Your Money Making System
Posted by Sant Qiu in : Speed Profit Secrets on January 2, 2008 , trackbackIt’s appropriate to start the New Year with this article. I’m assuming, and it’s pretty obvious that one of your new year evolution goals is to make money. This simple strategy will help you to increase your income and achieve your targeted goal in a more predictable manner.
What is the strategy?
It is the deceptively-simple-yet-extremely-effective conscious creation of a systemized sales process. It is amazing how most of the business owners and clients that I’ve spoken to neglect this very powerful strategy. They create their sales rather haphazardly, relying on short-term promotions most of the time. Are you making the same mistake?
Without a system in place you’re basically shooting blindly in the middle of nowhere. Without a system for selling, then you’re at the mercy of your prospect’s emotional wimps of buying or not buying.
Let me ask you a question. If you’re a pro golfer, would you go to a tournament without researching about the terrain, the competitors, etc? If you’re a pro footballer in NFL or a pro basketballer in NBA, would your team go against another team without researching and knowing their strengths and weaknesses?
Of course not! Being a professional means that you do all that as part of your job, on top of training your game skills. Interestingly, or rather disappointingly, most businesses don’t act professionally even though it affects the income that they are generating. They don’t spend the time to research their target market (the terrain) and their competitors. And they don’t come up with a system (game plan) to sell (to win).
When I talk about creating marketing or sales system, I invariably get the question: So what is a system and how can you create one?
Here’s my interpretations of a system: A system is an organized and coordinated methods/procedures that are designed to achieve a predictable and repeatable outcome. For example, a system can be a lead generation ad on a magazine that offers a free special report. To get the free report they have to provide their details for you to send it to them. The free report will educated and promote your products/services. It will be followed up with a sequence of 7 letters, 5 days apart.
This means that everyone who responds to the ad will experience the exact same thing. And if the system is bringing in the sales, then you should repeat the whole process again and again.
Until when? Until it’s no longer profitable.
The great thing about having a system is that sales become predictable. And this means that you can track and measure the kind of responses and conversions you’re getting from your marketing efforts. Which means that you can always tweak and fine tune to make the system better. Can you see how this one strategy will massively increase your income?
All pros use a system. Lead generation system, pitching system, closing system. Why do you think seminar speakers always give similar presentations? It’s because it’s a system that they have perfected and know will convert well for them.
So start creating a selling system ASAP. Your income depends on it.
Happy new year! Your blog today excited my marketing strategy for my retail store. I have learned so many things from your site that I could use for my business. Thanks so much!
Hi Evangeline,
Happy to know you find it useful. The most important thing is to implement them. Post your results here if you can. All the best.
Sant.
Hi Sant,
This is the good way to bring in sales and measure it. With so mych hype about web2.0 wiping out online businesses and having the old system, what is the new system that web 2.0 brings with it?
Thanks for the comment Raymond. Web 2.0 does have its advantages. In fact I’ll be posting an article about it next.
With more people being able to say publish their opinions, the power has somewhat shifted more to the people. Some people recognize this and go to the extreme claiming that web 2.0 will wipe out the rest. In my opinion it’ll not. But a combination is the best. As marketers we need to take what works and use it.