a company’s DNA — the fundamental things that can strongly influence its future success — is generally formed in the very first days that the company is in business,” says Kirill Makharinsky, co-founder of YouNoodle, who led the development of the mathematical algorithm behind Startup Predictor. “Our technology analyzes data based on those early days — going back to the pure concept and the bones of the business built by the founders. Our research has proven that the patterns in the data we measure from those days can be surprisingly prophetic about how a company will perform in the future.”

Calibrated specifically for companies that were founded recently and have not yet received capital investments in its first version, Startup Predictor is the first in a series of decision-making tools YouNoodle plans to introduce for the startup industry, including predictive tools for later-stage companies…..”

READ MORE & FIND OUT HOW MUCH YOUR COMPANY MIGHT BE WORTH >>>


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High Herby Praise For Silver

MadeleineGiddens High Herby Praise For SilverMadeleine Giddens of MadAboutHerbs.co.uk and Money Gym Club Silver Member says:

I have been a Silver member of The Money Gym Club since it first started but only recently realised the amount of information accessible to me due to being overwhelmed by other marketing newsletters.

The Internet Home Study Program alone is worth the subscription fee; it covers all the basics of setting up a website and marketing it and thanks to the keyword research section I have finally sorted out all the keywords that have the most traffic so I can focus on these for articles, hubpages, google adwords etc and also identified the ones that have high traffic but low competition for advertisers so are ideal as part of my Google Adwords campaign.

There are many hours of (wealth creation) audio available which can be downloaded and listened to at leisure covering a wealth of topics.

The (private) google group is incredibly useful and full of very helpful and experienced people should you have any particular questions on any aspects of wealth creation.  I finalised my ebook title with the help of this group as have many others, ebook pricing advice has also been given.

It is inspiring to read of other people’s success and also to realise that we all struggle with similar issues and can help each other through them.  It is also another resource that can be searched at a later stage when you are ready for another lane of the wealth highway!

The Ezine is inspiring and also has useful articles which are bang up to date.  It also together with the blog will keep you up to date with the best of the other internet marketeers out there thus reducing the overwhelm factor.

It will take you a while to get through all the existing material available and more is added regularly giving you constant value for money.  I highly recommend you give it a try.

Madeleine Giddens

MadAboutHerbs.co.uk


bookmark High Herby Praise For Silver

Evil Entrepreneurs - Or A Force For Good

Entrepreneurs don’t have a choice.  We have to do what we do - it’s as crucial to us as breathing. But many people think badly of us - and I have experienced this at first hand, many times.

So, with his name on my lips for the second time this week (read my “Note From Nicola: Wealth Coach Diaries” for the other mention….it is with many thanks to Yanik Silver for posting this inspirational and moving video about entrepreneurialism, on his blog.  This presentation by jon Butcher, was first delivered at Necker Island, to an audience including Yanik and Richard Branson among others.  Sounds like an amazing event…..

Yanik says on his blog “A few months ago, while at Necker Island, one of guests there, Jon Butcher, showed a video to everyone there during our Virgin Unite brainstorming session. We didn’t know what to expect but we politely obliged.After it was done, it seemed to have a tremendous impact on everyone there including Sir Richard Branson. You see, Jon had taken a lot of our thoughts on entrepreneurship, value creation and even the morality of capitalism that were swimming around in our heads, and finally expressed it. Yes, in our hearts, as entrepreneurs, we seem to instinctively realize as “producers” we provide incredible value – but have never stopped to put it together in this way.”

Online Videos by Veoh.com


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Work At Home - A Step By Step Plan

There is a movement going on. A major shift in the working behaviour of people all around the world. Some even call it a revolution.

It is a move towards working from home, using The Internet as a means for creating wealth. In many cases, this begins as a supplementary income, a means of topping up a poor salary, or to earn the money required for a holiday or a car.  But as women particularly increasingly decide that they have had enough of doing low paid jobs just to be able to have a family, or new mums (mom’s in the USA!) decide they don’t want to go back to the corporate rat race, they start to look at a home-based business.

And the internet, with it’s low start up costs, is perfect for that.  Increasingly, people are moving home and conducting their online business activities full-time.

But it’s like the wild wild west, in America at the turn of the century….there are many people out there waiting to sell you a useless map of where to find the gold rather than sell you a shovel and some way to figure out the gold for yourself.

