Category: Small Business

The Profit Minds Podcast with Dr. Steven Kirch and Elizabeth Bachman (Video Podcast)

Welcome to The Profit Minds Podcast with Dr. Steven Kirch. Dr. Kirch is the professor of PROtivity(SM) and creator of the PROtivity(SM) Growth System, a unique blend of profit growth, productivity acceleration, and business process for scale. In each episode of The Profit Minds Podcast, Dr. Kirch interviews entrepreneurs and small business owners from around the world with a unique story to tell.

In this episode of The Profit Minds Podcast, Dr. Kirch speaks with Elizabeth Bachman, Professional Speaker, Executive Career Coach, and Presentation Skills Trainer at Strategic Speaking for Results.

 

Connect with and learn more about Elizabeth Bachman:

LinkedIn

Website

 

Connect and learn more about Dr. Steven Kirch:
LinkedIn
Profit Minds Website
Download (for FREE) Dr. Kirch’s E-book, which Reveals… 🙌🏼 How any Entrepreneur can Find 30K in their business guaranteed (Closing More Sales and Generate More Leads!)
Take the Profit Acceleration Quiz
Twitter

Subscribe to The Profit Minds YouTube Channel and Podcast Playlist

The Profit Minds Podcast with Dr. Steven Kirch and Sajad Husain (Video Podcast)

Welcome to The Profit Minds Podcast with Dr. Steven Kirch. Dr. Kirch is the professor of PROtivity(SM) and creator of the PROtivity(SM) Growth System, a unique blend of profit growth, productivity acceleration, and business process for scale. In each episode of The Profit Minds Podcast, Dr. Kirch interviews entrepreneurs and small business owners from around the world with a unique story to tell.

In this episode of The Profit Minds Podcast, Dr. Kirch speaks with Sajad Husain Esq, owner of Cause and Effect Consulting.

 

Connect with and learn more about Sajad Husain:

LinkedIn

Website

 

Connect and learn more about Dr. Steven Kirch:
LinkedIn
Profit Minds Website
Download (for FREE) Dr. Kirch’s E-book, which Reveals… 🙌🏼 How any Entrepreneur can Find 30K in their business guaranteed (Closing More Sales and Generate More Leads!)
Take the Profit Acceleration Quiz
Twitter

Subscribe to The Profit Minds YouTube Channel and Podcast Playlist

The Profit Minds Podcast with Dr. Stephen Kirch and Bryan Daly (Video Podcast)

Welcome to The Profit Minds Podcast with Dr. Steven Kirch, Dr. Kirch is the professor of protivity and creator of the Protivity Growth System, a unique blend of profit growth, productivity acceleration, and business process for scale. In each episode of The Profit Minds, Dr. Kirch interviews entrepreneurs and small business owners from around the world with a unique story to tell.

In this episode of The Profit Minds, Dr. Kirch speaks with Bryan Daly, Founder NLFA IAR, Royal Fund Management-Registered Investment Advisor. Teaching, innovative ways to make, manage and save money.

Connect with and learn more about Bryan Daly:

LinkedIn

Website

 

Connect and learn more about Dr. Steven Kirch:
LinkedIn
Profit Minds Website
Download (for FREE) Dr. Kirch’s E-book, which Reveals… 🙌🏼 How any Entrepreneur can Find 30K in their business guaranteed (Closing More Sales and Generate More Leads!)
Take the Profit Acceleration Quiz
Twitter

Subscribe to The Profit Minds YouTube Channel and Podcast Playlist

The Profit Minds Podcast with Dr. Steven Kirch and Angela Dunz (Video Podcast)

What Makes YOUnique?

Welcome to The Profit Minds Podcast with Dr. Steven Kirch, Dr. Kirch is the professor of protivity and creator of the Protivity Growth System, a unique blend of profit growth, productivity acceleration, and business process for scale. In each episode of The Profit Minds, Dr. Kirch interviews entrepreneurs and small business owners from around the world with a unique story to tell.

In this episode of The Profit Minds, Dr. Kirch speaks with Angela Dunz about the amazing work she does with her clients on LinkedIn. Angela Dunz is an expert in Business development, professional branding, visibility & optimization on LinkedIn and Founder/Owner of Cowgirl Creative Coaching.

