30 July 2018 0

If It’s Not Creating A Customer, It’s Not An Income Producing Activity (IPA)

Being Busy Doesn't Mean You're Being Productive

Let me paint a picture for you. You just started your business; (or you have been in business for a while now) and you ask yourself, “Where the heck are all my customers”?

I know you probably used ‘H’ double hockey sticks. Don’t worry. I’m not judging. You’re an Entrepreneur. You work hard every day building your business. So where are your customers?

I understand your frustration. I know what this feels like. Hit the pause button for a moment. Ask yourself this question:, Are you being busy or are you being productive? There is a difference, and that difference is tied to whether you’re engaging in an income producing activity or focusing on finding and securing that next deal.

For example, which would you do: spend hours writing that perfect proposal for that big potential client you think will change your business OR target a rich networking event where you can meet multiple potential clients? Difficult choice? Maybe, maybe not. It all depends on how you approach your Daily Mode of Operation (DMO). I suggest that you create a proposal template you can use repeatedly and all you need to do is make subtle changes. This template allows you to get the proposal to your potential client without spending a ton of hours and attend the target rich networking event.

The Speed Of Customer Satisfaction

When you’re a small developing business, speed can mean the difference between staying in business or having to close shop.

As small business owners, we sometimes get caught up in wearing so many hats that we unintentionally neglect customers needs. We become good at the sale of our product or service that we feel a sense of relief when we get that contract signed.

In reality, a signed contract is when the real work begins. You’ve gotten past the first stage of your income producing activity, but now you must deliver what you have sold. You want to over deliver. Always consider what business systems will help you scale and build relationships. Consider the entities with which you can potentially partner so that you already have people to lean on when it counts. Having the right strategic partnerships can aid you in being fast and efficient, speeding up customer satisfaction. Why compete when you can collaborate?

The Walt Disney Business Model Effect

Give Your Customers The Walt Disney Effect

A couple of days ago, I was conversing with a colleague about their dream business. They weren’t sure what they wanted to do, but they have always loved was travel. The Walt Disney business model became a topic of conversation.

I am not sure if you know about the Disney business model, but it goes beyond movies and merchandise. Don’t get me wrong, they make a large profit on both, but their bread and butter comes from the theme parks.

Disney provides its customers an experience they can’t get any-where else, and it is this experience that keeps us coming back. They pay attention to every detail from character placement in the park to trash disposal.

There is a lesson to be learned from Disney when it comes to the customer experience. Theses details are essential for a successful, income producing activity . You always need to consider your customer’s journey and the experience they will have with your business. Don’t be afraid to adjust when necessary. The change could save your business.

Do you know your KPI

Know Your Customer Key Performance Indicators (KPI)

Do you know your customer’s key performance indicators (KPI) as it pertains to their income producing activity? What tasks are you doing that lead down the path of securing a lead, transforming that lead into a prospect, and transitioning that prospect into a paying customer?

If you don’t know, it’s okay. You now know you need to figure it out. Tell your potential customers a story. You want to first grab your audience’s attention, lead them into your world. Maintain their attention, by speaking to their pain points – guiding them to the climax of the story by delivering the solution to the pains that ails them. You must take them through a journey, helping them understand the value you bring. Remember, if it’s not creating a customer, it’s not an income producing activity.

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By Demond Raybon

Demond Raybon is a motivated Technology Expert who creates strategic alliances with organization leaders to effectively align with and support key business initiatives. He also builds and retains high performance teams by hiring, developing and motivating skilled professionals. Demond is involved with developing the Infrastructure of small businesses and startups.