Wow. All I can say is WOW, get this recording below as our gift to you.
I just got off the call with the Formula Five team and my mind is still reeling…
My special guest was one of the world’s leading business coaches. And man, did he every BLOW ME AWAY with his some of brilliant observations on growing a business in today’s economy.
I had a TON of takeaways from this call, including:
"Recession" is basically the reallocation of resources from the scared to the bold. You just need to decide which one you’re going to be…and not let anyone (especially the media) tell you otherwise.
Even though consumer spending in durables–like furniture, cars, appliances, etc–is down, people are still buying in other areas. Things like services and ecommerce products are still moving along at a fast clip. Which means you have the opportunity RIGHT NOW to take business away from competitors.
One of the biggest reasons why people fail to grow their businesses is because many of them are transactional. They’re like stock brokers and mortgage brokers–they want to get in, get out and be done. There’s no planning for the future, so their entire business plan is doomed from the start.
When I heard all of this, I was nodding my head in agreement.
Because it’s true–everyone who wants to start a successful business seems to run into roadblocks almost right away.
What I’ve found is that it’s either a time issue, a lack of knowledge, or they’re so focused on the "magic pill" that they’re missing out on what’s REALLY important.
My guest goes into much more detail about this, and his insights are brilliant to say the least. But in a nutshell, here’s 5 highly potent business principles to follow from the get-go.
Do yourself a favor…write these down and pin them to your wall:
Concentrate on profits, not revenue
Monetize your customers more efficiently
Generate more consistent business opportunities
Improve your conversion of customers
Utilize your most precious resources better
Stay focused on all of these 5 things, and you’ll be well on your way to success.
Of course, that’s only scratching the surface. There’s LOTS more juicy content on this call.
In fact, we barely covered a few points that we wanted to discuss. So we’ve decided to do something about it:
| We’re going to post a replay of the call at the link below. Simply click there and you’ll have an opportunity to listen in on every word. (Plus, if you tell some friends about it, you’ll receive a downloadable MP3 and transcript as well) |
We’re going to post a replay of the call at the link below. Simply click there and you’ll have an opportunity to listen in on every word.
(Plus, if you tell some friends about it, you’ll receive a downloadable MP3 and transcript as well)
Grab Your Copy Of The Call Part 1 Here
| Since we had so much to cover in this call and we never even touched on 90% of it, we’re going to add an additional call on Monday, January 19th, PART 2 to continue on this train of thought and hopefully wrap it all up. |
So make sure you listen to the replay right now, then register for Part Two coming up on Monday.
Grab Your Copy Of The Call Part 1 Here
Powerful stuff here, people…the kind of strategies that can turn the light on and open your eyes to a whole new way of doing business.
I strongly urge you not to miss out.
To Higher Profits,
Rich
P.S. If you were on the call (or you listened to the replay), please post your thoughts below on what we talked about…
I know what my takeaways were, but ‘d love to hear yours as well. So make sure and let me know, okay?
Talk again soon!
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Ideas assuming troubles we face are merely matters having historic precedence in “recession” sugar coat reality. Truth is the leverage that’s unwinding upon a dysfunctional physical economy is making for a breakdown crisis of the entire global financial system. Contemporary comparisons finding precedent only to the Great Depression are no statistical fluke. A bubble of John Law proportions presently is threatening to irreversibly implode.
No doubt, one still could find many, many opportunities to flourish. Yet only those visionaries who see the inevitability of a social-economic-financial paradigm foreign to most living persons probably stand to succeed, at least most immediately.
Nothing is set in stone. Still the immense leverage that has been built up at the expense of real wealth’s production is a very real threat right now. The task of possessing a greater capacity for self-sufficiency is all the more imperative.
next time – make your comment relevant to the post (this one was about the call, which you probably didn’t listen to), it makes it so much more enjoyable to the reader (like having a point).
Yes Rich… it was a great call.
Get greedy(bold) when others are scared, and be cautious when others are greedy!
Thanks for the replay.
Doctor Quadlander
____________________
Ok my mind is officially blown….
Somehow I think you are one of the best when it comes to using excelent headlines in your subject line.
Here I am busy with my stuff, my outlook alarm sounded and the first thing I saw was your headline titled “Ok my mind is officially blown….”
My first reaction was what in the world is blowing his mind up?
Now I can see why your mind was blown away.
This is another one of those topics that is loaded with the most wonderful,fantastic, money making, problem solving, profit maximization ideas.
Best part is that it is ACTUALLY FREE!!!
Thanks for bringing these guys!
Hey since we are on this topic of profit maximization, what do you think about Net Promoter® Score (NPS) as a way of measuring customer satisfaction? May be your guest may want to take a shot at it.
I was kind of researching it a few days ago.
i believe very strongly in NPS and i thought the book “The Ultimate Question” was not only a great read, but it also provided insight on how businesses succeed for the long haul. If you follow their suggestions you’re heading down the right path…
rich
The dialogue was profound. especially the following.
Three questions to ask myself every day.
Is what I am doing right now, at this moment, profitable to my business?
Is this the highest and best use of my time?
