3 Ways To Grow Your Profits [Podcast 223]

GTF 223 | Grow Your Profits

 

What’s old can become new again.

Why is this important for us or why is this important for you?

What would it be worth to get a strategy to be able to grow your business?

Sometimes going back to basics is important and we can find so many ways to help our clients make more money with simple little things. It’s those little hinges that swing the big doors.

Join us as we share the three ways to make more money and grow your profits.

In this episode, you’ll discover:

  • The importance of how to leverage OLD to make it NEW
  • The fascinating story of a billion dollar company selling eye protection, and the genius who helped grow it: Joe Sugarman
  • 3 ways to grow any business (originated from Jay Abraham)
  • 3 Case studies you can model from to grow your profits
  • The Recurring Revenue Offer Script to create and build a recurring revenue
  • How Kevin Thompson added $648K in revenue with one adjustment on his website model
  • What Kevin Thompson and Alex Nghiem do to help business owners grow with less stress 3 Action Steps you can take to grow your profits

And more…

Have you hit a plateau with sales and conversions?

Get a steady flow of leads, sales, and profits.

Learn more by scheduling a Breakthrough Clarity Session at http://www.BreakthroughStrategyCall.com

Listen to the podcast here:

3 Ways To Grow Your Profits [Podcast 223]

Have you ever heard the idea that what’s old is new again? I have these glasses and they are called BluBlocker glasses. Why am I wearing BluBlocker glasses? It’s a fascinating story about this particular brand of things. The BluBlocker brand was started originally through NASA. They created BluBlocker glasses to protect against UV rays and also block the blue rays, both of which were intense in space. What happened is obviously that’s non-public consumption and it’s for a limited few if you’re in the NASA space program flying into space way back in the ’50s and ’60s. A guy named Joe Sugarman who’s one of the smartest marketing geniuses in the world got access to the idea of the BluBlockers and he created a promotion around it.

The long and the short of it is do you realize that of the BluBlocker brand itself, over twenty million pairs have been sold collectively between direct BluBlocker brands and knock offs, literally billions of dollars in sales of this. As of late in the last couple of years, there have been all kinds of brands like the blue-blocking night time eyewear. People repack it. What’s old can become new again. Why is this important for us or why is this important for you? What would it be worth to get a strategy to be able to grow your business? Sometimes going back to basics is important. What I want to do is we’re going to share with you three ways to be able to grow your profits. Why this is important is because I’ve been talking to several of our clients. The truth is we can find so many ways to help our clients make more money with simple little things.

We call these the little hinges that swing the big doors. I want to share a little presentation that I put together for you that will walk you through some of the basics of this. We also refer to this as the PLM method to grow your sales, your engagement and profit. Is that what you want? Why is it for my businesses over the years, there have been times where I’ve struggled? Getting clients, having sustainable momentum on a daily basis and that gets tough. When all of your results are based on you or me having to go out and shake the bushes to get the revenue up to drive sales. Wouldn’t it be nice to have a system of rainmakers in your business that could bring you new clients, new revenue and new profitability on a daily basis? That’s what we’re going to cover with you.

3 Ways To Grow Your Profits

Old is the new new. Do you know Jay Abraham? I started learning from Jay all the way back in the ’90s. Fast forward, I’ve been fortunate to connect with Jay and speak with regularly. We’ve had some great private conversations about family, kids and so many more. He is a marketing legend and a marketing genius. He’s been talking for years about this idea of there are three ways to make more money. I’m going to give you my version of it, but I have to give credit where credit is due, where it comes from Jay. There are three ways to make more money and grow your profits. You get more clients, you sell more stuff and you do that more often. It’s simple. It’s a compound effect. If you look at a penny doubled every day, do you realize that with the compound effect, if you take one penny and just simply double it every day, after 30 days you’ve got over $10.7 million? That’s the power of multiplication working in your business. Little hinges truly can swing big doors for you.

The little hinges swing the big doors. - Dan Kuschell Click To Tweet

This is to give you a theoretical example of how this could work in maybe your business. If there are some insights here that you feel would help someone else, make sure to share it with another business owner, another entrepreneur, especially if they’re struggling to get a steady flow of new clients every day. For example, let’s call this XYZ Company. A thousand clients make a $200 purchase and they buy one time a year. That’s those three key factors we talked about. The impact is that it would be $200,000 a year business. Let’s say we increased 20% in each of those three areas, more clients, more stuff, more often. Instead of 1,000 clients, we worked to increase that 20%. There would be 1,200 clients. They bought more stuff by 20% extra, maybe increased pricing or whatever. That would increase the price from $200 to $240 and they bought more often. Instead of just buying once, they bought 1.1 times overall. The impact of that would be growing from $200,000 to $316,000 in revenue.

