The 8 Profit Activators You Can Trigger in Your Business Right Now
Jul 14, 2023
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Dean Jackson, co-founder of 90-Minute Books and owner of NewInformation since 2003, shares marketing strategies, building customer relationships, multiplying profits through identifying opportunities, and implementing systems for business success.
The importance of dividing the business into before, during, and after units to optimize operations and enhance customer satisfaction.
Focusing on the after unit to build strong customer relationships can lead to loyalty, referrals, and positioning as trusted experts in the industry.
Using the Garage Multiplier Index to track customer value and actively seek opportunities for expansion and revenue generation.
Deep dives
Dividing the Business into Three Parts
To maximize efficiency and effectiveness, the speaker suggests dividing the business into three parts: the before unit, the during unit, and the after unit. The during unit refers to the core business operations, while the before unit acts as a separate entity that attracts and educates potential customers. The after unit focuses on nurturing lifetime relationships with customers and generating referrals. By treating each unit as an independent business, businesses can optimize their operations and enhance customer satisfaction.
The Importance of Nurturing Relationships
The speaker emphasizes the significance of building strong relationships with customers. By focusing on the after unit, businesses can nurture lifetime relationships with their clients and become their trusted service providers. Orchestrating referrals and providing ongoing support can foster loyalty and generate new business opportunities. By consistently maintaining contact and offering valuable resources, businesses can position themselves as trusted experts in their field.
The Garage Multiplier Index
The speaker introduces the concept of the Garage Multiplier Index, which measures the potential value of each customer relationship. By analyzing the last 100 jobs completed, businesses can determine how many additional services or referrals were obtained from those customers. This index allows businesses to track their performance and actively seek opportunities to expand their services and generate more revenue from each customer.
Targeting the Affluent Market
The speaker discusses the importance of targeting affluent customers. Wealthy individuals are often willing to invest in high-priced, high-quality products and services. By positioning their offerings as status symbols and delivering exceptional value, businesses can attract affluent customers who prioritize quality over cost. This approach enables businesses to differentiate themselves and tap into a market segment with significant potential.
Building a Strong Business System
The speaker highlights the importance of building a strong business system that can operate effectively without constant reliance on the business owner. Implementing systems and processes that ensure consistency and efficiency allows business owners to focus on strategic growth and expansion. By delegating tasks and empowering employees, businesses can create a scalable and sustainable operation.
Dean Jackson is the co-Founder of 90-Minute Books and the owner of NewInformation since 2003. He has been helping entrepreneurs and realtors make more money as a real estate coach and internet marketer. Dean also co-hosts the ILoveMarketing.com podcast and is the author of “Breakthrough DNA: The 8-Profit Activators,” where he shares ideas on how to accelerate business growth regardless of the entrepreneur’s current situation.
In this episode, we talked about marketing strategies, client referrals, customer relationships…
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