$5000 profit optimization report

7/28/2019 $5000 Profit Optimization Report

1/19


2/19

2006-2012 by Scott Hallman and Business Growth Dynamics, Inc. All rights reserved. Reproduction, in whole or in part, without written permission isprohibited.

1

An Entrepreneurs How ToManualFor Harvesting $5,000-$100,000 in

Added Profit Streams from TheirExisting Business - in the Next 30

Days!

Same Customers. Same Employees. Same

Products and Servicesall withoutspending a dime.

Scott Hallman, founder of the 59th

Fastest GrowingPrivate Company in America*, Reveals Instant Profit MarketingStrategies Inside

US 47.00 Retail


3/19


2

Dear Fellow Entrepreneur:

In working with thousands of companies (from start-ups to billion dollar companies), inover 250 industries worldwide, one thing is certain businesses are needlessly leaving aton of profit on the table.

Therefore, I created this special report because I am passionate about helping businessowners optimize their profitability - all with little time, money, effort or risk!

Although most business owners know many of the fundamentals of marketing, salesconversion and selling more to their existing customers, the vast majority are notimplementing these within their business and almost none do it systematically toguarantee that they maximize the results and cement in the changes that will earn themhundreds of thousands or even millions in profits over the life of their businesses.

My personal clients shell out $1,250 per hour to work with me and are required to sign a

one-year minimum $37,500 agreement. They range from leading food producers, tomedical practices, to manufacturers, to retailers, to home service providers, to pure onlinecompanies.

The #1 reason they make this hefty investment is to learn how to systematicallyimplement. Sound familiar?Well, you are not alone.

980 Business Owners Found Over $10,000 in Less than 90MinutesWhat About You?

At two high-end business seminars, the collective companies uncovered over

$80,000,000 in new profit streams they expected to generate from my 90 MinuteWorkshop many of the profit strategies they learned are included in this report. Howcould these highly committed business owners not be fully implementing these simplesuccess strategies? The answer is likely one of these three reasons:

1) They are exclusively focused on getting new business from new marketing andsales methods.

2) They mistakenly believe that once they implement something, they are finished.

3) They know the WHAT but not the HOW.

My Promise to You

In the following 16 easy to read pages, I am going to share four (4) time-tested profitgenerating strategies that EVERY business can easily deploy. And I promise you that ifyou have an existing business, you will absolutely generate at least $5,000 just from whatI teach you here.


4/19


3

And if you have a start up business, pay close attention because it is critical that youmaximize every dollar of profit from day one.

The Catch

There is one catch to me giving this information to you for FREE, and here it is:

IF this report delivers at least $5,000 in added profit streams for your business aspromised, then I fully expect you will join thousands of other business owners that investin our Business Growth products, programs and coaching services (seewww.ScottHallman.com - Business Tools).

Fair enough? Ok then, lets get started.

How to Systematically Add 10-20% to Your Business Profits withLittle Time, Money, Effort or Risk

As the Founder and CEO of a company named as the 59 th Fastest Growing PrivateCompany in America, I faced many of the same challenges (and opportunities) as you doin todays challenging market. In fact, I built my first national company during the worstrecession since the Great Depression!

My passion is Profit Optimization and it is the difference between an entrepreneurmaking a nice living and one that creates both wealth and the freedom that comes withit.

This report is not a sales gimmick or some bait and switch technique, which is sopervasive in the business training arena these days, but instead a HOW TO manual forhelping you actually earn profits immediately. The techniques inside apply to EVERYbusiness on the planet - doesnt matter if you are a novice or a sophisticated businessowner. Doesnt matter what industry you are in, or where you are located, or whatdemographic audience you serve.

Now I do not want to over promise. The information in this report is fundamental. Theimplementation tips are fundamental. But the results you will produce can be significantif you apply the simple techniques I suggest. If you do this, you WILL generate thepromised $5,000 in cash. Then I will give you more advanced resources to take yoursuccess to the next level and beyond.

Theres no time for big concepts, a lot of hype, orexperimental sales and marketing tacticsmany businessesare feeling the real impact from the recession. Savvy companiesknow when it is time to focus on time-tested proven, results-based, low risk marketing/sales methodsand nobody is betterat that than Scott Hallman, nobody.