The growth of that would be $116,000 overall by increasing 20% gives you more than 50% in growth. What would that do for your business? I want to give you a couple of examples of what you can do in your business. I want to give you some action steps that you can play. I’m going to share a couple of case studies for you. What does this mean for your company? Let’s do a quick assessment. Where are you in your business? How many clients do you have? Every business is going to be a little bit different. Don’t worry about getting over-analytical, just ballpark it. In your heart, about how many clients actively do you have? How many new clients are you adding per day and per month? What are those numbers? Get real about it. Dan Sullivan of Strategic Coach says, “The first progress starts by telling the truth.” Next, how much do your clients buy from you per week, per month and per year?

3 Case Studies You Can Model From

You can even do this per day on average. Do you know these numbers? If you don’t have clarity around these numbers in some way having access to them quickly, easily and effectively, and you’re not looking at them every day, there’s something missing in your business. The little hinges do swing big doors. Let’s talk about the PLM method. This is the Predictable Leverage Maximizer method so that you can build, grow and scale your business with less stress and do it predictably. It’s a high growth, small staff solution and a business that creates a greater impact, greater income and certainly more freedom done right. Here’s a case study of one of the clients we worked with, a company called ACS. They had an initial offer of $47 for an education program. They were selling 200 of this per week. With 200 a week at $47, that’s approximately $9,400 in revenue a week or $488,000 a year.

With the PLM method, we added more stuff, which is option one of the three ways we’re talking about. We added a $297 offer as an upgrade, so more stuff. Of the people on average, we had about 20% of the people who said yes, which added an additional $11,880 per week. That gave the company an extra $617,000 per year. When I share these examples of other case studies, it no way implies that you’re going to have the same result. These are examples but ideally, they stimulate. They inspire you. They charge you up to go, “What if I put something like this in place?” Making an offer after an initial sale had a huge impact in this example.

GTF 223 | Grow Your Profits

The Predictable Leverage Maximizer method enables you to build, grow, and scale your business with less stress and do it predictably.

 

Here’s another potential company, GES, which is in one than another client we worked with. We added more stuff and we did this as basically like a phone offer versus an online offer. We call this offline. There’s online sales, all online and digital or offline, which would be a phone offer. Do you have clients that you generate that you’re making some sales for something online? Are you then following up with them and making a phone call to welcome them, congratulate them and making a soft offer to them? You’d be amazed at how big of an impact that would have. Even if you’re only selling a few clients a week, how big of an impact will that have over the course of weeks and months and years in your business?

The Recurring Revenue Offer Script

We had a client we introduced this to a company in the education and healing space. They had started following up with their clients. They’ve added approximately $9,000 extra new revenue a week by doing this phone soft offer upgrade. Here’s an example of this other company, case study number two, GES. They had a $197 initial online offer and they were selling about 150 of those a week, about $29,000 a week in revenue. The company was doing about $1.5 million a year of these initial sales. We added the more stuff option, option number two, in the three steps, which was a confirmation call with a soft offer. Out of the people that came into their world each week, about 60 said yes, the average sale for the soft offer, which is about $125, generated them additional $7,500 per week or extra $390,000 new revenue, additional revenue per year by just making a soft offer. Case study number three is we’ll call it the 2CC method. We added more stuff with a recurring revenue model. Isn’t it great when you can do the work one time and get paid over and over again? What would it be worth if you could create some recurring revenue in your business? This was a 2CC option. It was a confirmation call with a soft offer for this recurring revenue.

We did this in two ways. One, we did it where we gave people the ability online to go ahead and add it to their order. You’ve probably seen this in Amazon and many other places, but they could add it to their order. When people would order anything online, the company would call and make an offer and basically give them a trial. The script that the company was using and pieces of that script that maybe you could use. They got approximately 60 people that would say yes to the online offer. They had 60 people that would say yes to the soft offer on the phone. What did that mean? The average sale became $47 a month for this method, $5,640 a week, $24,252 monthly.

That’s recurring and that builds up over time each and every month it compounds and compounds. I didn’t add those compounding numbers, but this means approximately $293,000 in additional new revenue if this were in place for you as it was for them. Here’s a good example. There’s this guy named Kevin Thompson. Kevin is one of the most incredible, genuine human beings in the world. He has a business partner. His name is Alex. They work together to help people develop connections, relationships and do more business connecting with the right relationship. He’s one of the best in the world, that matchmaking for business people to grow and scale their business with less stress. This was several years ago, I sat down with Kevin. He showed me his offer. I made a recommendation, basically option number two, more stuff and put it online. We gave him a couple of ideas. He sent me a text at what had happened since then.

