How to Effectively Analyze Your Business

 Whether your business is successful or not, it’s a good idea to regularly analyze your business and see where there is room for improvement. Many companies will hire an outside consultant to address this process, but if you’re a small business owner or affiliate marketer or you like to review things personally and regularly, it’s possible to use a simple, three-step process for generating the right questions.

By defining your business, researching your business, and comparing the research and your definition, you will actually see that the right questions generate themselves.

Define Your Business

business success

What are the goals of your business? Who are your clients and what do they value? These are some of the general, goal-oriented questions that you can later hold up against the actual feedback you collect.

Create a flowchart of your business process, and a scope study to clearly define the role of every participant. Look over financial statements and specific analysis of different departments.

Imagine yourself creating an encyclopedia entry for your business. Condensing your business vision will help you pick up on recurring themes and solidify your goals.

Research All Angles

If you’re not sure what questions to ask, have other people generate those questions for you! Consider gleaning feedback from your workers about their views, and ask them to identify their roles and how they fit into the bigger picture. Collect client feedback about your product or service and its implementation.

Also consider asking the opinion of ancillary participants in your business, such as accountants and suppliers—even friends or acquaintances you’ve discussed your business with. Sometimes you’ll find a gem of wisdom in the most unexpected place.

Analyze the Results and Create a Plan

Once you have tangible research, compare that to the flowcharts, scope studies, mission statements, and financial analysis you assembled before. Ask yourself two basic questions: (1) are the goals and results matching up and (2) why or why not? This is a good opportunity to spot problematic areas of transition in the business process, or determine if employees do not understand their role.

Assemble the disparities into a report; consider generating a discussion with your board members and/or advisors about how to make a plan of action that can address these questions and steer your business back on course toward your desired goals. In order to allow for progressive improvement, also consider asking where you envision your business in one year, five years, and ten years.

How to Create a Realistic Business Plan

busuness plan

So you have a great idea about a particular product or service, but don’t get swept away in the emotional high. Examine the marketplace that provides the context for what you’re offering. Are there competitors? How many? How are they performing?

Also research the process of your product or service. Where will your product be manufactured? How much will that cost? What hardware do you need to offer this service? Do you need a brick and mortar storefront, a mobile unit, or an online store? How will you effectively market your product?

Find the Right Crunchy (Numbered) Peanut Gallery

It’s important while considering these questions to analyze hard numbers, because numbers cannot lie. Feelings and intuitions, on the other hand, can be misleading. Find pragmatic but positive people to discuss your idea with. Negative people don’t feel like anything will succeed, so their opinion may not be helpful. At the same time, people with big dreams but little interest in practical details might also give misleading encouragement.

 Executive Summary and Description

 The opening part of your plan will outline what you’re looking for and describe your business in concise terms. Describe the industry as well, so the reader can position your business. It’s important to clearly introduce your business so your reader won’t get lost in the specific details.

Market Strategies and Competitive Analysis

Analyze the market. How will you enter it and compete with established businesses? What type of clients are you targeting? What are the strengths and weaknesses of your competitors? What barriers will you face when attempting to enter the market?

D&D and O&M

No, D&D does not refer to rolling twelve sided dice and moving small figurines around a fantasy landscape. It stands for Design and Development, which entails describing your product and the various stages of its development, including manufacturing, sales, delivery, and implementation. The Operations and Management component will detail each department’s role within the company, and how those departments function together.

Financial Analysis

finance

Now is the time to crunch numbers. What will your expenses be for materials, labor, management, marketing, and any other miscellaneous areas of business? What are your expected profits over the course of the first year and beyond? This is the section that can make or break your business plan when setting it before a banker or investor.

Reality Check

Once you’ve assembled your plan, return to your peanut gallery and see what people think. We can often become biased when it comes to our own ideas, so running your proposal in front of new eyes is an excellent way to do a reality check on your thinking.

 

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Do THIS to Reduce Refunds AND Increase Sales

Most new marketers make the painful mistake of thinking the sale is done when the customer buys the product.

Nope.

That’s just the first sale.

Wise marketers who want to stay in business and continue to profit know there are two more sales to be made.

First, you’ve got to sell the new buyer on how great your product is. If you don’t, you’ll get refund more requests.

Second, you’ve got to sell your new buyer on consuming and using your product. When you do, these new customers are far more likely to purchase additional products from you, often at much higher price points.

