Hey You! Go and create new products and services.

My friend Billy used to say "You have to keep the faith" and i believe him. In down markets most businesses are focusing on cost cutting and how to squeeze another dime or (million) out of their current resources. This is a good practice to keep profits up while saving money. The problem comes in when these leading companies are no longer spending money on R&D (Research and Development). In order to growth the economy and your company forward you need to be focusing on creating new products services or options. Creating new options for your clients always builds value and in turn added profitability.

* If money was not an option what new product or service would you create for your customers or a different customer segment?

* What are unique service or product offering companies in your industry and other industries doing?

* What talent do you currently have within you company that you are not utilizing?

* What companies can you partner with to create a total solution or (Total Package) for your clients?


Send out these question in your next company agenda e-mail and see what ideas your employees may have.






Namesta

Kevin

Simplifying

In todays world most people are faced with making hundreds of decisions a day. Because making decisions is hard work most people make the same choices everyday even if it is not their best option. Now taking this into account is your product or service an easy choice ? Is their a barrier to choice that may be limiting your companies current or new customers choosing your product?

Which one of the following computers you would choose to sit down with: A or B?

A

B

The most popular search engine on the planet.

A great video example of what Microsoft would have done with the Ipod.
http://bit.ly/aBEC

These were just a couple of  examples of what leading companies are doing to increase their customers ease of use to select and choose their product or services.

Does your company optimize its Marketing, Sales Presentations, and Service options  for ease of use and choice?

Namesta

Kevin

The Power of One to Many

Most small businesses owners think that their only product or service offering should be on a one-one basis. These owners think that the higher they can charge for their product or services (per hour) to an individual the more money they are going to make in the end. This is short-term slow-growth thinking. The majority of these small business owners fail to look at all of their options. The most overlooked strategy is the one-many product or service offering. Using the one-many strategy the business owner could see gain as much at 100%.

Here is a quick breakdown of how a one-many strategy can work.

1. Create a service or product offering that would allow your company to provide a one-many option. 

2. Charge each person less than ½ of what they would pay for a one-one service.

Result: Not only are your customers realizing a huge price advantage (which will probably eliminate your competition), you are making twice the amount of hourly income. 

Lets do the quick math on this.

One hour of your time spent in a one-one offering:

1 (person) X $50 = $50 (per hour income)

Now lets look at the one-many offering:

5 (people) X $20= $100 (per hour income)

Is there a one-many product or service offering waiting to be created in your business?

Namaste

Kevin

Marketing Modeling

Everyday business leaders are struggling with or paying large sums of money in creating new Sales\Marketing strategies. I do applaud the leaders efforts, because most companies try one Sales\Marketing strategy and if it produces any results they assume this is good enough and never try anything new.In either case the leaders goal is to to create, retain, and grow their clients.

The most common issues they run into are:

1) The leaders are spending a lot of time trying to reinvent the Sale\Marketing wheel, when their are plenty of  great wheels all around that have proven ROI, and with very minor adjustments would snap on to their companies and create huge revenue growth.

2) If they are spending money with a smaller advertising firm for these services, they end up not measuring their ROI.

3) The main issues is they really don't know what end result their customers truly desire.

A strategy that produces larger ROI with less effort is called MARKET MODELING. Marketing Modeling is the study of other successful companies Sales\Marketing efforts  and using this information in creating a parallel Sales\Marketing strategy your company.

Start with the bigger picture and work your way down.

Look at what the most successful companies (in all industries) message is to their clients.

• Are they talking about new features or the end results those features on their clients lives?

             **** Sources: Magazines, TV ads, Junk mail, Billboards, Internet sites, Radio, ETC.

Now look at your most successful local or national competitor?

• Are they focusing on a specific category of client or are they very general?

             ****Sources: NewsPapers, Yellow Pages, Mailers or Junk Mail.

Most importantly ask other business leaders what their Sales\Marketing strategies are. 

• Ask their time, costs, and results, if you have better results share yours with them.

             **** Sources: Business conferences, Vendors, Clubs.

Make sure that when you see these GREAT ideas write them down and try them in your business. You don't have to completely cut off your current Sales\Marketing strategies, just test a few of the new ones and most importantly measure the results. You may end up finding your best source for new Sales\Marketing ideas have been right in front of you all along.

