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Today's Feature Article

7 Strategic Moves That Boost Your Profits
Marcia Yudkin

Work smarter, not harder, by making small but significant shifts in the way you do business. Simple adjustments, clearheaded analysis and two minutes here and there may be all it takes to boost your bottom line. Carefully consider these options, and you should be able to implement at least one or two of them right away.

1. Drop your least profitable offerings and concentrate on your most profitable ones. Note that I said "profitable" - not those bringing in the most or least money overall. You can sort your products and services by their profitability if you analyze your expenses according to which sources of revenue they support. " Most small business owners lose sight of precisely where they are making money and where they're not," says David Shepherd, author of the book, Your Business or Your Life. By getting rid of the offerings that require the highest percentage of costs in order to deliver them, you can see immediate improvement in profits, says Shepherd.

2. Send "difficult" clients or those you simply don't like to your competitors. In a survey by David Maister, a consultant for top professional firms around the world, only 30-35 percent of respondents said they liked their clients; 50-60 percent said they tolerated their clients; and 5-20 percent didn't like them at all. "Why spend the majority of [your] life working on tolerable stuff for acceptable clients when, with some effort in (for example) client relations, marketing and selling, you can spend your days working on exciting things for interesting people?" asks Maister. You'll feel more enthusiastic about your work and get more done when you send unpleasant or troublesome clients to get their needs met elsewhere.

3. Pursue customers who can or will pay more. A consultant once told me that she'd come to the conclusion that people starting a small business simply wouldn't pay the fees she felt she should charge. I didn't agree, because I'd had clients ready to spend big on launching their new business. They were in their forties and fifties and either had a budget to spend from a company that was laying them off, or they were willing to raid the retirement fund they'd accumulated working for a large corporation. It would be possible to target others like them and make multiples of what she'd be earning from those just scraping by, but I think she just didn't believe what I was saying. Almost always, your existing market includes people who have more money or are willing to spend more of what they have for your stuff, and by marketing to people like them, you earn more for the same effort.

4. Reuse everything you create in different formats or for different purposes. If you've taught a seminar, turn your handouts into an article (that's how what you're reading came about). If you collected industry data to direct your marketing, sell your research to colleagues. If you regularly interview experts about what's new in the field, incorporate their insights into a product. And so on. "Do once, sell three times" is a shrewd money-making mantra.

5. Create an untiring army of sales reps through an affiliate program. Colleagues who don't have their own products or services, or whose offerings complement yours may be happy to promote your wares in exchange for a commission on the business that they refer. On the Internet, so-called affiliate programs make that process easy. You decide on the terms, find marketing partners who agree to them and give those partners a link to use that keeps track of leads or sales coming through that link. I use FusionQuest.com for my affiliate program because unlike most such services, they themselves take no commissions from sales coming through the program.

6. Cultivate and reward your referral partners. Two ordinary words work magic when it comes to nurturing relationships with people who regularly send you business: "Thank you." If they send you sales with a particularly high value, a gift, such as a book, a fruit basket or tickets to a show might be appropriate. How do you initiate such relationships in the first place? This can be as simple as inviting professionals out to lunch and asking them what they do so that you can refer business to them. Only an idiot would not reciprocate by turning the same question back to you.

7. Invest more to get customers who have a high lifetime value. Keep in mind that when done properly, marketing is not an expense but an investment. Correspondingly, you need to know how much you can afford to invest to acquire a customer. The smart way to think about this question is not in terms of an amount for your marketing budget that you think sounds reasonable but in relation to how much you can earn during the whole time someone remains your customer. For instance, spending $100 to lure each new customer may sound outrageous until you realize that each one spends $4,000-5,000 with you over the course of three years. With that profile, it might be smart to spend much more than $100 per customer to lure them into your fold.

Why slave away doing things the way you've always done them when you can earn more by using some of these strategies? Please let me know when you try any of these moves, with extraordinary results!

********************************
Marcia Yudkin, marcia at yudkin.com, is the author of 6 Steps to Free Publicity and 10 other books. She runs a private member site, MarketingforMore.com, which supports business owners who are growing their businesses. Learn how to avoid the most common pricing mistakes in her free report, "Charge More & Get It," available from
http://www.marketingformore.com/survey.htm

Today's Motivational Reading

Here's To Think On ...
Ken Darby

From The Lips Of A Child

A group of students was asked to list what they thought were the present Seven Wonders of the World. Though there was some disagreement, the following got the most votes:

• 1. Egypt's Great Pyramids
• 2. Taj Mahal
• 3. Grand Canyon
• 4. Panama Canal
• 5. Empire State Building
• 6. St. Peter's Basilica
• 7. China's Great Wall

While gathering the votes, the teacher noted that one quiet student hadn't turned in her paper yet, so she asked the girl if she was having trouble with her list.