Connect with and learn more about Angela Dunz:
LinkedIn
YouTube

Connect and learn more about Dr. Steven Kirch:
LinkedIn
Profit Minds Website
Download (for FREE) Dr. Kirch’s E-book, which Reveals… 🙌🏼 How any Entrepreneur can Find 30K in their business guaranteed (Closing More Sales and Generate More Leads!)
Take the Profit Acceleration Quiz
Twitter

Subscribe to The Profit Minds YouTube Channel and Podcast Playlist

The Profit Minds Podcast with Dr. Steven Kirch and Tess Owen (Video Podcast)

What Makes YOUnique?

Welcome to The Profit Minds Podcast with Dr. Steven Kirch, Dr. Kirch is the professor of protivity and creator of the Protivity Growth System, a unique blend of profit growth, productivity acceleration, and business process for scale. In each episode of The Profit Minds, Dr. Kirch interviews entrepreneurs and small business owners from around the world with a unique story to tell.

In this episode of The Profit Minds, Dr. Kirch speaks with Tess Owen, Founder of Omni Social Media. Omni Social Media serves small to medium sized business owners and community managers in the San Francisco Bay Area with the knowledge needed to approach the online community and best display their products and services.

Connect with and learn more about Tess Owen:
LinkedIn
Omni Social Media Website

Connect and learn more about Dr. Steven Kirch:
LinkedIn
Profit Minds Website
Download (for FREE) Dr. Kirch’s E-book, which Reveals… 🙌🏼 How any Entrepreneur can Find 30K in their business guaranteed (Closing More Sales and Generate More Leads!)
Take the Profit Acceleration Quiz
Twitter

Subscribe to The Profit Minds YouTube Channel and Podcast Playlist

Three Effective Strategies for Boosting Your Voice

Use any available means to get your word out there
Woman trying to be heard

In order to find new clients, you need to boost your voice. In other words, you have to locate opportunities to amplify your message and reach prospective leads. These opportunities won’t come to you! In order to grow your business, you will need to be proactive in tracking them down.

Here are three strategies for boosting your voice:

1) Networking events

Whether you’re new to networking or a seasoned professional, these events are a great way to connect with potential clients. One way to gain access is to join a networking group. Another is to join your local chamber of commerce.

One of the benefits of networking events is that they can be less intimidating than other venues. If you took a sneak peek at other items on this list and felt a shiver of fear run down your spine, then networking events could be the perfect place for you to get started and practice your skills!

Most of us find one-on-one conversations a lot less stressful than speaking to large groups. You have the opportunity to establish a personal connection with the person you are talking with. Plus, since everyone is there for the same reason, you already have something important in common! You can use that shared goal to your advantage when telling people about your business.

As a result, the interactions at a networking event can feel lower-stakes, which reduces the pressure and allows you to focus on delivering your pitch.

Speaking of which, the key to successful networking is having an effective 30-second elevator pitch. I cover that topic here.

Of course, the goal here is to develop a relationship. Do not focus on selling to the people who are there. If leveraged successfully, the members of these networking groups will become your salesforce. Once they get to know, like, and trust you, they will send you prospects who you can convert into clients.

2) Social media

These days, social media connects us all. Using online communities can grow your business exponentially.

Creating a community on Facebook or LinkedIn will take your networking to the next level. Every user on these sites is a potential referral partner or client. Starting a Twitter or Instagram account will give a huge boost to your marketing message. Maintaining an active presence on these sites will allow you to develop a personality around your brand which will attract new clients.

I also suggest looking into a new app called Clubhouse. This audio-sharing community has been used by Elon Musk and Bill Gates—why not you?

Using social media effectively will establish your business as modern, relevant, and accessible. Every social media account you set up is a fresh opportunity to locate leads and convert them into profit.

3) Public speaking

Many people are terrified of public speaking, but it is one of the most effective strategies for reaching potential clients. You can reach dozens or even hundreds of people simultaneously, amplifying your message far beyond what is possible in a one-on-one conversation.

In order to be an effective public speaker, you will first need to develop a compelling message. This is one of the topics I address in my e-book, Mind Your Profits.

Once you’ve developed your message, your next step will be to locate speaking opportunities.

One easy way to boost your voice through public speaking is to appear on podcasts, either as a guest or by starting your own. This is the perfect option if the idea of getting up on stage and talking to a bunch of strangers makes you feel faint! Since podcasts are just like having a one-on-one conversation, they are a lot less scary—but can be just as effective if you are able to reach the right audience.

