Which Key Elements are Present in Small Business Success Stories?

Would it not be a dream come true to wake up one morning and receive some really great news, news like you have become an icon overnight, and your business has become the next big thing.

Unfortunately, reality does not work like that. In order to have your very own small business success story, one must put in a lot of effort, time, hard work, dedication, and much more. Similarly, there are key elements which play a very important role in helping one achieve their very own success story.

These key elements help one develop a professional as well as a personal transformation. These transformations are very important in this era as everything is developing around us at a superfast speed. These elements are the foundation behind small business success stories, they include:

  • Being relevant and professional throughout.
  • Solving problems while initiating solutions with immediate action.
  • Caring about others will want them to care about you. In the world of business, it is important to look out for your partners and your peers.
  • Your personality can actually turn tables around – charm, charisma, humor, and how serious you take your business matter.
  • Be social, the more you interact with others, the more it will benefit your business in the near future. It is important to make contacts.
  • Always be authentic, do not lie or cheat to make your way to the top. It will not take long for a lie to be the reason behind your fall.
  • Your entire focus should not be the selling of the product. It should be on serving and providing your customers and buyers with what they want and what they need.
  • Never break no matter how tough the times are upon you and your business, it is a part of being a business owner. Even the most successful of owners have been through the worst crisis in their lives.
  • Will and determination can do wonders.
  • Acknowledging and accepting change is a part of the lives of business owners, do not stick with the past. Go with a mindset of 10-15 years in the future, if you want your very own small business success stories.
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Building Customer Loyalty – Attracting More Customers to your Business

When you exceed customer expectations, you create a positive connection with them and get more customers for your business.

Referrals are one of the most effective ways of growing and expanding your business, yet many companies struggle in this area. In today’s competitive marketplace where your competitors are merely a click away, customer service has become the ‘new’ marketing.

It is no longer a secret that customers mostly rely on their friends and family to recommend products and services. And customers that approach you through this channel are convinced that you’re the perfect option for them.

Starting a Referral Program for your Company

Let your customers do the selling!

If you’re unsure how to begin a referral program for your company, don’t worry. Here is a list of seven steps that can help you get more referrals for your company.

  • Step 1 – Creating a Referral Generation Plan

If you think referrals are always generated automatically, you’re wrong. While some referrals might just happen automatically, majority of these are triggered actively. Many business owners believe that a terrific customer service or an excellent product or service is enough for generating referrals by default. However, this is not the case. In order to create a powerful referrals program, you need to approach your customer actively and ask them to be a part of your company’s referral program.

  • Step 2: Offering Support

Once you approach your customers and invite them to become a part of your referral program, the next step is to guide them how to go about it. You can provide support in the form of your business cards or giving them a referral link. This would help you power up your referral program and improve your odds of achieving success.

  • Offering Incentives

This is the most fascinating part of a referral program. The type of incentives you promise to give away should be related in one way or the other to the type of business you’re doing. This may be a free item, an upgrade, a discount, commission or anything that would entice your customers to provide referrals. It is also essential that you share the details of your referral program with your loyal customers via emails, newsletters, or through a blog.

I’m going to talk more about it in the next blog of the series. Don’t forget to follow up!

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Importance of Marketing Mix in your Marketing Strategy – Part 2

In the previous blog, we discussed marketing tips through which you can take your business to the next level. Here, we are going to talk more about it. So let’s begin!

·         The Target

When you are marketing, you must strategize about who you want to target with your messages. Your main consumer group becomes your target customer of your marketing campaign. Your price and product offers a certain direction to identify the ideal audience.

·         Message Delivery

Evidently promotion factor address the actual method of distributing and creating messages regarding your products and brand. In promotion, you have to determine which formats and messages to utilize in order to encourage your target audience to buy your products or service. Anxiety, fear, sexuality, and humor are utilized to add an emotional appeal in the marketing. Choosing the right media within billboards, internet, magazines, newspapers, radio, and television, as well as other support media is another significant element for successful promotion.

·         Value Creation

Generally, marketing mix enables you to determine the right ways of building and selling value for your customers. Eventually, customers mostly purchase what they perceive to be the best value for their money in the buying situation. Implementation of the marketing campaigns showing off greater products in fair prices provides you a better chance in succeeding. Finding fair and affordable marketing preferences can also assist you in getting a better return on marketing investment.

 Bottom Line

Generating demand for your product or persuading your target audience to purchase something that they don’t even want can take money, time, efforts and time. Discovering a need and simply fulfilling it is far less expensive and easy as compared to generating a need.

