16 Golden Rules To Immediately And Massively Grow Your Business.

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16 Golden Rules To Immediately And Massively Grow Your Business.

Powerful strategies to skyrocket your business and multiply your profits and business success.

Some of these 16 Rules are based on the results of marketing surveys covering over 60,000 advertisements and promotions. In other instances over 105,000 selling words and sentences have been tested on over 18,900,000 customers, to come up with the most effective sales principles. These rules have sold many millions worth of products. And they will sell millions more in the future.

No matter what you are selling, you are selling to people. Your customers all eat, sleep and have problems with their kids, wife or husband. They probably want to work less, look younger and need to lose a bit of weight and exercise more. In other words – they are human beings like you and I. Human nature doesn‟t change.
That‟s why the rules below will apply today as they did 10, 30, or even 80 years ago.

16 Golden Rules To Immediately And Massively Grow Your Business.

Golden Rule 1. It is 5 times easier to sell something else to your existing customers than to get a new customer.

Golden Rule 2: If you have an established business 70% of your advertising money should be spent on re-selling to your existing customers.

Golden Rule 3: Where possible only sell to “players”.

Golden Rule 4.If you need to get new customers, by far the best (and cheapest) way is to offer a free sample of your product or service.

Golden Rule 5. When promoting your products find the “right appeal”.

Golden Rule 6.The more information you give in your ads, the more you’ll sell.

Golden Rule 7. Research clearly shows that ads that look like editorial articles get 500% more readership than ads that obviously look like ads.

Golden Rule 8. Never ever run any advertisement without monitoring the response.

Golden Rule 9. Monitor everything you do to promote your business

Golden Rule 10. Don’t try to be creative or original.

Golden Rule 11. Use Benefit Headlines in all your adverts.

Golden Rule 12. Client testimonials increase credibility – and sales.

Golden Rule 13.Nobody has been able to show a relationship between advertising recall and actual sales.

Golden Rule 14.Test every ad, sales letter or marketing campaign before betting your house (or your business future) on it.

Golden Rule 15. Do not listen to opinions and advice from well meaning friends, family and business associates.

Golden Rule 16.Need more help? Contact us by using the Contact form below!

16 Golden Rules To Immediately And Massively Grow Your Business.

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    Competitive Advantage

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    Competitive Advantage

    In any industry, businesses create a competitive advantage through price or the market. A price or cost advantage is tied directly to production costs, efficiency, or available technology. A competitive advantage in the market requires you to develop market differentiation—the aspect of your business that sets you apart from the competitors in your industry.

    http://www.mjfgroup.biz/competitiveadvantage

    Companies that build and sustain a distinct market differentiator generally have unique attributes.

    Competitive Advantage Using Market Differentiators

    Each of these companies has grown by using some kind of market differentiator, such as the following:

     

    • A unique way to meet the needs of a niche market
    • Brand recognition in the market
    • Proprietary or trade secrets for operations
    • Customized or proprietary software or technology
    • Patents and trademarks
    • The unique combination of products/services
    • Access to leading or scientific research
    • The highly skilled and creative staff
    • Reputation for quality and innovation

     

    Companies with a price, or cost, the advantage over competitors usually have internal strengths that are difficult for other competitors to replicate, including:

    • Investments in production and equipment
    • Expertise in designing products/services efficiently
    • Access to less expensive materials
    • Operational processes replicated consistently
    • Outsourcing partnerships
    • Efficient distribution channels
    • Effective hiring practices, low turnover, and highly skilled/knowledgeable staff
    • Efficient production or operational systems
    • Innovative equipment or technology
    • Strategic alliances that support delivery to customers

    Competitive Advantage

    Unique Combination of Products/Services

    FedEx Kinko’s®

    The suite of office products and services

    Logitech®

    Extensive line of computer peripherals

    Unique Way to Meet Needs of Target Group

    Subway®

    Fast food for the health-conscious

    Starbucks Coffee®

    Relaxing hangout for coffee aficionados

    Unique Method of Delivery

    Amazon.com®

    Books, music, and much more via the Web

    XM® Radio

    Satellite radio service to subscribing customers

    Unique Product/Service

    Apple® (Macintosh®)

    First commercial computer with a graphic user interface

    MP3 files

    A music file that can easily be moved and stored on computers

    Competitive Advantage

    Six Differentiators That Build a Competitive Advantage

    A true competitive advantage is one that is difficult for other competitors to copy and one that customers find valuable. Ultimately, your competitive advantage is why customers choose to do business with your company over anyone else. If customers don’t value your differentiator, then you don’t have a competitive advantage.