If you aren’t intimidated by getting in front of a group of people, speaking from a stage can be a great way to get your message out. One way to find such opportunities is to reach out to professional groups in your area. You should also stay abreast of any upcoming conferences and workshops that potential clients might attend. And don’t forget to work those strategic partnerships!

If you want to integrate public speaking into your business practice but struggle with stage fright, contact me to set up a coaching session.

Finally, don’t be afraid to think outside the box! A speaker at a conference I attended told us about a strategy he’d developed that proved as effective as it is unusual. While driving down the freeway, he would jot down the phone numbers on billboards. Then he’d leave a message introducing himself and saying that he couldn’t help but notice an “error” on their billboard.

When he got a call back—and he always got a call back!—he would explain how the billboard’s messaging could be more effective in landing new clients. This would lead to a conversation about how to craft an effective marketing message, which would then lead to a meeting to discuss how he could help this business.

These are just a few strategies for boosting your voice and growing your business. As you become a more confident and effective networker, the number of potential networks you can tap into will grow as well.

Which strategy do you like? Feel free to comment below.

If you’d like help in implementing any or all of these, please reach out.

How to Create an Irresistible Elevator Pitch to Land More Clients

How to Create an Irresistible Elevator Pitch to Land More Clients

Two people in an elevator
Elevator pitch

Networking can be a nerve-wracking experience. It’s easy to put pressure on ourselves to say exactly the right thing at exactly the right time to exactly the right people.

Should I be funny? Should I try to talk to everyone? Should I be serious? Should I talk longer with fewer people? Should I join that conversation? Should I wait for people to approach me?

Networking events can feel like our eighth-grade dance all over again.

But knowing some of what you’re going to say ahead of time can take a lot of that in-the-moment pressure off, making it easier to mingle and be yourself.

This is just part of why many networkers recommend crafting a 30-second “elevator pitch.”

Not only can you enter a conversation confident in how you’ll introduce yourself, but you also know you’ll be consistent throughout the networking event. When you don’t have to divide your attention between listening to the conversation and deciding what you want to say, you can focus more authentically on building connections—which is what networking is all about.

But making things less intimidating is just one of the reasons your elevator pitch is your most important networking asset:

When you clearly explain who you are, what you do, and who you help, a successful elevator pitch doesn’t just attract the people who hear it directly—it also empowers anyone you’re networking with to reach into their network and send you prospects.

This makes every networking event more effective. Every contact you make has the potential to foster even more connections, allowing your pitch to reach a larger network of potential clients and customers.

Here are the three essential components of every effective elevator pitch:

1. Who You Are

The first step is to introduce yourself, including both your name and your job title. If you’re speaking on behalf of your company, you’ll also want to include your company name.

For me, this is as simple as, “Hi, I’m Dr. Steven Kirch, coach and trainer of business coaches with Profit Minds, LLC.”

2. What Problem You Solve

Next, briefly explain what you do in a way that is easy for people to understand, even if they’re not in your niche. Most importantly, make sure that it’s crystal clear what problem you solve for your clients or customers.

There are two important components to this: the people you serve and the problem they face.

When you describe who you serve, you might use a basic descriptor, like “corporate executives” or “small business owners,” or you can be even more specific, like “small medical practices” or “business owners in the trades.”

When you describe the problem your potential clients or customers face – and this is perhaps more important – you should include something that reveals the emotional state of your ideal client. For example, in my case, I indicate that my ideal prospect is somehow dissatisfied with their current life situation and looking for a change.

In my elevator pitch, I say, “I work with corporate executives or small business owners who are tired of their hamster wheel and are looking for a new opportunity where they can truly help others – and at the same time build income for themselves to support the freedom they have always dreamed of.”

3. How do you do that?

In a networking mixer, I stop right there. You want to entice the listener into a conversation, so don’t give them too much information, but enough to beg the question: “How do you do that?”

Once you’ve made it clear what problem you solve, this next step is to get more specific about your strategies and what makes you unique.

When people ask me the “how” question, for example, I respond by sharing, “I teach coaches our system to attract and retain high-paying clients. I set them up in their own business and teach them techniques that enable them to say ‘I can find 30-$50,000 in untapped revenue for ANY small business in under 45 mins.’

All I require is empathy, an entrepreneurial spirit, and the ability to learn and follow our system.
Within 6-8 weeks, they will be on their way to earning six figures in their own coaching business.”

BONUS: What to Listen For

Not everyone who hears your elevator pitch will be the right fit to work with you. In fact, you never want to try and sell directly to the person you are speaking with – even if they are actually a perfect prospect. But when implemented correctly, an effective elevator pitch can invite the listener to send you prospects and share what you do more broadly, even if it’s not applicable to themselves.

