These are exciting times!  I have some amazing things coming up that you’ll want to tap into.  I have two absolutely fabulous best selling authors coming on my radio show.  I’ve got Randy Gage, Prosperity Expert as well as Charmaine Hammond, Author of On Toby’s Terms.  (You’ll hear more about how her book is in development to become a major motion picture, too!)  Stay tuned for details.

Remember – time is running out to register for my Entrepreneurial Edge System 3-Day Intensive!  It’s where I take small business owners through a systems approach to profitability.  Are you joining us this year?

Because of the number of questions about my Entrepreneurial Edge System 3-Day on May 12-14, 2011, I’ll be holding a special Q&A call this Friday at 12 p.m. Eastern Time.  So, if you want to learn what it’s all about, register for the call.  I want to make sure to address your questions about the event.  (I appreciate that you let me know what was on your mind).

To view the questions, submit your question, and register for the call, click here. 

On a related note, if you caught my brand new, free 5-part training video series called Get More Clients Now at http://www.getmoreclientsnowvideos.com then you know the kinds of results that are created when you take a systems approach (especially for today’s marketplace).  I’ve already received emails from many of you who are implementing the tactics I shared in the videos.  Thanks for the emails and blog comments!

In case you didn’t see the videos yet, check them out now.  It has made a huge difference in what I’ve been able to accomplish in my own business and in the lives of my students who applied this same approach to their small business (regardless of how long they’ve been in business).

Create a great life,

Lisa Mininni

And now for this week’s high content article…

Small Businesses Can Learn A Lot From Netflix

Let’s face it.  The marketplace has changed considerably.  We have an educated consumer who has information at their fingertips.  They are comfortable with self-service and have a variety of choices.  They seek out and get their information through social media, text, and are accustomed to instant access.

Netflix was wise to keep an eye on the marketplace.  In 1997, Netflix launched a traditional pay-per-rental model, but just one year later adopted a flat-fee unlimited rental model without due dates or shipping or handling fees.  They later dropped their pay-per-rental model and, by 2003, when many corporations were still in downsizing mode, Netflix posted profits.  They noticed several things happening.  DVD purchases were on the rise.  Integration of the internet and e-commerce solutions provided opportunities that many bricks and mortar competitors could not compete with.  Affiliate programs were also on the rise which would help them build online sales.

Although Netflix is now a multi-million dollar business, technology makes it possible for even a small business owner to deploy similar strategies to bring in consistent cash flow.  Consider these same strategies for your small business that helped Netflix become a multi-million dollar corporation:

1. Know your Ideal Customer Behaviors.  When you have a deep understanding of your ideal customer, you’ll be able to deliver services your customer wants, like Netflix did when they realized their customer’s buying habits changed.  With gas prices soaring and food prices rising, buyers decided to stay closer to home for their entertainment.  The customer also wanted convenience.  They were too busy to pick up and drop off movies.  Netflix decided to bring the movies to them.

2. Think Continuity.    Netflix changed their model from traditional pay-per-rental to a monthly subscription.  When people are already watching their pennies, a flat-fee helps the customer keep an eye on their budget. 

Many coaches, speakers, and consultants set up a high-priced, one-program model (their Yes or No-and-Go Model.)  The problem with this model is that when you meet with a prospect you’re setting up only two choices:  They work with you or they don’t and they go away.  This is the reason why many coaches, consultants and other small business owners who rely on a consistent supply of new clients struggle at an alarming rate in today’s marketplace.   Offering just a high-priced consultancy model has no continuity and could be the very reason you find yourself chasing the next prospect and experience stop-and-go cash flow.   Adding continuity programs and subscription-based solutions to your business model gives your customers another way they can work with you and helps you to bring in recurring cash flow.

3.  Add an Affiliate Program.  Netflix helped build their online sales not only by partnering with other companies, but also by offering an Affiliate Program.  An Affiliate Program is a marketing strategy where a business rewards your Affiliate for each customer brought about by the Affiliate’s marketing efforts.   The reward is usually a percentage of the actual cost of the program or service or a flat fee.  It’s a great way to reward your referral partners or sources.  Plug-and-go Affiliate programs help small business owners grow their business quickly and begin rewarding their referral partners.

It’s an opportunity-filled marketplace with plenty of resources for small business owners to grow their business.  However, before you start to execute in bits and pieces, take a look at your entire business to see how these tactics fit into your overall business strategy. 

To learn more about the strategies discussed in this article and to discover how they fit into your business model, join us for a free informational call tomorrow.  Click here to register.

Recently, someone in my community emailed me to say that they were impressed with all that I do, but that it looks tough because they see or hear about me everywhere.  You know, that wasn’t the first time I heard this.

 

Truthfully, when I first got my business started, it was tough.  Why?  I was doing things the hard way.  You know, meeting with people then doing lots of calls, then waiting to hear back from them.  Doing the networking, prospecting, and follow up – all manually.  Yikes!  No wonder I was exhausted.

 

But now, I have my systems doing the work for me.  It made all of the difference in the world!  It is precisely the reason that I brought in 25 prospects in a matter of days, filled my practice with 71 new clients in less than four months and continuously fill my prospect pipeline.  That’s what taking a systems approach to profitability is all about.  It pulls in your prospects automatically, systematizes and monetizes your business, so that you spend time on what’s most important in your life. 

In a survey that I completed with 377 entrepreneurs, 49% said their biggest struggle was marketing and marketing systems.  In that same survey, 35% said their second biggest struggles related to quieting the inner critic, balancing work and personal relationships, while seeking new business and motivating oneself to take risks.  (It’s all of those things that are part of your Inner Entrepreneur.) 

So, it got me thinking about all of those things that it took to get profitable in today’s marketplace.  That brings me to my Special Announcement.  I’ve been working on something really special for you and I’m getting ready to release the first of five free training videos to show you precisely what you’re missing in your business to pull in more clients, make more revenue, and spend time on what’s (or who is) most important.  I know you’re going to get a lot from them.  Stay tuned for a special announcement on the video series release!

Speaking of spending time with people in your life that are most important, last week I mentioned the great time I had when my parents came to visit.  In a shopping excursion I took with my mother, there were some very interesting insights on how people make buying decisions and it has everything to do with how they are hardwired.  I thought I’d share my insights with you in today’s article.  

Enjoy this week’s business growth tip and high-content article below!  Until next time…

 

Create a great life,

Lisa Mininni

This week’s high-content article:

Everything I Learned About Methodical Decision Makers, I Learned From My Mom

Whatever you’re selling, you must reach out to a decision maker.  All kinds of selling techniques are used, but the bottom line is decision makers are people.  They have identifiable needs, preferences, and even motivations for what they buy.  They have goals, dreams, and hopes.

That couldn’t be truer when I recently took my mom out to look for a dress.  Let me start by saying that my mother has impeccable taste.  She puts great thought into her buying decisions.  This particular dress had to be the perfect dress.  Why?  It is for her very first granddaughter’s wedding in August.

When we started off on this adventure, I knew it would take several days. Why? My mom is a methodical decision maker who toils a great deal about her decisions.   She studies the most microscopic details before she buys and asks many people for their advice.  She will need to try on many dresses and see many options.   I, on the other hand, did not get that gene from my mother (that is, if the shopping gene comes from the mother’s side).  I must admit that I’m probably one of few women in the world who doesn’t like to shop.  When I do need to shop, I have an idea of what I’m looking for, I go in, get what I need, make a decision, purchase, and leave.  But I know my mom, and she likes to go in, look at every rack, explore all of her options, try on those options, and think about it for some time.  And then, and only then, after much deliberation, she will make a decision. 

So when she asked if she could come for a visit and if I would go shopping with her for a dress, I knew that it would not be a one-day adventure.  For those of you who know me, you know that I have over 20 years of experience with various behavior-based assessments.  So I took my years of experience, and applied it here realizing that I needed to get out of the way of my mom’s decision-making process so she could make her decision.  I’m well aware that my quick-style decision making can put undue pressure on my mom who is a methodical decision maker. 

I was bound and determined to give my mom all the space she needed to make her decision. I took her to one of the finest stores in the area figuring that would be the best strategic move in securing a decision.   We went into one of the finer stores and would you believe, there it was:  the most perfect two piece dress.  As she put on this violet colored top and then the chiffon flowing floor-length skirt, it fit her well and the color was perfect on her.  While a two-piece dress (top and skirt) was not originally what my mom had in mind, the sales person assured her the skirt could be cut down with simple alterations at the store.  Additionally, she could return it for a full refund if she found something else.  In typical methodical decision-making fashion, my mom studied that dress and tried it on several times.  I noticed that she was really studying the tags, but my mom tends to do that from her many years as a checker for a major department store.

I could tell something was still bothering her so we continued to look.   I’m convinced that each store conspires to purchase the same dresses no matter where you go because two major malls, 10 stores, and 51 dresses later, there was a whole lot of -overlap from store to store.  However, there was no other dress like the one she put on at the first store.

After two days of shopping, we went back home.  She needed reassurance from my father and my husband, so she tried on the dress and got the reassurance she needed from them. 

When my mother and father left to return home, I wanted to make sure that I didn’t put pressure on her to make that buying decision because I noticed she didn’t seem really excited about it.  My mom gets really excited, almost giddy, when she makes a good buying decision.  I called her up a few days later and asked her if I put pressure on her to make that decision.  She said, “No, why do you ask?”  I let her know that I noticed she didn’t seem really excited about the dress.  I asked her if there was something wrong with it.  She said, “Well, now that you mention it, I noticed that the tags had two different colors on them.  The top said Violet and the bottom had another color.”  Visually the colors matched, but it likely had two different colors on the tags because the fabric was different so the dye lots would have to be different.

 

Methodical decision makers have a natural tendency to look for discrepancies and try to remove risk by stockpiling all of the details.  One out-of-place detail can turn a “yes” into a “no”.  They are very thorough and think things through.  This is an asset because they look at every possible scenario.  They view this thoroughness as being efficient so they don’t have to do any rework later.  Like all decision processes, it must be managed.  When applied to a business scenario, this level of detail could also slow down a process and result in missed opportunities or delays. 

Ultimately, my mom acknowledged that it made sense that the tag colors were different; but there’s still time between now and August to see if she changes her mind.  After all of these years, I learn a lot from my mom.  I couldn’t have asked for a sweeter, more generous Mom and spending time with her is priceless.  Thanks, Mom, for being such a great teacher. 

Have you met a methodical decision maker?  How were you able to make it work with them?

You know something? I’m really lucky. No, I didn’t win the lottery. Much better. My parents visited last week. It was really special spending time with them. I’ve got a funny story to tell you that will be part of next week’s high-content article.

Oh, and just a reminder that if you haven’t yet registered, time is running out for you to sign up for TODAY’S FREE webinar: Seal the Deal 98% of the Time. There’s a very special announcement I’m making at the end so you’ll definitely want to stay until the end. Bring a pen and lots of paper, I’ll be sharing content you can use to authentically close more sales.

Enjoy this week’s business growth tip and high-content article below! Until next time…

Create a great life,

Lisa Mininni

This week’s High-Content Article:

Plant Today What You Want to Harvest Tomorrow

With Spring around the corner, the ground is thawing and seedlings are sprouting up from the soil. It raises the question: What’s your plan for growth?

Like cultivating your garden for growth, successful entrepreneurs realize that what is happening on the inside will always be reflected on the outside. In a survey that my company completed with 373 business owners, over 1/3 said their second biggest frustration related to:

Quieting their inner critic

Balancing work and personal relationships while seeking new business

Motivating oneself to take risks

In addition to the inner critic nipping at you, lack of clarity on how to stay motivated, and not having your ideal client clearly scoped out, it’s no wonder 50 to 60 percent of businesses fail in just their first year.

Just like the poor soil that attracts weeds, if you aren’t focused on your own growth, you will end up networking, collecting business cards, and try hard to pitch your services without success.

You look externally by haphazardly reworking your website, get caught up in the day-to-day operations, and try to do it all yourself. You might even ask yourself:

• How do I make more sales without feeling pushy?

• How do I implement focused marketing?

• How do I find my ideal clients?

If you lack the confidence, you very well may feel pushy in selling your product or service. If you lack a clear plan on exactly how to grow your business, you’re going to play it safe rather than do what it takes. If you feel desperate, your prospect no doubt will feel your push. If you’re unclear about your exact target market, then implementing focused marketing will be nearly impossible because you don’t know where your target market hangs out, their preferences, and even what and where they buy. What is happening on the inside, is reflected on the outside.

The more you nurture your inner entrepreneur, the more it affects the outcomes of your business. So what is the secret ingredient to grow that inner entrepreneur? According to Carol S. Dweck, author of Mindset: The New Psychology of Success there are two fundamental mindsets that people use: the fixed mindset and the growth mindset.

She describes that those with a fixed mindset believe their abilities and talents can’t be enhanced through any means. They believe that they are born with a level of talent and generally don’t challenge their abilities because of the possibility of failure. Instead of viewing challenges as an opportunity for growth, individuals with a fixed mindset view challenges negatively. They also don’t invest in themselves and try to figure it out themselves.

Yet, people who practice a growth mindset believe things such as intelligence, talents, and abilities are and can be developed over time. When presented with a challenge, individuals practicing a growth mindset tend to rise to the challenge. They do not give in to the fear of failure. They stretch themselves, seek out assistance, and invest in themselves. They look at those investments as valuable nutrition that aids in their future growth. They begin to see and do things differently because they are continuously developing themselves.

Each time I invest in myself, it has paid off many times over. In just these past six months, I invested in myself with a program that has already provided a healthy return on investment personally and professionally. Take a moment to ask yourself, “What specific steps am I taking to invest in myself so that I yield a strong harvest this year?”

P.S. If you and your business are not on solid ground and you want to change that this year, then join us for the Entrepreneurial Edge System 3-Day Intensive LIVE Event on May 12, 13, and 14, 2011. I will walk you through this easy-to-implement system showing you how to get clear about your client, develop a solid business model with consistent cash flow, and show you how to put your marketing on autopilot. This proven and guaranteed system is complete with marketing systems and scripts, resources, lead generation systems and an implementable business blueprint. Discover this turnkey system no matter how long you have been in business. Find out how you can consistently fill your prospect pipeline by attending our Entrepreneurial Edge System 3-Day Intensive. Visit http://www.freebusinessplanformat.com for a free downloadable eBook and to get free weekly business growth tips. By registering for today’s Seal the Deal webinar, you’ll also learn all about our next LIVE Entrepreneurial Edge System 3-Day Intensive scheduled for May 12, 13, and 14, 2011!