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Does Your Business Need More Transactions?

More Transactions

Increasing the number of times your customers purchase from you represents a profound and simple business-building strategy that can easily double or triple your profits immediately, yet few businesses ever use it.

If you have a business that has current customers, then you already have a relationship established with them. You have already invested substantial marketing dollars and resources to attract and keep them as customers.

Now is the time to put into place specific revenue-generating strategies to help them purchase more often so they benefit even greater from your product or service.

We’re not suggesting you manipulate or push unneeded products or services onto your customers. Instead, we’re advocating that you serve your clients better by offering them additional products and services they want and need.

By getting your customers to purchase more often, you dramatically reduce the cost of growing your business.

Acquiring new customers is both difficult and expensive. But getting your customers to purchase more often is incredibly easy and costs virtually nothing to do… when you know, understand and apply the right strategies in the right situations.

Does this really work?

Have you looked in your over-stuffed mailbox lately? It includes several such catalogs by multi-million dollar companies (that did not start out this way).

Direct marketers such as Victoria’s Secret or Pottery Barn may be the best at using this powerful growth strategy. Once you purchase a product from them, they systematically mail you a catalog at specific intervals. Can you imagine how much money each one of their beautiful four-color, 30-40 page catalogs cost?

You may have even asked yourself “How can they possibly afford to continue sending these out every week?” They know, statistically and scientifically that you will buy the items in their catalog far more often, and from them as opposed to their competitors, if they consistently remind you of their offerings.

This strategy applies to EVERY business… and the increase in revenue can be dramatic!

Consider a quick oil change business. The recommended duration of an oil change typically is every 3,000 miles. There are those customers that change their oil at this exact interval. However, the true opportunity for this business lies in the group that tends to focus on an oil change AFTER the mileage has been reached. This describes 90% of all oil change customers.

It takes somewhere between one to four weeks before they finally come in for the service. What is it costing the oil change business if this group averages an oil change every 3,500 miles? Would you believe a staggering 15% in revenue… just from this one behavior!

How would you like to see an immediate 15% increase in total revenue WITHOUT spending any additional time, money or effort to get it?

What if we could give you a strategy that would practically FORCE these customers to not only come in for their oil change at 3000 miles… but to consistently come in BEFORE they reach that interval?

Put us to the test!

If you’re serious about building a successful business and you’ve decided that now is the time to finally seek out the professional help that can make a dramatic difference in your revenue and profit, then click the link below and we’ll show you first hand exactly how we help thousands of small business owners worldwide to generate more leads, attract more clients and make more money then they have ever made before.

Watch Our Guided Tour

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Does Your Business Need More Conversions?

More Conversions

How would you like to sell more of your products or services…
without increasing your traffic?

If that’s your goal, then you need to improve your conversion rate.

Business owners are always looking for the magic formula that can optimize the performance of their lead generation efforts. Unfortunately, there is NO magic bullet… just a systemized process that can double or triple your current conversion rates.

Let’s face the facts. I’ve seen just a slight change to a headline, one item added to a bulleted list, or the placement of a video on a website pay off in massive ways.

Sometimes even seemingly tiny changes — the headline color or the words you use on your buy button — can instantly double your sales.

Generating a multitude of leads is worthless unless you can convert the vast majority of those leads into actual sales.

So how would you like to know the secrets to converting
all of your leads into paying clients?

Put us to the test!

If you’re serious about building a successful business and you’ve decided that now is the time to finally seek out the professional help that can make a dramatic difference in your revenue and profit, then click the link below and we’ll show you first hand exactly how we help thousands of small business owners worldwide to generate more leads, attract more clients and make more money then they have ever made before.

Watch Our Guided Tour

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Do You Know How Your Client’s Make The Decision To Buy What You Sell?

Do You Know How Your Client’s Make The Decision To Buy What You Sell?

Have you ever given any thought as to how your clients make that all important decision as to whether or not they will buy your product or service? What is it EXACTLY that triggers their buy / don’t buy button? Is it really price that controls their decision, or are other factors involved?

What you need to know…

Believe it or not, price is actually one of your prospects last considerations. Human nature says that no matter who buys what you sell, they will always want “the best deal.” That doesn’t mean the lowest price, but it does mean they want the most “VALUE” for the price they pay. The perception that your product or service offers extraordinary value controls their final decision.

Why you need to know this…

The key is to create “extraordinary value” as it relates to what you sell. In fact, if you do this, you can even charge a much higher price, providing the perception of value justifies that price. Unfortunately, most business owners don’t have a clue how to create “extraordinary value,” and therefore don’t offer it to their prospects, costing themselves massive market share and a boatload of lost revenue.