Just as many are failing as succeeding.

It seems that an aptitude is needed, some call it a certain mindset, in order to succeed with an online business.  Many people completely underestimate the work involved, the steep learning curve, the ability to keep growing and learning.  And so they give up at the first hurdle because they just don’t know what to expect.

Nicola Cairncross, founder of The Money Gym is regarded as a bit of an internet marketing expert - whether you want to take your existing real-world business online, or create an income online from a hobby or a passion.

She says “Something all online successes have in common is Viral Marketing. This phenomenon thrives on The Internet. In previous worlds it was known as word-of-mouth marketing, or growth by recommendation.”
But whatever we call it, The Internet has taken this form of growth to a new dimension by lubricating the means of pass-on.

All too often, Internet Marketers imagine they have got the next YouTube or Facebook, but because they have omitted some valuable viral marketing principals in their business plan, they fail.

So how can you learn what these principals are, and how can you be sure to include them in the plans for your online venture?

Well - it is possible to read about viral marketing, and there are numerous sites and services for applying the viral factor to your business. But to really understand it, and be sure of using it well, there is The Freedom Class.

This is a live laptop seminar held over a weekend at exclusive venues around the world, by Tim Brocklehurst, a recognized expert in the field.

In two days, delegates of these Freedom Classes - including Nicola & Steve and many Money Gym clients, learned and put into action, a complete business plan so that they can move forwards with a virally-growing business, and experience what it means to have exponential growth.

For full details of The Freedom Class go to this link:

http://www.tinyurl.com/actonfreedom


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Credit Crunch Beating Tool #1 - The Internet

Nicola here, with a very important and time sensitive message that will help you beat the credit crunch. As we head into the time of year when, traditionally, people start to think about their life and their future, I’m writing to you because I want you to think seriously about THE most amazing wealth creation opportunity I believe we have seen for the last 150 or so years. One that will help you to stop caring about small hikes in fuel costs, slight increases in the cost of living, a half per cent rise in your mortgage rate.

I’m talking, of course, about the internet. Now, before you pooh pooh me - listen up!

I’ve been mad about the internet as a marketing medium for years, but principally for marketing real world businesses.

Real World Success #1:

I was taking bookings online at my boutique hotel, The Acacia - see the old website here www.TheAcacia.com - before the builders had even started!!

Real World Success #2:

I built the Money Gym (www.TheMoneyGym.com ) from an idea to a six figure turnover business within just 3 years, with a website, an ezine and some business cards that I never used!

BUT….

As we go to all the big Internet Marketing Conferences, we kept hearing stories of people who made a million in a day with selling one ebook, but were never able to duplicate that incredible success for ourselves.  And for those facing the credit crunch right now….wouldn’t it be nice to make enough extra cash that any vagaries in our economy didn’t matter so much?

We - and many of our clients - regularly make smallish and regular amounts of money from esoteric niche sites, but even when we explored apparently really hot niches, like guinea pig whispering, or brown recluse spiders, or restaurant business plans, or Bed In A Bag sets, the millions still eluded us.

Looking back, that was mainly because of three things:

WHY DO SOME FOLKS NOT MAKE A GREAT LIVING ONLINE?

1. Not enough attention to detail - we just were not setting up the backend systems needed to automate sales

2. No viral growth element to our business - and no idea how to make it so

3. We DID split test some elements (one headline against another for instance) but we had no idea how to expand on that till we had the ultimate super-model performing sales webpages.

But now we do….we have the skills and we have the tools. And we want to share them ALL with you.

We have the skills to help real world business harness the power of internet marketing, and we have the skills to help people with just one ebook on a specialist subject wring the most money out of that product, while building up a virally charged email list of people who will want the next product being prepared (notice I didn’t say created, because we know where you can get quality products to adapt and make your very own).

As I say, we really want you to be able to help you make money online too.

Our Internet Marketing Home Study System is a great video based 12-step tuition for those just getting started online but to reflect it’s value, we have been charging £1497 for it - and it’s still worth many times that. Check out this recent testimonial from an 18 year old…

“Hi Nichola, Thank you once again for your giving me the internet home study program for a free trial, when I met you at the Institute of Directors meeting where you were doing your speech. I have been through the program once now and would like to give you some testimonials as to the quality of the program. I would have been lost without it! Many thanks, Mark Williams (the young lad with his mum)”

But we want to make it more affordable and available to more people.