This is why it’s especially important to make sure the people on the receiving end of your elevator pitch know how they can recognize others who might benefit from working with you. If they are a prospect, they will recognize themselves in your description.

In your pitch, particularly at a regular networking meeting where you are a member, be sure to include what to listen for, with phrases stated in the first person.

For example, I might say, “If you hear a client or friend or family member say something like, ‘I’d love to retire, but I’m not sure I’m ready (or can afford it) (or what I’d do to fill my days)…’ or ‘I’m really tired of doing the same thing day after day and am looking for a new opportunity…’ or ‘I would love to find something to do where I can really help others…’ those would be great introductions for me.”

Nailing Your Pitch

Developing an effective elevator pitch can take time. There will likely be a period of trial and error as you figure out the best ways to describe what you do and who you serve. And the more you practice sharing your pitch, the more comfortable you’ll get and the more effective your delivery will become.

But the time and effort are absolutely worth it.

Once you have an effective elevator pitch, you can use it not only in your networking interactions, but also in your social media, on your sales pages, in your email communications, and on your website.

If you’d like help crafting your elevator pitch, set up a call with us here.

5 Effective Strategies for Generating Leads Who Want to Work with You

5 Effective Strategies for Generating Leads Who Want to Work with You

Lead Generation button
Lead Generation button on a keyboard

As a business owner, generating leads is one of the most important tasks for growing your business, but it can also be the most daunting.

How do you generate leads? And how do you do it in a way that doesn’t feel slimy, shady, or overly “sales-y”?

Here are five effective strategies for generating strong leads for your business—that won’t make you feel like a used-car salesman.

 

1. Join a networking group

Joining a networking group is a great way to attract more leads in a personal, genuine way. Some of these groups meet monthly, some meet weekly, and others meet every other week or every other month. If you’re not sure where to begin, consider joining your local chamber of commerce. They will certainly have networking events that you can attend.

I’m a member of several different networking groups, and I find them an incredibly valuable resource for generating leads—not just in terms of networking with potential clients directly, but in terms of meeting other business owners who can refer people to me from their own network.

When you clearly explain what you do, who you help, and what problem you solve for your clients, the people you meet while networking can send you prospects. Once they get to know, like, and trust you, they essentially turn into your salesforce.

2. Develop your “elevator pitch”

The most important thing about networking is having an effective 30-second elevator pitch. This must include not only who you are and what you do, but most importantly, it should also include what problem you solve for your customers.

In my elevator pitch, I explain that Profit Minds helps our clients create unique strategies to grow their business and create the life of their dreams, and that we can find 30 to $50,000 or more in untapped revenue for any small business in under 45 minutes. This often sparks a conversation about how we do this, which allows me to get more specific about the strategies that I use.

At a regular networking meeting, your elevator pitch should also include what to listen for, with phrases stated in the first person. For example, I might say, “If you hear a client or friend or family member say something like, ‘I need new sources of revenue for my company,’ or ‘I can’t afford this year to be just like the last,’ those would be great referrals for me.” This way, the people I meet know exactly who they can send in my direction.

3. Cultivate relationships with “power partners”

While offering potential partners a referral fee is straightforward and can work, I’ve found there’s a better way to incentivize referrals. To do this, seek out partnerships with businesses that serve the same type of client that you do but offer a complimentary product or service. I call these “power partners.” Then, when you present the referral opportunity, seek to solve a problem your referral source has with your mutual client.

At Profit Minds, we use this strategy to partner with—and solve problems for—CPAs, business brokers, and digital marketing agents, among others.

When I look to partner with a CPA, for example, I explain that if they send me one of their small-business owner clients, I will make sure the client sees them at least four times a year. I do this because the information I get from a CPA is a measurable and reliable way to make sure my methods are working.

This solves the CPA’s problem of only seeing their clients once a year around tax time. When they refer clients to me, they not only get more income from our mutual clients, but they also get to provide financial guidance throughout the year. This is a win all around: the CPA wins, Profit Minds wins, and most importantly, the (mutual) client wins.

4. Take advantage of speaking opportunities

Becoming a public speaker is a great way to build your reputation, establish your authority as an expert, and reach a broad, interested audience. This also helps build your relationship with your prospects as they get to know you and your story in an authentic way.