To create value, a business must “innovate.” You must understand the things your clients want from your product or service, and then use innovative ideas and solutions to either remove the pain and frustration they normally associate with what you sell, or enhance the benefits they receive from using it.

For example, the daycare mom who feels frustrated and worried when she drops off her child at daycare because she doesn’t know how the child is being cared for finds tremendous relief and peace of mind (extraordinary value) when the daycare installs Web Watch… a 24 camera surveillance system that allows parents to view their child online, anytime.

The cost to you if you fail to act…

If you fail to create “extraordinary value,” then you look like, feel like and smell like your competition. You will be forever doomed to compete with them on price, and when you’re forced to compete on price, you have just lost the battle. There will always be someone willing to undercut your price… ALWAYS!

By innovating your business, you begin to separate your business from your competition. You begin to eliminate your competition from the minds of your prospects… and you will have your prospects literally saying to themselves that “I would be an absolute fool if I bought this from anyone else.”

Innovation attracts your “ideal” clients to your business. These are the clients that will buy more from you at premium prices. They will spend more money and buy from you over longer periods of time. Your revenue and profits begin to skyrocket as you begin to add unprecedented market share.

Look for ways to “innovate” your business and do so in such a way that you create extraordinary value in the minds of your prospects.

To take a Test Drive on our system visit http://increaserevenueandprofits.com/guidedtour

To your success,

Tom Flowers

P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and check out our E-Learning Marketing System™. It’s helping small business owners just like you get the answers and the help they need to build the business they have always wanted.

We created the E-Learning Marketing System™ with the perfect combination of online resources, tools and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion dollar businesses. click here to see for yourself.

 

Does Your Business Need More Leads?

More Leads

The most expensive and difficult function of any business is acquiring new customers.

The reason it’s difficult has nothing to do with you, your business, or your marketing. It has to do with the growth of the Internet and the tremendous number of scams and charlatans that lurk online offering every bogus product and service you can imagine.

People today are often highly skeptical of any product, service or offer… both offline and online. Consider the last time you heard an offer that you thought sounded valuable. You more than likely discovered that the offer came with certain restrictions, mandatory conditions or a buyer beware non-guaranteed transaction.

Prospects buy with their eyes… not their ears. They also need to know, like and trust you before they will buy what you’re offering. Or they need to know and trust the person that’s recommending what you sell.

Take GroupOn as an example. They have a stellar reputation and a high consumer confidence rating. They send out emails at 6am and often in two hours they generate hundreds of new customers for their member businesses. Many of these businesses have to take on additional staff just to handle the influx of new customers GroupOn generates for them.

This is why we built our new E-Learning Marketing System. It’s designed to be the ULTIMATE lead generation tool for small business owners around the world.

Many of today’s top marketing professionals are calling it “the single, most powerful lead generation and revenue-generating program” available today.

Put us to the test!

If you’re serious about building a successful business and you’ve decided that now is the time to finally seek out the professional help that can make a dramatic difference in your revenue and profit, then click the link below and we’ll show you first hand exactly how we help thousands of small business owners worldwide to generate more leads, attract more clients and make more money then they have ever made before.

Watch Our Guided Tour

________________________

Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Thinking of Selling Your Business to an Employee?

Thinking of Selling Your Business to an Employee?

Whether it’s because you want to keep the business “in the family” or because you suspect you will not be able to find a good buyer for your business, you may be thinking of selling your business to an employee. The first thing to think about is the kind of employee who can and should take over leadership and ownership. You’re entrusting your business and its future to this person or group of people. We suggest that a “key employee” may be a good candidate to purchase the business.

What is a Key Employee?

Key employees are those who have a direct and significant impact on business value, meaningfully participate in the business’ strategic future, and whose combination of skills and experience would be exceedingly difficult to replace.

Why would you sell to you key employees?

One reason you may want to sell to a key employee is that you believe you have already achieved financial security. You may feel that your employees have earned ownership or that you owe them ownership of the company for their many years of loyalty.

Another reason is you may not have an alternative option. Maybe you have no other third-party offers and no children to pass along the business to, so you look to your rock star employees to continue building your legacy.

Selling to Employees can be Both Fast and Slow

If you have some time to complete a transfer, a key employee might be a good option. Often, an owner must stay active in (or at least in control of) the company for five or ten years after the sale process begins in order to complete a successful transfer and attain financial security. In these years, owners hire and groom employees who not only want to be owners but also have the ability to assume ownership.

