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The Ambitious Entrepreneur

p.

© James A. Davis

Introduction

In this report I’ll give you actionable steps that will help you avoid the soul-crushing

money leaks plaguing successful entrepreneurs. I call these mistakes “money leaks” because

they often act just like real leaks. Each one starts by slowly building momentum… before you

know it these tiny leaks rapidly swell up into giant geysers, financial monsoons that will drown your business in debt, swallowing your life’s work in a suffocating, instantly traumatizing

typhoon…

So if you’re interested in growing your business without growing the leaks, read this

report from start to finish.

[*Major Money Leak #1: *]Is Your Secretary Destroying Your Leads?

Your secretary is the first point of contact between you and a potential customer… We

al know first impressions are everything, as such If your customers feel like your secretary is rude, disrespectful or unprofessional they will walk away and move on to your competition.

I’m talking walking out of the business never to be seen again. Gossiping to all their

friends and family about the absolute terrible experience they had having to deal with XYZs

secretary… (lets be real, it isn’t the end of the world, but when disgruntle customers tel their friends and family they will sure make it seem that way).

[*I’ve heard horror stories from friends and family about a bad experience they *]

[*had with a secretary up to twenty years later! *]

That sounds insane, doesn’t it? Even so I bet you can recall a time you dealt with a

staff member or employee who really just agitated the living the hell out of you, left you fuming ready to tell the whole world about what a terrible experience you had.

Your secretary is one of the most important points of contacts customers will have

when doing business with you, and having a rude, moody, aggressive or just plain

unprofessional secretary can burn your business in the eyes of a customers for up to 20

years.

I hate even using the term “secretary”… The image you get in your mind is some bland,

boring nobody doing menial tasks…

© James A. Davis

[*Let’s set the record straight. *]

The very important person you have on staff answering your phone calls, setting up

your appointments, greeting with and chatting up your customers is _the most important sales _

_member you have on staff. _

And one of the most important things hat is very important person does is… answer the

phone!

Did you know that…

● 32% of cal s made to businesses aren’t even answered.

● 90% of those potential customers who called, will never contact that business again.

Lets say you get 25 cal s a month – that translates to 32 warm leads per year that you could

be losing out on just because the customer couldn’t get someone on the phone.

If we assume each customer spends $1,000 a year with you…

[*That’s $32,000 a year that could be slipping through your fingers. *]

32k extra a year just by making _sure _ that someone answers the phone.

That isn’t even including the referrals those customers give you, or how many years they stay

with you!

*The person you have answering the phone is your lead sales rep. *

Imagine you’re placing an order for pizza and the place you cal ed doesn’t pick up the

phone. Are you going to just sit on your thumbs, stomach grumbling and call them back and

hope they answer next time? Doubtful… if you’re anything like me you’ll just call up a different pizza place.

Once a potential customer calls you up and actually gets a hold of your business… what

happens next is going to make or break a stunning amount of your sales…

They are going to be asking questions about your products and services…

If your staff doesn’t knows know what services/products your business offers, and isn’t able

© James A. Davis

talk to potential customers about those services and products without stumbling over themselves, you’l lose sales and customers for life.

To reiterate…

*The staff members you have answering your telephone, responding to emails, and *

*dealing with walk ins need to be attentive, professional, and have a firm understanding *

*of the services you offer. *

Let’s revisit the pizza analogy.

If you’re hungry, and your kids are ready to eat and your wife is stressed, what’s the first thing you want to do?

Find a place to eat.

So you cal up a pizza joint and ask what kind of deals, or specials they might have…

…and they answer “I don’t know” or even worse, you go through the ordering process only to

find out the price is higher than what they said, would you continue getting pizza from there?

Or would you complain to your friends and family about the poor service and make a little

mental note to never go back there?

Don’t be that business. Make sure any member of staff who’s going to pick the phone,

answer emails, send texts is well trained and has al the information they need to help turn a

lead into a sale.

Sounds like common sense, doesn’t it? But I could tel you countless experiences with

businesses I’ve had who lacked the basics and because of that, I didn’t spend a dime with

them.

Major Money Leak #2: Your Social Media.

Customers can leave a review of your business at many different locations. Whether its

Yelp, Google, Bing, etc…

What are you doing to foster good reviews, and how do you handle the bad ones?

You know customers rely on reviews and testimonials to make their purchasing

decisions. It’s infinitely more powerful to have someone else brag on your behalf than when

you to do it for yourself.

© James A. Davis

That’s why… _You must reply to the positive reviews. _ When customers go out of their way to shout your praises across the internet make sure they feel appreciated for doing so, it

lets everyone know you take the time out for all your customers, not just the crabby ones.