Interestingly, you can make both of these sales with one simple technique. I’m going to assume that the product in question is an information product, and that it’s a good one – no junk.

Here’s what you do:

When you collect reviews and testimonials prior to launch (you are doing that, right?) you’re going to ask a couple of extra questions of your reviewers:

1: Which is your favorite section/chapter/video of the product?

2: What did you discover and how will you use this information to achieve your goal?

Your questions might be slightly different depending on your product and your niche.

The gist is to get each reviewer to choose a favorite section of the product and tell you what they’re going to do with this information.

For example, “The third video taught me how to add an additional $10,000 to my monthly income with just a few small tweaks to what I’m already doing.”

Or, “The fifth chapter revealed a mistake I’ve been making that nearly cost me my marriage. Now that I’m aware of it, I’ve made a simple adjustment that’s brought my husband and me back together again and we feel like newlyweds!”

You can use these in your sales material, but you can also place these INSIDE your product to remind your customers of why they made the purchase. You might place the testimonials at the beginning of chapters, or one the page containing that particular video, or wherever it’s appropriate.

After people buy your product, they naturally forget most of what the sales letter or sales video told them. A week or two later, they might only remember they paid $199 for a product that will teach them how to blog. If buyer’s remorse sets in before they even consume your product, you’re done for. A refund request will be on its way to your inbox.

By adding these very specific testimonials, you remind them that others have found your product particularly helpful. This can get them to read or watch your product and see how great it is. Then instead of asking for a refund, they’ll be wondering what else you can offer them.

A couple more tips: Use these testimonials as well as bullet points in the follow up email series you send after making the sale. This will remind new buyers of what a great decision they made in purchasing your product and encourage them to consume it and use it.

At the beginning of each chapter or section, as well as on the page where each video is loaded, add in a list of bullet points telling them what they’ll discover in this material.

Remember, it’s important to not just make the initial sale, but to also sell them on the idea that they made a smart purchase as well as selling them on consuming the product. When you do, you’ll reduce refunds dramatically as well as encourage your new buyers to make many more purchases from you in the future.

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This Stupid Mistake Will Cost You Sales

Don’t even second guess when I tell you that…

…an abundance of typos on your sales page will create doubt in your prospect. They’ll suspect you have no clue what you’re doing.

Further, they may suspect you’re a fly-by-nighter, someone who threw a site up to grab sales and then disappear like vapor in a storm.

Yes, we all make typos – including and maybe especially me. But I take great pains NOT to make them on sales pages, for good reason.

Recently I was intrigued by an email promising to build a news site that would generate an income for me.

Okay, I know what you’re thinking already. Yeah. Right. Sure it will.

But what the heck… I clicked the link, scrolled down a bit, and here’s the first paragraph I read:

Last Trending News

Your News Dashboard Bring To You The Last News to Easly Click&Post. You Can Pin The The News With One More Click To Make Your Posts Unique.

How many errors did you find in this tiny bit of copy?

I found 6 or 7, depending on how you count them.

It should read…

Latest Trending News

Your News Dashboard Brings To You The Latest News to Easily Click & Post. You Can Pin The News With One More Click To Make Your Posts Unique.

Even then the writing is terrible.

Yes, English is obviously their second language.

But they couldn’t spare a hundred bucks to get someone to check their copy for them?

Sale lost.

Lesson learned:

Typos in sales letters can and will lower your conversion rates.

 

 

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How to Make Big Money NOT Selling Products

Okay, obviously you are selling products… but then again, you’re not.

You’ve never woken up wanting 12-video course and neither have your customers.

But plenty of people wake up wanting to finally solve their problem that day. They want a solution they can believe in. They want one that makes sense to them and isn’t pie-in-the-sky bullsh**.

And here’s the twist: The solution your customers want isn’t always what you think it is.

Do you think your overweight customer wants to lose weight?

Nope. What she wants is for her clothes to fit, to not get winded walking up the stairs and for her husband to look at her like he used to when they were dating.

Do you think your financially challenged customer wants to make money?

Nope. He wants to stop waking up in a cold sweat at 3am because he has no idea how he’s going to pay the mortgage or how he’s ever going to be able to retire.

Do you think your kid-client wants to learn martial arts?

