Buying a business offers you the potential to create, and control your future. You can make your own decisions, there’s no one to tell you what to do, and you get to reap the benefits. This is the joy of being your own boss. I’m sure you’re aware however that unless you take charge, your business will. Too many people end up being in a self- made prison rather than reaping the freedom and rewards. And, while you may think that you’ve escaped a boss, there’s no tougher boss than a business that relentlessly demands your attention 24/7. So how do you avoid ending up being ‘employed’ by your business? You must be the number one priority of the business. From the in-depth research gathered when writing The Invisible Entrepreneur: How To Grow Your Business By Taking 3 Months Off!, I saw too many entrepreneurs being the last in line to reap any rewards from their business. If you are investing in a business, then you need to make sure that it’s a wise investment, and that it does give you a return on your investment. As a business owner keep in perspective that having a business isn't an end in itself, but the means to an end. Over the past twenty-five years I have seen too many business owners forget that a business is a moneymaking machine. Now before you jump to any conclusions, and think that I’m saying that money is everything, it’s not. I know that making a difference is important. I also understand that you get to be creative, and you get to set the standards that align with your core values. However, there’s another benefit that you may not have thought about which is your business needs to give you sufficient funds to be able to invest in other income- generating vehicles. For instance, imagine using your business to generate enough revenue, so that you can then invest in ‘bricks and mortar’ and build a property portfolio that will give you a passive, and ongoing income. Would you agree that this could provide you with real freedom, and the opportunity to choose what you do, or don’t do in your business? Be clear about your short- term and long-term objectives Buying a business can often be an emotional decision. It feels like it’s the right thing to do, and if you just get started, you’ll figure out the rest. However, this can be costly, and may not lead you to your destination. So before you buy a business, it’s important to map out ‘why’ you are going into business, and what you really want to get out of the business. You must think in terms of the short-term as well as the long term. It’s much easier to map out your game plan when you know what game you’re playing. When reviewing the business’ financials, look at the previous turnover and historic costs, but also look at the scalability, and whether this business could operate without you. If you can't see the potential for this to happen, you may well be staring at a ‘vampire business’ that’s going to bleed you dry—delivering minimum returns for maximum input in terms of your time, effort, and resources. Begin with the end in mind How might you set up your first business, if you knew that it wasn’t going to be the only business you’ll ever have? In The Invisible Entrepreneur the focus is on you not being in your business, and having to run it day-to-day. It’s about you taking on the role as the investor of the business. And, if there’s one thing that I would encourage you to do is to begin thinking like the investor from day one. It might sound like an impossible role to play in the beginning, however it will pay you dividends if you can master operating like this. It will give you enormous freedom to direct two game plans simultaneously. Game Plan 1 is your business. Game Plan 2 is an investment portfolio, funded by your business. Another way of saying this is, don’t put all your eggs in one basket. If you’re interested in creating a future that gives you the best of both worlds—your business and your investment portfolio, then please call me to discuss how this can be achieved. William de Ora is the best selling author of three business books. The Invisible Entrepreneur: How To Grow Your Business By Taking 3 Months Off! The Invisible Partnership: How To Live, Love, And Work With Your Life Partner The Invisible Branson: The Definitive Guide To Becoming A Business Rock Star To contact William: Email: [email protected] Mobile: 0414 834 733 W: www.InvisiblePartnership.com
Why are some people more successful than others? Frequently it’s due to them having a better philosophical strategy. They approach everyone they deal with in a totally different and more effective way than anyone else does. And while their competitors are usually unable to figure out this strategy, it is one that anyone in business can successfully employ by simply changing your focus from “ME” to “YOU”. This is true whether you own a business or work for one. This simple adjustment in your focus is the key to what I believe is the most powerful business strategy you can employ. Once you begin to use it you will stand out in the minds and cheque books of your customers as the very best there is. Creating empathy with your customer is quite simply the ability to put your customer’s needs in ahead of your own. When you master that, your success will naturally follow. If it seems backwards to put your customers interests ahead of your own, that’s