You can find speaking opportunities through local professional groups, as well as through strategic partnerships. Look for events and conferences in your area, and reach out to your network to learn of other speaking opportunities. If you joined a networking group, you might even find opportunities to speak at their networking meetings. Or check with your local chamber of commerce about setting up your own event where you can be featured.

Keep in mind that speaking opportunities don’t just happen in person. In the wake of COVID, many events are happening online or in other virtual spaces. Clubhouse is one such app, which features an audio-only sharing community.

5. Be a guest on podcasts

If you find the prospect of speaking to a large audience intimidating, appearing on podcasts is a great alternative.

You could of course start your own podcast, but you can also join in as a guest speaker on someone else’s podcast. Since appearing on a podcast is just like having a one-on-one conversation, it’s not nearly as scary as other public speaking opportunities—but if you’re a guest on the right podcasts, it can be just as effective.

With that in mind, don’t restrict your search to only podcasts about your exact same topic, but try to seek out podcasts that might share your audience. What podcasts might your ideal client be listening to? You can even start by asking this question of your current clients!

Strategies for everyone

There are strategies for every taste and ability, whether you enjoy addressing a large audience, prefer focusing on personal relationships, or anything in between.

If you find a strategy that appeals to you, don’t hesitate to reach out—I’d be happy to talk about how you can develop that strategy as you grow your business.

Top 5 Reasons to Hire an Intern

As your business grows, eventually you’ll want to start building a team. Having people in your corner means you don’t have to be the expert at everything, and you can spend more energy on the tasks and projects that truly require you to do them.

But there’s often a fuzzy gray area between recognizing that you could use extra help and actually having the resources to hire that help. Additionally, even established businesses can benefit from reducing their costs—and hiring a team can quickly become a major expense.

This is where I like to consider using an “internship” strategy.

Instead of hiring new personnel as you grow, consider offering an internship. Go to your local junior college, college, or university and offer an internship for the semester—or the year—to those seeking degrees or experience in a similar field or area of expertise as needed for your business.

But how do you know if offering an internship is the right approach?

Here are my top five reasons hiring an intern is a great move for the growing small business.

1. Internships can help cut down on labor costs

Labor costs make up a huge expense for any small business. Salary, benefits, social security taxes, unemployment insurance, worker’s compensation, and other costs really add up.

And yet, what can you do? You must​​ have the labor you need to operate your business, especially as your business grows.

Hiring an intern can help cut down on labor costs in a couple of ways. First, student interns are more likely to work part-time, since they usually have classes to attend in addition to the internship.

Second, their lack of experience means they can start at a lower salary than other prospective employees, and they don’t need a huge benefits package to make the job appealing. This is in part because most of the benefit for interns comes from the experience, which brings us to reason number two:

2. You are helping students gain real-world experience which makes them more competitive in the job market

Schools love​ it when a business offers internships because internships act as a value-add to their educational offerings by providing their students with real-world experience. Some schools even offer course credit for internships as an extra incentive. Many schools have a job placement office that will be happy to help you find the right candidate.

And the students love them, too!

Not only does an internship put some money in their pocket, but it also gives them practical, hands-on experience in their field.

This experience looks great on their resume. It gives them a jumpstart on their peers when they graduate, especially if the company providing the internship hires them upon graduation.

And given the state of the economy and the sparseness of the current job market, any competitive edge is a big deal.

3. Administrative help allows you to focus on the important things

Every business could use additional administrative help.

Offering an internship to a student majoring in business administration not only helps the student gain hands-on work experience, but this can also be a low-cost way to take some of the administrative tasks off your plate.

What could you get done in your business if you could pass off your admin tasks to someone who is actually interested in business administration?

Spending less time fretting over administrative details and more time working in your zone of genius can have major ripple effects that spread through your entire business.

4. Student interns are dedicated and enthusiastic

Just because interns work part-time, have less experience, or accept a lower starting pay doesn’t mean their work will be subpar.

Far from it: Interns are enthusiastic and eager to learn, and they’re highly motivated to produce quality work.

This is especially true if there is a possibility of being hired full-time after graduation, but even the promise of adding your glowing recommendation to their job materials can be an excellent motivator.

And since interns’ goals are often centered on learning how to work in a particular field, they tend to be especially open to critique and have a genuine desire to improve. Sometimes they even possess skills or a perspective that older, more experienced workers may not—consider their skill with social media or reaching that younger demographic.