However, you would stand a better chance with good market research as it will provide you objectivity and usually encourage your customers and prospects to share issues which they usually won’t tell any company. It also frequently reveals that whatever message you believe you are communicating isn’t exactly the same received by the prospects. It will also assist in clearly indicating compelling ways of differentiating your business from your competitors as this will help in drastically increasing your conversion rate.

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Why Becoming a Billionaire is Easier than You Think

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Most people’s relationship with money is of never having enough. Most people live a “paycheck-to-paycheck” existence, and use this month’s paycheck to pay off last month’s bills.

A paycheck, no matter how big, cannot be defined as wealth or riches. So often people seem to mistake getting a bigger paycheck or salary for getting richer, nothing could be further from the truth for more than 95% of the population. As you well know, most people spend every dollar they earn, and then some.

The first stage in your quest for riches is to get yourself to a stage where you’ve made enough investments over time to give you what I call a passive income rather than a paycheck existence. Your investments and businesses make money whether you get out of bed or not.

Reaching passive income is your first goal. To put this into perspective, this goal takes most people their entire working lives to achieve. The only time they have passive income is in their retirement at age 65 or older.

However, if you know what you’re doing and you’re diligent in your desire to create riches, this goal of having $2,000, $5,000 or even $10,000 a month in passive income can be achieved in about 3 years if you’re quick, 5 if you’re not, 7 if you want to take it a little slower and maybe a year or two longer if you’re currently deeply in debt.

Waiting until you’re 65 is crazy when, if you follow even just a few simple steps, you can easily reach this goal in 3 to 7 years, or as I did, by the age of 25.

I know most people I’ve met would be extremely happy with just this level of wealth, if you are then that’s great, but you’re about get a very rude shock when I show you how easy it is to move to the levels above this.

The next stage in your financial growth is what I can wealthy. In today’s world a millionaire is merely wealthy, not rich. Becoming wealthy, in the traditional way, takes far too long. It’s a very slow process that involves investing a modest percentage of your income over a long period of time. Wealth comes when you not only have passive income, but also assets to back it up. Wealth comes when you’ve truly cemented your long-term passive income with the steadiness of physical asset growth.

 

Take action NOW… to get more strategies and philosophies on buying, building and selling business to leverage you as the next billionaire. I will be in 7 cities this April; here is your opportunity to attend my FREE seminar, The Billionaire Tour, where I help you become the next billionaire…

 

Tuesday, April 5th 2016 – Spokane, Washington

Wednesday, April 6th 2016 – Edmonton, Canada

Thursday, April 7th 2016 – Grande Prairie, Canada

Tuesday, April 12th 2016 – Waterloo Region, Canada

Wednesday, April 13th 2016 – Chicago, Illinois

Thursday, April 14th 2016 – Washington DC

Tuesday, May 10th 2016 – Tallahassee, Florida 

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Importance of Marketing Mix in your Marketing Strategy – Part 1

The marketing mix is a significant tool for creating the right marketing strategy and its implementation through effective tactics. The assessment of the roles of your product, promotion, price, and place plays a vital part in your overall marketing approach.

The mix helps in determining which marketing strategy is right for your organization. It is the first step before you even create your business or marketing plan. The reason is that your marketing mix decisions also have an impact on your positioning, targeting, and segmentation decisions.

You can make the targeting and segmentation decisions based on your products while positioning can be decided on the basis of your price. These decisions also have an impact on the decision you make regarding the promotion and price. Therefore, the marketing mix strategy goes hand in hand with positioning, targeting, and segmentation.

All the elements, included in the marketing mix and the extended marketing mix, have an interaction with one another. If you have a service or a product, then you will have to decide on a price in order to sell it.

Small Business Marketing Tips

The ways in which you communicate/market your service or product plays a big role in how your business is perceived by your target audience. The price you sell your service or product at will help in inferring a special quality. If you are effectively communicating about the product then it must be sold in a place where your target audience can easily access it. All these elements have an influence on one another and help in creating an ideal marketing strategy for your company.

    – Offering

A part of marketing is to convey to your customers what you are offering them and why is it better and different as compared to the alternatives. The product element is rather apparent in the offering as your product or service is what the customers buy. Where you are offering it, whether online or in store, is also essential which makes distribution element a factor. The pricing factor is an element of overall offering as it affects the value of your product.

We are going to take this discussion further and talk more about it in the next blog of the series. Don’t forget to follow up!

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