understandable. In fact, that is the reason so many businesses are unremarkable, unmemorable, and ultimately unsuccessful. It’s amazing how many people and companies will do whatever it takes to make a one-time sale, rather than taking time to understand the customer’s desired outcome. And then having the courage and concern to tell the customer what they really need is much less than they told you they wanted. You may, when you take this approach end up with a smaller initial sale, but you will have made a new friend, someone who will remember you the next time. And will no doubt, tell their friends about you and your business. Having empathy with your customer is a powerful yet simple strategy that almost single-handedly can transform your business or career. It makes people want to do business with you rather than your competitors. It will give you an uncanny insight into what people want, and why they act and react in various ways. It will turn customers into literally friends for life. And it will strengthen your passion and connection with everyone you associate with. You need to understand the true needs of your customers and how to approach them in a way that results in their complete satisfaction and long term loyalty to you. A Client Not A Customer Consider the definition of these two words … Customer: A person who purchases a commodity or service. Client: A person who is under the protection of another. If you use the word customers, that’s fine. But always think of them as clients. And when you start to serve clients rather than sell clients, the limits on your business success will disappear. What exactly does “under your protection” mean? In this case it means not selling a product or service just so you can make the largest one time profit possible. You must understand and appreciate exactly what they need when they do business with you – even if they can’t articulate that exact result themselves. Once you know the final result they need and you lead them to that outcome – you become a trusted advisor who protects them. And they have every reason to remain your client for a lifetime. When a dad comes into your store to buy his six year old son his first bicycle, what’s he looking for? Does he just want a bicycle? No. He’s looking for one of the most joyful, sharing, experiences of a lifetime – teaching his son how to ride a bicycle. Just like his dad taught him to ride a bicycle when he was six. He’s looking for a memory that will last the rest of his life and his little boy’s too. He’s looking for that once in a lifetime moment when his son, smiling ear to ear and speeding down the street, yells, “Look, Dad I’m riding a two wheeler!” So, do you sell the father and his son the top of the line, highest profit margin bike in the store? Maybe, if that’s the best solution to your client’s problem. But you should definitely tell the father that you’ve seen hundreds of dad’s come in and buy their child’s first bike and you know what a wonderful experience he and his son are about to have. Possibly a less expensive model would be better for his son. It’s the little fellow’s first bicycle and he may crash into a tree or two. You make the sale and you just became a trusted advisor to the father. The father realises you just didn’t sell him a product. You “protected” him. He became a client. In a couple of years his son will need a new bike. Where do you think he’ll go to buy it? And at the point of the sale, the high profit margin model might be the best choice. Maybe the entire family will want bikes to ride together. And when the time comes for the little boy to buy his son his first bicycle, where do you think he’ll go? Having empathy with your client doesn’t apply only to selling products and services. This strategy is equally important to anyone in any business situation. If you’re in administration, customer service, shipping – any department – you should use the strategy for dealing with everyone. Be a problem solver, not a problem bringer. Add value to every task you undertake. Clients can look at you as a trusted friend who is providing a service that will benefit them in some way. Not just because you helped them, but because they will want to continue to take advantage of the valuable service you provide them. Whatever you do, if you focus on giving value and advice instead of manipulating and manoeuvring, you will win over many more prospects and you’ll be rewarded in ways you’ve never dreamt of. Falling In Love One of the biggest mistakes, probably the biggest mistake, people make in any business is that they fall in love with the wrong thing. They fall in love with their product, service or business. But you should fall in love with your clients Awesome service is admirable but trite. Falling in love with your clients means taking responsibility for their wellbeing and putting their best interests ahead of your own. Most people say “What do I have to say to get people to buy?” Instead they should say “What do I have to give? What benefits do I have to offer? It has nothing to do with sales shenanigans, trickery or schemes. It has everything to do with the benefits you give your clients. The more value you give others, the more value you generate, not only for your clients but for yourself. The more contributions you make to the richness of your