Your Positioning, Your Market and the Fastest, Easiest Way to Double Your Business Income - An Optimising Business Report

From Overwhelm To On-The-Money Special Report

By Angela Wright MBE

put this logo at the foot of the page A Quick And Easy Plan To Help

You Maximize The Profits Your Business Generates In The

Shortest Time Possible

YOUR POSITIONING, YOUR MARKET AND THE FASTEST, EASIEST WAY TO DOUBLE YOUR BUSINESS INCOME - AN OPTIMISING BUSINESS REPORT.doc

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Copyright Notices Copyright Optimising Business 201g All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical or electronic, including photocopying and recording, or by any information and retrieval system. The Licensee is authorised to use any of the information in this publication for his or her own use only in carrying out duties necessary to fulfill their role to the maximum. Published by: Optimising Business Sunshine Beach 4567 QLD Australia Tel: +61 (0) 7 5474 9790 Legal Notices While all attempts have been made to verify information provided in this publication, neither the Author nor the Publisher assumes any responsibility for errors, omissions, or contrary interpretation of the subject matter given in this product. The Publisher wishes to stress that the information contained in this product may be subject to varying country and professional organisations laws or regulations. The Licensee must accept full responsibility for determining the legality and/or ethical character of any and all business transactions and/or practices adopted and enacted in his or her particular field and geographic location, whether or not those transactions and/or practices are suggested, either directly or indirectly, in this program.



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Your Positioning, Your Market And The Fastest, Easiest, Most Profitable Way To Double Your Business Income

The purpose of a business... any business... in fact, your business...

is to profitably satisfy the wants and needs of its customers. And the more profitably you can serve your customers and solve their problems, the more successful your business will be.

One of the biggest problems business owners have, is to have no

plan for growing their businesses. They jump from idea to idea, hoping that sooner or later, something will work for them, and somehow, magically, their business will take off or will suddenly become more profitable.

Well, it just doesnt work that way. Sure, there are some businesses

that just happen to be in the right place at the right time, and when market conditions are just right, get swept along in the wake. But those stories are the exception and not the rule.

For the majority of businesses, there needs to be a little thought, a

little planning, to make a significant difference in the growth and success of the operation.

Before we look at growing your business, lets take a step back and

check where we are with identifying who you are and who is your target market.

Think back to when someone last asked you about your business. Did

you have an easy answer, something to prompt more questions and maybe a sale there and then? No? Well, when did you last consider your business positioning statement?

After all, if you cant figure out what you do in just a few words, how

can you expect your potential customers to understand, and choose you to fulfill their needs?

Im always amazed when a business or organization doesnt have a positioning statement. After all, how do you expect anyone to understand what you do if you dont clearly know this yourself?



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What is a positioning statement? Its the secret ingredient for any integrated marketing programme

and the easiest way to communicate what your business does. Why you want a positioning statement:

Adds clarity and focus to the value you provide customers Acts as a rudder to keep your messaging consistent, reducing the

chances of confusing customers Provides direction to how you communicate

Think of the positioning statement as what prospects say about you after you leave the room. Whats the one thing you want them to remember? If you cant craft a focused positioning statement, your prospects and customers will infer one for you and you may not like what they come up with. Be proactive take the time to create one and use it to guide your business growth. This is where many people come unstuck so heres a foolproof fill in the blanks way for you to wite your essential positioning statement right now:

To _________________________ (one target/person)

(product/company name)_______________ is the one

(category) ________________________________ that

(key customer benefit) ____________________ unlike

(differentiator) ________________________________ eg

To a Frequent Flyer Business Executive FlyRight is the one jet lag remedy that

allows you to stay healthy through the flights and arrive at your destination feeling as invigorated as when you left so you can get right to work

unlike sleeping pills and caffeinated drinks that provide temporary relief but take a huge toll on productivity later on



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If you get stuck, here are some questions to ask: Why did we build/create this business/product/service Whats the personas (ie your perfect customers) perception of

us How did he/she/they cope without our product/service? What does the competition offer? How are they perceived?

