Strategies to Access More Money for Your Business

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With the economic environment and changes in technology, you must look at new strategies and some twists on old strategies to access more money for your business. Cash flow is king and it is a must.

Let’s start with the easiest and fastest way in which is to raise your prices. That by itself is not a new idea but how you go about raising prices, the reasons for such is new. You already know that if you want to bring 10% more to the bottom line raise your prices by 10%, if you do the opposite (which many do in this economy) you will lower your bottom line by 10%. That can be very bad if you are already losing money. One part is to be very clear on your cost of goods sold and your profit margins on different products and which products or services will lead to upsells and more customers.

The key is how you go about raising your prices and how that is presented. Here are some tips to do it effectively:

  • Bundle other services together (especially one with a higher perceived value and low cost) and come up with a new compelling name for that new bundle of services and package. That is a clever way of raising prices.
  • Emphasize a new improvement in your product or service, which could be speed (people will pay a premium for that) or performance or service advantage. Perhaps you are already doing things fast but maybe you create an actual service for “express service” vs. regular service and give your customers an option for speed. I have always suggested this to my CPA to charge an “expedited tax service” especially those who wait the last night to get all their tax information to them. It is a clever way to raise prices.
  • Change the “Who” you are selling to so that the market may be thinking your prices are a bargain. This works well when you start selling to the affluent market. Search Dan Kennedy, “No BS, Marketing to the Affluent”. If you only have “cheap” customers it is most likely because that is who you are marketing to and your marketing materials and sales copy may be leading people to believe that your products and services are lower priced and that may be the reason you are having an issue raising your prices. Just model some of the products or services in your industry that are higher end and look at their copy, websites and marketing materials and see where you can improve.

Master up selling at the point of sale is a must (the key is how you go about it). I would guesstimate 90% of small business still don’t do it. Big businesses get this! You can’t go to a Walgreens to get gum, a birthday card, or some cough drops to go through the checkout counter only to be asked if you would like a candy bar with your cough drops (which makes no sense). An improvement would be a better matched upsell based on what is being purchased, like a vitamin C packet with the cough drops. But at least they are doing it. McDonald’s does it, banks do it, and almost every major company will ask you for a small upsell at the point of sale! That small upsell ad up and you need to figure out that every product you offer what small or large upsell can you offer either on your website or when your clients or customers call you. You must train and MEASURE (otherwise nothing will happen) with your staff and this is now mandatory! You may give rewards for the most upsells in a month (a great way to start the momentum). You may need to actually script this out for your staff, for a couple of reasons, one to be consistent, and second to test what is working or not!

Better bundling will lead to more profits! You can offer one product with another. You have to work on bundling and ways of positioning complimentary products together. I would recommend you come up with a new creative name for the new bundled package that gives an implied greater benefit vs. the standalone product or service. You can also use Amazon’s model of when someone buys a book or product they share the most common other books or products bought by someone who made the first purchase. They are testing to see how often that triggers someone to buy a second or third product. Did you ever buy a domain on GoDaddy®? You are presented with so many upsells and bundle options. This is very similar if you buy a plane ticket on Orbtiz®, there are several packages and bundled options. But are you doing this in your own business? If you are, congrats! Now, what can you do to improve what you already have working? Are you testing names, combinations, copy, graphics? You may be not doing this and this is a must to maximize your results. You must test and see what will work better to make those improvements. We started doing this again on one of our websites and tested three different landing pages and one
out pulled the other by 4x the amount! That is huge over time.

JV creatively. If you are not getting many companies to promote you to their list at no cost to you then look for a smaller win. Perhaps you can trade a banner post on each other’s blog. Perhaps you can trade a “P.S.” in an email blast you are both doing to help cross promote. If you each have a loyal following and valuable list why not cross promote! You have to be the one suggesting new and simpler methods to JV. You may even hire someone to make JV calls on your behalf to set appointments. If you have someone doing that now for new clients or customers why not have them spend 1/5 of their time making calls for JV opportunities for your business. That is what we do at NCP.

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How to Explode Your Business in 2015- Joint Venture Follow up Tips for Success.

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The fastest way to grow your business and acquire new clients and customers is to leverage other people’s money, relationships and resources (OPM, OPR, OPR). The best way to do this is to provide massive value for the other people’s clients and customers. The best way to do that is to know what problem your product or service will solve for someone and find out whose clients or customers need help solving that problem. The best approach is to share how you are willing to provide training or tools FREE to the other company to help solve part of their big challenges.