Nope. He wants to be able to walk onto the school yard without fear of being bullied, and he wants his friends to look up to him, too.

Most marketers who think they’re in the business of selling products can’t figure out why their sales are lousy.

Quick Story: Ten marketers are all competing to sell their ‘Make Money FAST and EASY’ products.

9 of them talk about the money. Mansions. Fancy cars. Super model girlfriends or boyfriends. Living life on a beach with room service or owning a yacht. You know… the kind of stuff 99% of people can’t even relate to.

One of them talks about enjoying life – a normal life of owning a home, staying home with the kids and never going into the office again. He talks about working less and living life on your own terms.

9 of these marketers are doing churn and burn marketing because their products don’t turn people into millionaires overnight like they say they do.

1 of these marketers is making an awesome living without stress. He doesn’t have to worry about customers complaining that they didn’t get to buy the yacht after one week because he never makes promises like that.

He gives them the solutions they seek, and he does it in a realistic way that they can believe will work for them.

Sell a solution that makes sense to your customers using their own reasons for buying it and your sales will go through the roof.

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7 Marketing Trends for 2021

The new Global Marketing Trends 2021 report from Deloitte Insights provides us with clues for what is heading our way in marketing.

Despite pandemic overload, consumers have a positive perspective on how brands are responding to the current environment, providing for positive experiences and even increased brand loyalty.

The top 7 trends are pointing to a need to lose the façade we often present to customers and instead be authentic while holistically meeting their needs.

1: Purpose

Why does your business exist and who are you serving? If you know this, being authentic comes easy.

2: Agility

During times of change – such as during a pandemic – imagination and innovation are key.

3: Real Connections

Authentic human to human connections are more important than almost anything. Consumers will pay far more for the product with the heart-warming story or the ethically designed supply chain.

4: Trust

This one never goes out of style. Try shifting your focus from demographics to values. Make a promise you can deliver and then deliver on that promise.

5: Customer Participation

Customers are now and will continue to be an active component of the sales process. They write online reviews, offer advice to other customers, join conversations on social media and even create brand relevant content. Embrace this trend because it’s not going away.

6: Fusion of Ideas and Strange Partnerships

Your business isn’t an island, or at least it shouldn’t be. Join together two different products to create a third, or even partner with non-competing businesses to offer your customers something new and relevant that they need or want. For example, a life coach could partner with a physical trainer and a dietician to completely remake a person’s life.

7: Talent Transformation

You don’t need to be an expert in most areas to gain a competitive advantage. Thanks to the gig economy as well as the ability to get help from expert freelancers all over the world, it makes more sense to focus on the big picture and let others handle the small details for you, especially if you hope to build your business to a large size in a short amount of time.

For more examples of these 7 trends, visit Marketing Land here:

https://marketingland.com/7-marketing-trends-for-2021-282192

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Fast Tips Increase the Amount of Each Sale

Don’t Sell – Do This Instead

You’ve got a great ebook on dating for women, so you talk about how they’ll get dates with amazing guys, right?

That will work. But what will work even better is if you tell them their story – the story of how ever since they were little girls they’ve been waiting for the love of their life, their prince charming, and how your product will finally make that little girl’s dream come true.

You’ve got a great ebook on making money, so you talk about the easy money, the fast cars, the mansion they’ll buy. Sure, that will make some sales for you.

But do you know what will work even better? Telling them the story of how they’ve struggled, how they’ve always felt a little bit like a failure because they couldn’t afford the 2 weeks at baseball camp their son wanted, or the music lessons their daughter wants. Tell them the story of how their in-laws always looked down on them because they’re weren’t a good provider. Tell them the story of fearing they couldn’t make the next house payment, or of being afraid to pick up the phone for fear it’s a debt collector, or of lying awake at night wondering if their daughter’s friends would all go off to college while their daughter worked as a waitress all her life.

Offering benefits sells. Telling stories sells even better.

Increase the Amount of Each Sale

Do you sell tangible items? Or do you have a whole bunch of different information products to sell? Then pay attention – I’m going to show you how to sell 30-100% more on each sale.

This is all about human nature – we buy more of things that are limited. So if we see a sign that says, “Limit 4 per customer,” we are likely to buy more than if that limit wasn’t in place.

This also works in pricing. For example, 10 for $10 will sell more items than simply saying the items are $1.

So if you sell something tangible like vitamins, try limiting the quantity customers can buy. And if you’ve got a slew of information products in the same niche, you might try pricing them at 3 for $29.99 for example, rather than $10 apiece.

Fast Tip For Decreasing Refunds and Increasing Name Recognition

Here’s an all too common scenario – you sell a product and the next day the purchaser asks for a refund.

Or you sell a product, but when you send emails to the buyer, they don’t remember who you are.

Here’s a simple idea to simultaneously help you on both of these fronts:

Split your product up into 4 separate modules and deliver each one a week apart. This means you’re delivering your product over a 22 day period – still well within a 30 day money back time frame. The first module goes out immediately, the second one goes out on day 8, the third on day 15 and the forth on day 22.

This will reduce refunds because customers are waiting to get all of the material, and in the process they’ll tend to forget about the refund.

And because they’re expecting your future releases, you’ll enjoy better name recognition from them, helping to ensure they open future emails.

It doesn’t matter what you are selling, this app will help you sell it!

To create landing pages that convert, you need to have compelling sales scripts. You can get more clicks, more sign-ups, more commission if your sale script catches immediate attention.

Scriptdio is a new, first of its kind, groundbreaking app, which allows you to generate full-length sales scripts and headlines by simply swiping done-for-you templates and filling in the blanks.

It is using proven copywriting formulas inspired by the greatest known copywriters.

Sales scripts based on the same fundamental key copywriting principles, which are the base of Scriptdio frameworks, worked great for many businesses for over three decades and even helped many people to make sales presentations.

It doesn’t matter what your business is selling with sales scripts generated by Scriptdio.

It can work for all and any businesses and products, no matter the market niche.

It doesn’t matter if you are selling services or you are selling products.

It doesn’t matter if you are selling digital or physical products.

It doesn’t matter if you are giving away something for free to generate more leads.

It doesn’t even matter if you are just selling an idea or a concept.

If you want people to take action, Scriptdio is the software for you.

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The Best Way To Succeed In Business Is To BE In Business

“The Best Way To Succeed In Business  Is To BE In Business”

Now doesn’t that just sound like the stupidest quote ever? And yet I’m about to demonstrate to you just how profoundly true that quote is, and how it can totally change your business life.

First, a word of caution: If you are waiting for the “perfect” business idea or plan to get started, then you will never, ever start. Nothing is perfect, and there always seems to be another idea that is more intriguing, exciting, newer, etc. just around the corner. Yes, the grass is always greener – and if you’re always looking at the greener grass elsewhere, you will die without having started your business. It’s that simple.

So if you haven’t started yet, then choose an idea that is good enough (not perfect) and just START now.

Okay, back to the quote. Those of you who have been in business for awhile can certainly attest to what I’m about to share with you, and it’s this: Only when you are in business will you see the next big thing and the next big thing after that.

Let’s say you sell widgets, and while you’re pitching your widgets, you’re told by your customer that your competition is now delivering their widgets in an entirely new way. You never would have known this had you not already been in the business. So what do you do? You could run back to the office and moan and groan that your competition is leaving you in the dust, or you could figure out what they’re doing and then find a way to do it better/faster/cheaper. If you do, you’ll smoke your competition and grow you business. Bottom line, you  never would have known that your own business needed to evolve if you hadn’t been in business in the first place.

Another example: You’ve built up a terrific mailing list of people in your niche who love you and trust your advice. A red hot expensive product comes out that you and all of your competitors are going to promote as affiliates. But because you’ve been in business for awhile, you’ve got the list and the trust of those people on the list. Result? You make MASSIVE affiliate commissions that you never would have made if you hadn’t already been in business.

Third example: You’re coming out with your new product, and because you’ve been in business for awhile you have a long list of affiliates and JV partners who will be glad to promote your product. Had you not been in business, you wouldn’t have made these contacts.

Fourth example: You’ve been in business for awhile and like the smart entrepreneur you are, you’ve been saving money. An opportunity comes to buy out the competition – an opportunity you wouldn’t even know about, much less be able to afford, had you not already been in business.

If you haven’t started your business yet, start. Now. This month. If you have started, then here’s what you need to do – find out who your competition is and then watch what they do. You’ll get some of your very best ideas from watching others in your industry, as well as watching businesses totally removed from your own niche.

