Your Positioning, Your Market and The Fastest, Easiest Way To Double Your Business Income - An Optimising Business Report

From Overwhelm To On-The-Money Special Report
By Angela Wright MBE

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A Quick And Easy Plan To Help

You Maximize The Profits Your
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YOUR POSITIONING, YOUR MARKET AND THE FASTEST, EASIEST WAY TO DOUBLE YOUR
BUSINESS INCOME - AN OPTIMISING BUSINESS REPORT.doc
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Your Positioning, Your Market

And The Fastest, Easiest, Most
Profitable Way To Double Your
Business Income
The purpose of a business... any business... in fact, your business...
is to profitably satisfy the wants and needs of its customers. And the
more profitably you can serve your customers and solve their
problems, the more successful your business will be.
One of the biggest problems business owners have, is to have no
plan for growing their businesses. They jump from idea to idea, hoping
that sooner or later, something will work for them, and somehow,
magically, their business will take off or will suddenly become more
profitable.
Well, it just doesnt work that way. Sure, there are some businesses
that just happen to be in the right place at the right time, and when
market conditions are just right, get swept along in the wake. But
those stories are the exception and not the rule.
For the majority of businesses, there needs to be a little thought, a
little planning, to make a significant difference in the growth and
success of the operation.
Before we look at growing your business, lets take a step back and
check where we are with identifying who you are and who is your
target market.
Think back to when someone last asked you about your business. Did
you have an easy answer, something to prompt more questions and maybe
a sale there and then? No? Well, when did you last consider your business
positioning statement?
After all, if you cant figure out what you do in just a few words, how
can you expect your potential customers to understand, and choose you to
fulfill their needs?
Im always amazed when a business or organization doesnt have a
positioning statement. After all, how do you expect anyone to understand
what you do if you dont clearly know this yourself?
What is a positioning statement?

Its the secret ingredient for any integrated marketing programme
and the easiest way to communicate what your business does.
Why you want a positioning statement:

Adds clarity and focus to the value you provide customers
Acts as a rudder to keep your messaging consistent, reducing the
chances of confusing customers
Provides direction to how you communicate
Think of the positioning statement as what prospects say about you after
you leave the room. Whats the one thing you want them to remember? If
you cant craft a focused positioning statement, your prospects and
customers will infer one for you and you may not like what they come up
with. Be proactive take the time to create one and use it to guide your
business growth.
This is where many people come unstuck so heres a foolproof fill in the
blanks way for you to wite your essential positioning statement right now:
To _________________________ (one target/person)
(product/company name)_______________ is the one
(category) ________________________________ that
(key customer benefit) ____________________ unlike
(differentiator) ________________________________
eg
To a Frequent Flyer Business Executive
FlyRight is the one
jet lag remedy that
allows you to stay healthy through the flights and arrive at your destination
feeling as invigorated as when you left so you can get right to work
unlike sleeping pills and caffeinated drinks that provide temporary relief but take a huge toll on
productivity later on
If you get stuck, here are some questions to ask:

Why did we build/create this business/product/service
Whats the personas (ie your perfect customers) perception of
us
How did he/she/they cope without our product/service?
What does the competition offer? How are they perceived?
What are their weaknesses? What are their strengths?
What value do we really bring to the table?
What are our first, bests and onlys?
This same format and process can be used with any type of
business. And it can be used effectively in group situations or
in one-on-one situations. You may want to tighten it up, make
it shorter, eliminate a sentence or paragraph, or add another
benefit or two.
Whatever you do, take the time to formulate your own personalised
15-second introduction. It will be well worth the time you spend and will
reward you with a steady stream of new prospects just begging to do
business with you.
In reality, there are several things you can do to grow your

business.
But there are four main things... or key categories that nearly
every method of growing your business falls under.
You can:
1. Get more new customers. That is, increase the number of
customers you now have.
2. Increase the average transactional value of each sale. That is,
get more money every time a sale is made.
3. Get your customers to buy from you more often. That is,
increase the frequency of purchases by your average customer.
4. Increase your customers average buying lifetime. Get them to
continue doing business with you for a longer period of time.
Most business owners spend most of their time, effort and money on
the first method...
Getting More New Customers.
While this step is necessary in order to replace those customers

who have stopped doing business with you for one reason or another,
it is also the most costly and least profitable methods of growing your
business.
Increasing the average transactional value of each sale... that is,
getting more money from every sale, on the other hand, has the
potential to add an immediate 30- 40% in pure profits to
your bottom line.
Using this technique, and making a simple suggestion, fast food
restaurants add millions of dollars in profits to their coffers every day.
They use the strategies of bundling, cross-selling and packaging,
to get their customers to spend just a little more and get a better
value.
But aside from the actual cost of the additional product, that little
more is pure profits, since there are no marketing costs involved.
Method number three... getting your customers to buy from you more
often is another effective way to build profits.
It starts by getting to know your customers and determining what
their needs are. Then communicating with them often, regarding
special offers, additional products or services that might benefit them,
or other products or services offered by another vendor or supplier
with whom you have a joint venture arrangement.
Now, item four... Increasing your customers buying lifetime. It just
makes sense, that the longer a customer continues to do business with
you, the more products and services youll have the opportunity to sell
that customer. Which, of course, translates into more profits.
But also, the longer they keep coming back and buying from you,
the more benefits theyll receive from the products and services that
theyve purchased from you, which leads to a more satisfied customer,
and again, means more profits.
And naturally, the longer the customers buying lifetime with you,
the more chances you have of getting referrals from them of others
who can use and benefit from your products and services.
Now, increasing any one of these four methods of growing your
business can certainly make a positive impact on your bottom line.
For an example, lets assume a base of 1,000 customers who spend

