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    0 Replies Latest reply on Jun 12, 2009 2:45 AM by markhill

    The "Big 5" Breakthroughs In Business Life

    markhill Newbie
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      Any home business owner, entrepreneur or sales professional can
      multiply their income by at least 10x almost overnight and own more
      autonomy, independence and security than ever before by understanding
      five critical components about their business. This article exposes
      "The Big 5" breakthroughs in business life you must understand in the
      21st Century...

      "Big 5" Breakthrough # 1:

      "Who Is Your Business For?"

      Do you know? Believe it or not, most don't.

      Being real specific and targeted about who your customer or
      prospect is opens up huge doors and allows you to become a specialist
      in your area. Most businesses try to be all things to all people.

      Case in point: A 'general' store makes no money but a store that
      sells a very special, unique type of cake with organic ingredients
      imported from a special farm in Iowa is sought after and has almost no
      competition.

      Get it? It specializes.

      Example: Holiday Inn

      Holiday Inn is dying a slow death. They do not know who their
      customers are anymore. They don't target anyone. One minute you see a
      commercial targeting business travelers, the next, a $69 dollar a night
      special package targeting families going to Disney World.

      Ritz Carlton on the other hand knows exactly who their customers
      are. It is the affluent market. And they can ask whatever price they
      want, whenever they want. And they can get it. Period.

      They get it because they know who their business is for and exactly
      what their customers want. As a result, they can then deliver, every
      time.

      If you don't know EXACTLY who your business is for, how on earth can you deliver your solution to them?

      • "Big 5" Breakthrough # 2:*

      "What Is Your Business?"

      Most business owners and entrepreneurs define their business too
      narrowly. They focus only their products and services. The BIG income
      leap comes when you focus on solutions, aspirations, and experiences.

      Example: Starbucks

      Starbucks does not sell coffee. Nope. Not in the coffee business.
      You read that right. They are in the "Third Place Business." And
      they'll even admit it.

      1st place = Home

      2nd place = Work

      3rd place = Starbucks

      It's a place people go for socialization, escape, to get work done,
      atmosphere, productivity, etc. Its an experience. Oh, and by the way,
      they sell coffee.

      Get it? Heck, even I work at Starbucks a day or 2 a week for an
      atmosphere change with no distractions. As a matter of fact, I'm
      writing this article at Starbucks right now. Double espresso please!

      When you know what your business is you can then, and only then,
      increase the value of every customer you get. This is where the BIG
      income leaps come in.

      "Big 5" Breakthrough # 3:

      "Positioning For Power"

      Sounds dangerous, huh?

      This is the bridge between # 1 and # 2. When you know your who and you know your what you can position your business for power and eventually market share.

      Example: Subway

      Subway changed from the fast food, sandwich business to the weight
      loss business. Did you notice? Just ask Jared. They don't sell just
      sandwiches. They sell weight loss.

      A new who and a new what is 'positioning.' Subway repositioned
      itself. They focused on the psychology of the customer not their
      'stuff' and they revolutionized their entire business.

      "Big 5" Breakthrough # 4:

      "Where Is Your Business?"

      You no longer have boundaries in your business except the ones you
      create. Boundaries no longer apply and if you're only doing business in
      your local area you are leaving a small fortune on the table.

      Example: 1(800) Flowers.

      You realize you can get flowers anywhere in town right? You pass by
      a dozen options a day. So why do people insist on going online to buy
      from 1(800) Flowers?

      Because 1(800) Flowers has properly positioned itself with no
      boundaries and a great marketing strategy allowing us all to believe
      that this is a much better, more convenient option. They know where
      their business is. Its everywhere. And its positioned for power.

      • Big 5 Breakthrough # 5:*

      "Price Elasticity"

      People think people buy things based on price. Dead wrong. Seriously.

      Did you know in a recent poll that 75% of people polled did not
      even place price in their top 5 reasons as to why they didn't buy?
      Fascinating to me.

      Often times it is your attitude about price that gets projected
      onto the customer. As a matter of fact, 20% of people will buy a
      premium price (higher price) option, IF you offer it to them. It has a
      higher perceived value.

      Business is about finding a who, who is not restricted by price.

      In order to do that, you need to actually know who your business is
      for (# 1), what your business is (# 2). Then it can be positioned for
      power (# 3), and it will have no boundaries (# 4).

      Then, and only then, you can find the who, who is not restricted by price (# 5)

      Think about this. Read The "Big 5" Breakthroughs again and again.
      Print it out. It will give you a great deal of clarity for your
      business and allow you to be razor sharp in your marketing efforts so
      that you too can...

      Multiply your income by at least 10x almost overnight and own more autonomy, independence and security than ever before.

      After all, isn't that the point of owning your own home business?

      Andrew J. Cass is a Home Business Development Expert, Marketing Consultant and Certified Dan Kennedy
      No B.S. Business Advisor. To learn insider secrets and powerful
      marketing strategies from the pros to help you explode your home
      business empire, sign up for Andrew's FREE Ezine by visting his web
      site at: