Here´s part two of the series on making more profits for you small business in 30 days. Keep in mind that you only need to put a few of these tips into motion to make your business even more profitable.
4. Look for new markets
If you´re like most small businesses you have several key markets that you consistently solicit (for me it´s janitorial, mortgage firms, graphic design, and insurance). Lately however, I´ve been working with quite a number Credit Unions and other financial institutions. Looking at a new market allows you to not only think outside of the box but opens the door to new prospects and larger, more profitable opportunities.
5. Make contact with at least 3 new prospects via networking events
The theory here is to make an effort to establish regular rapport with three of the best prospects from a networking event. While you may only close one of them, the other two could lead to some great referrals. And if all three become accounts all the better.
6. E-mail 2-500 prospects per week.
There are a lot of thoughts and controversy surrounding e-mail and spam. But the bottom line is that it is still the fastest, easiest and most cost effective way to reach new and current prospects if done correctly. The trick is that you need to send them out without fail every week and you need a fresh batch of e-mails every week as well. Check local business directories, chamber websites, and company websites for listings of e-mails.
7. Create and mail/e-mail a newsletter to promote your business/services or industry news
I like using a newsletter to get info on my services out to prospective customers. It can be a simple e-mail newsletter which is cheaper to produce, or a more sophisticated printed newsletter. This can have a dual effect on your sales. First it promotes your services and secondly, it offers you a way to make some extra cash by charging for a subscription. Also it´s a great way for prospects to advertise for a nominal fee which helps promote their services.
8. Create a workshop to promote your business
Ever thought of teaching? Do you have information to share with other busy professionals? Perhaps it´s time to create a workshop to share your particular expertise with other business people. Keep in mind that everyone needs information and if you have a better, faster, more cost effective way to make a prospect´s life easier, then your services become even more invaluable. It´s also a great way to bring in extra income several ways. First, charge for the workshop itself. I charge $75.00 per person at Fort Mason Center for a 2 hour class (maximum 10 people) and $175.00 for an in-house coaching session minimum 10 hours. That´s between $750- $1750.00 for a few hours of work. Secondly, if you can cross sell other services like books, newsletters, and other workshops it can bring in other revenue as well. Lastly, if you offer discounts on your other services for attendees of your workshop, it makes the workshop cost more attractive to the prospect. Note: one special feature I offer workshop attendees is a discount coupon for a subscription to San Francisco Business Times Newspaper offering even more value to my workshops.
9. Host a networking event to promote your business
When I started my networking group, Something to Share business Resource Group, I held a Launch Party to promote it. Because I know the manager/owner at the restaurant, I was able to get a great discount on 5 different appetizers for 50+ people, didn´t have to worry about room rental (he gave it to me for free) and the bar made their money on the drinks, which is how most make their money anyway. Because I had it during happy hour at a financial district locale, I was guaranteed business people to network with even though they weren´t on the guest list. Plus the manager was happy because I brought in new customers to his establishment who were new to his club. The point is to promote your business in a relaxed (party) atmosphere but to do it cost effectively. Once you´ve gathered contact information from the prospect, you can then incorporate them into your lead flow system and turn them into customers.
Tony Wilkins is the author of "Telemarketing Success for Small and Mid-sized Firms available in most bookstores and online at www.amazon.com and www.xlibris.com you may also find out about his workshops and services at
http://stores.ebay.com/telemarketing-success via e: mail at firstname.lastname@example.org or phone 415-267-4872 .If you´d like to be notified of a new posting for this column ,please contact Tony Wilkins at email@example.com