I like the weekends and especially Sunday mornings for ‘reflecting’ on the past week’s events. It’s funny… most people are probably enjoying a sleep in, ready for a day watching the football, or visiting family and friends.
I prefer the Sunday morning ‘quiet’ and tranquillity – to sit and think.
Lately I’ve been catching up on my reading and thinking about marketing as key component of business success. Here’s a revelation… great marketing is hugely important, but… it’s not the entire solution to business success. I’m becoming more and more aware of how important these two crucial components are as well:
- Business Model(s)
- Sales Systems
Look around at all the businesses you buy from as a customer to see how ‘ordinary’ their business models and sales systems are.
For example, I had a lawyer approach me to help him market ‘wills’. He thought if he advertises to get people coming in, charge them $250, and do that all day – he could make a lot of money.
There was no mention of people who called and then didn’t come in, nor putting together a database of those clients, nor developing a referral program, nor ‘grooming’ those clients to upsell them into other services (back-end), and not a mention of past clients on his ‘books’ he could contact about updating their wills.
This is an example of a business with no business model or sales system.
What’s your business model and sales system look like?
I’m really getting into this line of thought now… stay tuned… I’ll have some other important business success principles on this topic to discuss in coming posts.