Month: March 2017

“What’s talked about is a dream. What’s envisioned is exciting.  What’s planned becomes possible.  What’s scheduled is real.”  – Tony Robbins.

This week it’s time to think about OPTIMIZATION!

Exercise: Spend 90 Minutes answering these questions and brainstorming the answers.

Start with the realizing the Key Profit drivers of your business and ask – First, “What are my Current Processes here?” Second, How can I improve or optimize the processes?”

KEY DRIVERS TO OPTIMIZE & QUESTIONS TO ASK:

KEY DRIVER #1: INCREASE YOUR LEADS & DRIVE MORE TRAFFIC: GET MORE LEADS!

What are 3 ways you can increase the number of leads or amount of traffic this week?

KEY DRIVER #2: INCREASE THE EFFECTIVELSS OF YOUR SALES PROCESS

The sales process may be In Person, on the Phone or Automated/Online.  The secret to growth is to create more effective and meaningful conversations or engagements with qualified prospects.

Thus, the question is, “How can I make my conversations/engagements more effective?”  “How can I make my conversations/engagements more meaningful?”  “How can increase the percentage of Qualified prospects I speak with?”

KEY DRIVER #3: INCREASE YOUR SALES CONVERSION: GET MORE CLIENTS

What Irresistable Offer can I offer that would immediately close 20% or more of clients?

How can I increase the Follow-Up close rate?

What Referral strategy can I implement immediately/today? (eg-Can I offer a discount or referral fee or affiliate program for referrals?)

KEY DRIVER #4: INCREASE YOUR TRANSACTION VALUE: GET MORE MONEY

How can I change my Offer? (Change your offer, change your life!)

What Product/Service can I add to my offer?  What bundles can I sell together for a discount where my ideal client would buy more of because of the great value?  What continuity program (program where people keep coming back and buying on a residual or ongoing basis) can I offer for my product or service?

KEY DRIVER #5: ADD MORE VALUE: FOLLOW UP, GIVE MORE & GET (RECEIVE) MORE

How can I deliver “Raving Fan” impeccable service to my clients?

How can I Create & Follow-up with more offers to add value to my clients and myself?

STRATEGY TO GET PAST YOUR STUCK POINT OR GET OTHERS TO CHANGE THEIR PERCEPTION/LIMITING BELIEF

The 3 Key Questions to Turnaround Limiting Beliefs.  Use this to find an empowering meaning out of anything and helping others to do the same.

1) Step 1: Identify the Limiting Belief.

What is the limiting belief, you, your business associate, team or spouse has that they just can’t see a way around?

2) Step 2: To shake any belief, all you have to do is create doubt.  To create doubt, you must Question the belief.  (Note: This can be done constructively and destructively, meaning even though you can destroy limiting beliefs, if you are careless you can destroy empowering beliefs, so be aware of the consequences!)

Question 1: Is it true?  Is it Absolutely true?  Could this be a misinterpretation or misperception?   Do you have 100% of all possible informatinonecessary to know exactly what this means?

Question 2: How do you feel, experience when you believe that thought?  What do you become when you believe this thought?

Question 3: How would you feel or behave if you never believed that thought?  How would life be?  What would you be like?

3) Step 3: Now come up with 3 reasons of why the Opposite of the old limiting belief is true.

Or, alternatively state why the opposite of the prior limiting belief is true.  For example, if I previously said that “New Clients are hard to get,” the opposite would be “New Clients are super-easy to get!”  (That probably sounds strange without going through the full process if your belief is that new clients are hard to get, so go through the exercise and ANSWER THE QUESTIONS!  If you don’t, then the thinking/beleifs remain the same and you’re left to trying to fix the same problems with the same thinking that created them – an impossibility according to Einstein.)

Alex Beyer, Esq.

http://www.StateStoryStrategy.com

“The only good is knowledge and the only evil is ignorance.” – Socrates

What can you do today to start getting a grasp on your current legal and financial situations?

When you take the time to thoroughly analyze the framework supporting your company, you give yourself a powerful and indispensable gift – one that could be the difference between a sudden bankruptcy or legal loss and sustainable profits for years to come.

3 KEY COMPONENTS OF ANTICIPATION

1. KNOW HOW TO READ, INTERPRET & MEASURE YOUR FINANCIALS
2. HAVE A SYSTEM IN PLACE TO MANAGE & MEASURE YOUR COSTS
3. EMPLOY LEGAL EXPERTISE WHERE IT IS NEEDED

Keith Cunningham says you must have “Optics”, you need to be able to see where you’ve been and what the levers are to change the results for the next period of time.  What gets Measured gets Managed.

Tony Robbins’ analogy for anticipation is that it is like playing Video games with a child. You play the game and get killed in 2 seconds.  Then you get to watch as the child plays for 45 minutes before dying.  Why are they so good?  Why so much better?  Because they know the road ahead!  They’ve played the game so many times, they know exactly where the pitfalls are, where the enemies are, and where the challenges will be.

Thus, anticipation includes having “Optics” to know where you are and where you want to be so you can make adjustments as necessary.  And, you need to be able to Anticipate the challenges and road ahead, so you need the assistance of someone who knows the road ahead and/or can navigate the pitfalls and danger zones for you.

1. KNOW HOW TO READ, INTERPRET & MEASURE YOUR FINANCIALS

ACTION ITEM #1

Collect every financial report, analysis, and statement to which you have access. Interview the personnel or advisors who generate your data and make sure you understand the outcome for what is being collected.  Constantly make strategic adjustments as needed.

