Jim's Marketing Blog

Marketing ideas to help you grow your business

Author: Jim Connolly (page 21 of 195)

How to be a millionaire. Yes, seriously!

I’d like to share what I believe to be the easiest way, for a small business owner to make a million (pounds, dollars, euros etc).

How to make a million

Mathematically, there are lots of ways to achieve your million. Here are 3, starting with the worst and finishing with what I believe is the best option for a small business owner, with limited resources.

  1. You can make £1 from a million people. Possible, but incredibly hard. You need an extremely large reach, to connect with the millions of people required, in order to find 1 million who will pay you £1.
  2. You can make £1000 from 1000 different people. Easier than the first option. It requires a far smaller reach.
  3. Alternatively, you can make £10,000 from just 100 clients or customers. The balance here is a lot easier for you to manage. If you provide a product or service that has massive value, it’s extremely achievable to attract just 100 clients. Equally, if you’re marketing to the correct type of people or businesses, they have zero problem investing £10,000 in something, which they value enough.

These are not exact numbers. The best option for you may be somewhere between number 2 and number 3. The key is to get you thinking about how to make your next, or first, million.

An achievable, realistic target

Whilst many people struggle to believe they can become a millionaire, everyone in business knows they can attract 100 high value clients or customers, if they use the correct strategy. This totally changes how you feel about becoming a millionaire. Now it’s an achievable, realistic goal.

So, what are you going to create, which 100 people or organisations will pay you £10,000 for? Spend some time thinking about that. Give it the time and effort it deserves.

It could change your life.

Tip: Here are some useful ideas, on how to create a great new product or service.

To improve a business, let go of the Failing Familiar!

A reader asked me a great question earlier. She wanted to know why she isn’t making the changes her business needs, even though she is, as she put it; slowly losing her business.

Here’s part of the advice I gave her. I want to share it with you, in case someone you know needs to hear it:

“Start by accepting just how urgent your situation is. A failing business is unsustainable. The time to act is now… today. What stops most people doing what’s required, is that it means making a big, scary commitment. It means stopping your current strategy, which put you in this situation. It means letting go of the failing familiar.”

The hardest part of turning a business around is making that initial commitment, to let go of the failing familiar. After that, your mindset shifts. You start looking for answers, rather than hoping things will somehow, just improve.

Whilst hope is absolutely essential, it isn’t a business strategy.

Tip: Here’s a heartbreaking email, which every small business owner needs to read.

How to avoid wasting money on advertising

Here’s how to avoid a common advertising mistake, which loses small business owners a fortune.

Who (not how many) are you reaching?

The next time you are thinking of advertising, remember that the numbers come second.

Most small business owners buy advertising, based on the number of people who will read, watch or listen to the advertisement. That’s how to buy ineffective advertising. You see, it’s not about the number of people who will potentially see or hear your ad. It’s about who those people are.

The ad reached 125,000 people for just $475!

I was prompted to write today’s post, after a reader emailed me to say she had recently paid for an advertisement that went into a newsletter, with a readership of 125,000 people. She explained that whilst the readership “wasn’t an ideal fit”, she thought $475 to reach all those people was a bargain.

Her advertisement generated 9 responses and no sales.

Here’s what she got, in return for $475:

  • 7 responses came from pushy advertising salespeople, trying to sell her more ads.
  • 2 responses came from people who were totally unsuitable for the service she was advertising.

Like most small business owners, she was seduced by the number (or reach) of the advertising, rather than who the advertising was reaching.

In short: Before you invest a penny on advertising always, always find out who your ad will reach, before you concern yourself with how many it will reach.

Tip: Here’s some useful information, with examples, on how to get your advertising right.

How to grow your list in 3 steps

If you write a newsletter or blog and your “list” is growing too slowly, this post is for you.

Toxic advice online

The Internet is packed with bad advice on how to improve the success of your newsletter or blog. So-called content marketing experts focus on things like; the best time to publish your work, how long your articles or posts should be and what kind of images you should use, how to SEO your work, etc.

These generic tips offer the reader no meaningful value. NOTHING that will resolve the actual problem. The reason no one reads Bob’s blog posts or Barbara’s newsletter, is not because they are published on the wrong day or at the wrong time, are the wrong length or lack the right images or SEO.

No.