Speaking of crabby customers… There are a thousand and one reasons for negative

reviews. Maybe the customer has a legitimate gripe, maybe a customer is trying to shame

and blame for discounts or free services. Maybe their dog died, spouse cheated on them,

they stubbed their toe…

The list is endless.

All you have to do is maintain your composure and act like a professional. That’s al

there is to it.

While it would be nice to get a pitchfork and torch, and let the whole world know this

review was written be a dirty rotten liar…

It comes across unprofessional and immature. When you reply calmly, and show that

this stuff doesn’t bother you, it’s free marketing, that reviewer will look silly, and you’ll look like the cool and reliable business owner you really are.

When a customer sees your ability to handle negative statements about your business

with class, what they also see is someone who can help them if they have had a bad

experience, so instead of blasting out negative reviews they’ll feel comfortable enough to

address the issue with your business personally, nipping any potential problems in the bud.

Now… Where do al these reviews come from? Where can you find them?

The online world is filled with websites that automatically create a profile for your

business when you have a business license. It’s worth your time or money to claim your

business on these pages and fil out the relevant information.

Here is a list of some of the ones you should complete:

➔ Google Business

➔ Bing

➔ Facebook

➔ Yelp

➔ Vitals

➔ Health Grades

➔ Yahoo

➔ Yellow pages online

© James A. Davis

There are many, many more but those are the main ones to get you started.

One more thing…

After your secretary handles your customers like a pro, and your happy customers post

reviews on one of the many social media sites, and you reply online because you love repeat business…

[*Remember To Say Thanks! *]

Remember to show appreciation for the people referring business to you, you can give

them a gift card, a discount, make a shout out to them on their facebook page, etc…

[* 68% of customers who stop spending money with a business do so because *]

*they feel like the business is indifferent towards them. *

The next chapter covers this specifical y because it is so incredibly important, and will make a huge difference in your profits.

[*Major Money Leak #3: *]The Real Value Of Customer Service.

If you’re like me, whenever someone mentions the words “customer service” I start

zoning out. It seems like its just a buzz term and obnoxious marketing strategy plastered on

advertisements that comes off phoney and artificial.

“Our customers are so important to us!” We al hear it, yet how many of us actually feel

important when we interact with these businesses?

I’m going to share with you an amazing, real life example of what actual customer services is.

And you’ll be _stunned _ by the results.

One week, I was helping a good friend of mines mom. She was moving one of her two

houses, one house was behind the gas station she owned (she worked so much, she literally

built a house right next to her business) the other was a giant house secluded behind a giant

© James A. Davis

drive way on a very big plot of land.

On one of our many trips back and forth moving her furniture, She explained to me how

she succeeded in the business world, a story that’s I’m sharing with you now.

[*She told me how she took her gas station from making $1,000 a month from *]

c

[* oncessions, to $100,000 a month over the span of seven years *].

Concessions meaning the profits solely from merchandise inside the store, not from

sel ing the gas.

She talked about how when a customer walked in her door, she knew their name, their

spouses name, the brand of cigarettes they smoked and which pump they wanted to fil their

gas tank at.

She showed she cared about her customers, and wanted to provide the best service to

them, not with some terribly cheesy slogan, but with solid actions that the customers felt each

and every time they walked in her establishment.

She trained her employees with that same mind set. “You must learn two customer

names a day, you must learn what brand of cigarette they smoke, what their favorite drink is,

who their spouse is, etc…”

…Then she made her most important point.

“It’s our privilege that they allow us to serve their community”.

That about sums it up. Have outstanding customer service and watch your bottom line

skyrocket!

Major Money Leak #4: A Rock Solid Guarantee.

Having a rock solid guarantee is one of the best ways to assure you’re not throwing

money away. A lot of potential customers will be teetering on the edge… needing just a little

nudge to get them to buy…

Pushing no-committed buyers over the fence is what having a rock-solid guarantee is

for.

© James A. Davis

Notice I said “rock-solid” not weak and timid… not another miserable “We guarantee customer satisfaction” that Is totally meaningless…

Your guarantee needs to stand out and show customers there is little to no risk when

they spend money with you.

Let me share with you just two proper guarantees so you can get an idea:

● [* “If you aren't totally satisfied with our service, we will give you a 100% refund, no *]

[*questions asked” *]

● [*“If it doesn’t work or match your needs the first time, we will re-do it absolutely *]

[*free” *]

The stronger the guarantee (for instance, a lifetime money back guarantee is

astronomical y better than 30 day guarantee).The more sales you will make, and _ _ the less likely a customer is to use the guarantee.