Don’t put your head in the sand. Always be looking, watching, monitoring, etc., what’s going on outside of your business. Because you’re in business already, you’ll be able to spot things you never would have seen standing on the sidelines.

And talk with your customers. A lot. Talk with them on Facebook, on your blog, on your forum and so forth. Find out what makes them tick, what they want, and what their biggest challenges are.

Just as you cannot learn to swim without getting wet, you cannot succeed in business without BEING IN BUSINESS.

You must educate yourself to earn all the time.

If you need something simple to get started, click on this link:

This program has worked for many members

You can’t go wrong checking this out today. Everyone is jumping on board. I use these principles, too. Even I learned them from my personal mentor.

 In 2019, James Fawcett wasn’t making a dime. In 2020 he literally went from zero to 352k.

You can see his case study and training on how he achieved it in The Breakout Code 2.0

 

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The Best of Zig Ziglar

We’ve lost the legendary sales trainer and motivational speaker Zig Ziglar to a bout with pneumonia. As you know he was an inspiration to sales people, businesses and marketers everywhere. He authored 29 sales and motivational books, including See You At The Top, and traveled extensively giving motivational and training presentations.

What better way to honor Zig than with a few of his own quotes?

Motivational Quotes:

“If you aim at nothing, you will hit it every time.”

“Every choice you make has an end result.

“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.”

“People often say motivation doesn’t last. Neither does bathing – that’s why we recommend it daily.”

“Your business is never really good or bad ‘out there.’ Your business is either good or bad right between your own two ears.”

“Remember that failure is an event, not a person. Yesterday ended last night.”

“If you don’t see yourself as a winner, then you cannot perform as a winner.”

“When obstacles arise, you change your direction to reach your goal; you do not change your decision to get there.”

Sales Quotes:

“You will get all you want in life if you help enough other people get what they want.”

“Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust.”

“Timid salesmen have skinny kids.”

“People don’t buy for logical reasons. They buy for emotional reasons.”

“Stop selling. Start helping.”

Personal Life Quotes:

“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.”

“If you go looking for a friend, you’re going to find they’re very scarce. If you go out to be a friend, you’ll find them everywhere.”

“Your attitude, not your aptitude, will determine your altitude.”

“If you dream it, you can achieve it.

 

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4 Things To Stop Doing In 2021

  1. Buying marketing products you don’t use. Do NOT buy another product on how to market or how to make money online if you’re not going to at least read it or watch it. True, not everything you purchase will turn out to be something you want to implement in your business, and you don’t know that until you read/watch it. But even the stuff you don’t directly use can be useful if you get at least one great idea from it. What’s not useful is buying stuff and not even consuming the content.

Seriously – how many ebooks and videos do you have sitting on your computer right now that you haven’t                    touched? How many softwares have you purchased that you haven’t used? Find them and at least glance                        through them or try them to see what you’re missing. You paid for it, you should get some benefit from it.

  1. Posting on social networks that are not providing a return on your time. Just because other marketers are on a particular social network does NOT mean you have to be, too. Take a good hard look at each social network you’re on, and decide if it’s paying off or if you’re wasting your time. Then act accordingly.
  2. Mistaking quantity of content for quality. Here’s what’s true – blogs that post several times a week tend to get more customers than those that post less frequently. However, here’s what else is true – crappy content does not get you customers, no matter how much of it you post.

If the choice is between quality of content and quantity, go for quality every time. It’s better to make two posts              a  week that totally knock it out of the park than it is to make 7 posts that are mediocre. People sign up for                      great content, they return for great content, and they trust the person who delivers great content. And when                  they   trust you, they buy from you, too.

  1. Going SEO crazy. If you can get enough inbound links, you’ll rank high in Google and you’ll get a flood of traffic, right? So you should focus all your time on link building, right? No. Building links to your website does not make a business. Selling stuff makes a business.

Further more, if you’re building micro sites just to link back to your main site, you’re filling your bucket with a              leaky spoon. For those links to be relevant, those sites have got to be good. How are you going to have time to              create good content for all those microsites? We just said quality is what counts.

So forget the microsites, and never spend more than 5% of your time in link building. Instead, spend your time           creating quality content, making quality contacts in your niche, and making your visitors and customers happy.           These 3 things will build your business – not a fistful of microsites or a link building obsession that robs you of             your time and enthusiasm.

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