GET YOUR HANDS ON THIS STUDY SYSTEM - FOR FREE!

So we are going to make it available - totally free of charge - to all Money Gym Silver members, for as long as they stay current members. This offer is available to fully paying Silver Members.

To this end, I want you to seriously consider upgrading your Money Gym Club membership to the full Silver Level, which involves an investment of just £27.50 a month.

You are getting a product that sells regularly at £1497 plus all the Money Gym Silver benefits for £27.50 a month.

In fact, it’s better than that, because if you buy our ebook for just £25.00, you get the first month Silver Membership free - a saving of another £2.50.

(Well, every little helps!)

The reason I’m writing to YOU specifically is because I think you want:

1. To learn how to make money online from a passion, hobby or interest

2. To learn how to market your real world business online more effectively

3. To find out if all those stories you hear about making money online are true!

SILVER MEMBERSHIP ALREADY INCLUDES:

* £50 off any of our acclaimed Money Gym workshops – this is
worth up to £450 a year if you come to six MGP and all three LTM days

Find out more here: Let’s Talk Money | Money Gym Presents

* Live wealth coaching by webinar once a month (recorded for MP3 download)

* Mixing with millionaire experts at the events and on the Forums

* Get your questions answered whenever you need support or feedback

* Instant downloads, audio and video, bucket loads of advice on wealth creation right away

* 24/7 access to our private and exclusive wealth creation Google Group

QUESTIONS?

Click the comments link below this post and ask any questions you have about this offer - I’ll be there, and will reply on the blog.

GUARANTEE

I want you to be completely without risk…so here’s my guarantee:
If you don’t think your Silver membership is worth it at any time, you can just email steve@themoneygym.com and he will downgrede your account back to the Free Level at any time.

HOW DO I GET STARTED?

It’s really easy to upgrade and get started:

1. Just visit our ebook sales page at http://www.themoneygym.com/book and click the button at the end to buy a copy for £25.00 (if you already have one you can give it away as a present or a competition prize)

2. Then click here http://www.themoneygymclub.com/subscribe and subscribe - use a NEW EMAIL ADDRESS if you are already a member - using the promo code you will be sent by email.

3. Email steve@themoneygym.com with the email address of your old account, and he will delete it for you. (If you are promoting us already via an affiliate link, skip this step and leave your old account running).

WHAT WILL HAPPEN NEXT?

You will gain immediate access to the “All Members” homepage, just click on the Silver button or the Internet System button to go to those areas.

You will ALSO receive an email giving you your affiliate code. This will help you promote Money Gym Silver Level and earn £10 a month on a recurring basis.

DO YOU HAVE TO BE 18 YEAR OLD TO GET ONLINE?

No, of course not! Ann Harrison is just a touch more mature and she got a LOT out of the Internet Marketing Home Study System…

“A couple of years ago, I signed up for Nicola’s “Internet Marketing Home Study System” and this is where I learned almost everything I know about having an on-line presence - building a website, Google advertising, blogging - the lot!” Ann Harrison http://contemporaryretirement.typepad.com/

OK, that’s it from me.

I want you to join The Money Gym Silver Level to enable us to help you.

We can’t help you if you don’t join!

Are you going to take action?

http://www.themoneygym.com/book

See you inside the club site!

Nicola

P.S. LIMITED TIME OFFER! No it really is. You need to do this right NOW because we are split testing this offer and may withdraw it from new customers at any time. Once joined, you however, will have access for life, as long as you keep your membership current.


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Top 5 Business Mistakes - Pt 5

We have been covering the Top 5 Mistakes most self-employed people and business make, when trying to make moneyl

If you have missed any of these emails, you can read Business Mistakes 1-5 at the blog at http://www.TheMoneyGym.com/blog - just search using the little search box and the key words “business mistakes”. You will also find related articles suggested by the software.

What were those Top 5 Mistakes?

1. We are unclear about what we offer
2. We are unclear about who we are offering it to
3. We keep ourselves a secret
4. We imagine we are doing things when we are actually just thinking about it
5. We don’t believe we are worth it (and often undercharge!)

So our final mistake is to secretly feel that we are not worth paying for our product or service, or certainly not worth charging enough.

Actually it’s a bit more fundatmental than that…we often don’t have a clue about what we should be charging, in order to make a great living, let alone whether we feel comfortable about charging that amount.

