Be Revenue Driven

Be Revenue Driven

An organization must decide what business it’s in. For most its acquiring top-line revenue, not micromanaging expenses “administrivia” or day-to-day operations. Being revenue driven leads to bigger $$ figures, while being administrivia-driven leads to having more administrivia to handle. Stay revenue-focused by making sure each activity and each team member is tied to the financial success of the organization and success is measured. The key is consistent implementation.

I came across these ideas neatly summarized & thought I’d share… 5 crazy ideas that worked even though people questioned the credibility of their business idea at the time…

Today crazy idea number five.. Pet Rock

Based on the need for a maintenance-free pet, in 1975 advertising executive Gary Dahl came up with the wacky idea of selling pet rocks. Writing a manual on care and handling, Dahl packaged the rocks in cardboard kennels and sold them for US$3.95. In 12 months, around 1.5 million people had taken up the craze.

I Attended an interesting meeting on Wednesday about Dementia & how to be with people in a meaningful way, when they’re afflicted by this nasty disease.

As business owners we need to look after ourselves. Hope you enjoy these tips..

Ways to combat, develop SPIES:

Stress (Reduce this in your life!)

Physical exercise (Walking down hills is good)

Interaction (join social clubs, learn a musical instrument, learn another language or do Sudoku)

Eat well

Sleep well

Motivated staff need to buy into company’s vision

A quick excerpt from last night’s paper

I’m passionate about my business but find it hard to get my staff enthused to the same level. What can I do to make my staff engage more with their work?

If staff aren’t buying into the vision they may not understand it or how their input contributes. Communication is the start. Open up to the team, engage them in the journey and the end point you see for the business. Brainstorm the challenges facing the business.

A system that rewards staff and is clearly tied to the success of the business could be worthwhile. It doesn’t have to be expensive. You need these people on your side. To do that they need to feel valued, listened to, responsible and an integral part of the success of the company.

Go to YouTube and watch RSA Animate – Drive: The surprising truth about what motivates us. You can improve the motivation of staff, but they will never share your commitment; remember the roles in “bacon and eggs” – the pigs are committed, the chickens are involved.

A.I.D.A

Fascinating A.I.D.A…

Want to know a great tool for writing powerful sales letters and killer copy?

This formula is called A.I.D.A…

ATTENTION

Attract people’s attention with an exciting headline. Make them intrigued, just by reading it. Either reveal or conceal a common interest. For example:

HOW TO MAKE YOURSELF IRRESISTIBLE TO LADIES

WANT TO RETIRE AT 50?

DON’T MAKE THESE COMMON MOUSE-BUYING MISTAKES

INTEREST

Evoke interest from your potential customer by talking about benefits.

Steer away from just listing features – people buy benefits, not features.

Use simple, short sentences and talk to them as if they’re sitting next to you.

DESIRE

Make them want your product! Give them guarantees of their money back.

Or extra special bonuses or discounts.

Don’t forget to state the urgency – You could try “order within 7 days and get this free pen set. If you’re not satisfied, we’ll refund you in full”.

ACTION

Tell them what to do next! Don’t assume they’ll know what to do.

Get them to “Call now for a no-obligation quote” or “Call us to place your order”.

You don’t need to close the sale there and then, just lead them through your sales process.

Round up your fees to odd numbers

Often I advise clients: rather than charge a $1,000 fee, raise it to $1,250 because the customer has broken through the $1,000 barrier psychologically. The next fee increase could be $1,750, followed by $2,250, etc. Ideally we never set fees on even numbers. The extra rounding allows you to achieve greater profitability and revenue, which pays off over time and doesn’t appear to be a large increase to the client.