The reason no one reads their work, is that it offers nothing new. It’s lacking in value. So, when people find it, they are not motivated to return or share what they have found. That type of blog or newsletter will never build an audience.

The actual solution?

It’s as easy and as hard as this:

  1. Have something worth saying and say it well. (In other words, provide massively valuable information and write it in a way that inspires your readers.)
  2. Put it where people can see it.
  3. Make it easy for them to share.

If you do that, your audience will grow. First, just 5 people will read it, but that’s fine. Why? Because they will love what you had to say, then share it with their friends. Some of their friends will value what you have written and they too will share it. Repeat…

To keep that process rolling and your readership growing, you need to focus on regularly having something to say, which people will value and share. This means learning how to write and having the courage to say it in your own unique voice.

So rich. So strange. So new.

I was prompted to share this with you today, after listening to a recording of the great Welsh poet, Dylan Thomas. Before Thomas took to the stage to share his brilliance with a packed, New York audience, he was introduced to the crowd.

The MC then described Thomas’ poetry as: “So rich. So strange. So new”. You can listen to the MC here. (It’s just 10 seconds into the audio.)

And it was. No one wrote like Thomas. He had something worth saying. He shared it with, initially, very small crowds. These small crowds of people then told their friends how amazing his poetry was. The media then discovered Thomas’ work and he became a worldwide success, whose work is celebrated today, 60 years after his passing.

Dylan Thomas didn’t succeed because he only wrote works that were a certain length. He didn’t succeed because he only performed or published on certain days. No. He succeeded because his work was too good NOT to share.

If we want to grow a highly valuable audience for OUR work, we need to strive to do the same. To be too good to ignore.

6 Ideas to make clients fall in love with your business

Here are 6 ideas, to help you earn the attention and interest of your clients and prospective clients.

  1. People love to feel appreciated: What are you doing, to show them your appreciation?
  2. People love to save time: What are you doing, to help them get more done in less time?
  3. People love to talk: What are you doing, to give them a story worth sharing?
  4. People love to relax: What are you doing, to make their lives easier?
  5. People love to succeed: What are you doing, to help them achieve their goals or dreams?
  6. People love to learn: What are you doing, to educate them in a meaningful way?

Invest in your marketplace. Contribute. Don’t make the mistake of expecting them to care about you, until you have shown that YOU care about THEM, first.

Tip: This will help you get the balance right!

Here’s what to do, when clients say you’re too expensive!

Most small business owners still believe that their clients primarily care about fees or prices… and they are right!

However, this is only true because they fail to offer clients anything else worth caring about.

  • No, people will not pay you more than average, when your services are too similar to other similar priced services.
  • Yes, there are providers in every industry who earn 5X or 10X the typical fees. Why? Because they provide 5X or 10X the value.

Rather than complain that clients care too much about your fees, create something else for them to care about. It works. In fact, it can transform your business.

Tip: Here are some examples to help you sell on value and be in high demand.

It’s time for a powerful marketing tactic

Here’s an extremely powerful marketing tactic, which your competitors are overlooking. Get this right and you will give your business a very strong advantage.

It’s simply this: Meet your deadlines every time, no matter what it takes.

Why?

Because by consistently delivering your promises, on time, you set yourself apart from all or almost all your competitors. You tell us more about your professionalism, commitment and reliability, than a marketing message ever could.

It’s a wonderful way to build a great reputation.

It’s also a fantastic way to grow your business, because you give the marketplace a story, which they will want to share. That’s the key to attracting high quality, word of mouth referrals.

There’s no substitute for courage and hard work. Period.

Think about this for a moment.

  • All the books we need to read are out there… waiting to be read.
  • All the contacts we need to make are out there… waiting to be contacted.
  • All the teachers we need to learn from are out there… waiting to teach us.
  • All the technology we need is out there… waiting to be used.

EVERYTHING WE NEED in order to succeed is out there, waiting for us. However, very few people are willing to pay the price for success. They want to carry on doing what they do, because it feels safe… even though it’s getting them nowhere. They want shortcuts, so they can avoid doing what needs to be done.

We have to be smarter than that!

If you want to succeed in any meaningful way, make better decisions and work hard. Extremely hard.

The bottom line: There’s no substitute for courage and hard work. Period.

Older posts Newer posts