client’s lives, the more bonded you will be with them and they with you, and the more successful you’ll become. Your focus should be that your client’s wellbeing is important to you. And you should see yourself as a creator of value. Human Nature Mastering the empathy strategy is really understanding and having respect for human nature. Start by considering yourself and how you go about making decisions. Naturally you want to feel good about yourself and the decisions you make in business or just in everyday life. The beauty of the empathy strategy is that it applies to any business. Whether you’re selling life insurance or you own a hardware store. The steps you must take always remain the same. You must first identify what your client really needs, even if your client doesn’t recognize what it is they need. The client may think that a particular item is what they are searching for, but if you probe a bit you might see an entirely different solution might solve your clients problem, maybe even a less expensive solution. Now you have become more than a sales person, you’ve become an advisor. You’ve begun the process of winning trust, and ultimately, additional business from your client. This approach to business may seem obvious to you. But you’d be amazed to find how few people in business understand this very basic concept. It’s hard for them to understand that they’re really selling solutions to problems, not merchandise. Selling people what they need, rather than what you have to sell, will set your business apart and create extra repeat and referral business that will astound you.
Every relationship is an asset—in the beginning. Deciding to join forces with another human being is filled with promise and high expectations of what’s possible. You are filled with optimism and have a sense that you can take on the world. And, this isn’t limited only to your life partner. This same feeling comes when you employ your first team member, or when you get a sense that you have finally attracted the right 2IC. What about the sense of accomplishment you get when you sign up with a new client or you engage a supplier who really gets you. It’s all perfect, life works, you’re in heaven. But for some unknown reason to you, your life partner, your team, your clients and your suppliers quickly turn from operating as your best assets and become a liability! Shock, horror, what happened, where did things go wrong you may well be asking yourself. No wonder fifty percent of marriages end in divorce, and seventy-five percent of businesses fail within the first five years, can anyone live with, or work with, other human beings? However, you know that going solo isn’t an option either. So, what is the solution? A key to your success is to know how to work powerfully with your life partner. If you get this right, then you can adopt the skills, insights, and knowledge into all areas of your life and into every other relationship. And, trust me, I have worked with my life partner in our business for nearly twenty years. Some people thought that our relationship would end in disaster, and there was a time when they would have been right. Three years into our marriage we nearly got divorced. What I thought was a winning formula; our lethal weapon in life and business, almost became our worse nightmare. I had a lot to learn about what it takes to successfully work with your life partner and be together 24/7. Tips for valuing your asset To go from the brink of divorce, the potential collapse of a business, and the giving up of a dream to celebrating eighteen years of marriage, you could say that I have earned the right to share some tips with you. What I want you to know is that no matter how bad you think your current situation is with your life partner, there is hope. There is a solution. And, it can be turned around today. 1. Taking Responsibility Your first decision is to decide to become 100 percent responsible for the success and failure of your business and your partnership. For things to change you must be willing to go first. This can never be about you only changing when your partner changes. 2. Admit that there is a problem in your relationship Your second priority is to admit that there is a problem, or a breakdown in how you are relating with your partner. You then need to be willing to write down what you think the issues are, who you think is at fault, and how long these issues have been going on. Please understand that this is an exercise between you and the issues. This isn’t an exercise in you gathering evidence to fire off at your partner. No! This is about you being responsible for your thoughts, your opinions and your view of what you think is going on and being willing to get them out of your head and onto paper. 3. What you value most about your partner Prior to sharing your thoughts with your partner, it’s important that you get back to basics and reflect upon what you value most about your partner. Write a list of all their strengths, skills, talents and what you most admire about them. Look at the role they have been playing in your life and your business. Start to see where they have gone beyond the call of duty. Acknowledge that perhaps they’re not always able to operate from their strengths—meaning have they had to extend way beyond their capabilities and therefore operating in an area of weakness. 