What are their weaknesses? What are their strengths? What value do we really bring to the table? What are our first, bests and onlys? This same format and process can be used with any type of

business. And it can be used effectively in group situations or in one-on-one situations. You may want to tighten it up, make it shorter, eliminate a sentence or paragraph, or add another benefit or two.

Whatever you do, take the time to formulate your own personalised

15-second introduction. It will be well worth the time you spend and will reward you with a steady stream of new prospects just begging to do business with you.

In reality, there are several things you can do to grow your

business. But there are four main things... or key categories that nearly

every method of growing your business falls under.

You can:

1. Get more new customers. That is, increase the number of customers you now have.

2. Increase the average transactional value of each sale. That is,

get more money every time a sale is made.

3. Get your customers to buy from you more often. That is, increase the frequency of purchases by your average customer.

4. Increase your customers average buying lifetime. Get them to

continue doing business with you for a longer period of time. Most business owners spend most of their time, effort and money on the first method...

Getting More New Customers.



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While this step is necessary in order to replace those customers who have stopped doing business with you for one reason or another, it is also the most costly and least profitable methods of growing your business.

Increasing the average transactional value of each sale... that is, getting more money from every sale, on the other hand, has the potential to add an immediate 30- 40% in pure profits to your bottom line.

Using this technique, and making a simple suggestion, fast food

restaurants add millions of dollars in profits to their coffers every day. They use the strategies of bundling, cross-selling and packaging, to get their customers to spend just a little more and get a better value.

But aside from the actual cost of the additional product, that little

more is pure profits, since there are no marketing costs involved. Method number three... getting your customers to buy from you more often is another effective way to build profits.

It starts by getting to know your customers and determining what

their needs are. Then communicating with them often, regarding special offers, additional products or services that might benefit them, or other products or services offered by another vendor or supplier with whom you have a joint venture arrangement.

Now, item four... Increasing your customers buying lifetime. It just

makes sense, that the longer a customer continues to do business with you, the more products and services youll have the opportunity to sell that customer. Which, of course, translates into more profits.

But also, the longer they keep coming back and buying from you,

the more benefits theyll receive from the products and services that theyve purchased from you, which leads to a more satisfied customer, and again, means more profits.

And naturally, the longer the customers buying lifetime with you,

the more chances you have of getting referrals from them of others who can use and benefit from your products and services.

Now, increasing any one of these four methods of growing your

business can certainly make a positive impact on your bottom line.



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For an example, lets assume a base of 1,000 customers who spend an average of $100 twice a year, and do business with you for 5 years.

Over that 5-year period, they would spend $1,000,000 with you.

But consider what the significance would be if you were to increase each category by only 10 percent.

Current +10%

Number of customers 1,000 1,100

Dollar value of average transaction $100 $110

Average number of transactions per year 2 2.2

Buying lifetime of average customer (years) 5 5.5

Total income $1,000,000 $1,464,100

The cumulative increase would be 46.4 percent! Not a bad increase in anyones book!

Think about your own business. How difficult would it be for you to increase the number of customers you have by 10 percent? How about getting just 10 percent more from each purchase?

And, with a little extra effort, do you think it would be difficult to

get your customers people who are already doing business with you, who know you, like you and trust you to buy more often or stay with you just 10 percent longer?

If you think about it, it probably wouldnt take much to accomplish

any of those goals. But the resultant increase in income would be incredible.

Current

Number of customers 1,000

Dollar value of average transaction $100

Average number of transactions per year 2

Buying lifetime of average customer (years) 5

Total income $1,000,000



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Now, look what happens if you attained a 33 percent increase in

each of the four categories...

