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Sandy Mehalko - 3 Most Powerful Things To Build Your Business
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Sandy Mehalko - 3 Most Powerful Things To Build Your Business

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  • How many of you don’t feel very powerful when it comes to building a world class business? How many of you would like to learn 3 powerful things you can do to transform your business, catapult it way beyond where it is now, and get ahead of the competition? In this short, but information-packed presentation, I will teach you some of the latest concepts, techniques, and ideas that can absolutely change the way you do business and change your life, giving you everything you could possibly want. Sound good?

Transcript

  • 1. Powerful Strategies a (Not-Yet) Powerful Woman Can Use to Build A Powerful Business The 3 Most Powerful Things You Can Do To Build Your Business
  • 2. Who the heck is she? www.ABAdvisors.biz
  • 3. Why?
  • 4. The Real Cause Of Business Failure… It’s Not What You Think
  • 5. Three Simple (But Powerful) Things
  • 6. I. Customer Strategies
  • 7.
    • 1.Get more customers!
  • 8.
    • 2. Upsell, Cross-sell, Package and Bundle
  • 9. 3.FREQUENCY
  • 10. 4. RETENTION
  • 11. EXCEED Expectations
  • 12. Recap
    • The 4 customer strategies:
      • 1. Get more customers
      • 2. Get them to spend more
      • 3. Get them to buy more often
      • 4. Extend their buying lifetime
  • 13. II. Lifetime Value
  • 14. Lifetime Value
    • Example
    • 3x a year
    • net profit of $50 on each sale.
    • $50 x 3 times per year = $150 net profit
    • Same customer does business with you for an average of 5 years
    • 5 year period (or their “lifetime” of doing business with you) x $150.00 = $750 .
  • 15. Lifetime Value Con’t
    • Base of 1,000
    • 1,000 customers at $150 a year nets you an annual profit of $150,000 .
    • Increase each of the 4 ways to grow your business that we discussed by only 10 percent .
    • 1 st - customers go from 1,000 to 1,100.
    • 2 nd – avg profit increases from $50 to $55 3 rd - avg number of purchases per customer increases from 3 times a year to 3.3 times
  • 16. Lifetime Value Con’t
    • Annual profit
    • From $150,000 to $199,650 .
    • Increase of nearly $50,000 a year…or 33.1 %!
  • 17. Lifetime Value
    • 5 years up 10% = 5 ½ years
    • $750,000 to $1,098,075 !
    • An increase of $348,075 … or 46.4 percent!
  • 18. Lifetime Value
    • ADD:
    • Referral Generating System
    • 10% of your 1,000 customers refer =
    • 100 customers who will bring you profits of another $99,825 over the 5 ½ years.
    • PLUS $1,197,900!
  • 19. Lifetime Value Calculation
    • Average sale per customer ______
    • Less hard costs ______
    • Times # sales per yr ______
    • Times # years ______
    • (buying lifetime)
    • = Lifetime Profit Value of your customers.
  • 20. Recap
  • 21. 3. UCA
    • Identifying, Quantifying and Articulating your Unique Comparative Advantage,
    • or UCA .
  • 22. Recap
    • Number one… four very effective ways to grow your business;
      • get more customers
      • increase the average transactional value of each purchase
      • get your customers to buy from you more often
      • extend your customer’s buying lifetime
  • 23. Recap
    • Number two… calculating the LPV … the Lifetime Profit Value of your customers
    • Number three… developing your UCA … your Unique Comparative Advantage
  • 24.