4. Create a goal worth playing for If you have become disillusioned by what you’re doing and how you’re operating, then perhaps it’s time to create a goal that is worth playing for. After all, you inspired your life partner about what was possible some time ago, perhaps it’s time to do this again. 5. Communicate Decide to communicate with your partner. Create the opportunity to share your views and be open and willing to hear their side of the story. The key is to not continue to work around the elephant in the living room. 6. Find a mediator If you need a third party to support you, then find someone who is experienced in working with their life partner. Not every issue can be resolved on your own. I share these tips with you not for the purposes of a one-off exercise. In choosing to have a rich and rewarding life-long relationship with your partner, you must consistently maintain, value, and appreciate your one and only asset. When I truly learnt to value, respect, and appreciate who Louise was and what she brought to our business and our personal partnership, everything started to work. I wish you every success.
In today`s business climate you have to change your philosophical approach and Fall in Love With Your Customers Instead of Your Product or Service which is a whole new way of looking at the relationship you have with your marketplace. It’s seeing yourselves, and your company, and everyone in your organization as the ultimate fiduciary, as an advisor, as a trusted, respected, expert advisor. And you have the responsibility and the obligation to counsel those people in what’s in their best interest. To give them the very best short and long-term outcome. And when you start advising them with their best interest at heart, you no longer will accept or allow them to buy less than they should… fewer combinations than they should… less quality of products or services than they should… and less frequently than they should. You’ll never again, take the order just because they’re willing to buy. You will never again be struggling with how to manipulate, what kind of things to say or do. You’ll always be focused on the fact that the more value you add, that is perceived by them, the more success you will have. You will start thinking of your relationship with them all as “clients.” If you talk to them or think of them all as customers, you should change – and I’ll tell you why. In a world that is trying to slam everyone down to commodity and marginalized status, you have to draw a line in the sand and distinguish yourself. And the way to do that is to start thinking of your relationship as an advisor, and the people you deal with as clients. Look up in the dictionary the word “customer.” And look up the word “client.” “Customer” is defined as,” someone who buys a commodity or a service.” “Client” is defined as, “someone who’s under the care and the protection of another.” You want to move the whole relationship that you have with your “customer” to where they are your “client.” Someone you see as under your care and your protection. Someone whose wellbeing is important to you. The biggest problem that I see with companies I serve, and most companies I study, is they fall in love with the wrong thing. They want their company to be the fastest growing, the biggest, and the best, the Fortune 500 Company of their industry. They fall in love with the mega-organization, the worldwide impact. The way to greatness today is to transfer your ultimate passion away from your product, your service, your company, and instead, fall in love with your client. If they’re at the top of your awareness all the time, and if all you focus on is constantly getting them the very richest, the very best, the most productive, the most profitable, the most enjoyable, the most enriching, the greatest protection in whatever your product or service provides…you will dominate everyone else in your business sector, because they don’t look at it that way. They’re in love with having the biggest company, and as a result, they don’t. You also have to fall in love with your three tiers of “clients.” The people who pay you and the two tiers of people you pay. You have to fall in love with your team members and suppliers and you have to want greatness for them. And you have to know that you are the vehicle to their and their families’ richness and security. And you have to envision the fact that their kids are going to go to college because of you, and lives are going to be enriched because of you. Just as with your clients, you have to see their businesses or their personal lives thrive, their prosperity grows, and their security enhanced. If you can’t visualize that you’re going to lose torque. Falling in love with your client is truly transforming. It’s the most liberating, the most animating, and it’s the most passionate concept you’ll ever embrace. For further information on how your business can benefit from these and other exciting business and marketing strategies call Bob Lyon direct on 043 883 0937 or get your FREE report entitled “How To Sell Your Business At Your Price … And Cause A Stampede Of Prospective Buyers Literally Begging For Your Time” by simply going to betterbusinessreport.com/ab4s1.htm