    Here are six ways your company can differentiate itself from the rest:

    Core competencies

    – The core competencies can be used to develop an edge over the competition by providing products or services that customers value over products or services your competitors offer. Auntie Anne’s® specializes in making pretzels in every way imaginable. Rather than making a variety of products, founder Anne Bieler decided to focus on a competence she mastered at the age of twelve, baking pretzels. Core competencies are the strengths that allow you to meet the needs of your customers. Keep in mind: your core competencies may change over time, depending on the demands of the marketplace and the dominant position you want to have over competitors.

    Reputation for superior products/services

    – Provide the best products or services in the industry or market. Your focus on quality will give you a reputation for expertise in specific areas. For example, Nordstrom® focuses on offering customers the best possible service, selection, quality, and value. Nordstrom sets the standard for department store customer service and a guaranteed, money-back commitment to meet customers’ expectations.

    Niche market

    – Offer products or services to meet the specific demands of the target market(s). A niche market is a distinctive group of customers within a larger market or a smaller segment of a product line. For example, ITW® (Illinois Tool Works) manufactures speciality fasteners and products that are customized for its buyers’ needs.

    Tom’s of Maine®, by positioning its toothpaste as a natural product, created a new category in the toothpaste market. Since no other toothpaste filled this need, the company was able to charge a premium price that consumers who buy organic or all-natural products will gladly pay.

    Unique distribution channels or delivery methods

    – Use a selling method that is unique to the industry or difficult for competitors to use effectively. Provide multiple products or services to the same or similar markets through an effective distribution channel.

    Tip- Know what is important to your prospective and current customers. From time-to-time, ask them why they buy from you or other competitors and what factors influence their buying decisions.

    Dell® sells computers directly to consumers and builds every computer system to order based on the customer’s specific needs. Dell uses a variety of suppliers who actually manufacture the computer components, but since Dell bypasses middlemen and retailers to sell to consumers, it maintains low overhead and passes the savings on to buyers.

    Amazon.com was the first in its industry to use e-commerce to market and distribute books, music, and movies. Besides offering competitive prices, Amazon has an excellent distribution system and can get products into customers’ hands quickly. Amazon also developed strategic relationships with used booksellers to provide customers with the option of buying new or used books.

    Competitive Advantage and;

    Organizational efficiency

    – Look for less expensive materials and more efficient equipment. Streamline your processes and find ways to make products or deliver services more efficiently. Outsource to efficient and highly skilled suppliers. Hire staff with expertise that can improve operations and efficiency levels. For example, Southwest Airlines® continues to be one of the few profitable airlines because of its ability to provide excellent service, budget prices for fares, and quick turnaround on secondary routes. Southwest Airlines started a trend for cost-conscious, low-frills air transportation.

    Unique technology and innovative products or services

    – Use unique, innovative, and leading technology to market, sell and serve target markets. Consider using the Internet to offer products or services to local, regional, national, or global customers. Invest in technology to manufacture products, manage operations, or track customer information.

    Apple does not produce as many products like Hewlett Packard® or Samsung®. But what sets Apple apart from its competitors is that it creates innovative products that initially are unique for the industry. Apple’s first success was its user-friendly computer icons—even three-year-olds could use the computer. With the introduction of the iPod®, a miniature electronic gizmo that can hold 15,000 songs, Apple again provided a unique product to meet the diverse needs of the market.

    Tip. -Copying a competitor’s competitive advantage is a mistake. Capitalize on your strengths or unique innovations so that customers prefer to do business with you. What works best for another company may not work for you.

    Competitive Advantage

    What are my core competencies? What do I do better than any of my competitors?

    Are my products or services the best in the industry or market? If so, why? If not, why not?

    What specific target, or niche, market(s) could I serve better than anyone else?

    How effective is my distribution channel or delivery method?

    How can I improve my organizational efficiency?

    What unique technology and innovative products can I develop?

     

    To take advantage of our free business reviews that can help your strategic positioning go to our free business review page

    For more info use the contact form below:

    If you are interested in identifying your Competitive Advantage contact me; Dr Michael J Freestone. FCIS, FCIBM, MBA, DBA

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    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    http://www.mjfgroup.biz/Crowdfunding or P2P Lending - Which is Better for My Small Business?
    Project funding. Financial opportunity,.

    When you are looking for funding, the dilemma use face is crowdfunding or peer-to-peer lending? This is the question many business owners are asking now that these alternative forms of business finance have become mainstream on the back of ineffective lending from the banks. So, the ultimate question then is, which method of finance would work best for you and your business?

    Crowdfunding and peer-to-peer lending are two innovative ways to get money into your business. They’ve been making headlines over the past few years and it’s fair to say that you’ll have had to have been hiding under a rock for you to not have heard of at least one of them!

    A lot of people actually don’t realize that crowdfunding and peer-to-peer lending are two very different beasts; both share the same principle of raising finance from a number of people who pool together, but it’s likely that one will better suit your business needs, depending on what stage your business is at.

    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    If you’ve got a great idea and need some help getting it off the ground, crowdfunding is for you.

