Showing posts from December, 2014

How do Resturant Owners Design Price Menu and Its Advantages.

If YOUR Company offers any products in "Good-Better-Best" tiers, there is a great opportunity for you to generate significant profit dollars. The next time you are in a restaurant, take note of the selections and how they are priced in the menu. More importantly, notice how many people order the highest priced item. Savvy restaurant owners know the value of the highest priced item on their menu. They love it, but why? It is surely one of the costliest items for the owner and it is hardly ever ordered by patrons - so why is it so important? People have a hard time making choices, whether it is in selecting their steak from a restaurant menu or choosing from among several similar products that are used in their manufacturing process. In the restaurant, people will seldom order the most expensive item on the menu, but they have no issue with ordering the second most expensive. In fact, doing so makes them feel good subconsciously. Taking this a step further, there is usually at

Build Tremendous Value Into Your Offers

In order to (figuratively) grab your prospects and make them listen to what you have to say, it's critical for you to understand and remember what they want the most: value and benefits. That's basically it, at least at first. They don't care about your company or you, much less your products or services, except insofar as those things give them what they hunger for. If the benefits of what you offer make it worthwhile to them, they'll happily give you their money in exchange. Remember: it's always about what the customer wants. Not what you want or think they should want, but what they really want; and not necessarily what they need, either, because all we truly need as human beings comprises a very short list: food, water, shelter, companionship, and a little medical care. Our desires are what truly drive us. Most humans are selfish people, even when we're trying to do good things. It's even selfish to give people gifts sometimes, because you feel good w

Building Joint Venture Relationships

Building relationships in your business is crucial, especially when you create alliances and develop quick relationships with other smart marketers who are living and thriving in the market right now -- and who can help you make more money. I know it may sound selfish, but they say that you're who you hang around with, and I believe that. I also believe that you have only so much time and energy; so my relationships, except for a few personal family ones, are all with people I'm also in business with. I've taken my business and mixed it with my friendships. That's the essence of what all joint venturing is supposed to be about: people come together to do business together, so the revenue generated from that combination is much more that you would ever make on your own. In some cases, joint venture partners have cut me checks for millions of dollars. That's money we never would have earned without them -- and frankly, they earned a lot they wouldn't have without

Six Words That Determine How Much Money You Make

No matter what you do or try to make money, one small phrase containing just six words will ultimately determine your income. That may sound unbelievable at first, but bear with me and I'll prove it to you. The six words are: "What are you willing to do?" Consider one of the greatest entrepreneurs ever, Sam Walton. He was willing to do whatever it took to succeed, at least within his personal moral and ethical constraints. No matter the price, he was willing to pay it. He wrote an autobiography, Made In America , just a few years before he died. It's a great book, and you can see this principle in the background all the way through. In fact, when you study the great entrepreneurs, you'll see that it's a common denominator they all share. Back in the early 1990's, my wife bought me a gift that means more to me than anything else she's given me. It's just a little keychain with three words on it: "Whatever it takes." That's what I'

How to know your customers even better than they know themselves.

As a marketer and business person, the more you know about your customers, the more you can maximize your profits. In fact, your ultimate goal should be to know your customers even better than they know themselves. You see, people often buy for unconscious reasons they themselves don't recognize. They aren't always aware of what they're really after in your marketplace, or what's driving them to buy a particular product or service. It's an emotional thing, and most people are out of touch with their emotions. The more you think about who your very best customers are and the main benefits they're seeking, the more you'll understand them from that subconscious standpoint. While it may be an unconscious process for them, it has to be a conscious one for you. Start by writing down a list of the things your best customers are looking for. Focus on who they are, and try to get to know them better. One of the ways I've done that is by holding regular seminars a

How To Give People What They Want While Giving Them What They Need

You've probably heard of the old "bait-and-switch" scam. Here's how it works: You tell someone you're going to give them something for their money, and then once they pay you, you switch the item out for something cheap or useless. That's evil, and shame on you if you try it. But what you can do, completely aboveboard and legally, is sell them exactly what they want -- and give them what they need along with it. At my company, we love hosting seminars and similar live events for our clients. We believe these events offer one of the best ways possible for us to share our marketing expertise. We provide valuable content at these events, and usually the people who attend them end up loving them. But here's the thing: if we were to promote only the event itself, most people probably wouldn't come. Events, as such, are hard to sell. That means we have to find creative ways to offer these events to our clients, so we always wrap them around an opportunity w

How to Make People Want to Buy Now

You're best served if you can get people not just interested in buying what you're selling, but passionate about doing so. Generate a compelling desire to own whatever you're offering. The extent to which you can do this is the extent to which you'll get rich. Great salespeople always build a case for their products. If you've ever been to a state fair or anywhere a pitchman is selling a kitchen appliance or similar item, you've been exposed to some of the best marketing out there. I always stop and watch these folks, because I can learn from them; they really know how to get people excited about what they have. They keep the chatter going, telling the audience how important it is for them to own the item, how it will make their life so much simpler and easier. This is what we all should do. We're not all selling the same products, but we want to build that passion like they do, so people feel compelled to buy from us. It all boils down to a transfer of em