Small business is often the first choice for those who have lost their jobs. Most will not have been in business before. The transition is not easy and being a first time business owner is a vastly more complex occupation than being an employee. Here is a list to help you make this transition and ensure success: You should have a clear vision for where you want your business to go and be able to easily identify opportunities that help get you there. You should have a business plan, your road map. Your plan must be based on the best market research you can get. You must source experts to assist with the strategic and financial aspects of the plan. Make sure you have sufficient capital – not just for the purchase price but also for working capital. Prospective customers need to know the reasons they should choose you over your competition. You need to be able to articulate the reasons. You should have a marketing plan that covers all aspects of promoting your business, appropriate to your business. Always remember that your current customers are the lifeblood of your successful business. Always keep in touch with them. Show them that you are looking after their interests. Ask them if you meet their expectations. Be honest with them. Being able to communicate persuasively is crucial to business success. To communicate convincingly, you need to focus on one clear message and then structure your support message properly. If you want people to follow your advice, position yourself as an expert. Use your time effectively. How efficient you are is a great determinant of success. Failing to take action is one of the biggest roadblocks to business success. Avoid putting off tasks you need to do. Be different. Finding a point of difference from your competitors is the way a new business can lift revenue and become visible in the market. Be fair on people, firm on performance. Set performance standards for employees and suppliers from day one. Review performance on a regular basis and give feedback. Use technology. Have a website to help you build relationships and drive more sales through your business. Form an online relationship with customers through emails. Systemise your processes. Having a systemised and predictable process of doing things is like breathing - without it your business can not survive. Surround yourself with a good team. Carefully choose your employees. Have passion for what you do and a desire to build an enterprise through clever strategy and creativity. Hire an experienced accountant to help you meet your tax obligations and give you advice on how your business is going and how you can enhance it. Should you need any assistance, please do not hesitate to contact Peter Small on 02 9221 4088. The road of excellence is challenging but very rewarding. Yet many twists and hurdles can derail you and produce obstacles to success. The best organisations understand the need for a clear vision, create strategies to circumnavigate the impediments, and remain focused on the customer. Good luck with your endeavours! St. Clair partners - phone (02) 9221 4088
In this article we'll look at the value of your existing customers. Not the lukewarm, wishy-washy appreciation of customers that most business has. I mean the intense insight that it is NOT new customers, but old customers that are the key to growth and profitability. Your best prospects are your existing customers. If you've been putting all your marketing efforts into acquiring new customers, stop and divert some of your resources into reselling and cross selling to those same customers. Do this in every way possible -- through package inserts, regular mailings and special offers -- stay in touch with those customers and get them used to buying from you. Your customer relationships are the number one asset you have, so stay in touch. Provide your customers with post purchase reassurance; give them the best deals and guarantees you can possibly getaway with. Give them preferential pricing and build rapport and trust. A frequently overlooked way to gain your customer’s trust is to thank them for favouring you with their purchase. Send your customer a letter within 5 days to a week after the customer's first transaction, where you: Thank them Resell the value of your company and Reassure them of prudence of their purchase Such letters program your customer tore purchase from you and are an excellent way to offer additional products and services or upgrade the original sale. The point is you must reinforce the buyer's decision. This simple action can prove extremely powerful because it builds your long term sales. Have you considered how the value of your customer increases if you actively contact them again and again? Create a special offer to go with every invoice or delivery Program your data management system to contact customers every month or each quarter Mail your regular customers every month Mail delinquent customers and prospects every two months And if you have a really HOT offer that really works mail your entire customer list. Offer to up-sell at the point of purchase And tell your customer why they should buy, how to buy, what to do and why they should do it now. Before you begin to market these programs you may want to take another look at your customers and their needs Ninety percent of businesses I look at NEVER determine the needs, desires or requirements of the people they're trying to sell to. How can you expect to adequately fill somebody’s needs if you never take the time to understand them? It's laughable! Yet few companies seek to meet their customer’s needs. Those companies that do understand their customer's needs and attempt to satisfy those needs seem to end up with all the business. You can end up with all the business too, if you'll take the time to learn what your customers need and want. Let's probe that a little … People want products that offer convenience or better quality. They want things that last longer, save time, look better, perform more functions, are state of the art, save money, make life less difficult by saving effort, generate more money, or make their owners more effective. What do your customers want or need most in the product or service you offer? Do they want the convenience of knowing they can go down the block and get it from you or the knowledge that your firm stocks or offers more items, sizes, or products than any other company? Do they want Top-of-the-line products or service? Or, do they want highly personalised service, attention, advice and instruction? Perhaps they merely want to acquire the kind of goods and services you sell at the lowest possible price. Or maybe price alone isn't what they're after - maybe they want the best guarantee or the best service to support the sale. We don't always know which need or which combination of needs you customer is seeking, but once you find and fill that need you'll own your business niche. If you don't know what needs your customer wants you to fill, start by recognising that no one can be all things to all people. You'll dilute your image as a need filler if you try and do that. So first determine which needs you can fill that is consistent with who you are, what your business is and how you operate. Then talk to your customers and let them tell you specifically what needs they most want filled and decide which of those needs you can actually fill. Then, don't just silently fill those needs. Inform your customers and the entire market place that you've listened and that you’ve done something to satisfy the needs of your customers. Continually inform, educate and point out that your company is fulfilling the needs of your customers. Change your ads and sales letters and phone your customers and inform them you're prepared to fill their needs. Once you determine precisely what your customer’s needs are and you commit to fulfilling those needs … Then do it. If you decide that service is the critical element, offer the best service, the fastest service, the most skilled people and the most knowledgeable staff. If top quality is the need you decide to fill, don’t offer mediocre goods! If you claim to be the best quality business, make darned certain you're a regular fusspot about what you sell. If you promise the lowest price, keep that promise. Integrity demands it. If you don't genuinely fill the needs you say you will, your customers will soon abandon you. The cornerstone of your marketing plan should be to educate your customers. One of the saddest marketing mistakes I see is the failure of businesses to educate their customers about the unique advantages offered them. When you educate your customers you’ll see your profits soar. Think about yourself. When you buy or consider buying anytime or service you often don't know as much as you'd like to know about the item. If you have any unanswered questions about a product, you're less likely to shell out the money to buy it. When a company takes time and initiative to objectively educate people on all the products they're considering purchasing, it gains trust and favour. Education is a powerful marketing technique. Educate your prospective buyer about everything including a few of the bad or less positive aspects of your product or service and you'll sell almost twice as many people as you do now. This one concept - educating your customers - will gain an inordinate advantage over your competitors. Take your customers by the hand Few businesses realise that they must lead the customer to action in addition to developing a compelling marketing plan. People need to be told how to act and obtain your product or service. Therefore -and this is incredibly important - every sales call, letter, commercial or personal contact should make the case for your product. Give your customer a brief education then take them by the hand and tell them what action to take next. Tell them why Whenever you ask for a sale, run an ad roofer a product at a specific price, always tell the reasons why. Why can you sell a product or service at lower prices than your competitors? Is it lower overhead or volume buying? Do you buy odd lot inventories? Do you not provide all the services? Why is your price so good? If your price is high, tell your customer why. Do you offer a superior product? Is your product made with demonstrably finer materials? Is your product designed to last or perform longer than your competitors? If your price or package is especially good value, tell customers why you're makingthis offer. Is it because the customer is ordering for the first time and it's an exclusive offer for first time customers? Or is it because you got a great purchase on all or part of the components in the package and you