When you start looking through new lenses, the old can be new again. - Dan Kuschell Click To Tweet

This is probably never going to happen for you. I want to use a lot of disclaimers here. Legally, I want to make sure we’re covered. I hope you respect that. It happened for Kevin. Don’t get caught up in the number. Get caught up in the idea of what would the impact be for you if you do and take action with something. Kevin said, “Sharon got me the dollar amount for the partnership program upsell that they added $648,000 in new revenue for them.” We were contemplating whether it was between $500,000 and $1 million. He said it was $648,000 in revenue. What would happen for you if you made a commitment to get more clients, offer more stuff online and also offline via phone call? The bottom line is this is a soft offer. While I have you on, I’d love to run an idea. If it works, great, if not, no problem. We’ve introduced this to our private clients and at times they’ll bring us in and we’ll actually write the full script for them.

For many clients, at times it meant high six-figure and seven-figure additions, sometimes even monthly for those particular clients. This is some of the verbiages to go around that. What could you do in building and growing your business with a couple of these things, to be able to have more clients, sell more stuff, and do it more often? How would it impact you? Number one, on the ROI side of things, the Return On Investment. The ROI is powerful. Here’s something I do want to you to think because I want to leverage. I want to challenge you and leverage what it costs you by not doing this. What does it cost you by not focusing on generating new clients every single day and getting that pipeline built?

Number two, what does it cost you by not offering more stuff, both online and offline? Don’t be lazy. Go put something in a place where you can make offers online and offline to your clients. It’s an amazing profit multiplier for you. Number three is how you can get people to buy from you more often? How can you create that opportunity? This is the PLM method to grow your sales, engagement and profits. I’m going to give you three action steps for you to be able to take direction. For example, could you be able to go out there and do a call? You could basically put an email out and say, “Call me.” Give some criteria what you’re making an offer for and schedule a phone conversation.

We have done this numerous times and literally can generate clients on demand by making an offer like that and also changing the context of moving people from the online experience, all digital, to an offline experience like a phone conversation and connect with them person-to-person. You’re not in the B2B business, the B2C business, you’re in the P2P business, the person-to-person business. Ideally, you’ll look at it as the relationship-to-relationship business. It’s all about relations. Number two, have them buy from you and when they buy from you, make an additional offer either online or offline or both if you want to grow your business exponentially. Number three action step is to make offers daily. Can you do that? Could you take action to put these simple three strategies in place?

GTF 223 | Grow Your Profits

When you commit to making more offers daily, you have the ability to have a bigger impact, make more income, and create more freedom.

 

Could you do a call and make an offer? Can you get people to buy from you? Make an offer either online or off or both? Can you commit to making more offers daily? When you do, business becomes a lot more fun. You can have the ability to have a bigger impact, make more income and certainly create more freedom. With that in mind, if you’d like to go deeper to see how we can help you directly be able to make more offers, to get more sales on a daily basis, to grow your impact, your reach and your contribution in the marketplace. To dominate your marketplace, be able to go out and make a bigger difference. You want to go deeper with what we’re doing, how we can help. You can go to BreakthroughStrategyCall.com. Our fee per day is $10,000 to work with a client.

You’ll be able to take advantage of our breakthrough strategy call for no cost. We’ll walk through. You’re going to leave this call with greater clarity, greater confidence and greater certainty. We’re going to help you connect the dots, see the blind spots, get unstuck so that you can go out and build your steady flow of clients on a daily basis. If that’s what you want, take advantage of this no-cost breakthrough strategy call. If that’s not what you want, that’s okay too. If you like this segment, this session, make sure to like the page, like the post, wherever it’s available here. In addition, if you feel this could help serve somebody, introduce them to the idea of these BluBlocker glasses. You might ask how these BluBlockers have helped you.

I wear these pretty regularly at night. What it does is it does calm me down because where is the blue light? I’m not flying into space. I’m not a NASA astronaut. Where is there a lot of blue light? In most homes, there’s a lot of blue light and especially out of a computer screen. If you’re in front of a computer, it’s one way that you can calm yourself. I don’t know why it works or how it works. What I do know is when I wear these at night, later in the day, when I’m working on a computer, it’s a little easier for me to go to sleep, but also is a little bit easier for me to stay asleep. If that’s something you might enjoy it, I don’t recommend a certain brand or whatever.

This was the one I had gotten. I know there are many great companies out there. I believe Alex Charfen is somebody you could look into. Dave Asprey with Bulletproof 360 and Bulletproof Coffee offers different varieties of these. They’ve talked about these at length. When you start looking through new lenses, realize that old can be new again. These three ways to profit, although they may be strategies you’ve heard before, maybe with that little degree shift, that one-degree shift, it can help you create more momentum, create more opportunity and have a bigger impact. Apply it, take action. We’ll see you in another segment down the road. I hope to get the chance to work with you. Enjoy your day.

Resources mentioned in this episode: