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Follow These 10 Money Making Rules to Prosperity in the New Economy
| Guest post by: Michael Farrell |
Article Overview: Most small business owners are clueless about profitable advertising and effective marketing, suggests Mike Farrell with aspenIbiz. Read this short post as it reveals the 10 Moneymaking Rules you must learn and follow to Prosperity in the New Economy.
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Follow These 10 Money Making Rules to Prosperity in the New Economy
Marketing is not something you learn, it is something you do.
Since the money comes from mastery of marketing, it is something the savvy business person dedicates his life to doing.
Most business people do not even understand what marketing is and how it impacts making money.
They think of advertising, then marketing, then sales, then fulfillment, and finally, customer service. They think of it as just a bunch of pieces and parts of a business.
These people pretty much stay broke their entire lives as the average small business owner barely breaks $35,000 a year net income and only 1% of small and mid-sized company owners ever get rich.
The reason is not lack of opportunity nor is it the degree of difficulty as we are awash in easy-button tools, including the Internet.
The reason is a lack of understanding of where money comes from, thus the actual business they are in.
If you want high income, then you can't stay in the dog grooming, carpet cleaning, restaurant, real estate, dental, financial services, or this or that business. You must be in the business of marketing your dog grooming or carpet cleaning product or service.
You must get up every morning and go to work as if there were worker-bee employees to do the work of your business and YOU must be doing the Marketing of your business. It is more than just having better advertising gimmicks. You must be different and act very, very differently to not just do ... but to MARKET Your Business.
So, here are the 10 Money Making rules you must learn and follow to Prosperity in the New Economy.
Rule 1 - There will be an Offer or Offers. Nothing will appear, be sent, or represent your business without presenting an Offer. You will be surpised how much money is spent on advertising and marketing, such as the Yellow Pages, that fails rule #1. The key with any promotion is to establish a relationship in advance of need, to lock in the business, so when the need occurs, you have the business.
Rule 2 - There will always be a Reason to Respond Now. Learn to use Multiple-Response-Reasons and strategies for creating a sense-of-urgency, so people respond rather than set aside, delay, procrastinate, or forget.
Rule 3 - There will be Clear Instructions on How to Respond. Be sure to provide clear, direct, and emphatic steps that you want the prospect or customer to take next. This is one of the key differentiations between ordinary advertising and Direct Response Advertising.
Rule 4 - There will be Tracking and Measurement. P.T. Barnum is often quoted as saying that half of the advertising for his circus is wasted and he wished he only knew which half. You need to know what is working and eliminate all that is not as it is fat and it is waste. Be sure to calculate a Return-On-Investment of your promotion, advertising, and marketing efforts.
Rule 5 - Whatever Brand-Building occurs, will be a happy by-product and not be purchased. If big and dumb companies with too much money to throw around want to pour millions into brand identity and unaccountable image advertising, let them, but do not follow them as you are in the money making business. Brand building is a side effect of Direct Response Advertising.
Rule 6 - There will be Follow-Up. Being blunt, most businesses are sloppy about capturing leads and follow-up. As a result, there are leaving behind a treasure trove of untapped sales and profit opportunity. The key is to plug the holes in your prospecting funnel by putting a cage around your leads and customers so that you get more revenue from every lead and customer.
Rule 7 - There will be Strong Sales Copy. Learn how to "Beef Up" the selling power of the words in every ad, website, email, letter, flyer, or postcard as you will have a lot more visitors to your business than there are salespeople and the sales copy will need to convert browsers to buyers.
Rule 8 - In general, your marketing will look like Mail-Order Advertising. Legendary ad man, David Ogilvy told the people in his own ad agency that only the mail-order people really know what they are doing. This style of promotion has worked since 1900 and still works today in Direct Marketing. It can be applied to every kind of business, profession, or sales career.
Rule 9 - Results Rule. Period. No one's opinions matter to you anymore; opinions and guesswork are gone. Scientific advertising is "in" using accurately measured results.
Rule 10 - You will be a Tough-Minded Disciplinarian. You must have a strategic plan, with clear instructions, winning models, and proven examples that are fed to you every month so you can swipe and deploy them.
Most ordinary businesses promote, advertise, and market like bigger brand-name companies, so they spend and as a result, waste, a lot of money on image, brand, and presence. The big companies have all sorts of reasons for the way they advertise and market that have nothing to do with getting a customer or making sales.
However, small businesses on Main Street such as a brick and mortar business, a business with a store-front, any business with a showroom, an office, a restaurant, or a dental practice, need to sell something now!
So ... use the above 10 Moneymaking Rules to transform what appear to be ordinary businesses on Main Street into extraordinary money machines that far, far out-perform industry norms, peers, competitors, and your own wildest imaginations.
I Hope You Enjoy the Article and I Trust You Found It Insightful! Let me Know What You Think.
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About the Author: Michael Farrell RSS for Michael's articles - Visit Michael's website Click here to visit Michael's website   Learn How to Use the Place Strategy that Supports Premium Prices How to Profit as Your Mobile Phone Becomes Your Digital Wallet How to Feed Hungry Eyes to Be No 1 on Google What You Must Do In a Shrinking Job Market How to Operate the Back Office of Your Main Street Business on a Budget |
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Re: Newbi here
- thanks for your responses guys.. I really appreciate it.
Well, I have learned from realhomebasedsuccess dot com that there are home based business opportunities and ideas that could be our option such as:
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but I was thinking which is the best one and most effective in terms of generating consistent Ongoing Profits. What do you think? do you have any insights?
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- [quote="Ringo So":2696kbgu]Trent - It's actually a sub-forum within the "Making Money in 2010" category. Please let me know if there are any troubles finding it.[/quote:2696kbgu]
Nope, still don't see it. I see the Online Businesses forum but that has been there for a long time. Is that what you mean? I don't see any Internet Marketing section.
Re: What are your January Goals?
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Lets start it this way - What are you more interested in? Money? or Friends? or Both?
If its purely Money, then Blog might be an appropriate answer. But consider this - It will be people (visitors) that will bring traffic to your blog and then Money will follow. This will be possible after a time and during this time it will be your friends who will be the starters.
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