want to pass the saving son? Or, is it because you're overstocked and you want to clear your slow moving inventory so, you're willing to sell at a loss. Please tell your customer the reasons why! Why should I patronise you instead of your competitors? Tell them what you’re doing that makes favoring your firm better for them. Why can you handle my purchase better than someone else? Please tell your customer all the reasons why. The more factual, believable, creditable and plausible reasons you give for people to deal with you, the more compelled they are to favour you with their business. Make yourself into an expert Here's a marketing niche that's crying to be filled. Reposition your company as the source for industry information - as an expert in the industry - and you'll be amazed at the increase in business that results. First educate people about your product or service. Tell them all the interesting details regarding the construction and function of the product and be sure to include this information in your advertising and promotional material. Next, create a booklet or report about how your product or service can save customers' money, time or effort and how you offer better guarantees, personalized service and advice. And finally have a report on how to buy or what to look for when choosing your product or service. You might even have a broader book about the product category that only touches on your particular service. So there you have it … Four powerful strategies you can implement straight away. “Understanding customers and their needs” and “educating customers to your value” are surprisingly simple but highly effective and when implemented concurrently will produce amazing results. For more information about how your business can benefit from these and other powerful marketing tactics go to www.betterbusinessreport.com/ab4s1.htm
Now is the time to motivate your prospects to take action. We do this by using scarcity. What compels people to purchase is a clear logical reason. People need a logical reason to get off their butts and do something. Yes, it is emotion that builds their interest and desire … but …it's logic that gets them over the line. Below are the main techniques I use to get people to act. Scarcity Tactic #1 … Time Limit This is one of my personal favourites. I use time limits all the time and you should do the same. Say to your prospects, “you need to come into the shop by the 27th December. If not, your free bonus will be given to somebody else.” Using a deadline forces people to say, “I better not put it off or I will miss out!” Of course, the deadline needs to be credible. Simply, if the market gets the slightest sniff that the deadline is not sincere … it will back fire … In Your Face! If you use a deadline, stick to it. Pow Wow Events are one of the biggest self-development seminar companies in the country and they are real sticklers for deadlines. Their customers know, once the deadline has hit … that's it. Only in very rare circumstances do they get chance at the special offer AFTER the deadline. And that's how it should be. If you want to strengthen the deadline, give a clear reason for the dead line. State why the dead line is the way it is. Give a logical reason… and…Be Honest About It! If you're offering a huge discount on products to clear inventory, say it. Here’s what I mean: “Three months ago I went on a buying trip through South America. I purchased loads of stock at great bargains (which I thought would sell like hotcakes). I was wrong. There’s still much of the inventory left on the shelves … and I’ve got to make way for my summer gear. There’s nothing wrong with this stock. It’s just that I purchased far too much, and it's just sitting there now. Anyway, my problem is YOUR opportunity. If you're willing to help me out, and get this stock off my shelves, I'll make it worth your while. If you've been in our store recently, you’ll know the existing stock sells for $97 apiece. Well, my cost on each of these is only $32 … and … I'd be happy to let you buy as many as you wish… at my cost … just as long as you drop in before September 12.This means, instead of paying the usual $97,you only have to pay $32.This is a massive saving… which … I am making NO profit on at all! But you'll need to come in before September 12.After that, you'll miss out. Now, isn't that believable? This is much better than the usual discount sales of most businesses. My letter gives logical reasons FOR the sale. Here's another example. Right now, I am testing new software to minimise the amount of spam that comes into my email box. I get about 40 spammed emails a day of the worse sorts of rubbish you can imagine. This new software has a 30-day trial, and I am approaching my expiration date. Yesterday I received this email: Dear Bob, We hope you are enjoying your free trial of Spam Arrest! If you are satisfied with our service and ready to sign up for a paid account, we have a great deal for you: SIGNUP WITHIN THE 4 DAYS ANDRECEIVE 2 FREE MONTHS! https://www.theirlink.com That's right! Sign up for any Spam Arrest package within the next 4 days, and we will give you 2 additional months of service, ABSOLUTELY FREE! If you need assistance in setting up your Spam Arrest trial, or have any further questions or comments, please email us at [email protected] This