QUESTION: How can you create a system to consistently review your business’ figures (including but not limited to your Profit & Loss Statement, Balance Sheet and Cash Flow statement, etc.)?

2. HAVE A SYSTEM IN PLACE TO MANAGE & MEASURE YOUR COSTS

ACTION ITEM #2

a) Define a process of checks and balances, b) Define a strategy for cash flow, c) Closely evaluate all your expenses, and d) Explore all possible opportunities to maximize your income.

QUESTION: How can you reduce your expenses by 10% in the company?

If you can do this and your profit margin is 20%, you just increased your profit by 50% (10% additional profit due to decreased expenses is 50% of your current 20% Profits).

3. EMPLOY LEGAL EXPERTISE WHERE IT IS NEEDED

ACTION ITEM #3

Hire an attorney up front to make sure you know where potential legal challenges may show up, and don’t cut corners when it comes to getting the right attorney to review a situation or handle a case.  (Note: Per Tony, the average lawsuit today beings with legal fees upwards of over $250,000.)

According to Tony Robbins’ Business Mastery workbook, “Attorneys are like football referees.  They know the rules of the game and when a foul occurs, players pay their lawyers to straighten it out. That is how the game works… like it or not!  An investment in a quality attorney will save you a significant sum in the long run.  Note: The best players in business hire an attorney to vet every deal that comes to the table before they even get involved in a negotiation.”

QUESTIONS: What more can I do to reduce my risk or avoid losing my income or assets from frivolous or legit lawsuits from unhappy or angry clients, jaded partners, divorce, injured third parties, unforseen problems, injuries or accidents, latent defects, products gone bad, employee injuries, auto accidents while on business, employee lawsuits for wrongful termination or harassment, key employee or owner/partner disability or deaths, family health issues?  Can I get better asset protection and tax advantages through multiple entity structures?  Should I move assets Offshore and out of the US Court jurisdiction?

QUESTIONS: What will happen to my family if I am disabled or die in an accident or the big 3 killers (diabetes, cancer, heart disease)?  What will happen to my business and employees if this happens to me?  Who will make decisions for me if I am disabled and unable to do so?  Am I setup to make decisions for my spouse or business partner(s) if they are disabled or die?  Who will get my assets when I die – my loved ones or unknown relatives?  How can I avoid a 40% Estate tax when I die?   Will my partner’s spouse become my new partner if something happens to my partner?  How will we afford the nursing home costs for my parents?

Note: It’s my BIASED opinion, as an attorney navigating the Estate Planning and Asset Protection minefield, that the goal for Asset Protection is not to avoid all liability and not pay a cent for any type of legal situation.  More so, Asset Protection is a way to get leverage and negotiating power when the inevitable lawsuit arises.  If you are at fault and hit someone with your car, you obviously need to indemnify that person to some extent.  However, by preparing beforehand, you can make it so difficult for Plaintiff’s Attorneys (who are the real drivers of litigation in America) to get to your assets, they are willing to negotiate reasonably for just compensation instead of ridiculous amounts (like $11,000,000 from an employer when an employee drilled through his own hand at work, or for back surgery after taking out the waste paper basket).  If you are a Doctor and make a mistake, obviously you should make the patient whole, however it could be the difference between a couple thousand dollars or everything you’ve worked for your entire life.

ACTION ITEM #4

If you don’t already have one, hire a CFO (Chief Financial Officer) or a virtual CFO to read your financial reports and let you know what levers to change to change the results and direction of the business.

 

Alex Beyer, Esquire

AlexBeyerEsq@gmail.com

http://www.StateStoryStrategy.com

 

 

 

The outcome of this week’s focus within the 7 Forces model is to Constantly Improve the maximization of our sales process to increase sales by a given Percentage THIS year.  We already know people buy from those they know, like and trust. How can we maximize that?

We also want to find the “Cash Cow” by establishing the criteria of the ideal sales people we need to have and implement a strategy to “brush off” those that are not the people we want.

Tony Robbins, author of “Unshakeable”, gave us an example at his Business Mastery program of how they find the best salespeople for their businesses.  Their strategy included creating an Ad that only asked for world class superstars – then, when anybody called in, qualified or not, they would make the sales person sell them why they should be hired.  Regardless of the answer or how good the applicants seemed to be, they would respond with, “I’m not hearing world class here,” and would end up hanging up on the applicant.  Tony says that they hang up on the applicants a minimum of 3 times before they can get an in person interview!  Obviously only the most persistent and those who don’t take ‘NO’ for an answer would call back.

Questions to ask this week:

• What kind of Sales Training can we design, create, implement and constantly improve upon for our sales people?

• What type of Rewards Systems can we design, create, implement and constantly improve upon for our sales people?

• What are the Deepest Needs of our clients?

• What are the Objections that keep them from getting the benefits, and what are the solutions that we can use to squash those objections?

• How can we train our team to a Level 10 Congruency in connecting with potential clients?

• How can we train our team to a Level 10 in Presenting Value?

• How can we train our team to a Level 10 in Squashing Objections with an “Added Value Model”?

With these questions, you can be on your way to building the Sales Team and system that is appropriate for your business.  Don’t discount the power of CANI – Constant And Never-ending Improvement or “Kaizen” as used by the Japanese.  No matter where you are now, there’s room for improvement.

Go for OUTSTANDING, don’t settle for merely “Good” or “Excellent”.

Alex Beyer, Esq.

www.StateStoryStrategy.com