The next step is to help position this as an ADDED BONUS OR VALUE to the other company’s clients to help with retention, increased business or even bring on new clients. What I mean by help position as an added bonus or value is that too many people stop short and let the joint venture partner company come up with how your free content will add value to their clients and how to implement. That is a big mistake. Make it simple for the other people and give them 2-3 ideas how they might best position what content you will deliver for free to HELP THEM do more business (this is not about you at all on the front end)! Once they know and feel that is your drive, you will get more opportunities. How do you benefit? That is easy. You benefit by having the other company send a marketing message to their clients (who are trusted by that company) sharing about your company and how you will add value to their life or business. You are getting FREE ADVERTISING and, ideally, some new clients on the back end after you deliver your free content.

Once you get this first part down with the approach and presentation, you will find it very easy to get many companies interested in how you may help them become more successful. The ball usually gets dropped in the follow-up. Here are my best tips for JV follow up tips for success.

  1. Track Your JV Opportunities. I would recommend a separate spreadsheet to track each JV opportunity and the stage you are at in the process. For example, list call, approach, presentation, follow-up and close (the close means the JV is happening). And leave a column for the follow-up. This should be updated with the most recent follow-up attempt. Now you have a visual chart to track your JV opportunities separate from your regular client prospecting and customer follow-up.
  2. Schedule Time on Your Calendar for JV Calls. What is on your calendar each week? Most likely what is most important. If something is NOT on your calendar each week, what does that mean? It sends a message that it is NOT important (which is not good). If you are in a relationship, do you schedule date nights? If not, what message does that send to your partner? That they are not important. If you do not have JV calls on your calendar, that says they are not important and that may be why they are not working for you.
  3. Variety in Follow-Up. This means don’t get lazy and send the same email message every month or the same voice mail message every month. It would be best to establish a JV follow-up marketing system just like you have for leads or clients. You might have a sequence of calls, emails, postcard, letter …for every lead that opts in on your website or calls your business (or at least you should). Make sure you leave messages and emails that have a different twist and are compelling to add value to the JV partner. It is not about you.
  4. Consistency and Frequency in Follow-Up. This may be obvious, but this is the #1 reason why so many don’t do JVs with NCP. They follow up once or twice and DECIDE I am not interested, which is NOT the case in most situations. I do see the value in most people’s products or services and how they may add value to your life, but there is such a thing called TIMING and when is the best time for me to introduce your added value to my list. Again, like a good marketing campaign, there is a follow-up process over 3, 6, 9 months and longer to touch base and to determine if there is a need.
  5. Scheduling the JV. Many times when you speak to someone they may love your JV idea to add more value, but the timing is off. Instead of waiting to follow up in 30 days, you may TEST to see if you could just schedule your teleseminar or webinar in the future on their calendar, while now it is not so jam-packed. If you introduce something this week, most people are already swamped and have no time. But if you suggest scheduling something 60 days out on a calendar, that may be ideal and help you “close” more JV opportunities.
  6. Repetition. Dan Kennedy once said the way to get better at long copy writing is to do a lot of it poorly. In other words, get started and just realize you will get better over time and your initial results may not be very good, but with repetition over time you will get better. Too many people quit because they didn’t have success right away with JVs. You are likely to do this poorly at the start until you get more repetition and get better!
  7. Improved Skills. Like any other skill, there is an art to the JV. Find resources to help you improve this skill set. NCP has conducted The Ultimate Joint Venture Boot Camp for three years with training from the best JV experts in the world on how to leverage JVs. Let us know if you are interested in more support in this area. There are several other articles and resources in the Top 5% Club membership site also on this important subject.

Now the ball is in your court to take ACTION STEPS to IMPLEMENT JVs more often to be better at follow-ups to help your business benefit from the power of JVs!

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Joint Venture Training on CDs

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Joint Venture Training on CDs

Go to http://budurl.com/JVHomeStudyCourse check this out…

How Mastering the Ultimate Form of Leverage…

“Joint Ventures and Host/Beneficiary Relationships” will Change
Your Business Life Forever…(only if you execute what you will learn).

Is your business struggling?  Do you need more clients, more sales in
your business?  If you’re not using the most powerful form of leverage
to grow your business, this will be the most important message you
read this year.