- Chet Holmes: Top Fortune 500 Consultant and best selling author of TheUltimate Selling Machine


5/19


4

3 Critical Things You Must Know To Ensure YouGenerate at Least $5,000 in Pure, In Your Pocket

Profit From This Special Report

Before I share the profit strategies with you, I want to ground you on three (3)

principles that are critical to your success. They are important so dont cheat and skipthem.

1) The HOW is 10 times More Important than the WHAT2) Its ALL About (Systematic) Implementation3) The Power of Incremental Improvement

Principle #1 - The HOW is More Importantthan the WHAT

We are in a new age of marketing awareness that I call the age ofimplementation. We are leaving the age of ideas, and in its path of destruction aremillions of beaten down companies that have spent billions of dollars learning hundredsor even thousands of ideas without a clue HOW TO IMPLEMENT them. The fact isthat you dont need any new ideas but instead you need to learn the science of systematicimplementation.

Our survey of companies in 50 industries that had spent $2,500-$25,000 onmarketing seminars or training materials, showed that at least 81% of these companieswere not systematically using any of the proven profit strategies revealed in this report.

Its amazing how McDonalds can generate 20-30% of its profits from just one ofthese potent marketing techniques and yet few companies duplicate what they havebeen doing for 25+ years (and it still works as well as it did day one). In fact, I once heardit generates as much as 20% of McDonalds profits!

Let me challenge you on this premise. Do you know HOW to systematicallyimplement a new Strategic Alliance (or Power Affiliate) program?

How to develop a win-win proposition to take to them?How to approach them?How to structure a deal that works for both of you?How to make them feel protected that you will not damage their customer

relationships?How to avoid legal liability?How to dissolve the relationship in a positive way?How to create or avoid creating non-competitive or exclusive territories?And so on?

This brings me to


6/19


5

Principle #2 Its ALL About Implementation

A few years ago there was a bestselling book called Execution. It looked at thebest corporations on the planet and found that the key to success and failure wasExecution. Although this book was focused on Fortune 500 companies and therefore a

bit complex for entrepreneurs to apply, the lessons it taught are equally applicable to yourbusiness.

Principle #3 - The Power of Incremental ImprovementHow to Earn $12 for Every New $1 in Profit

Forget the promised breakthroughs to triple your business in your sleep. They aresmoke and mirrors and dont work. Havent you been a victim to this false lure? This isthe same mentality that caused people to buy worthless dotcom stock that financiallywiped out so many.

Instead, smart companies look for consistent, measurable profit increases that arebuilt on solid factsthose that produce results today and in the futureeven during arecession (like the one we face NOW).

Let me use an illustration to drive home the point:

How To Turn $20,000 Into Nearly a $100,000

If you generate just four (4) new, sustainable profit techniques that increase profitsby just 5% each, you will produce a 20% profit increase per year. But that is just thebeginning of the profit stream that you will receive.

For every $100,000 in profit you now produce, you add an extra $20,000 peryear

Continue following this Success Process and over 5 years that figure = $100,000in extra profit, or if you prefer to look at it a different way, the $20,000 increasein profits increases the value of your company 5 times (a common wayinvestors value companies)

Total impact: $100,000 of in your pocket profit.

REALITY CHECK - If you have a systematic method for implementing theseproven, time-tested marketing and sales strategies and tactics, and continuously work onrefining them, then producing a 5% improvement seems quite reasonable, doesnt it?

IMPORTANT: This is not nice theory. It is absolute scientifically based FACT. Ifyou implement a systematic process and it is successful, and you discipline yourself tomonitor the results for life, the success procedure will continue to produce profits foryears to come. The product you offer may change, records to CDs to MP3 players, butthe results will be the same.


7/19


6

Now, As I Have You Grounded, Lets Get To The Profit Strategies

At www.ScottHallman.com we teach dozens of profit enhancing strategies andtactics, as well as dozens of specific techniques for acquiring new customers, maximizingprofitability and managing your business more effectively all with step by step

instructions that require little time, money, effort or risk to produce predictable,measurable results.

For this report I selected just four (4) simple profit enhancing strategies that producesure-fire profits for every business (yes, my sales pitch #1 but dont worry, I will deliveron my $5K promise).

How to Increase Profits FromExistingCustomers, Clients, and Patients

WARNING: Dont get into the I know this stuff trap. Yes, you may know thesestrategies and tactics, but are you applying them in your business to their fullestpotential?