One thing you can do is put a stipulation on your guarantee. For instances if you’re offering a

training course on how to do knitting, you could put a stipulation in such as…

“Send us back proof you’ve completed at least one chapter of the book, and if you still don’t [_find it satisfactory, we will issue a full refund” _]

I know what you’re thinking, even if you have a stipulation for you guarantee, the world is full of lying bastards, and people will abuse your guarantees and rip you off.

It’s true, a portion of people will use your guarantee to try and cheat you…

But the payoff is worth it. The gains you’l make will outweigh any loss by a huge margin.

Lets say you have 100 people who are looking to spend money on a service you provide.

Out of those 100 people, you’re only converting 5% of them.

A great guarantee can literal y jump your results up to 25% if not further.

The amount of people _who actually use your guarantee _ will only be around 1-2%.

If you are selling a $2000 service or product, converting every 100 customers at 5% is

$10,000.00 dollars.

Now lets say you put in a kick-ass guarantee. You offer a ful lifetime refund, no questions

© James A. Davis

asked.

We’l low-bal and say your results will only go up by 15%, at most only 2% of people will cash

in the guarantee.

Looking at the numbers you've increased your revenue by 13% or $26,000 dollars.

Not bad, huh?

All with one simple change, allowing yourself to take the burden and risk off of your customers

and put it onto you, can give you such amazing results you might not even believe in can be

that easy.

Major Money Leak #5: Referral Oversight – Roll Up A Few

Hundred Dollar Bills And Burn Them.

In this chapter we will go over referrals, what their actual value is, different strategies to

get them, and why if you aren’t already leveraging them in your current business, you’re

missing out on a tremendous amount of free money.

Basical y how referrals work, is for a customer you already have (many times, a

customer you had to spend money to get) you can get another one for FREE.

Lets say you’re spending $250.00 per lead, When you get a referral from that lead –

you are automatical y cutting the price of your lead in half.

That’s like someone walking up to you and giving you a coupon for 50% off your next

customer that your marketing paid for.

*Referrals are more likely to become new customers than any other form of leads. *

So many business rely solely on customer referrals to stay afloat yet they don’t have a

simple system to get the most out of their referrals.

Know that we’ve gone over the huge impact referrals can make in your business, lets

go over a few strategies that can help you land referrals, the first one we’l cover is….

[*Just Ask! *]

© James A. Davis

““He that has once done you a kindness wil be more ready to do you another, than he whom _you yourself have obliged.” _

[_-Benjamin Franklin. _]

That’s al there is to it. After you have performed a service, *all you have to do is ask *

*for a referral. *

“Hey, would you happen to know anyone else who could use this service?”.

People by design enjoy helping other people, and even feel closer and more willing to

help In the future once they’ve helped someone. This is called the “Ben Franklin effect”.

Customer Referral Program

Offer an incentive to customers to bring in more customers, it’s that easy. You see it al

the time – because it works.

You can offer a discount for someone that refers a friend or a family member, or even a

discount for both parties involved.

When you reward customers who refer business to you, you’re creating an amazing

sales funnel that is simple and effective.

Business Referral Program

Call or meet up with a business that compliments yours and ask if they want to swap

referrals with you.

For instance If you operate dry cleaning service, offer to refer business to a local suit

tailor in exchange for them referring business to you. [* It’s a fantastic win-win. *]

[*Major Money Leak #6. *] This one mistake could spell the cold, icy

death of your business.

This money leak isn’t so much a “leak” as it is the hidden, one mile long iceberg that sunk the titanic… If you don’t know what a giant problem it is now, you won’t know until its too late…

© James A. Davis

If you only have one source of customer/client acquisition then your entire business and personal life is extremely vulnerable.

Google, facebook, ad-words, etc… they can have technical difficulties that will stop the

flow of your advertising.

You may inadvertently do something that flags your account and they suspend it, and

then you have to go through the nerve-shattering process of trying to figure out what went

wrong and how it can be fixed…

You’ll urgently ring up a customer service rep in your panic to get your business

producing revenue again, you’ll get put on hold for forever, hung up on, and put on hold

indefinitely.

Eventual y, you reach someone who can help (that is of course, only if they care to…)

and you may or may not be able to get your account back and your business up and running

again.

What if the mailman who is suppose to deliver your bulk direct male campaign had a

bad day and threw al your mail in the dump outside the post-office (direct mail has lots of

problems related to no actually getting to it’s destination… but its still incredibly valuable once you understand how to do it…)

I’m not saying don’t use these mediums, they al work and they al work well… I’m just

saying to diversify your methods for acquiring clients so if (and more likely… when) one of

your revenue streams falls short you have another to keep you afloat until you find a new

stream of customers or fix the original problem.

One of the biggest advantages of having multiple streams generating clients/revenue

for you, is the me

ntal relief you get.

Knowing that if one, two or even three streams of revenue you use get shut down you

will still be making enough money to pay your bil s and support your lifestyle is going to take

away a massive amount of stress and anxiety, leaving you feeling calm and confident to

continue to grow your business.

Major Money Leak #7: Customers Are The Life Blood Of Your

© James A. Davis

Business.

There are only two ways to make money in business, acquiring new customers or

sel ing to previous customers.

That’s it.

Sales and Marketing are the lifeblood of any business. You want to grow you business?

You have to market.

A lot of people treat sales and marketing like some sort of dirty sex act… Like if you try

to market your product or service you’re some sort of sleaze ball.

The real sleaze balls are the honest hard working entrepreneurs who hide themselves

away because they aren’t comfortable investing money, because they aren’t really

comfortable being truly successful.

If you’re going to stand proudly at the helm of a successful business you always

dreamed of, you must have strong marketing.

Tremendously successful business men and woman know this, they know it in their

core which is why they _relentlessly market. _

*Most entrepreneurs are technicians, not business people. * Entrepreneurs are great

at working in there business but not so hot at working on their business.

You may be the most skilled entrepreneur with the best product or service in your

industry, but if no one knows about it, it means jack diddly squat.

We’re going to tie up this money leak with a hugely important part of marketing that is

often over looked… but first you must know…

It’s easier right now than it ever has been to get your product or service in front of a

thirsty audience – however its more competitive than its ever been too. The barrier to entry is lower than any time in history… which means everyone can jump in and try to stake their

claim.

This means people are very, very skeptical about pretty much everything they read

online or in print… People require proof, trust and reassurance like no time before.

So how can people trust you?… More importantly, how can people know they can trust

you?

© James A. Davis

Testimonials from previous clients is one of the strongest ways to build reassurance and trust in your business…

Also, if you can get your target audience thinking of you as the “expert” you’ll be set…

You can also build your credibility through blogs, youtube videos, books etc…

They have to know coming to you that they are getting a professional who is

knowledgeable and experienced.

Now, lets take a look at one of the most overlooked and important tasks you must do

when marketing, and that’s…

Tracking

I can’t tell you how many business owners I’ve talked to that have no clue how much

revenue their marketing and advertising is bringing in…It’s a cardinal sin and most business

owners are totally shocked to find how much money they’re losing once they start doing

meaningful tracking.

Do you know the results of your marketing?

● website/seo

● Adwords

● Direct mail

● Tv/radio commercials…

● Magazine ads…

● Twitter, Facebook, Instagram…

● Yellow pages…

Even if you don’t personal y do your marketing you need to at least have an

understanding of what’s going on so you know what results you’re getting (or at least, should be getting)… There’s no time like now to figure out if you’re pissing money away and need to drop a service/method and change to another one.

[*Where Is Your Business Now? *]

© James A. Davis

It’s my sincere wish that you will take what you learned from this report and apply it to your business to start growing and achieving the massive success you always dreamed of…

whether that’s living in a big city with a nice penthouse, retiring early while supporting your

family or finally getting your hands on your dream car…

This report is short and to the point… Go back over it once more with a notepad and

pen and make sure to write down what’s relevant to that you can started ASAP on that will

plug your own money leaks and help you achieve the success of your dreams.

© James A. Davis


The Ambitious Entrepreneur

"Discover The 7 Secret Money Leaks That Plague Successful Entrepreneurs" What you are about to read – if applied can very well fix a few minor, or major money leaks in your business. The following has been tried, tested and refined across industries and found to be some of the most common, and devastating money leaks in business. Obviously every business owner wants to run a tight ship and would hate to feel like they're pissing money away. If you are committing just ONE of the 10 mistakes that most business are, it could be costing you WAY more then you thought possible. This report might challenge some of your currently held beliefs and notions about business. If you'd like to improve your business and financial life, then you need to read this with an open mind and be willing to change the way you currently look at things and implement the strategies I talk about – if you don't, you'll just be stuck leaking money with common business mistakes that you have the power to change.

  • Author: James Davis
  • Published: 2017-08-19 02:17:14
  • Words: 3798
The Ambitious Entrepreneur The Ambitious Entrepreneur