If your business has a business value today that you think is too low, you may also be considering a sale to a key employee. Taking more time to transition ownership to one or more key employees may also give you more time to grow business value and capture profits.

On the other hand, selling your business to key employees might be faster or less risky. Typically, key employees are very involved already in the day-to-day activity of the business. They will know how you want your company to be ran because you have groomed them to run it a certain way. They may share your vision for the future and see opportunities for growth and success that outsiders might miss. As a result, your key employees may be excited to get going on transitioning ownership sooner rather than later.

If you’ve been thinking about selling to employees for many years, or if the thought is just now occurring to you, you’ve reached the starting line for the next phase of your business owning journey.

We can help business owners identify and prioritize their objectives with respect to their business, their employees, and their family. If you are ready to talk about your goals for the future and get insights into how you might achieve those goals, we’d be happy to sit down and talk with you. Please feel free to contact us at your convenience.

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Copyright © 2020 Business Enterprise Institute, Inc. All rights reserved.

Can you really explode your revenue by 16 times?

Can You Really Explode Your Revenue By 16 times?

Add up your toiletries in your bathroom, and then count how many of them you use daily. You will discover you use about 20% of them 80% of the time. Your business is no different. 20% of what you do every day at work is producing approximately 80% of your total revenue. That also means that 80% of your daily activities produce only 20% of your total revenue.

What would happen if you could discover WHY 20% of your activities produce so much more revenue… and replace the remaining 80% of your non-productive activities with more activities like the 20%? You would see your revenue skyrocket by a factor of 16.

What you need to know…

If you can perform more of these “productive” activities, your revenue will explode. This explains why the wealthy work less and earn more… and why you need to learn how to work smarter, not harder. So why aren’t you currently performing these so-called “productive” activities?

The answer… you’re NOT doing the things you SHOULD be doing. You’re NOT doing the things that are your highest income-producing activities. It’s these activities that drive the revenue into your business.

Why you need to know this…

Answering the phone, responding to emails, ordering supplies, paying the bills, keeping the books, surfing the internet… are NOT high income-producing activities.

High income-producing activities are things like developing and creating new products or services, improving your current product or service, marketing that new product or service, developing joint venture relationships or affiliate programs, innovating your product or service so that it makes your business unique & superior, acquiring various elements of proof to use in your marketing such as testimonials or research.

These make up your highest income-producing activities… and these are the areas where you need to focus. Some of these you’re good at… you have “unique abilities” that lend themselves to these specific types of activities.

Others, you’re not so good at. The secret is to match them up properly so that you’re constantly performing your unique abilities in the areas that will produce maximum revenue for your business.

The cost to you if you fail to act…

Do you spend most of your day fighting fires instead of completing the vital few activities that will produce the greatest results… and the highest revenue?

Do you know specifically those few things you need to do daily that produce big results? Do you know how to match those few things with your unique abilities?

Do you know how to get rid of the minutiae that’s controlling your everyday activities and taking up your valuable time and energy… and replace that minutiae with the high impact activities that immediately produces income for you and your business?

How can you learn to develop these critical skills?

Our E-Learning Marketing System™ helps you learn and develop these skills quickly and easily. Our program has been so successful around the world that we have been inundated with requests to share our secrets with the small business community that needs it the most.

We would be honored to share our expertise with you… and help you achieve real results in your business..

As an example, is it really possible for a business owner to work less and actually make more money? Is there a secret code or password that makes this magically happen, or is it being in the right place at the right time? The answer… none of the above.

It takes specific skills and strategies to make this happen, and I want to share some of those with you in my gift of a Test Drive. Just click here to see the most powerful lead generation and small business marketing program ever created.

People on our system have sent us testimonials and stories of exploding their revenue by as much as 16 times.

This program will teach you the secret process we use to help you focus on your highest income-producing activities. Once you do, you can literally skyrocket your revenue and profits!

To take a Test Drive on our system visit http://increaserevenueandprofits.com/guidedtour

To your success,

Tom Flowers

P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and check out our E-Learning Marketing System™. It’s helping small business owners just like you get the answers and the help they need to build the business they have always wanted.

We created the E-Learning Marketing System™ with the perfect combination of online resources, tools and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion dollar businesses. click here to see for yourself.

Which Planning Process Is the Best Fit for You?

Which Planning Process Is the Best Fit for You?

Planning for a successful future isn’t homogenous. It simply can’t be. The needs that you and your business have are likely to be different from every other owner and business out there. So, the question you might ask about planning for future success isn’t, “How should I do this?” Instead, it should be, “Which process is the best for me?” Today, we’ll look at three different ways you can begin the process of planning for future success.

