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Dear ,
Every single one of us is guilty of this:
We DON'T maximize our opportunities, our contacts, our capabilities, and our performance.
Instead, we keep doing the same old same old, opting for what's comfortable, easy, convenient and familiar.
You know what it's like?
It's like buying a brand new candy apple red Ferrari 488... taking it to a wide open race track... and hitting a whopping top speed of... 40 mph.
If I did that, you'd say...
Nader Has Lost His Mind!
Yet that's exactly what we do in business!
We slowly trek along without reaching our full capabilities or maximizing our opportunities. It's a shame -- almost criminal!
And don't think it's only small business owners who make this blunder. Big companies do it, too.
Like Enterprise Rent a Car.
Do You See the Photo Above?
It's a perfect example of the 40 mph Ferrari.
The photo is from am Enterprise in South Florida.
They have this incredible brand, name recognition and HUGE STOREFRONT. And what do they do with it? They have this tiny rinky-dink sign... and no other promotional materials anywhere on the windows.
(Before you tell me maybe the city's zoning laws don't allow for it, the store right next door to it -- Little Caesar's -- is packed with advertising signage).
So, it's obviously that they have the opportunity, but they're not capitalizing on it.
What about you? Here's how many other small businesses also fall short:
1. Not being proactive about referrals -- we are mostly passive about them, only waiting for referrals to happen instead of developing a system.
2. We don't do enough joint ventures -- there are tremendous opportunities in working with other businesses who reach your target market but are non-competing. For example, a real estate broker can set up a business referral arrangement that's mutually beneficial with the florist who is steps away from their office.
3. We don't capture testimonials from EVERY SINGLE satisfied customer/client/patient.
4. We don't upsell or cross-sell -- once a customer is yours, it's much easier to sell them additional products or services. Most businesses do nothing to sell their current customer base more stuff.
5.We don't do any shared marketing -- If I owned a pizzeria in a strip mall, I would offer every other (non-competing) store in the mall an opportunity to ride-along on my pizza boxes. I would tape their flyer to the top of the box in exchange for a fee or other arrangement.
And there are literally hundreds of other things ALL businesses can do to maximize their marketing, profitability and bottom line.
So many possibilities...
What will you start with?
Until next time...
If you have any comments, ideas or suggestions, please email me at: nader@copticchamber.com.