In our full-blown training workshops, we teach companies how to apply our 50+business growth strategies/techniques in 3 ways:

1) Implement them as a New Application - If you dont currently deploy one of thesestrategies in your business, then simply doing so will help you immediately increaseprofits.

2) Optimize the Current Application When was the last time you visited yoursuccess procedure to make improvements in order to increase the results? Simplechanges can increase results 10-25% or more.

3)Expand Upon the Current Application - Apply the success technique to anotherproduct or service you offer. If you have ever ordered Miracle Blade knives fromthe infomercial, then you have experienced the incredible power of being up andcross sold13 times! What starts off as a $29.95 purchase averages over $200.00 (orso the sales person told me) or almost 650% more!

As I go through these simple profit strategies, first ask yourself, Should we

Implement it or Optimize it, or Expand upon it?

-Jay Conrad Levinson, Guerrilla Marketing Founder

Scott, Ive written 31 books that have sold over 20million copies and you have made me feel like afailure because I have not addressed the simple,duplicatable profit strategiesthat you teach.


8/19


7

Lets Rock and Roll

Power Profit Growth Strategy #1 Increase Your Average Point ofPurchase Profitby 10-30% Using The Power of Upsell and Cross-Sell

Have you ever gone to McDonalds and been asked the question, Would you likefries or a Coke with that? Or Would you like to Super-Size your order today?

Or have you ever purchased a Phone, or Digital Camcorder, or a Car and been askedif you would like to buy the extended warranty?

Or have you ever gone to purchase a basic model appliance, say a washer and dryer,andplanned on spending $500 but instead left with a better model to meet your needs,which costs $650?

And have you ever found yourself saying sure, why not to such offers? Eventhough you didnt order or intend to order that additional item when you arrived?

The fact is, statistically 30% of people say yes to these questions and thecompanies effectively employing this simple strategy earn as much as 10-30% of theirprofits from this time tested marketing tactic (ironically, our survey shows 88% ofcompanies dont systematically use this tactic). That equates to $30,000 in added profitper year if your business now earns you $100,000, $75,000+ per year if you currentlyearn $250,000, and $300,000 if you earn $1,000,000.

The concept is called upsell or cross-sell. Upsell is where you get the customer topurchase more or a greater quantity of what they are ordering and cross-sell is where youget the customer to buy an additional item or service that they did not intend to order. Thekey to such systems involves timing, proper item selection, understanding of marginalprofit and a measurement system.

Ok, lets get you to start making some money.

Power Action Step:

Offer 10 of your customers an additional item at the point of purchase and see howmany say yes (make it a small added cost). Change the way you ask for the offer itself.

Before Scotts program we felt like we upsold pretty well. Boy was I wrong.In just one month of implementing the step-by-step process, exactly as Scottteaches, we increased profits an incredible 18%. And for a $3M businessthats a chunk of change. The greatest part is these same results will continuefor the life of our business.- Marx Rubio-Acosta, One Stop Shop (INC 500 listed company)


9/19


8

Write it down! I know it is simple but if you experience 2-3 saying yes and thencalculate how much that will earn you, this will get you excited to formalize a system.

$$ PROFIT IMPACT CUMULATOR $$:

Ok, if you do not currently have a systematic upsell/cross-sell marketing program inplace, or you do not maximize its potential, lets see how it would impact your bottom

line (remember The Power of Incremental Improvement discussed above).

Here is REAL-WORLD Example:Retail Rug Store that added padding as a cross-sell

A) Current Annual Revenue: $1,000,000B) Times 5% increase $ 50,000 A * 5%C) Gross Profit Margin 50%D) Added Profit Per Year $ 25,000 B * C

E) Business Value* or5 Year Profit Stream $ 125,000 D * 5

* A general rule of thumb for small business valuations is typically 4-6 times its annualprofitability.

YOUR POTENTIALA) Current Annual Revenue: $_______B) Times 5% increase $_______ A * 5%C) Gross Profit Margin _______% (your %)D) Added Profit Per Year $_______ B * CE) 5 Years of added Profit $_______ D * 5 yearsE) Business Value* or

5 Year Profit Stream $_______ D * 5

If you are like most businesses, you just blew past the $5,000 in profits wepromised you from this report (more on the specific implementation details later). Evena 1% impact for our baseline $30,000 business will achieve this modest result.