Urgency Planning

Many owners like to approach their planning through the lens of urgency. Urgency planning means identifying goals or problems that are of the highest risk, ranking them by risk, and then tackling each element in order. This may seem straightforward, but there are some considerations.

  1. How do you definerisk?
  2. Why do you think a certain aspect about your business is subject to risk?
  3. Why do you think you must address this risk before or after others?

Determining why things are urgent guides the planning process. If tackling projects based on their criticality is what’s most comfortable for you, it’s important for you to know why those things are critical and how they affect the other critical things down the list. Pausing to understand your reasoning may also give you some insight into your more fundamental priorities.

From-the-Ground-Up Planning

When business owners first start thinking about planning for a successful future, from-the-ground-up planning is what they initially envision. (This might be a reason why owners sometimes find the concept overwhelming.) The process for from-the-ground-up planning often looks like this:

  1. Getting internal affairs in order.This could be hiring the right and appropriate number of people, conducting quality control, or creating yearly goals for each team.
  2. Develop management.Once the house is in order, the next step is to find or train managers who can run the company themselves. Developing a strong management team is critical to the success of from-the-ground-up planning because it’s the managers—rather than you—who will keep internal affairs in order and exceed expectations. This will give you time to move to the next step.
  3. Designing your ownership transfer.Whether you stay in your business forever, transfer to insiders, or cashing out with an outside third party buyer, you’ll need to determine the appropriate amount of money you must have to achieve financial independence and how the business can support that need. Planning your future may include anything from installing programs to incentivize, retain, and/or reward key employees to creating a set of business continuity instructions in case you die or become incapacitated.

Hybrid Planning

Hybrid planning takes the two planning methods from above and mixes them together. Doing so lets you maintain a balanced momentum toward the things you’re excited about pursuing while still addressing the most daunting aspects of your planning process.

For example, you might be excited about building your company’s value but dread the idea of finding a next-level management team because you’ve never had one before. A hybrid method lets you combine your urgency planning (building value) with your from-the-ground-up method (installing next-level management) so that you aren’t disregarding the things you’d rather not do. Similarly, you might combine your urgent desire to install your kids as the next generation of owners and leaders, but you’ll also need to support the company documenting its internal systems and processes (a fundamental factor for business stability), which can help your children be more successful.

We can help business owners identify and prioritize their objectives with respect to their business, their employees, and their family. If you are ready to talk about your goals for the future and get insights into how you might achieve those goals, we’d be happy to sit down and talk with you. Please feel free to contact us at your convenience.

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

It’s Time to Exit. Are you Ready?

Thinking about whether or not you are ready to exit is an important question.  It’s something that every business owner will have to address at some point.  Importantly, you don’t want to wait until the 11th hour to prepare to sell your business.  There are far too many pieces in this particular puzzle to wait until the last minute.  You’ll want to begin the process sooner by asking yourself some key questions. 

Determining Value

First, you’ll need to determine the actual value of your business.  It is a harsh truth, but what you think your business is worth and what the market feels that it is worth may be two very different things. 

This point serves to underscore the importance of working with a business broker or M&A advisor early in the process.  An experienced broker knows how to go about determining a price that will generate interest and seem fair.  Remember that at the end of the day, it will be the marketplace that determines the value of your business, but working with a seasoned professional is an excellent way to match your offering price with what the market will ultimately bear.

Going Within

Secondly, you’ll want to consider whether or not you truly want to sell.  It is not uncommon for business owners to begin the process of selling their business only to realize a few hard facts.  Wanting to sell and the time being right to sell are often two different things. 

Upon placing your business on the market for sale, you may learn that you’re not emotionally or financially ready.  If this happens to you, consider it a learning experience that will serve you well down the line.

Get Your Ducks in a Row

If you have done a financial assessment, a little soul searching and have begun working with a business broker or M&A advisor to determine that now is a good time to sell your business, then there are several steps you’ll need to take.  You can be sure that any serious prospective buyer will want a good deal of information regarding your company. 

At the top of the list of items potential buyers will want to see are three years of profit and loss statements as well as federal income tax returns for the business.  Other important documents ranging from lease and lease related documents, lists of loans against the business and a copy of a franchise agreement, when applicable, are all additional documents that you will need to provide.  You should also have a list of fixtures and equipment, copies of equipment leases, lists of fixtures and equipment, and an approximate amount of inventory on hand.  A failure to not have this information organized and ready to present at a moment’s notice could be a costly mistake.

Working with professionals, such as accountants, lawyers, and brokers, is a savvy move.  Owning and operating a business can be a complex process, and the same holds true for selling a business.  Investing the time to seek out experienced and professional advice is the first step in selling your business.