    Crowdfunding is a great option for startups and early stage businesses. You “pitch” your idea or business to potential investors, and if interested, they will contribute a sum to the proposed venture. Then you decide how you want to reward those lovely people who helped you make it happen.

    Crowdfunding in its earliest form focusses on helping entrepreneurial creatives and inventors to get their creative ideas off the ground. The people who chipped in and made their dreams a reality then given something in return, like a unique perk, a gift, or first dibs on their product. This is what’s known as reward-based crowdfunding – one to consider if you’ve got a cool little gadget you want to develop. Like all new things, the concept of crowdfunding has evolved into different forms, with investment crowdfunding now starting to grow rapidly. In this model, instead of giving a reward to those who helped, you actually give them equity in your business.

    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    What will my business need to be crowdfunded?

    Crowdfunding platforms will typically want a business with a business plan and financial forecasts from you when you make your pitch, so it’s important you get these in order.

    MJF GROUP SPECIALISES IN BUSINESS PLANS WE HAVE OVER 500 EXAMPLES TO DRAW FROM.

    If you did want to go down the investment route and release equity in your business, there are quite a few legal issues that you’ll need to deal with and you’ll also need to make sure you keep your shareholders in the loop with what’s happening further down the line.

    If you’ve got an established business then peer-to-peer lending is the one for you

    Peer-to-peer lending is a fast and accessible way of getting a cash injection into your business. The essential difference between this and investment crowdfunding is that you do not give away any equity, but rather pay interest on the money you borrow, much like you would with a bank. Whether your loan is for a piece of kit for your factory, purchasing a property, buying stock or even working capital, peer-to-peer lending for businesses offers the most accessible and flexible way of getting finance for established businesses. Peer-to-peer loans are usually funded by a number of different people

    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    What sort of credentials will my business need to have?

    Peer-to-peer lending is suitable for all established business. As part of the application, you’ll have to provide your businesses financials and reasons for why your business needs a loan. This information should be pretty easy to source, so by way of preparation there isn’t that much extra you’ll need to do.

    Which would work best for my business?

    In a nutshell, if you have a great idea that’s yet to get off the ground, then go for crowdfunding. But, if your business is well established and you’re looking for a business loan, then you’d be better suited to one of the peer-to-peer lending platforms.

    As discussed above, you have two options. Both are viable, but it’s important to evaluate the pros and cons of each model before you decide.

    If you are a small business and looking for crowdfunding, in recent years sites like 40Billion.com, which specializes in promotion of small businesses, make this easy by broadcasting and promoting to its large network of several million users across the most popular social networking sites for small businesses – including Twitter, LinkedIn, 40Billion, and even Facebook. Innovative services like promoted posts and promoted company listings were created for entrepreneurs and crowdfunders to tap into a growing, active network online without spending thousands on pay-per-click ads or traditional advertising.

    Crowdfunding or P2P Lending – Which is Better for My Small Business?About 40Billion.com

    40Billion is the social network of entrepreneurs and crowdfunders – a social platform for connecting business owners and promoting the things they create. Use 40Billion to find professional contacts and projects, get affordable digital marketing and social media promotion, and show off your creations to the world. Awarded Best Small Business Marketing Platform by US Business News!.

    Crowdfunding or P2P Lending – Which is Better for My Small Business?

    BUSINESS PLANS FOR YOUR CROWDFUNDING APPLICATION.

    Contact us to craft your business plan they start from  £445. ZAR8000.00 US$ 542.

    Interested persons to contact Dr Michael John Freestone. B.Com, SAIPA, FCIS, FCIBM, MBA, DBA

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    SA’s 12 ‘most loved’ local businesses – Santam survey

    SA’s 12 ‘most loved’ local businesses – Santam survey

    Small and medium-sized local commercial businesses play a vital role in the South African economy and a new survey tried to establish exactly what makes consumers big fans of the local enterprises they love.

    Commissioned by Santam, the research was done by World Wide Worx.

    The results were compiled using a combination of digital analysis tools on social media as well as traditional research. The report looked into which business categories were being searched for most and then it was followed up with trend analysis.

    Thereafter, a poll was conducted among 2 489 respondents to find out what made them love a local business – or not. The sample was nationally representative and aligned to the economically active population per province.

    To see full article follow this link: https://www.fin24.com/Entrepreneurs/News/sas-12-most-loved-local-businesses-santam-survey-20190712

    Our accounting services Riverstone Accounting Payroll & Statutory Servi ces start on 1st September 2019 in White River also serving Mbombela.

    Should you wish to find out about our very reasonably priced services. Specials for small businesses under R 5 million per annum.

    Don’t forget to get your free business reviews: http://www.mjfgroup.biz/2019/06/21/welcome/

    Please use the contact form below.

    Dr Michael J Freestone. SAIPA FCIS, FCIBM, MBA DBA

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