The girl replied, "Yes, a little. I couldn't quite make up my mind because there were so many."

The teacher said, "Well, tell us what you have, and maybe we can help."

The girl hesitated, then read, "I think the Seven Wonders of the World are: 1. TO SEE 2. TO TASTE 3. TO TOUCH 4. TO HEAR."

She hesitated a little, and then added,

"5. TO FEEL 6. TO LAUGH 7. AND TO LOVE."

The room was so full of silence you could have heard a pindrop.

From time to time you come across a child who seems to have the inside track to their Maker.

While all of us, usually at a young age, have experiences that reveal to us a power beyond our normal selves, some appear to have listened more than others. Such is this little girl.

I have made the study of myself and of others my life's work. It has always been important to me to witness how others react to situations. In a whole classroom of kids only this one chose to consider the real miracles of life.

That is typical of life, and yet I say to you that when you are quiet, calm and in a meditative state, you can make real progress toward your goals and objectives simply by listening to what you are being told from "inside".

Learn to listen to that still, small voice. That will lead you to where you want to go and it will do the job faster than any conscious thinking and enthusiastic effort on your part. Strength and power does not lie in the bold and loud but in the quiet and calm. Learn this and you become strong.

There are many who mock this approach. Do not succumb to their taunting. You know where you want to go and it is you who must lead the way. Those who taunt are only trying to keep you at the level they are.

You have, within you, the power to realize the things you dream about. The voices you must listen to come from "inside" not from the outside world. Constant, persistent following of what you are told from "inside" will achieve your objective much faster than any other method.

That is the message this little girl was really trying to give us.

From The Lips Of A Child

********************************
Internationally syndicated columnist, Ken Darby authors many articles found in newspapers and magazines throughout North America. He is the author of The Saga Of Pinehill, The Adventure, ISBN 1-4137-4723-X a thrilling adventure filled with life's lessons, and available through your favorite bookstore or
http://www.the-pebble.com

Today's Subscriber Article

Five Ways A Blog Helps You To Market Your Business
Michael Murray

Want to advertise online without spending a fortune? Get a blog.

If you're an Internet marketer, you need a blog, because:

* a blog helps your site to rank higher in the search engines; and

* a blog expands your customer base.

Blogs are often called social marketing tools, because they let you interact with your readers via comments and permalinks (see the glossary below.)

What's a blog? Get up to speed here:

* http://www.blogger.com/tour_start.g
* http://en.wikipedia.org/wiki/Blogs

Let's look at five ways a blog helps you to market your business.

One: A blog helps your site to rank higher in the search engines

In 2003, when Google bought Pyra Labs, the company which developed Blogger, the reaction was Huh? At the time, blogs were seen by most as online journals, primarily maintained by the demented and teenage girls.

How times change. In 2006, companies small and large are using blogs to promote their businesses. This is because Google and the other search engines love blogs because of their constantly updated content.

Blog often, and you'll get more visitors and a good search engine ranking.

Two: A blog expands your customer base - you'll reach people you could reach in no other way

A blog helps you to reach people you can reach in no other way because your frequent updates mean that you'll automatically get niche visitors - those people who have no clue about you or the product that you're selling, but who happened to type in a search engine query that mentioned words you used in a single post.

Those niche visitors can become buyers, and this means that you don't need to struggle to get top listings in any search engine. Write (or link to) quality content, and your visitors will find you.

Three: A blog helps your site to differentiate itself

A blog is a form of stealth marketing. Therefore a blog doesn't need to be about the products you're selling. A blog can be about any topic that you're passionate about. Blog about your passion, and mention - in passing - the products you're selling. You can also link to them, but don't bother selling heavily - that's not what a blog is about.

Four: Like a diamond, a blog is forever

Although the most-visited blogs update often, some of them several times a day, that doesn't mean that you have post more often than you can fit into your schedule. Your permalinks (see below) mean that since your blog items are standalone pages, they're indexed by search engines in the same way that any HTML or other page is indexed - your blog items/pages will continue to bring traffic even if you don't update very often.

Five: A blog attracts new opportunities

A blog makes your business visible. Your stealth marketing efforts will attract the attention of people who may become joint venture partners, or who will have other opportunities for you.

The time and energy that you invest in your blog can bring results beyond your wildest expectations. Create a blog - it's your hardest-working, and most cost-effective online marketing option.

GLOSSARY:
Blog = Web log.
Permalink = permanent link, an URL for a single blog post.
Comment = blogs have a comments section, where readers can interact with the blogger and others.

****************************
Michael Murray is a 23-year old full-time Internet marketer with Cerebral Palsy who lives in sunny Orlando Florida. Finally! A Quick and Easy Way For YOU to Learn the Secrets of Niche Advertising. These secrets will revolutionize your online business plan by guiding highly targeted buyers to your site. Click Here =>
http://www.marketlikeapro.com/niche.html

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