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Copyright: Business Brokerage Press, Inc.

Rido81/BigStock.com

10 Questions To Ask Yourself About Your Business: Part 1

 

After over 160 episodes of Built to Sell Radio and more than 20 years interviewing and researching entrepreneurs, John Warrillow, host of Built to Sell Radio and five-time entrepreneur, shares the 10 questions all business owners and entrepreneurs need to be asking themselves — whether they are ready to exit their company or not.

On this episode, John tackles five questions from listeners and business owners that address the practical nature of raising capital as well as how to handle some of the most difficult aspects of an exit. To hear from past Built to Sell Radio guests who have put the answers into practice, check out the additional podcast episodes linked below.

 

1. How and when do I tell my employees I’m selling my business? Breaking the news can be tricky. Listen as John shares how to get the timing right.

Then listen to Episode 88: What Happens When The Big Dog Sells to find out how Anthony Amos handled telling his employees he was selling his company.

2. Should I bootstrap or raise money? John helps in understanding how funding can impact your long-term vision for your company and your role within it.

In Episode 152: This Grasshopper Learned Well, David Hauser built and sold Grasshopper using nothing but cashflow.

In Episode 118: The Founder of the “Female Viagra” Sells Her Business For $1 Billion, Cindy Whitehead talks about the benefits of raising capital to scale your business.

3. What’s the most overlooked term in a sale? It’s not actually a term but a document, and John will give you practical tips on how to negotiate for it.

In Episode 73: The Second Most Important Thing To Negotiate When Selling Your Business, Eric Sit overlooked a key detail and lived to regret it.

4. How do I figure out who the strategic acquirers are for my business? Find out how your buyer might be closer than you think.

In Episode 161: 4 Big Exits, 1 Smart Entrepreneur, we met Steve Murch. He had a strategic buyer in mind almost from the day he founded his business, which really paid off during his exit.

5. Can you use the same criteria to buy a business? John shares what he’s learned over the years.

Check out Episode 149: How Chris-Craft and Indian Motorcycle Were Built to Sell to find out how Steven Heese knew a failing brand was something worth investing in.

Listen Now

Do you want to improve the value of your business?

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Whether you are looking to exit your privately held business, represent an acquisition-minded corporation, value your business, or are personally interested in owning or building value in your own company or franchise, Colonial Business Brokerage offers the professional services that successfully bring buyers and sellers together.

Do you know who your ideal client is?

Do you know your ideal client… even when you see them? Your ideal client is much different from your typical client. How?

Your typical client NEEDS what you sell, and your ideal client WANTS what you sell. That difference is huge. Prospects may or may not buy what they need, but they always buy what they want. If you know how to find your ideal client, you can literally dominate your market.

What you need to know…

Prospects buy based on emotions, and wants are emotion-based. Needs are logic-based. When your product or service matches what your prospects specifically want, you will immediately begin to attract your ideal client.

Why you need to know this…

Your ideal client makes you the most money. In fact, for most business owners… 80% of your entire revenue is generated by only 20% of your clients. Those are your ideal clients. They love you and what you provide to them. They buy from you and you alone. They’re loyal and will never leave you. They sing your praises from the highest mountaintop. They send you tons of referrals and they give you unsolicited testimonials.

The cost to you if you fail to act…

Think about this for a moment. A mere 20% of your current clients are producing 80% of your total business revenue. What if you could replace that remaining 80% of unproductive clients with more of your 20% clients? Do you realize your income would explode by 16 times?

If your revenues right now total $50,000 annually, you have the potential to increase your revenue by an additional $750,000. No kidding!

• What could you accomplish with that much additional revenue?
• What would that revenue mean to you personally? To your business?
• And especially to your family?
• Can you afford to continue to watch this much additional revenue fall into the pocket of your competition?

It’s up to every small business owner to take the initiative to develop these critical skills. Once they do, they often find themselves dominating their market.

To take a Test Drive on our system visit http://increaserevenueandprofits.com/guidedtour

To your success,

Tom Flowers

P.S. Please remember that at any time you feel ready and qualified to move forward and acquire the professional help that can enable you to build the business of your dreams, just click here and check out our E-Learning Marketing System™. It’s helping small business owners just like you get the answers and the help they need to build the business they have always wanted.

We created the E-Learning Marketing System™ with the perfect combination of online resources, tools and support to get you out of any financial distress you’re presently experiencing… help you get laser-focused on your highest income-producing activities… and help you develop and then apply the fundamentals that build multimillion dollar businesses. click here to see for yourself.