TIME OUT

I can hear some of you saying, Hey, we already do this or we already know this.But, let me ask you:


10/19


9

Have you optimized it?Rugman was doing it toobut when they optimized, they blew the doors

off the results in fact, a 180% increase.

Do you track results?Pauls Pet Foods saw sales jump over 20% but then went back to business asusual and watched these results disappear.

Have you trained your staff to duplicate your results?GNC owners did it great but the employees produced less than half the results.

At www.ScottHallman.com you will learn 10 ways to use this powerful growthstrategy - complete with Interactive Workshops that guide you through our 10-stepimplementation system using templates to assist you through the process.

Power Profit Strategy # 2Increase Profits by Getting Your Customers toPurchase More Often

You are literally sitting on a gold mine this very moment. You'll quickly find youreasiest source of new profits using this one simple strategy.

Do you realize that your most profitable assets are your current and formercustomers/clients/patients? Business owners are all too often so busy trying to chase afternew clients/patients that they completely neglect what they already have. I see this all thetime. A well known study in Fortune magazine revealed that it is 6 times more expensiveto get a new customer (or patient) than it is to sell a current one. And theres a goodreason for that. Its because your customers trust you, they have faith in your abilities,and they like you. So wouldn't it make sense to become proactive, even "ethically"

aggressive in marketing to them?

Can a Haircut Really Add 35% To Sales?

Lets assume you are a busy businessperson with an uncertain schedule (like all ofus). You finally get frustrated with how your hair looks and call to get an appointment.Unfortunately, the earliest available time is over a week away. Rather than looking andfeeling great by getting your haircut when you need it, you often fight through two orthree weeks of bad hair days. Sound familiar? If so, you are one of the 50%-70% thatfollows this very pattern when it comes to their hair.

And is your hair the only thing that you run this pattern with? What about your oilchanges, tune up or transmission services? Or your regular medical/dental check-up? Oryour annual eye exam? How about when it comes to getting your carpet cleaned? Ordoing your will or estate plan? Or having your insurance reviewed? Do you tend to havethese services performed later than you should?


11/19


10

Lets Look at the Numbers More Closely

Lets use our simple hair salon example to illustrate the profit impact potential. Ifyou got your hair cut every three weeks (when you wanted and needed it) versus everyfive weeks (when you are looking a bit raggedy), the revenue to the salon would go up

a whopping 70%. If we assume that only 50% of the customers do not diligentlyschedule their appointments, then that revenue increase to the salon is a whopping 35%overall! (50% of the customers increase sales by 70%.) Even if the salon could getonly half of these folks to come in more often, the impact is still over 15%.

WOW! But HOW Will They Achieve These Incredible Results?

How can this be achieved? Well, let me ask you another question. Would you moreregularly schedule your appointment if the salon followed up with you after two weeks toset an appointment (when you knew your schedule) - if you really wanted a haircut moreoften? For the vast majority the answer is absolutely.

The strategy of Conditioning Your Customers to Purchase More Often representsone of the most profound and simple business-building strategies for increasing yourprofits 5%-20% immediately. Yet few businesses or practices utilize it. The power lies inthe fact that you already have a relationship with your customers.

Why Do So Few Use This Simple Strategy?

When we launch a Private Coaching relationship with a company, we first have themfill out a 25 page questionnaire that covers every aspect of their business. One area weask about is how they follow up to stimulate repurchase. In the vast majority of the cases

the answer is We dont or We send them something once in a while. Yet this iscritical for building loyalty and trust and for reminding people to buy again.

ATTENTION ONLINERS if you ignored this because you have an auto-responder program but do nothing else, then you have a ton of upside opportunity.Simply adding the phone to your follow up process can increase sales dramatically.

So what else does your customer buy? What dont they buy that you provide?If you evaluate your current customers buying patterns (there are four specific secrets tomining for dollars), you will find tons of opportunities to sell them more of what theybuy. Plus, you can expand their purchase pattern to get them to buy more of what you

offer.

Heres a simple idea

Just keep in constant contact with your customers!

But it can't just be any old mindless communication you send out! It has to be self-serving for the customer. It has to be educational. It has to be full of benefits. And it has


12/19


11

to lead them to making the only rational decision they could possibly maketo buy yourservices or product.

Power Action Step:If you have a repeat nature product or service, then contact 10 clients that have not

bought in a timely manner (whether your product or service is typically purchased atregular intervals like a haircut, or if one that is randomly purchased like a restaurantor landscaper or chiropractor). See if you can stimulate them to purchase sooner thanlater.