an average of $100 twice a year, and do business with you for
5 years.
Over that 5-year period, they would spend $1,000,000 with you.
Current
Number of customers
1,000
Dollar value of average transaction
$100
Average number of transactions per year
Buying lifetime of average customer (years)
Total income
$1,000,000
But consider what the significance would be if you were to increase

each category by only 10 percent.
Current
+10%
Number of customers
1,000
1,100
$100
$110
2.2
5.5
Total income
$1,000,000
$1,464,100
The cumulative increase would be 46.4 percent! Not a bad increase in

anyones book!
Think about your own business. How difficult would it be for you to
increase the number of customers you have by 10 percent? How about
getting just 10 percent more from each purchase?
And, with a little extra effort, do you think it would be difficult to
get your customers people who are already doing business with you,
who know you, like you and trust you to buy more often or stay with
you just 10 percent longer?
If you think about it, it probably wouldnt take much to accomplish
any of those goals. But the resultant increase in income would be
incredible.
Now, look what happens if you attained a 33 percent increase in

each of the four categories...
Current
+33%
Number of customers
1,000
1,300
$100
$133
2.66
6.65
Total income
$1,000,000
$3,058,428
Why, the increase jumps all the way to 205.8 percent!

And only by increasing each of the four categories by a third!
Now, you may find it difficult to increase each of the categories by
33 percent... or even by the same percentage, for that matter. The
exact amount of your increase isnt important.
Whats important is that if you make chances even small changes
in each of the four areas, it will have a dramatic and positive effect on
your bottom line.
For instance, if (in the example above), you were able to add just
10 percent more new customers to your business, increase the
average size of each sale by 30 percent, get your customers to buy
from you 10 percent more often and increase their average buying
lifetime by 30 percent, your totals would be $2,044,900... an increase
of $1,044,900!
Current
Percent
Increase
Category
Increase
Number of customers
1,000
10
1,100
Dollar value of average

transaction
$100
30
Average number of transactions

per year
10
Buying lifetime of average

customer (years)
30
Total income
$1,000,000
$130
2.2
6.5
$2,044,900
Now take a look at your own business. In the table below, write in
the number of current customers you have, how much they spend with
you on average, how many times they buy from you in a years time,
and how long they do business with you before no longer needing the
products or services you sell, or they move to another supplier or
vendor.
Then, run some quick calculations on what would happen if you
were to increase each of the categories by whatever percentages you
think would be realistic and doable for your particular business in the
current economy.
Current
Percent
Increase
Category
Increase
Number of customers
Dollar value of average
transaction
Average number of
transactions per year
Buying lifetime of average
customer (years)
Total income
As I mentioned at the beginning, there are several... in fact,

many ways to grow your business and add profits to your bottom
line.
Here are a few easy-to-implement and cost-effective things you
can do...
To get more customers...
Select a target that you can serve effectively.
Create an identity in that market, and become widely known as the

recognized expert.
Develop a marketing message that compels your prospects to contact you to

learn more about how you can help them.
Establish a proactive referral program that converts your existing customers

into deliberate centers of influence.
To get more dollars from each sale...
At the time of purchase, suggest a money-saving larger size.
Suggest add-on items, or other items or services that will compliment the
original purchase.
Combine several related items into a package that would cost less than if
purchased separately, but will sell for a higher total price.
To get customers to buy from you more often...
Learn your customers needs, wants and desires, and create special offers or
incentives for them to return to buy again.
Develop a program of regular communication with your customers, such as

email, SMS, phone call, newsletter, e-newsletter, postcard. Keep them
informed on whats new.
Contact them before they need to renew or purchase another product. This
helps keep them away from the competition.
To increase your customers average buying lifetime...
Call on your customers from time to time and let them know youre thinking
about them.
Follow up with your customers to see how theyre enjoying or benefiting from
using your products or services.
Treat your customers with respect and appreciation. Show them you care
about them.
Remember, your customers are the lifeblood of your business.

Without them, you have no business. Take care of them, and theyll
make you a fortune.
Go back and study the above examples. Design programs and
systems that will help you maximize each of your efforts in the four
areas.
Finally, put these plans into action without delay. All the best-laid
plans and the most creative ideas in the world wont do you any
good unless you act on them.
10
Would you like help with this?
Still Overwhelmed: get in touch with us at

http://optimisingbusiness.com/contact
Angela Wright MBE

Have a lovely day!
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From Overwhelm To On-The-Money Special Report

By Angela Wright MBE

put this logo at the foot of the page

A Quick And Easy Plan To Help

2015 All rights reserved