We often just price our product or service around the lowest level that our competitors are - and we have no idea if THEY are making any money!!

I have created a report called “Fee Setting For Lone Rangers” which I was going to drop in here but it’s too long.

If you haven’t seen it yet, it’s well worth downloading, as it will help you work out what to charge.

http://www.themoneygymmvs.com/mvs

(Login, or register to create a free account here)

Then, of course, the issue is around whether you think you are worth it.

Similarly, my free report “Natural Marketing For Lone Rangers” addresses the real world sales and marketing challenges, while my “Business Success 21st Century Style” report addresses online marketing and how to do that easily and inexpensively.

Feel free to download those too from

http://www.themoneygymmvs.com/mvs - login to your account and scroll down the homepage to find them.

YOUR 3 ACTION STEPS:

1. Read the rest of the “Mistakes” this week

2. Do a quick search using the box - top right - on “business success”

3. Join The Money Gym Silver Membership or come along to our one of our excellent “Money Gym Presents…..” workshops in Central London.

THEN WE CAN HELP YOU TO:

1. Work out what you are worth and who can afford you

2. Help you reach those people

3. Deal with an issues that come up for you, when charging what you need to charge, to make a great life

Sound good?

Great!

See you there!

Nicola


bookmark Top 5 Business Mistakes - Pt 5

Top 5 Business Mistakes - Pt 4

I’m sharing with you the Top 5 Mistakes most self-employed people and businesses make, when trying to make money.

What were those Top 5 Mistakes?

1. We are unclear about what we offer

2. We are unclear about who we are offering it to

3. We keep ourselves a secret!

4. We imagine we are doing things when we are actually just thinking about it

5. We don’t believe we are worth it (and often undercharge!)

Today I’ll cover Mistake #4.

1. We imagine we are doing things when we are actually just thinking about it

This mistake is even worse than the “Entrepreneur’s Trap of Busyness” as described in Joseph Jaworski’s excellent book “Synchronicity: The Inner Path of Leadership”.

Jaworski outlined the challenge business owners and leaders have, of always having to be busy doing stuff, with the result that they never spend time just thinking about their business strategically, or spend time working “on” their business but always have to be working “in” their business.

Mistake #4 goes one step further and my realisation of it came about from personal experience. Let me tell you the story!

One day, early in my coaching career, I panicked about not having enough clients. I scheduled a call to my first ever coach, Rachel Turner of Kaizen Coaching, to discuss emergency measures I could take.

However, before the call, I heard Rachel’s voice in my head (sign of a good coach, note!) asking me, “well, Nicola, just what HAVE you done to attract clients?”

And I thought to myself, well, we discussed this, this and that, and I COULD have done this, this and that. But at the end of the day, what HAVE I actually done?

Not much at all, was the truthful answer.

It is almost as though we don’t take action because we have already convinced ourselves that it won’t work. And this moment of insight was all it required for me to think “well, I don’t want to tell her these things don’t work, because I haven’t actually tried any of them”. Is it an inbuilt cynicism, a bit like the cynicism that stopped me ever reading personal development or wealth creation books in the past?

So the coaching call was a bit redundant in the end, because it was all about me reporting in to Rachel on the actions taken since the day before (some of which were already working!) rather than me moaning on to my coach about all the things I hadn’t done, which weren’t working.

Interesting huh?

Whenever I speak to my clients and they are complaining that they haven’t got enough clients, I always ask them what they are actually doing, on a regular basis, to attract clients.

Not what they think they are doing, or what they think they could do, or what they have heard works, or does not work. But what they are actually doing day by day, week by week. (I also ask what has worked in the past, what they used to do that they are not doing now).

Not much is usually the answer, and certainly not enough of the things that work!

It’s all about comfort zones I’ve decided. We want to take the actions that we are comfortable with rather than the actions that produce results.

So what actions do the successful companies in your field take, that you are not taking?

What are the critical success factors in your industry? Which are you missing?

YOUR 3 ACTION STEPS:

1. Do a search here on the blog for other articles on “business success”

2. Download another free report here

http://www.themoneygymmvs.com/mvs

3. Join Money Gym Silver or come along to one of our “Money Gym Presents…..” workshops in Central London.

THEN WE CAN HELP YOU TO:

1. Establish what the critical success factors are, for your business

2. Work out how to get the ones you are missing or don’t think you can afford

3. Work out what works in your business and what doesn’t, and support you to do more of what works.

Sound good?