What is the difference between my working hard and my working smart? I must put more thinking and thought in my work.
The answers to these questons can only drive me forward into my greatness and explode my business.
Thanks for the replay. I am excited awaiting the transcript.
Al Lashley. Lovingly Divine.
You can have two responses to the call
1 – Wow – this can really help grow my business and increase profit
or
2 – Yes nice call but I already know this stuff
So to anyone thinking the fit into category 2, I have a simple question.
“If you know what to do, are you doing it throughout your business and have you optimised it?”
Often there is a gap between “knowing” and “doing” which is the difference between increasing your cost and increasing your profit.
I am lucky enough to have received a review copy from those nice people at StomperNet (take note of this tactic Rich) and I am now 2/3rds of the way through module 4 on conversion control.
I am having to blitz through it to get my reviews online before the launch day rather than to spend three weeks implementing a one or two ideas from each module.
But it is extremely good. Although I’m on a tight schedule, I have hit nuggets that have caused me to stop, and fix something in my business.
As one of my mentors, Mitch Axelrod says “Big doors swing on little hinges” so often a small idea put into effective action can have a huge impact on your profit.
Haven’t gotten to the call yet, but at least one thing that I am already taking away from this scenario is your enthusiasm over it. I agree with Oritseyemi that the headline to the email grabbed my attention, making me wonder as well what it could be that is doing this to your mind. So, I’m enthused — unfortunately currently though at a workplace computer rather than at my desktop at home, making it less than convenient to spend the focused and requisite time to do the call justice. That will happen at midnight tonight once the day’s things are safely out of the way in a more or less responsible fashion on my part.
—————————————-
Big Ticket Depot on the verge . . .of blowing my mind.
thanks alphonza,
wait till monday… it’ll be laser focused on tactics you can employ right now to get explosive growth!
rich
Rich, thanks to you and Paul for the call. I didn’t hear it live because of the time difference (I’m UK based) but caught the MP3 recording.
It was filled with great content and the some simple clear messages:
Set your goals
Decide on your strategy
Implement tactics aligned with the strategy
Avoid blind alley, time wasting ‘opportunities’
Measure outcome & Repeat until goals achieved
Now I ‘knew’ lots of this stuff, why haven’t I been doing it it?
I think too often I have been sidetracked by the ‘it’s so simple to get rich now’ stuff and I have not been clear enough about my own goals.
That’s the next step for me, clarify my goals and review the strategy to get there.
Good stuff guys; I’m looking forward to part 2.
I came away with the feeling that customers really want to buy but you must give them the opportunity. You can have your main product and then something relevant that is half the price. And if you want to give something free that has value just increase your main price by about 4%. There was also the email to you “dead” customers who haven’t bought for 8 months. Offer them something relevant that is less than the first time. You can do your letter as Dear Dead customer. You purchased before and we wondered why we haven’t heard from you. Were you satisfied with your purchase….we have a special offer for you(Less cost than first item) Send an email and a certain number will buy… you have nothing to lose. Wake up the zoombies!!!!Everybody who has done this has gotten back customers and made an easy set of sales. You CAN do this with your list.Message..Take Action/no fear
@Rich
“i believe very strongly in NPS and i thought the book “The Ultimate Question” was not only a great read, but it also provided insight on how businesses succeed for the long haul. If you follow their suggestions you’re heading down the right path…”
Thanks for your response.
I appreciate that.
Well, at 11:29 into the recording, I had to hit pause to attend to a sudden domestic affair, but prior to that I myself had just been hit with a revelation, that being, opportunity versus business, or rather, being opportunistic as opposed to having a business mindset. Now that I am back at the machine, domesticity tranquil once again, I am rearing to be hearing more of these juicy tidbits. Rich, you’re totally right, this is great stuff. Anyone reading this comment, I urge you to get your house in more order than mine and listen right quick to the wise words in this recording. It most definitely is timely for yours truly and my recent BTD fixation.
Was a groundbreaking call… I took a lot of notes and had several ideas about what I would like to change in my business… Waiting impatiently until the second call…
Thanks for providing the replay!
Greetings Rich,
It was a fantastic mind blowing call today, Martin Luther king (MLK day), Monday January19, 2009.
My head is spinning right now from all that succulent information you and Paul delivered on the Formula 5 # 2 Call.
I consider these two conference calls, with you and Paul, as educational, informative, and most importantly, very helpful to me and my strategic planning for my virgin business. To me, this information is invaluable.
Things were happening so fast and there was so much to grasp.
The # 1 transcript was even better than my notes, because I now have it from the “Horses Mouth” to coin a Cliché,
These unadulterated strategies that you and Paul provided, are for my reference for the rest of, not only my business life, but my entire life.
I am continuing my use, referencing these valuable and unique strategies, as I develop and grow my business.
Al Lashley. Lovingly Divine
Samurai XV Festina Lente
Hi, Thanks Rich that was extremely insightful, coming from finance and learning a lot on marketing, still building my blog has given a lot of food for thought. The major one being take the plunge and do it… Thanks again really appreciated – Joan