How to Create a Marketing Plan that Works! (Part 1 of 4)

By Action Coach Dave Beam

I am going to do a four part series starting with this newsletter on how to create a marketing plan that works.  This is actually pulled from the marketing module of "BusinessRICH" our premier 2-day paid training. All that to say this is fantastic stuff!

The first key point in creating a great marketing plan is asking the most effective questions in the right order.  Most business owners, barraged by advertising representatives, believe that the most important issue in marketing is the how.  Should I use TV, radio, newspaper, website, internet, flyers, direct mail, etc. etc.  If so, which paper, which flyer, which ball team, which charity, new business cards and on and on it goes. Although these are legitimate questions, they are not the first questions that need to be asked.  The “how am I going to do it” is one of the last questions to answer.

The Power of Process Goals vs. Outcome Goals

By Action Coach Dave Beam

How do you feel about goal setting?  Is it an enjoyable experience, or an activity you avoid?  Most of us have heard about the “power” of having clear goals, yet how many of us actually set clear goals and use them?  If you are like me, the reason you may avoid the whole goal setting scene is because goals can actually lead to discouragement and even despair.  Being reminded of unfulfilled outcomes can produce questions like “Am I just kidding myself?” and “Will I really ever get there?”

Key Financial Mastery Issues – The Cashflow Budget - Part 3

By Action Coach Dave Beam

In the last two newsletters, we have looked at two fundamental money mastery concepts, cashflow and breakeven.  Today I want to get even more practical, and address how to make and use a cashflow budget.

I am going to assume that you already agree that it is essential to track and project your cashflow.  If not, give me a call and I will gladly provide a free coaching session – no kidding – and ask you some really interesting questions!!!

Profit Break-Even - Part 2

By Action Coach Dave Beam

Last week we considered the number one financial mastery issue, cashflow.  It is essential for you to understand the flow of money in and through and out of your business.  For some businesses, this can even be a daily issue.  Positive cashflow (more money coming in than going out) is essential to keep the business going.

Your Customer 4-H Club

by ActionCOACH David Beam

Here's a way to help you think about the Action concept of A,B,C,D customers.

Your customers are members of your 4-H Club; Hilarious, Happy, Hassle, Horrible

A (Awesome) customers are Hilarious

B (Basic) customers are Happy

C (Can’t Deal With) customers are a Hassle

And D (Dead) customers are Horrible

Think carefully about your customers. Typically about 10-15% are horrible and drain the money and energy from you and your business, and 10-20% are hilarious and are a sheer delight to work with and serve. The other 65-85 % are either basically happy or a hassle.

Why People Challenge Price

by ActionCOACH David Beam

Customers want several things from their suppliers. Surveys of consumers have shown that most want timely service first, quality products and services second, and low price third. When asked in sales seminars what they think is most important to consumers, sales people have offered consistent feedback. They believe the consumer wants low price first, quality second, and good service last. There is a clear difference between what customers really want and what salespeople think they want.

5 Ways to Increase Your Profit

By Action Coach David Beam

If you have been hanging around Action Coach for very long, you have heard of the “5-Ways”. It’s great to know about simple profound principles that can really boost your business success. However, the only way that the “5-Ways” is going to do that for your business is by taking ACTION. So here is a challenge for every reader of this newsletter. Today, create at least one strategy from each of the five ways to implement in your business over the next 30 days, and do it.

Your Biggest Competition

by Action Coach David Beam

A common question that I get asked as a business coach by business owners is “Who do you think is my biggest competitor?”

Many business owners are very focused on their competition. “How much are they charging?” “What are the new services or products that they are going to roll out?” “What do they say about us?” “How well do we compete in the market compared with them?”

Frankly, searching for answers to those questions really has minimal value. The reality is that your biggest competition is not the other guy or gal, but YOU! The single largest limiting factor to your success is not outside, but inside. Instead of focusing on what others are doing, the most leveraged way to improve your business and realize success is to look in the mirror.

Looking for Opportunity in a Challenged Economy

by Action Coach Dave Beam

Just like the seasons of the year, the economy cycles. It appears that we are headed for a heavy economic winter season. Winter is not bad. It just requires preparation and an appropriate response to make it good. In fact, if you are a child, you look forward to the fun that comes with the change of season. A fundamental principle for facing any challenge is to understand that circumstances are neither good nor bad. It is your response to circumstance that turns that circumstance into a fun adventure or a devastating disappointment. It is essential, especially in challenging times, to be ready to create, change, and innovate. People who are filled with fear, worry, and distress are not in a creative frame of mind. Remember that spring will eventually come, and how you respond in winter will prepare you to plant in the spring.

Using Your Reticular Activating System (RAS)

Using Your Reticular Activating System (RAS)
By ActionCOACH Dave Beam

Your brain is amazing; and setting and focusing on goals is a powerful way to harness its massive energy and power.

There is a network of nerves in the brain that control the state of awareness and attention. This system functions as a filter or doorway to accept and reject the overwhelming stimuli that we all encounter when we are awake.

Help To Recession-Proof Your Small Business

Help To Recession-Proof Your Small Business

by ActionCOACH David Beam

The ‘doom-and-gloom’ crowd is out in force these days. Whether you believe their warnings or prefer to embrace optimism, a prudent business owner should take steps to recession-proof the company in these uncertain times. The key is to take positive steps to acquire and retain market share.

Small-to-medium sized businesses can survive a recession, if they act early while customers have still not committed to other vendors. Securing revenue during a recession is no different than any other time. The company simply needs to increase its marketing effort and scope to reach more customers.

Keys to Great Customer Service

Keys to Great Customer Service

by ActionCOACH David Beam

Customer service in today's economy is at an all time low. That means that it is relatively easy to meet expectations! And if you just merely meet expectations, you will not be building customer loyalty. The goal is to WOW customers by going above and beyond the expectation. A raving fan is someone who is so impressed and excited about their experience with you that he/she can't wait to tell others about you and your products. They become your sales force!

Creating Your Uniqueness in the Market Place

By ActionCOACH David Beam

Mr. or Ms. Business Owner, I have an interesting question for you. How would you like to sell your goods and services and name your own price?

Does that even seem possible? If you don’t ask the question “How can I sell not based on price”, you will be always fighting the lowest price battle. You may say “Dave, that may work for some, but you don’t realize that our industry is completely price driven.” And I will respond and tell you why the customers in your industry are price focused. It is because you and your industry have not given them anything else other than price to consider.