Let me get straight to the point.  With 95% of businesses failing
within 5 years, you CANNOT afford to have an ineffective marketing
plan.

The problem is that I see way too many businesses investing
tremendous amounts of money in the most expensive form
of advertising: traditional advertising and marketing.

Now, Here’s the Good News.

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Joint Venture Training Call

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From: Scott Letourneau
Re: The Ultimate Joint Venture Boot Camp-Training Call

Tuesday January 24th at 6 pm PT/ 9 pm ET

http://budurl.com/ScottsJVStrategies

I will give you what is working and not working with JVs in
this current economy. Don’t miss it!

The rules of the game have changed. I will give you what you
must do differently now to have JVs become profitable for you.

Click here and register for the call.

http://budurl.com/ScottsJVStrategies

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Join Us For Your Free Training Call
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2012 Ultimate Joint Venture Boot Camp

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We are only a few days away from the event that
will change your financial future!  Why? Because when
you master this one strategy…you will bring in new leads and attract new clients.

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Check out all the details for the 2012 Ultimate Joint Venture
Boot Camp January 27-29 at the Gold Coast Casino in
Las Vegas here now.
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I will be upfront and tell you there are many components to learn with my favorite JV strategy, the host/beneficiary relationship. In fact, almost every major business success has been a result of a joint venture…done the right way.

When you register now, you will receive $4,685 in bonuses, and that alone would be great for such a small investment.However, in addition to over $4,600 in bonuses you also will be spending three days focusing on this ONE POWERFUL strategy with world class trainers to help you implement every phase!

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Did you check out the training calls by the speakers? I even
broke down the most essential parts for you.

Go ahead and access the training calls with each speaker for FREE for a limited time:

Go to Speaker Training Calls Now.
============================================

This is the ONLY Ultimate Joint Venture Boot Camp scheduled
for 2012 to help you leverage other people’s resources.

When you register today (first you will receive 10% off)
PLUS, you will receive immediate access to the
online 2010 & 2011 Ultimate Joint Venture Boot
Camp training from our powerful 3 day boot camps

we’ve previously held in Las Vegas.

You will have access to both the videos and audios online (www.TheUltimateJointVentureToolBox.com) broken down
by each trainer, complete with training manual on which
subjects you need the most help with RIGHT NOW in your
business. Plus, you will receive access to all the training calls
and materials to turn your business around quickly.

This bonus alone is a $3,995.00 value.

************************************************************
Go to http://www.theultimatejointventurebootcamp.com
for FULL details and to Register Today! Save 10% by Registering on or before January 20th, 2012 (there are ONLY a few seats remaining)
***********************************************************

Join me and my team of trainers and coaches for three business
life-changing days in Las Vegas as we mentor you in the most powerful marketing strategy to put massive profits in your business …yet one that 99% of stressed, struggling entrepreneurs do not use effectively, if at all.

The World Class Trainers to Help Your Business Turn Around and Grow in 2012 and Beyond Include:

Spike Humer- Is widely becoming recognized around
the world engineering entrepreneurial success
as THE leading expert in stories.

Armand Morin -International Internet Marketing Strategist.
Having started online in 1996, his personal online businesses
alone have generated over $100 Million in online revenue
since then.

“Jump Start” Jim Chianese– Is The World’s Only Marketing Resultant for the Impatient Entrepreneur. A Relationship and Social Media Marketing Consultant that has used social networking to double client’s businesses.

Sohail Khan- Sohail is founder of The Joint Venture Group
and President of The Joint Venture University. Having previously
built a multi-million pound internet training business which
he started with just $1,500 in 2000, he then sold a majority
stake to a $118 Million IT company in 2006.

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Social Media JVs Secrets

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From: Scott Letourneau

Re: -The Ultimate Joint Venture Boot Camp Training Call with Jim Chianese, the Founder of “The Impatient Entrepreneur”.

=============================
Click Here for Full Details:

January 17th at 6 pm PT/9 pm ET

http://budurl.com/JVJumpStart
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Wikipedia defines the word entrepreneur as an owner of a business enterprise who makes money through risk and initiative. It goes on to say it is a term applied to a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome.

One definition of the word impatient is to be eagerly desirous, according to the Merriam Webster Dictionary.

Combine the two and you get someone that is an owner of a business that is eagerly desirous to succeed and will take full responsibility for the outcome of that business..

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