Behind every business there is a family...

If you want to be successful in business there are a couple of golden rules. Im going to share them with you here and back it up with 5 Golden nuggets that will make you a lot of money. You can also watch the video series which will take these lessons off the page and bring it to life for you on you computer screen.

How To Be make a fortune In Business..Well these are the 5 nuggets..

Leads
Conversions
Average Value of the Sale
Repeat Business
Profit Margin

For a start any business needs customers. Well thats a no brainer really but you’d be surprised how many business owners dont seem to factor in the need to keep bringing new customers to your door. But what do you do.. go after new customers or look after the ones you have? Well, in my humble opinion I would probably put more effort into keeping the ones you already have simply because you have probably already spent money on getting them. In business terms it is a low aquisition cost…

Having said that, you obviously also need to be bringing fresh prospects through the door to replace the natural attrition from your database..
So whats your strategy for doing that…?? Advertise?,Market?,Referrals? Well, done properly all these methods will bring you in new business without a doubt. The question I always ask is whether the money being spent on bringing new prospects into your business is producing a profitable result for you. That is to say are you bringing in the right KIND of customer. Dont say “who are my customers”, say “who do I want as my customers”. Use that as your main lead creation strategy. Identify them and go after them.

Next, say you have the right kind of customers interested enough to take a look at you to do business with. Thats great right?? You have now moved to the Conversion stage. Now this stage is so important becuase its the stage where the money happens for the first time. Your prospects suddenly become your clients.
Or do they.?? If you get 100 people walking into your shop and you only sell something to 5 of them, thats very poor 5% conversion rate. If you have some testing in place you will know these numbers.
What could be going wrong? Your goal is 60-70% conversions right.. Either you are bringing in the wrong kind of customers or you are just a very poor salesman or your product simply sucks.. If your conversion rates are that low then you know where you need to focus. Better leads or better sales process.

If you are building an online business then your website needs to have a database capturing process. Everything you do online must be part of the lead generation strategy which then brings traffic to your nerve center

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