Namaste 

Kevin

UNSOLICITED ADVICE

The worse type of advice you can give or receive is unsolicited advice. This advice may be in-person, on the phone, through e-mail, or on blogs and tweets. The person giving this advice may truly only have the others persons best interest at heart, but their error lies in the fact that they really don't know what the recipient of this advice REALLY WANTS. While the person receiving the unsolicited advice thinks "who is this person that thinks they knows who I am and what I want better than me."

I think this type of behavior has developed in our society of multitasking. Surfing the internet, cell phones, fast food, e-mail, TV, video games, tweeting. I think most people today do not take the time to really understand the person they are giving unsolicited advice to. I know I have been guilty of this lack of focus on the other person on many many occasions.

 I have learned a couple of lessons around advice.

1. Do not offer advice unless you are specifically asked.
2. If you are offered unsolicited advice thank the person and know they are usually only trying to help.
3. If you are asked for advice, the next thing you should do is ask a question back to understand what the  person truly wants.

Some basic questions you can ask are:

What is your perspective about "this subject"?

What are your doing (or trying to do) now about "this subject"?

What type of advice would you like from me about "the subject"?

What is your goal around "this subject"?
Who else have you asked about "this subject"?

These are just a couple examples of some the types of questions that will help you understand where the person is coming from, and will allow you to know where to start with your advice. Now after asking your questions you may find out the person is just asking for advice to make conversation. So you now know this is just causal conversation. But understand that even in the casual conversation the more questions you ask about the person (the better you know them) and their preference, the better advice you can give.


Namaste

Kevin

The Secret of Lifelong Customers

Secret #1 to creating a successful company. YOUR CUSTOMERS.

I want you to think for a minute about your favorite shop, store or service and see if they meet a couple of the basic human needs listed below

1. Connection\Love - Does this company make you feel connected to them?

2. Certainty- Does this company make you feel certain about their product service or customer experience?

3.Uncertainty- Does this company give you surprises or offer new services? (hopefully good surprises :)

4. Significance- Does this company make you feel special? (Executive membership, club or group)

5. Growth- Does this company help you grow? As a person, in wealth, in person or professional status?

6. Contribution- Does this company allow you to contribute? By giving back or helping others?

(These are from Tony Robbins)

I bet you can identify at least three or four out of the six needs being met by your favorite company\Store\Service. 

Now how can you use this information to create fans of your company? Use your imagination.

Ideas around connection and love- Do you communicate with your customers on a professional and personal basis. Are you interested in what your customers desperately want to tell you about their experience with your product? Do you include them in your planning sessions or trade shows, monthly news letters?

Ideas for Certainty- Do you deliver what you promised? Are youOr even better over deliver and give more than is expected? Better yet do you answer the phone when they call? Or do you call them on a regular basis?

Ideas for Uncertainty- When is the last time you sent your customer something for Free? Maybe it is not even a thing maybe you send them some custom training you developed and share with them online. Maybe it is a thank you award (think nice award they would put in their office). This is the best kind of advertising out there.

Ideas for significants- When is the last time you made your customer feel special? Called them up, or sent them an e-mail about how important they are not just to your company but to their industry in general. Invite them to talk with your executive team about what they like about your company and more importantly what you can do as a company to improve.

Ideas for growth- How is your customer growing from using your product? Are they learning how to make their jobs easier? Are they able to take the knowledge you give them and use it to get a higher position within their company or a skill they can put on a resume for a position at another company?

Ideas for contribution- How is your customer using your product that allows them to feel a sense of contribution? Is your product helping your customers help their customers? Do they feel like being a customer of yours is like being part of something bigger than themselves?

These are just a few ideas that I am sure if you ask the questions of your company you can find ways to not only keep you current customers but to create raving fan customers that will bring in more great customers.

I hope everyone that reads this applies this information to your customers today, or they maybe someone else's customers tomorrow.

Namaste

Kevin

First Official Blog

This is a big day for me. My First Blog :) I wanted to start with an idea for anyone that wants to start a business that I think would make some good money. The idea is a product called BlockLock or whatever you would like to call it. This product would be glue for Lego's or Mega Blocks. The glue should be temporary, because kids like to eventually take the models apart, but since parents pay so much for these models they like to see the them stay together for a little while. I would think a glue company (or a consultant) could come up with a plastic glue that would dry within an hour, and dissolve if submerged in water. I also thought it would be cool if this product was in a round flat container, with a sponge that had some of the shapes of the blocks. This would allow the user to apply the glue to the Lego's by dipping them into the sponge. Anyway hopefully someone in the world takes this idea and runs with it and starts a cool company.


Namaste

Kevin