Ok, if you do not currently have a systematic repeat sales program in place or you donot maximize its potential, lets see how it would impact your bottom line (remember

The Power of Incremental Improvement discussed above).

A REAL-WORLD EXAMPLE:$500,000 Back Pain Clinic

A) Current Annual Revenue: $500,000B) Times 5% increase $ 25,000 A * 5%C) Gross Profit Margin 80%D) Added Profit Per Year $ 20,000 B * CE) Business Value* or

5 Year Profit Stream $ 100,000 D * 5* Based upon a typical valuation of 4-6 times its annual profitability

YOUR POTENTIALA) Current Annual Revenue: $_______B) Times 10% increase $_______ A * 5%C) Gross Profit Margin _______% (your %)D) Added Profit Per Year $_______ B * CE) Business Value* or


Again, you should blow the roof off my $5,000 promise with this one application easily.

This Power Strategy applies to every business and industry.

"I firmly believe that every business in Americashould own The Power of ONE program by ScottHallman. It simply is a work of pure genius.

-Dr. Joe Vitale, Best Selling Author andPanelist on The Secret


13/19


12

Clearly the examples and exercises are basic here. In our training programs weprovide specific examples of a dozen different business typesfrom doctors, to business-to-business oriented companies, to service businesses, to retail establishments and evenone time purchase businesses (yes, it applies there too). Plus, you will learn how tosystematically develop a new client generation program; increase your sales conversions;

and manage your business way more effectively.

Scott, these seem pretty basic so far.

You bet. But make no mistake. If you do not have a system in place to OPTIMIZEand MAXIMIZE the results from these simple techniques, you are leaving enormousmoney on the table.

One client that sells Computer Equipment grew from $500,000 to $12,000,000 insales in just a few short years. They had eight sales repsbut one rep generated 322%

more sales than the second best performing rep. Why? Because he is reselling to existingcustomers SYSTEMATICALLY. Without a system, you cannot duplicate results.Before we continue, there are

3 Secrets You Must Know To GuaranteeEffective Implementation

Secret #1 - Using the Power of Modeling. If you use the exact formula thatthousands of ultra-successful companies use to implement a marketing strategy or anysuccessful procedure(s)I mean step-by-stepyou will be guaranteed similar success.

Here are three easy steps to achieve this:1) Speak with non-competitive companies that are using the strategy or tactic in

question and ask what they do, specifically2) Then test out that exact formula3) Then modify it to your unique business

Secret #2 What is Your Expected ROI? The next secret is for you todetermine the financial impact that successfully implementing a new program in yourcompany is worth to you. This is important because it both ensures that it is a worthwhilething to invest time and resources into AND it motivates you to work diligently to makesure you fully implement the strategy or tactic.

Secret #3 Stay Focused Grasshopper. Lastly, if it is worthwhile to implement,then be willing to stay focused on it long enough to get it perfected in your businessbefore jumping to the next great idea on your list. We entrepreneurs love to jump onnew ideastons of them. Why? Because it is FUN! It stimulates our creativity andmakes us feel smart. But it kills results. Nothing ever gets fully implemented andtherefore results either never happen or quickly fade.


14/19


13

Am I talking about YOU? Do I have a hidden microphone in your office? No. But Ido hear the same challenge from almost every business owner I talk to.

Power Profit Strategy #3 -Start to Finish Total Customer Satisfaction

This Power Strategy represents perhaps the most important business growth system

on the planet. In fact, I like to call it The Boring Way To Riches.When I first started teaching Start to Finish Total Customer Satisfaction it

represented a powerful way to differentiate your company. But in todays recessionaryeconomy, it represents a powerful survival strategy! After all, everything you do toattract, maintain, and expand your customer hinges upon your ability to deliver yourpromised benefit consistently.

Can a Lost Customer Really Cost Me Over $100,000?

You bet. A lost customer is so costly that it is almost indescribable. If youraverage customer has a lifetime value of say $1,500 and you lose just one, it costs $1,500out of your pocket. In addition, you also lose the $500+ they represented in future up-sellopportunities, and other products and services you could have provided as the need arose.So thats a $2,000 lossperhaps you could have used this money to purchase a newcomputer, a short vacation or college tuition for a year.