offer expires in 4 days. Thank you. Spam Arrest I've got 2 days to go … and I am counting the days! This software is actually quite brilliant and literally all my spam has disappeared. Because of this email, I am going to sign up before my expiry date. They didn't give a reason for the deadline however. If I were in charge of their marketing, I would test another email along the following lines: Dear Bob, I hope you're enjoying your FREE 30-daytrial of SPAM Arrest. With this free trial, most of our customers find their spammed emails disappear immediately. This is because SPAM Arrest uses new proprietary software that is the most powerful available right now on the entire web. Anyway, I’m writing to you today to extend a very special offer. Your 30-dayfree trial ends on August 29.You don't know it, but it actually costs us $8 to extend this free trial to you, and other customers like you. This is a cost that I'd like to eliminate …and … if you can help us reduce it, we’d be happy to give you an extra 2 months… ABSOLUTELY FREE! By this stage, you've probably already decided whether you're going stay with us or not. In fact, most people decide within a day or two. If you'd be willing to join us in the next few days … you'll save us the balance of the cost of your free trial …and we'd like to pass that saving onto you with an extra 2 FREE months! You see,2 months subscription costs us $3per month. Three dollars is how much you’ll save us if you join in the next few days. It's good business to pass the saving onto you because we know; once you join to our full membership … you'll stay with us for years and years! And why not? You’ll never have the frustration and inconvenience of spam again! But you must act with 4 days. The offer expires after this time. Please click on the link below to organise your membership now and gain the extra2 months, FREE! www.insertlink.com Sincerely, John Smith Membership Manager This IS rather more powerful, isn't it? Scarcity Tactic #2 - Exclusivity Communicate to your prospects that they may miss your offer because of limited numbers. My coaching programs a good example. Between my consulting clients, the businesses I own and other obligations, I can only accept a very limited number of members in my coaching program. In fact, a maximum of just 2 clients a month. This alone creates a desire for it. In addition, I am very strict in who I accept as a coaching client. To be considered, my prospect must fill out a detailed application form and return it to me promptly. So my coaching prospects have two obstacles to overcome, both of which compel action. In addition to this, there's the price. It costs many thousands of dollars to participate. Most businesses can't afford it. Or, let me put it another way: most business owner's aren't committed enough to do what's needed to be successful. Price also acts as a filter. This reminds me of my school days. I vividly remember purchasing junk food such as meat pies, hot chips or finger buns from the shop. As soon as I'd get back to the company of my friends, they were like vultures, wanting a taste of my food. But every now and then, I would purchase too much and I couldn't eat it all. And as I'd been raised not to throwaway food; I would offer my “excesses“ to my friends. And you know what? They rarely accepted. If ever. Isn't that funny? When I didn't want to give them any, they’d salivate like puppy dogs. When I offered, they declined. For so many years, I could not understand this. But now I do, and it has to do with the human desire of wanting something we cannot have. Striving for something out of our reach. Scarcity Tactic #3: Limited Stock Tell people that you only have a strictly limited number of items in stock … or that you've produced only x number of copies and if they don't act soon, they’ll miss out. But you must be honest about it. Don't lie. Before I move on, I have a personal story to share with you about ethics and honesty. On my website,www.betterbusinessreport.com I sold a digital version of a manual, “Inside Secrets Of Advertising.” By digital I mean, a person could pay by credit card over the internet and download the book immediately. They would get an electronic version of the book. I had two packages, silver and gold. I sold the silver package for $97 US and the gold for $197 US. It was selling quite well and I had a decent conversion rate on my website. However, I wasn't happy with the price. I wanted to charge more. So I sent out an e-mail to all my subscribers to say that I was increasing the price on a specific date, at midnight. And if they have been in limbo about purchasing it, they should do so NOW! The price was going to triple. At exactly midnight, Sydney time, I tripled the price. Shortly after, I started to receive emails from people congratulating me on actually following through with the price increase! I was amazed. It just goes to show how dishonesty is rife in the minds of people. It was a powerful lesson for me. For more information about how your business can benefit from these and other powerful marketing tactics you can call Bob Lyon direct on 043 883 0937 or get your FREE report entitled “How To Sell Your Business At Your Price … And Cause A Stampede Of Prospective Buyers Literally Begging For Your Time” by going towww.betterbusinessreport.com/ab4s1.htm