Current +33%

Number of customers 1,000 1,300

Dollar value of average transaction $100 $133

Average number of transactions per year 2 2.66

Buying lifetime of average customer (years) 5 6.65

Total income $1,000,000 $3,058,428

Why, the increase jumps all the way to 205.8 percent! And only by increasing each of the four categories by a third! Now, you may find it difficult to increase each of the categories by

33 percent... or even by the same percentage, for that matter. The exact amount of your increase isnt important.

Whats important is that if you make chances even small changes

in each of the four areas, it will have a dramatic and positive effect on your bottom line.

For instance, if (in the example above), you were able to add just

10 percent more new customers to your business, increase the average size of each sale by 30 percent, get your customers to buy from you 10 percent more often and increase their average buying lifetime by 30 percent, your totals would be $2,044,900... an increase of $1,044,900!

Current Percent Increase Category Increase

Number of customers 1,000 10 1,100

Dollar value of average transaction $100 30

$130

Average number of transactions per year 2 10

2.2

Buying lifetime of average customer (years) 5 30

6.5

Total income $1,000,000 $2,044,900



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Now take a look at your own business. In the table below, write in

the number of current customers you have, how much they spend with you on average, how many times they buy from you in a years time, and how long they do business with you before no longer needing the products or services you sell, or they move to another supplier or vendor.

Then, run some quick calculations on what would happen if you

were to increase each of the categories by whatever percentages you think would be realistic and doable for your particular business in the current economy.

As I mentioned at the beginning, there are several... in fact, many ways to grow your business and add profits to your bottom line.

Here are a few easy-to-implement and cost-effective things you

can do...

To get more customers... Select a target that you can serve effectively.

Create an identity in that market, and become widely known as the recognized expert.

Develop a marketing message that compels your prospects to contact you to learn more about how you can help them.

Establish a proactive referral program that converts your existing customers into deliberate centers of influence.

Current Percent Increase Category Increase

Number of customers

Dollar value of average transaction

Average number of transactions per year

Buying lifetime of average customer (years)

Total income



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To get more dollars from each sale... At the time of purchase, suggest a money-saving larger size.

Suggest add-on items, or other items or services that will compliment the original purchase.

Combine several related items into a package that would cost less than if purchased separately, but will sell for a higher total price.

To get customers to buy from you more often... Learn your customers needs, wants and desires, and create special offers or

incentives for them to return to buy again.

Develop a program of regular communication with your customers, such as email, SMS, phone call, newsletter, e-newsletter, postcard. Keep them informed on whats new.

Contact them before they need to renew or purchase another product. This helps keep them away from the competition.

To increase your customers average buying lifetime... Call on your customers from time to time and let them know youre thinking

about them.

Follow up with your customers to see how theyre enjoying or benefiting from using your products or services.

Treat your customers with respect and appreciation. Show them you care about them.

Remember, your customers are the lifeblood of your business.

Without them, you have no business. Take care of them, and theyll make you a fortune.

Go back and study the above examples. Design programs and

systems that will help you maximize each of your efforts in the four areas.

Finally, put these plans into action without delay. All the best-laid

plans and the most creative ideas in the world wont do you any good unless you act on them.



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Would you like help with this? Still Overwhelmed: get in touch with us at http://optimisingbusiness.com/contact Angela Wright MBE Have a lovely day! Hangout: +AngelaWright Skype: angela_crealy Facetime/Mobile: +61 411 827 702 Announcing...Get your Boom! Back - founded with a rebellious spirit and a life-changing objective: revolutionary frequencies, formulas and wearable tech designed for health and zest. http://www.getyourboomback.com "Uncommon Business Growth And Reputation Optimisation" Specialist: Gain A Five Star Reputation For Your Business and Market That Reputation To Get More Customers. http://optimisingbusiness.com PS If I've helped you, can I ask for your help in return? You know the importance of personal recommendation - so can I ask you to take 30 seconds now to go to our Optimising Business Reviews page, http://optimisingbusiness.com/reviews, and leave us your feedback?

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Your Positioning, Your Market and the Fastest, Easiest Way to Double Your Business Income - An Optimising Business Report