5. Interns can fill the gaps as you grow

If you’re a micro-business or solopreneur, you probably don’t need a full-time employee. But as your business continues to grow, you may find having extra help to be a huge asset.

In this way, hiring an intern part-time can be a gap fill until your business grows enough that you need full-time help.

And by the time you’re ready for a full-time employee, then perhaps this intern will have graduated and will be ready for a full-time job—and they’ll already be trained and familiar with your processes. It’s a win-win!

Is offering an internship right for you?

Internships could potentially save small-business owners thousands of dollars each year, but as we’ve seen, that’s not the only reason to hire an intern.

Internships can provide enthusiastic help for the tasks you don’t need to do yourself, and can be an excellent stepping stone as your business continues to grow.

To decide if an internship approach is right for you, take a look at the administrative tasks you wish you didn’t have to do.

  • What would you pay a full-time professional or contract worker to do them?
  • Could an intern handle these tasks, or do they require professional expertise?
  • What would you pay an intern? How much would that save you?
  • What would it cost (in additional time or money) to train the intern as compared to a more seasoned worker in the areas where they lack experience? Would your hiring savings outweigh these costs?
  • Could the intern bring some additional skills or perspective that you don’t need to train (and maybe can’t)?

And perhaps even more importantly:

  • What would you focus on if you didn’t have to do those tasks?
  • How would the time you spend on your business look different?
  • What could you accomplish in a year by focusing on the aspects of your business that sit firmly in your zone of genius?

If you’d like to dig deeper on this and other strategies for increasing your profits, grab your free copy of my e-book, Mind Your Profits, at www.profitminds.net.

Don’t Let that Prospect Just Walk Away

What happens when a prospect isn’t ready to spend the amount you’re charging?

Short version: they leave.

Whether by walking out of your brick-and-mortar store or closing a browser tab, if a prospect decides not to buy your offer, they’re gone. They might try to find a better option elsewhere, or they might not.

If you don’t have a strategy for capturing that prospect’s business, you could be leaving money on the table.

What is down-selling?

Down-selling is nothing more than offering a prospect an alternative at a lower price when they decline your original offer.

The goal is to turn the prospect into a client. You not only get the short-term financial benefit, but you also​ gain the opportunity to do business with them again in the future.

Gyms do this all the time. They always start by trying to sell new members a full one-year membership.

If the prospect declines, they’ll offer a 90-day “health makeover” membership. If that fails, they may go to a 30-day or possibly a one-week “trial” membership.

Gyms and health clubs know if they can just get a prospect to buy something, the odds of them staying with them in the long term goes up exponentially.

Small sales add up to big results

Consider the local florist.

Many people show up at a florist to buy roses for their better half—Valentine’s Day, a birthday, an anniversary, Mother’s Day, and so on.

But suppose a bouquet of a dozen roses costs $50, and they don’t have that much money to spend. If the florist didn’t have other options, that’s a prospect out the door and buying at another shop.

If the florist has a less expensive alternative—say, a dozen carnations for $25—the florist might make a smaller sale (instead of no sale at all).

This seems like a minuscule move, but it makes a big difference.

If our hypothetical florist only used that down-sell once each day, this would still add up to almost $8,000 in additional annual revenue.

I do this in my business, too: My highest priced offer is one-on-one coaching, but I also offer group coaching at a lower price point. More affordable still is my e-learning site. By providing high-quality options at multiple price points, I make my services more accessible to a wider portion of my prospects.

Having a solid down-sell strategy increases the value of each prospective customer by turning a no-sale into a smaller sale.

How to create a down-sell offer for your business

What’s your current price point for what you currently sell?

Cut that price in half and try to come up with an alternative for this new price.

How many of this new product or service would you conservatively estimate you could sell each week?

To see how this strategy can affect your revenue, multiply your reduced price by your number of weekly sales, then multiply that number by 52 weeks to reveal your annual increase.

And that’s just one down-sell. How many additional down-sell opportunities would you estimate you could easily develop?

In addition to less expensive bouquet options, our florist could create down-sell alternatives for weddings, lower-priced options for funerals, less expensive boutonnieres for prom, and so on.

Ultimately, a small sale is better than no sale. And if you really “wow” them, if you over-deliver on your promises, if you give them an exceptional experience, they’ll want to keep coming back and giving you their business over and over again.

Want to understand down-selling better or learn more about how this might fit in your overall profitability strategy? Grab your free copy of my e-book, Mind your Profits, from my website www.profitminds.net.