Great!

See you there!

Nicola


bookmark Top 5 Business Mistakes - Pt 4

Top 5 Business Mistakes - Pt 3

This week I started to share with you the Top 5 Mistakes most self-employed people and business make, when trying to make money?

What were those Top 5 Mistakes?

1.  We are unclear about what we offer
2.  We are unclear about who we are offering it to
3.  We keep ourselves a secret!
4.  We imagine we are doing things when we are actually just thinking about it
5.  We don’t believe we are worth it (and often undercharge!)

Let me elaborate a bit…..today I’ll cover Mistake #3.

1.  We keep ourselves a secret!

Many times, when talking to Money Gym clients about why they are not achieving the ezine signups and sales they would like, whether it be their own products or affiliate sales (where you recommend other people’s stuff and earn commission), I am shocked to hear that they expect to make sales from tiny trickles of traffic.

I tell them, over and over again, something that I was taught by my first business coach Chris Barrow, it takes getting in front of 1000 people to make a sale.

This formula comes from Chris’ background in financial services sales - a tough environment - where he reckoned that you had to call 1000 people to get 100 to talk to you.

You have to talk to 100 people to get 10 appointments.

You have to get 10 appointments to make one sale.

Let me qualify this as I think the word “sale” is misleading.  It suggests that if you are a “better” or more aggressive sales person, you can convert more appointments to sales.

I prefer to say that, if you can get 10 appointments to discuss whether your product or service is a fit, for that potential client or customers problem or pain, then one person will BUY.

See the subtle difference?  They will buy, rather than you will sell.  Takes all the pressure off you actually.

So, following this through, assuming that you get in front of enough of the right kind of people, with a great solution for their problem, then they will buy your solution.

He went on to say that you need to build a reservoir of potential future customers who know who you are and what you do, and more importantly what you can DO FOR THEM.

Filling the reservoir in the early days is hard work.  Imagine a little stream running along the ground till it meets a big hole, and starts, very slowly to fill that hole up with water.  Eventually it will, and then, for every new drop that goes in, a drop will spill out and those are your customers.

That reservoir is filled up out of the 100 people you talk to, out of the 1000 calls.  The 10 people are the ones that express at interest in your product or service.  The one person out of the 10 is the one that buys.

Tranlating that for a second to the online world, we say that you need 1000 unique visitors coming to your website, to be able to attract 100 potential future customers into your reservoir of people who know who you are and what you do, and how your solution can help them.

You need to ask yourself this burning question!

If I need to get in front of 1000 people to make a sale, how many sales do I want, and how quickly can I get in front of the required number

But what do we do, when we are new in business?

We keep ourselves a secret!

We take tiny marketing actions rather than huge marketing actions.

We put notices on boards in supermarkets and health clubs.  We give a few cards to our hairdressers, our garage, our friends.

In short, we do everything we can to avoid exposing ourselves to the large numbers of people that we need to expose ourselves to, in order to build our reservoir and make the sales.

So now you know that, what can you do differently?

Think about the billion people online, on broadband, right now.

Think about the huge overseas markets coming online and getting access to Google, Yahoo, MSN, AOL and the other big search engines.

Think about the easiest, fastest, cheapest ways to get in front of thousands, hundreds of thousands if not millions of potential future customers.

Start with a blog, even if you haven’t thought of a product or service yet.

Tell your story, your story of discovery, your tale of venturing out into the big wide online world.

I’d love to read it!

YOUR 3 ACTION STEPS:

1.  Read the rest of my emails this week

2.  Listen to Richard White and Daniel Wagner’s webinars on www.MoneyGymRadio.com - they were great!

3.  Join Money Gym Silver or come along to one of our “Money Gym Presents…..” workshops in Central London.

THEN WE CAN HELP YOU TO:

1.  Start a blog right now even if you don’t know what to sell - tell your story of discovery.  The search engines will come and then so will the visitors.

2.  Look for good products or services, sign up to their affiliate schemes and recommend them to your visitors.

3.  Think about your expertise, skills, knowledge, experiences and wonder if any of the billion people online could learn anything from you.  Create ebooks, how to manuals, camtasia videos, memberships sites.  Then go out there and find the people who need you and want to buy from you.

Sound good?

Great!

See you there!

Nicola


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