But it doesnt end here. You also lose the 2-3 new customers per year that youwould have gotten from their referrals, each with $2,000 lifetime values. Over 5 yearsthat is $32,000. And, those 10-15 new customers will also not be around to refer 2-3 new

customers to you a year. Take this formula out 10 years and you have lost hundreds ofthousands of dollars.

And you also suffer from what I call the Reverse Referral Impact. That is, wherethese dissatisfied customers each discourage 10-20 people from doing business with you.This, of course, starts the whole profit loss cycle all over again.

And finally, you must now invest substantial money and time to replace this lostcustomerwhich costs 500% more than keeping your customers. Said another way:statistics show that just a 5% reduction in your customer turnover will increase yourprofits a whopping 25%-85%, depending upon your business!

If you do not walk your talk and provide consistent friendly, timely, high qualityservice, then you cannot possibly expect your clients to buy from you more often (as wejust discussed); refer you to their friends, family, clients, patients and associates; buyother expanded products and services you provide (which I will discuss); or do businesswith recommended strategic endorsement partners (as I will discuss).


15/19


14

Power Action Step:Start by ranking your customers satisfaction on a scale of 1-5, with 5 being totally

happy. This creates a baseline to improve upon. If you have a lot of customers or do notinteract with them often, you may have to guesstimate this rating.

Then develop simple procedures to raise the low rated ones up to the next level. It isa simple step but it will make you aware of where you stand and motivate you to takeaction. See the example below.


This Power Growth strategy does not produce instant profits. But I assure you it iscapable of massive profit increases (and avoiding profit loses). In fact, a major industrystudy shows that reducing customer turnover by just 5% will impact long-term profit25%-85%! So 10% seems pretty low, wouldnt you say?

REAL-WORLD EXAMPLE -$1M+++ - My Health Care Services company.

We had stellar customer satisfactioneverywhere but in our own backyard. We hadplaced so much focus on our new national business that we neglected the clients that weright in our local market. In fact, our Satisfaction Index had dropped below 80% (ournational average was 97%). So we ranked all 42 of the local hospitals. Then we visitedeveryone that had less than a stellar ranking. My guess is we saved $1,000,000 or morein annual revenue we would have lost if we did not rank the customers.



Following the customer retention strategies that Scottteaches at the Small Business Growth Club, we have

been able to set our prices 13% above our competitorsthat sell the exact same products, and actually increaseour volume by millions of dollars!- Mark B, CEO Utah


16/19


15

Power Profit Strategy #4- The Power of an Active Referral System(s)

The fact is that it is 500% - 1000% more cost effective to get a new customer fromreferrals than outside marketing. Yet, this is the most underutilized marketing tool thereis - mainly because it has been totally misrepresented by the gurus.

The fact is that most businesses rely on referrals for somewhere between 20%-50%of their business. Yet these same businesses give no thought whatsoever to having asystem in place for these precious referrals. Our survey showed that 35% of businessesclaimed to have a referral process but when pushed on whether it is formalized andsystematized, the number dropped to less than 5%!

Do you have a formalized referral system in place?

Weve always been taught that if we do a good job, then referrals will automaticallyoccur. Sorry, thats just not good enough. Of course you will gather a few haphazard

referrals but to really increase your referrals, you need a proactive system. That is, a wayto compel customers to happily provide their friends and colleagues names and addressesto you and then a way to drive these referred prospects directly to your business (and alittle sign next to your business card wont do it).

We teach a workshop called, 16 Common Reasons Why Referral Systems Fail -How These Simple Changes Unlock a Floodgate of New Customers.The fact is thatmost businesses fail to produce results in their referral system due to one or more of our16 Reasons. These occur in three categories

1. They fail to get referrals.2. They fail to convert the referral prospects.3. They fail to maximize successful referral income once they get them as customers.

The 8 Reasons Businesses Fail to Get Referrals Here are the first three (3)

#1 Failure to set up your customer to want to give you referrals you need to getyour referring friend to lay the groundwork for you so you are a warm caller, not acold caller.

#2 One try and youre out not following up and continuing to ask. You must be

diligent in following up in asking your happy customers for referrals. They may bebusy or often do not think about someone that needs your service until somethingoccurs with their friendthey are getting married (hey, now they need a dress) orthey bought a new car (hey, now they need insurance).

#3 Failure to have more than one referral system. You should have 3-4 systems inplace because getting referrals happens at different times in the client life cycle.


17/19


16

IMPORTANT NOTE: It is important that you are picking up the incredible value ofour extensive, worldwide research here. Now, it is true that what we are sharing with youlacks the comprehensive, step-by-step implementation program, as well as our 10 specificproven referral methods, but make no mistakeif you just concentrate on making thesmall distinction where your program is deficient, you can increase your referral success

significantly from what I am revealing here.

5 Reasons Businesses Fail To Win Referrals

Ok, you are now getting referrals but you are not converting them into customers?Why? Well there are five primary reasons. Here are the first two (2):

#1 One try and youre out Failure to follow-up with referrals you receive.You must be diligent in following up with them, just like with any prospect. Dontworry about being an annoyance; if you have a great product, then your referring

friend wants you to be persistent.

#2 Failure to motivate, educate, and have a compelling call to action for the referralprospects. Treat them like any other prospect. Often I see business owners assumethat the referred prospect is an easy sale. Dont make this mistake.

Ok, you have a program that worksgreat. But is it all that it can be?

Power Action Step:

You can begin benefiting from referrals right away by simply asking your customersor patients that you are most comfortable with for referrals. NOTE: The word referral isnegative for many people, so instead simply ask them, Who else do you know that wecan help


Ok, lets see what profit impact a referral system (or vastly improved referral system)can have on your business.

A $61,000 REAL-WORLD EXAMPLE: Boat Rental Side-Business

I want to use this example because it is simple and demonstrates that even smallimprovements can create significant profit impact.

The local ski shop owner also rented out his personal pontoon boat on a nice lake.But he seldom rented it unless someone knew about it from his shop (a tiny sign). So,with some advice, he contacted homeowners that rented their lake front houses and filledup his summer rental weeks.


18/19


17

A) Current Annual Revenue: $2,000B) New Rental Income $9,000C) Gross Profit Margin 80%D) Added Profit Per Year $ 5,600

E) Business Value* or5 Year Profit Stream $28,000



Clearly your results will depend on where you are now in the process, but it is notuncommon to see 10%-25% profit increases from implementing a systematic referralsystem.

Drum Roll Please. And the Total is

Ok, I have provided you with just a few ways to generate more profits from yourexisting customer base. By now you should clearly be convinced that the $5,000 is a dropin the bucket if you apply The Power of Incremental Improvement.

And I agree that what I have shared consists of an idea and some basic get startedimplementation advice. This was done intentionally. Why? Because:

1. Self Serving Reason: I want you invest in our Business Growth TrainingPrograms to take your business to the next level.

2. Selfless Reason: I know that if you apply what I taught you above, whetherfrom my ideas or simply because it sparked an idea you already had, you willabsolutely generate the promised $5,000. Not necessarily tomorrow but overtime as I taught.

Scotts systematic approach enabled us to increaseour renewal maintenance business by over $200,000,without adding any customers. These systems includereports that enable me to instantly identify any slippagein results and enable us to train staff easily.

- Bob Lousy, CEO of Source-Data


19/19

2006-2012 by Scott Hallman and Business Growth Dynamics, Inc. All rights reserved. Reproduction, in whole or in part, without written permission is 18

So go ahead, add up each of your answers to your calculations above.

ENTER TOTAL EXPECTED PROFIT INCREASE HERE $__________

See, I told youa no brainer. Now, if you are a start up business or have few

clients, then you are lucky. You get to avoid years of wasted profit opportunities that cannever be recovered. You get to do it right from day one.

Ive Done My Part, Now it is Your Turn

I have illustrated a few simple ways to dramatically increase your profits fromexisting customers by $5,000 or more. But that is just the tip of the iceberg. Our trainingprograms fit any company with any budget. Whether you are interested in our low costself-study membership site, or prefer hands-on scheduled group training conducted byme personally, or want to go all out and get one-on-one coaching to help take yourbusiness to the next level you will find it all at:

http://scotthallman.com/ultimate-success-library

To your success

Scott D. HallmanScott D. HallmanScott D. HallmanScott D. Hallman

PS My goal in this special report was to provide you with powerful distinctions that youcan apply in your business - immediately. If you are an existing business with at least$100,000 in revenue, by now you should clearly see how implementing what we revealedhere today will produce at least $5,000pain free, with ease.

$5000 profit optimization report

Documents